Salam Aleykum @Mufti_Billal @Mufti_Faraz_Adam , I have a trading account (islamic vantage fx) If I only trade with commodities like gold, silver, oil,… no forex, do you think it’s halal ? because the forex is not sure there are different opinions, but the gold…etc is it halal money ?
Thank you
Wa alaykum salaam,
I have no visibility or understanding of the contracts that are used in trading commodities.
Can you get the processes and methods from them regarding how such trades are conducted? Please share here for our thoughts.
Thank you for your response
Salam aleykum
So trading money is haram (even if it’s not forex)?
Trade gold is not allowed ? Please answer me this question
I trade with an islamic account: (can you check it please)
I receive any swap or interest fees for positions held overnight or over the weekend.
Thank you
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Wa alaykum salaam,
The website states:
“In order to make our Oil CFD compliant for our Islamic clients, our prices are tied to the price of Oil Futures from exchanges around the world without accruing any positive or negative swaps.”
Tying prices is not a key feature for shariah compliance, do you get actual ownership of the oil?
Salam. I just wanted to know wether commodity trading is halal or haram. For example oil, gold, silver etc. And what are the requirement for it to be halal. Jzk
Wa alaykum salaam,
To trade commodities, you need to get actual ownership of the underlying asset. Most commodity trading platforms are based on CFD contracts and are not Shariah compliant.
Jzk thank you so much.