Assalamu alaikum, I wanted to start long term investing in stocks and I want to ask which broker is halal. I like interactive brokers but I don’t know if it’s halal or not. From my understanding I just need to pick a “cash” account rather than a “margin” account but if there is something else that could be haram please tell me. Jazakum Allah khairan.
Wa alaykum salaam,
A cash account is acceptable to use.
Allah knows best
Assalamualaikum Mufti, wanted to confirm with on this. I was using the interactive broker cash account but noticed that they give interest if my settled cash is above $10000.
They have a company that uses the same software and we can transfer funds to the account under that broker for free. The broker is Zackstrading and as far as I know they don’t give interest on settled cash
explain?what do u mean if its settled over 10k$?