What is the ruling on money earned from dealing in Islamic Forex, given that I know my trades are conducted through financial leverage that multiplies the deposited amount, and only gold is bought and sold? And if there is a sin, does it fall upon me? And does the money become permissible by donating a portion of it?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
A resolution was issued by the Islamic Fiqh Academy prohibiting trading on margin (Forex) due to its inclusion of explicit usury (riba), combining a loan with a compensatory contract, the absence of instantaneous possession (qabdh) in currencies, gold, and silver, and its harm to the economy. Islamic Forex has not been free from these prohibitions, except for the overnight fees, hence it is advisable to avoid it.
Summarized from the full answer at Ftawy · imported
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