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The question

What is the ruling on buying and selling gold online through a company that allows the client to open an account and trade gold by buying and selling through its application, knowing that it sells without labor costs and adds a commission of seven pounds to the spot price, and buys from the client at the spot price, and the client has the right to redeem the money?

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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 buy and sell gold online, provided that the regulations governing gold trading are observed, including the requirement of actual or constructive possession at the time of the contract. As for the condition of a customer's option to refund the money if the gold does not suit them, it invalidates both the contract and the condition according to the majority of jurists, while it validates the contract but invalidates the condition according to the Hanbalis, because it compromises the requirement of possession. Gold and currency trading is more restricted than other types of trade due to the requirement of actual or constructive possession at the time of the contract, which may be difficult to achieve online.

Summarized from the full answer at Ftawy · imported

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Ftawy
Original fatwa ID
192882
Imported
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Source text, unreviewed
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