Is it permissible to deal with Forex companies for currency trading, while avoiding the overnight fee (interest), not closing deals by margin but by personal orders, and dealing directly with the bank without an intermediary or loan?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
The practitioner of the Forex system may be safe from the overnight interest (fawa'id al-tabyit) and borrowing from the broker, but he may not be safe from violating the condition of exchange ( al-sarf), which is actual or constructive قبض (qabd). There are many warnings regarding Forex other than what has been mentioned. If it is possible to avoid these warnings, then the default rule is the permissibility of buying and selling, based on the Almighty’s saying: "And Allah has permitted trade and forbidden usury."
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/93911
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 93911
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy