What is the ruling on trading stocks on the "Kwot" platform using an Islamic account and benefiting from a free balance offered by the platform?

There is no harm in trading in pure shares, and it is permissible to trade them through a broker who charges a brokerage fee. However, it is forbidden to combine a loan (salaf) with brokerage (samsara), based on the hadith: "A loan combined with a sale is not permissible." This ruling applies to all contracts of exchange (mu'awadah).

The credit provided by the company to the client falls under the category of a loan (salaf). Therefore, it is not permissible for the platform to act as a broker and take a commission on transactions. While the Islamic account on this platform has eliminated overnight fees, combining margin (which is a form of loan) with brokerage is prohibited. The Islamic Fiqh Academy has issued a ruling prohibiting margin trading.

Therefore, it is not permissible to trade shares through this platform except under two conditions: that the shares are pure, and that the credit or leverage is canceled. The platform deals in various prohibited practices, such as trading contracts for difference (CFDs), imposing overnight fees, in addition to combining a loan with brokerage.