What is the ruling on trading forex, foreign currencies, oil, gold, and silver? And can you guide me to Islamic forex companies with which trading is permissible and lawful according to Sharia?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
Trading in the Forex system is fraught with prohibitions, such as margin, which is a loan that brings benefit, and holding overnight positions. However, there is no harm if the trader avoids these prohibitions, especially when dealing with currencies, gold, and silver, which are subject to Riba (usury). We are not aware of an Islamic Forex system.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/123873
Where this answer came from
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- Ftawy
- Original fatwa ID
- 123873
- 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