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The question

Are the funds acquired from the website (olymptrade) – which relies on predicting the fall or rise of a stock, earning a specific percentage if the prediction is correct and losing the entire amount if it is wrong – unlawful (haram)? And does the ruling differ if these funds are used solely to purchase software or electronic games, without being withdrawn or used in everyday life?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

If the website's operation relies on profit and loss, and predicting price increases or decreases based on luck and risk, then it is forbidden, and it is not permissible to invest in it or earn from it. Legitimate earnings are abundant. The money earned from this forbidden trading is ill-gotten gain, and it is not permissible to benefit from it, even in buying toys. Rather, it must be disposed of by giving it to the poor and needy.

Summarized from the full answer at Ftawy · imported

Read the full answer on Ftawy
Source platform
Ftawy
Original fatwa ID
180318
Imported
Translation status
Source text, unreviewed
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