Leveraged shares the halal way?

Investment Questions and Chats Stocks
#1

On apps such as Trading 212 there are leveraged shares such as Google x2 and Google x3 which move at 2 times and 3 rates the rate of the regular stock respectively

Traditional leverage using margin incurs and interest fee during the time the money is borrowing making it questionable, but here no interest is involved. The movements in the share price is multiple of what it would be. Is buying this stock in the same way as buying any other stock permissible?

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#2

Thanks for this query. I am surprised to know how leveraged shares are offered 2x and 3x without a consideration of any fee/interest. Please send a link, so others also can check on this offer. If no interest element, then, on the surface, it looks OK, halal and permissible. However, a Mufti (who also understands the modern way of stock/crypto trading etc) can shed more light. Mohammed AbdulKhader

#3

My basic understanding is that normally it’s not halal because you don’t own the underlying asset.

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