What is the Sharia ruling on trading Forex with a company that does not impose overnight fees or interest on margin, deals only in foreign currencies, earns its profit from the bid-ask spread, allows immediate withdrawal of funds, and does not obligate opening trades?

The existence of margin in forex trading is considered a usurious loan, as the company charges commissions for this margin, and the investor cannot withdraw the money, but only invests it with the company. The Islamic Fiqh Academy has clarified that margin trading involves a combination of a loan (salaf) and an exchange (mu'awadah), which is forbidden by Sharia, based on the Prophet's (peace be upon him) saying: "A loan combined with a sale is not permissible." Therefore, it is prudent for a Muslim to avoid dealing with such financial leverage and only trade with their own money in buying and selling currencies.