Assalamu alaikum wa rahmatullah. I have a big confusion surrounding islamic trading accounts. I initially thought that to invest in halal shares of a company, you needed to have an islamic account. Now that I’ve made further research, I might think that I was wrong and that islamic accounts are only to trade on forex and for commodities. So my question is, if I want to buy a share of a company, can I do it simply on a trading app like etoro without an islamic account ? Barakallahoufik.
Wasalam
May Allah bless you.
No you do not need an Islamic account to buy shares, if you can do everything by yourself.
Have a read through this article for some more info:
Kind regards
Assalam, I am sometimes following you (IFG), I pray may Allah you and fullfil all your mission, it’s only you that I know you voice out and teach all Muslims around the world in terms of Investment and making money online also.
I do have one question, it’s today that I came across Islamic Account on forex Trading platform (icmarkets) trading based on Trader4 and 5 on their website, please its islamically legal for Muslim to involve in forex Trading?.
Please let me know if yes, does the platform meet the requirements, theirs website https://www.icmarkets.com/
Islamic Account https://www.icmarkets.com/global/en/trading-accounts/islamic-account
Thanks and best regards
Your lovely brother in Islam
Abba