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The question

What is the ruling on buying and selling in the global stock market through a broker who doubles the amount 200 times, takes 3 dollars for every 1000 dollars, and provides daily recommendations, knowing that the displayed prices are values and not weights, and profits are transferred 3 days after the withdrawal request, and the broker deducts 50 dollars when closing the portfolio?

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

The aforementioned transaction is forbidden () because it involves several impermissible elements, including: it is a loan that yields a benefit, which constitutes usury (riba); it involves trading gold, silver, or currencies without the actual realization of mutual possession (taqabud), which is also a form of usury; additionally, much of what is traded and speculated upon is illusory, with no real existence of goods. Therefore, it is not permissible to engage in stock market transactions using a margin system or similar methods that necessitate falling into forbidden شرعية (Shariah-prohibited) matters such as usury (riba) and excessive uncertainty ().

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
126690
Imported
Translation status
Source text, unreviewed
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