What is the ruling on working in buying and selling stocks online, and what is the ruling on the percentage taken for each buying and selling operation?
The question includes several matters:
1. The ruling on buying and selling shares and its regulations: This has been addressed previously in fatwas numbered: 34770, 1729, and 31570. 2. The ruling on the intermediary company taking a percentage of the money as a brokerage fee: This is impermissible due to the presence of (excessive uncertainty/risk), as explained previously in number: 58969. 3. Placing an amount of money with the company for trading in exchange for a known fee per transaction: This is permissible if it adheres to the -compliant regulations mentioned in the referenced fatwas. However, it is common for these companies not to adhere to Sharia regulations, which leads to involvement in riba (interest), gharar (excessive uncertainty), (gambling), and prohibited conditions. For more details, please refer to fatwa number: 58551.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
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