You might ask how they did so and maintained the profitability of their operations.
What Islam Says on Online Forex Trading
Is such speculation permissible according to Islamic law? This is an extremely difficult question to answer and it may be one that should be discussed with your own religious leader rather than being decided base on an internet article. We can start by saying that Islam recognizes that nearly all adult human beings strive to improve their financial positions, and that life involves a large element of uncertainty.
In life we are confronted with many choices, the outcome of which is unclear, and we strive to use intelligence and skill in choosing the available option that will produce the superior outcome. However, we then must go on to say that gambling is strictly forbidden by Islamic law, even as a form of recreation or entertainment when undertaken with small monies which the gambler might be said to be able to afford to lose.
In measuring these two competing elements, it can be said that it is the method of speculation that makes the difference. One author has examined the subject and stated that speculation on the basis of fundamental analysis is permissible, but technical analysis is not, and an interesting reasoning is given: However, this argument can certainly be criticized as spurious as related to market realities.
For example, is a speculator who believes that the U. Dollar will rise against his Euros due to economic fundamentals bound to simply make the trade immediately, and forbidden to take any action to time the trade entry to a psychologically opportune moment? A stronger argument could be made that a Muslim has no business speculating on the currency markets unless he or she has a firm basis upon which to anticipate success.
This would mean that trades must involve either some element of fundamental analysis or technical analysis which the trader actually has a firm reason to believe in.
There is no question that currency exchange is permissible in Islam, provided that there is no interest element, that it is made hand to hand though this phrase can be translated in multiple ways , and that the exchanger has a valid reason to anticipate a probable profit based upon an analysis that does not rely upon the psychology of gambling.
As we have seen, there are certain grey areas within this qualification that must be investigated deeply in good faith and conscience by anyone wishing to begin halal Forex trading with a Muslim Forex account. As evidenced in the research presented here, there are certainly many people who believe that in the right circumstances, Islamic Forex trading is permissible.
If you are interested in researching more on the issue or considering how each Forex broker implements their Islamic Forex system, we recommend that you evaluate our top Islamic Forex brokers and speak to their teams if you have any questions or concerns about how their practices relate to Islamic law. A solid and respectable Forex broker will have concrete answers and will make you feel at ease, not uncomfortable. Is Forex Trading Allowed in Islam? Pembahasan mengenai forex selalu menjadi topik perbincangan yang hangat setiap tahunnya.
Apalagi mayoritas masyarakat Indonesia beragama Islam tentu muncul pertanyaan apakah trading forex ini halal atau haram. Terutama bagi mereka yang masih awam, kebanyakan menganggap forex sama dengan judi. Nah bagi anda yang masih ragu tentang halal atau haramnya trading forex , pembahasan kita kali ini mungkin bisa menjadi referensi anda.
Tentu saja tidak trading forex bukanlah judi, melainkan murni perdagangan. Berikut ini adalah perbedaan trading forex dan judi:.
Dengan melihat keenam alasan diatas tentunya anda sudah mengerti perbedaan antara judi dan trading forex. Apapun itu yang tidak sesuai dengan syariat Islam pasti akan menjadi sesuatu yang tidak benar dan haram hukumnya untuk dilakukan. Seorang ahli fikih bernama Prof. Masjfuk Zuhdi, mengatakan bahwa perdagangan valas dalam agama Islam hukumnya adalah halal.
Alasannya karena perdagangan valas adalah sebuah kebutuhan global yang menyangkut banyak orang. Beliau membuat pernyataan dengan didasarkan dalam hadist yang berbunyi berikut ini:. Dalam aturan jual beli, seorang penjual harus menjelaskan secara detil mengenai barang yang akan ia jual termasuk itu baik dan buruknya. Nah di trading forex pun juga begitu jika broker itu legal, maka anda akan dijelaskan semuanya mengenai trading forex termasuk juga resikonya. Dan juga dilakukan dengan kesepakatan kedua belah pihak.