What is the ruling on trading in Forex with contracts for difference (CFDs) with a broker, while observing Sharia compliance, in the event that the underlying asset is owned by the broker and not by the trader?

Dealing in contracts for differences (CFDs), options, and futures is absolutely impermissible, because they are a form of speculation on the expected rise and fall in prices, and are not commodities or usufructs that may be traded. Rather, they are akin to gambling. Resolution No. 63 of the Islamic Fiqh Academy explicitly states that options, futures, and index contracts are not permissible according to Sharia, because the underlying asset is not property, nor a usufruct, nor a financial right that can be compensated for.