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The question

What is the ruling on creating a demo account with virtual money on a brokerage platform for the purpose of learning and simulating the market, knowing that trading is only permissible in sharia-compliant stocks?

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

It is permissible to trade in pure shares, which are shares of companies engaged in lawful activities that do not deal with Riba (usury or interest), whether through deposits or borrowing. It is prohibited to trade in haram (forbidden) and mixed shares. Mixed shares are shares of companies engaged in lawful activities that do deal with Riba.

Regarding the "Simsar" platform: If the transactions involve cash, gold, or silver, immediate possession (al-Qabd) is required, and deferment is not allowed. If the shares are virtual for simulation and learning purposes, there is no objection. However, caution must be exercised to avoid practicing forbidden transactions such as dealing with margin, contracts for difference (CFDs), options, or futures.

Summarized from the full answer at Ftawy · imported

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
16654
Imported
Translation status
Source text, unreviewed
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