What is the ruling on online currency trading through an Islamic account that adheres to the following controls: no usurious interest when holding positions overnight or on cash facilities, margin accounts without lending, and immediate قبض (seizure/possession) and immediate settlement?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
The broker who lends the client money in the form of a margin without interest, and stipulates that all of their buying and selling must be done through him, makes the transaction prohibited due to the : "It is not permissible to combine a loan and a sale." However, if the lawful possession (qabd shar'i) is secured, and no overnight charges (rusum al-tabyit) are stipulated, and the broker's role is limited to providing market access, price information, and analyses in exchange for a defined commission, then there is no objection to the transaction.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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- Ftawy
- Original fatwa ID
- 126896
- 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.
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- Read the full answer on Ftawy