Is it permissible to trade on a website that allows trading in gold and oil, whether with real money or for free, and stipulates following their accounts for free trading, and provides Islamic accounts that waive rollover fees and position holding fees, and allow the use of leverage?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
There is no harm in an individual trading with their money on the website if the Shariah controls are observed, such as the condition of actual or constructive possession (qabd) of gold. As for trading with financial leverage (free trading), it is impermissible because it falls under the category of a loan that yields a benefit, such as the condition of following their accounts and commission. This falls under the meaning of combining a loan with a compensatory transaction, which is prohibited by Shariah. Thus, every loan that yields a benefit is usury (riba), which is forbidden.
Summarized from the full answer at Ftawy · imported
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- 186226
- Imported
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