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: FtawySummarized from the full answer at Ftawy · imported 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.
Summarized from the full answer at Ftawy · imported
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