What is the ruling on dealing with the margin system in the manner mentioned, where an external financier—such as a bank—lends the amount to the client, and the broker executes buying and selling operations for a fixed commission, knowing that the bank benefits nothing from Islamic accounts, and there are no overnight fees for trades, and should the questioner continue in this trade after performing the Istikhara prayer?

The loan granted by the broker to the trader in exchange for commissions resulting from buying and selling (margin or leverage) is forbidden, because it combines a loan with a compensatory transaction. The jurists have agreed that every loan that draws a benefit is usury (riba). However, if the financier is an entity independent of the broker, then there is no objection to that, provided that the loan is not for the broker but is registered in the name of the trader. If the bank takes a small amount that is refundable upon repayment of the loan, then if it is merely a pledge, there is no objection to it. However, it is forbidden for the bank to invest it or benefit from it, because it falls under the ruling of a loan that draws a benefit. The Sharia prohibitions in currency trading must be avoided, such as the overnight interest (fā'idat at-tabyīt) and the failure to achieve immediate possession (taqābud). The general principle is that selling is permissible if these prohibitions are avoided.