I would just like to know if there is a minimum holding period for trading shariah compliant stocks. So is there anything wrong with buying and selling same day or same week? I use both technical analysis and fundamental analysis to derive my strategy.
Shukran for the help.
According to the majority of scholars, trades can only be made once the trade is settled, in most instances, this occurs have after two business days.
Allah knows best
Okay Shukran for the response Mufti. And what about Bitcoin?
Bitcoin, as soon as it comes into your wallet, you can trade.
Shukran for the response.
I’ve checked my platform, Easy Equities (South African based). And this is what they say on the website:
" There is no minimum period that an EasyEquities client is required to hold a share for. You can sell a share immediately after receiving the trade note (by way of email) confirming the execution.
When you sell a share, it will take up to 5 (five) business days after the date of trade, for the proceeds of the sale to be paid into your account
This is in line with the JSE’s Equities Rules which currently works on a settlement period of 3 days after the date of the transaction (referred to in Investment terms as T+3) and the EasyEquities Terms and Conditions which make provision for a maximum of 5 business days for settlement to allow time for conclusion of our settlement processes."
So does this mean I wait 3 days or 5 days ? Shukran
Wa alaykum salaam,
It is not so much as a matter of proceeds being transferred to you, but the ownership of the shares being registered to the buyer and removed from you. If you can find out when this happens, that will be help in getting an answer.
Dear mufti Faraz
What about trading in interactive broker is it halal because my friend told me that you are actually not owning the stock and in the nasdaq there is no stock under your name and he told me is haram please reply me
Is it halal trading BNB coin Mufti Faraz and what about staking it ?
We do not do token screening here. You may visit www.amanahadvisors.com/token-screening to avail of token screening services.