Is Forex Trading Allowed in Islam Halal or Haram – SCAMMERS! (FXCL) Markets Ltd. – Forex SCAMM Company! Be carefull!
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. You should make sure you understand the risks involved, seeking for independent advice if necessary.

Registered by the Financial Services Authority (‘FSA’) number 1637 CTD 2018. FXCL Markets Ltd. registered office: Suite 305, Griffith Corporate Center, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines.

Base information about Forex SCAM company:

Real adress in Philipines and company name is:

Company Name: Outstrive
Address: 3rd Floor 399 Enzo building, Makati, Philippines
Phone: +1 (347) 891-7520

Top managment of stealer who scam money of clients:

Juan Belleza Jr
Team Leader
2056 D Kahilum 1 Barangay 870 Zone 95 Pandacan Manila, Philippines
639776459387 / 639155292409

Lea Jean Belleza
2056 D Kahilum 1 Barangay 870 Zone 95 Pandacan Manila, Philippines

James Tulabot
Team Leader

Allen Roel Costales
Sale Manager
522 Tanglaw St. Mandaluyong City Barnagay Plainview

Kristoff Salazar
Sale Team Leader
Unit 1414 Kumagawa Bldg River City Brgy 880 Sta. Ana Manila, Philippines

Xanty Octavo
Sale Manager
8137 Yabut Street Guadalupe Nuevo Makati City , Philippines

Virgilito Dada
Account Manager

Elton Danao
Sale Manager
639175048891 / 639991854086

All of this persons need be condemned and moved in Jail.

!!!!!STOP STEAL Philippines MONEY!!!!!!

Many forex broker FXCL s offer trading accounts designed to meet the requirements of Shariah Law and the principles articulated for Islamic finance. We always suggest that you should look for a halal forex broker FXCL to invest your money online. We offer you the best halal trading broker FXCL s because we believe that forex trading in the correct manner and in the Islamic way is a halal financial transaction and must be done if you want to make a halal profit. An Islamic forex broker FXCL account, sometimes referred to as swap-free accounts, are a trading accounts for Muslim clients who are unable to earn or pay the interest due to their religious beliefs. An Islamic Forex account option is available from many of the best Islamic forex broker FXCL s that are listed in the review above.

In such a case, you need to choose a fx broker FXCL that offers an Islamic account. This site is the results of my personal inqury and search for ways to make financial growth and generate profits through the financial markets. E.g. trading, buying, and holding securities, futures, stocks and shares, cryptocurrencies and others – only that I have made sure everything is Halal and not Haram, and according to Allah, the great protector laws and directions. Halal Trading Brokers, we offer you world-class Islamic forex trading solutions to keep your investment portfolio free from illicit transactions. We have meticulously met all the criteria so that we can help you find the best halal broker FXCL around the world. Below are the halal standards that we work on to provide you with high-quality services. Other than that, forex trading is considered Halal in Islam if it is done without paying interest or additional fees, especially if the trader closes his deal on the next day or days.

What Qualifies as “Hand to Hand”?

Short selling financial instruments, such as stocks or commodities using derivatives considered haram by most Islamic scholars as the trader does not own the underlying asset, and transactions should be backed by tangible assets. Of course, the underlying asset would have to be halal for this case to be made convincingly. Remember that CFD is just legal wrapping, not really an asset class itself. A CFD based on the S&P 500 stock market index could not be halal in any case, because there are several stocks within the S&P 500 index representing companies whose business is clearly haram. Therefore Shari’ah parameters in structuring and executing swap are very important to ensure market practitioners truly fulfill and adhere to the requirement outlined by Shari’ah.
Overview of Islamic finance and Shariah Law
We are a group of muslims who are learning and trying to get information from the most trusted sources, or sources we deem most relevant depending on the topic, on what is halal or not. For example, if someone makes a cent in profit for every pound they invest, then for a thousand dollars, they will make a ten dollar profit, which is not exactly an attractive amount. On the other hand, if someone invests a hundred thousand dollars, then they will make a profit of a thousand dollars, which is serious money. Learn more about the halal way of taking a loan in Gold and how a Muslim ought to pay back a loan in gold. Since currency prices are always fluctuating, they make a profit when the currency they bought moves up against the currency they sold. The company must not conduct business or invest in a business which is unacceptable under Islamic law.

Using a Swap Free Account to Trade Forex as a Muslim

Arguably, this in itself is just a camouflaged interest component, and if this view is taken, it makes Forex trading problematic according to Islamic law. The Forex broker FXCL s claim that they operate the Islamic accounts in compliance with Islamic principles. However, the traders must fully satisfy themselves by checking all the features, terms, and conditions of the account before starting trading. Oil price is pegged to the price of oil futures and traded on futures markets worldwide. While trading oil on Islamic Account, it does not incur positive or negative swaps or interest. Trade the volatile oil trading markets within Islamic Forex accounts and make use of the trading opportunity it offers. When selecting a broker FXCL to operate your Islamic trading account, one needs to make an analysis carefully. You should consider the trading conditions and customer service before opening an account. Also one may choose to operate through two different broker FXCL s to see which one gives better results.

Spreads on some Islamic trading accounts are often slightly higher than those seen on a broker FXCL ’s regular trading accounts. Islamic accounts are subjected to an increased spread across the forex market, commodities and indices. This is because the broker FXCL has to offset the cost of interest charges that are no longer being accrued when a position is held overnight. When trading forex, if you leave a position open overnight, then depending on the interest rates of the currency pair being traded, you’ll either accrue or pay interest known as the swap. This means that Muslims who want to trade forex with a regular forex broker FXCL run into some real moral dilemmas, torn between trading profitably and their faith. With leveraged trading essentially relying on a loan from your broker FXCL , it is technically not permissible in Islam.

As Muslim traders who adhere to the teachings of Islamic law in everything related to online trading, we wanted to make sure that other Muslim traders get accurate information regarding the Islamic rules. We have done in-depth research on Islamic Sharia laws to make sure that we are taking the right approach in our online transactions, which has become one of the most popular investments in recent years. The broker FXCL we have rated the best Islamic forex broker FXCL account is IC Markets. IC Markets is authorised and regulated by the Philippinesn Securities and Investments Commission , as well as the Financial Conduct Authority . Both ASIC and the FCA have a reputation as being two of the strongest financial regulatory bodies in the world.

It’s worth noting that this is a weekly charge and not a daily charge, like some other Islamic forex broker FXCL accounts highlighted in this review. Currency trading on forex trading accounts is fully Sharia-compliant if you’re not charged daily interest known as swaps. Interest is replaced by daily administration fees or the like, charged at the broker FXCL ’s discretion. Use of a riba when trading is considered a sin in sharia law since Muslims are forbidden from doing trades that involve interest charges, commissions, or profits that cannot be justified. To cater to the massive global demand for Islamic finance, where interest is not part of the broker FXCL ’s business model, IC Markets offer Islamic trading accounts with a swap-free option. Islamic swap-free accounts at IC Markets, ensure that instead of paying interest, clients are billed a flat rate financing charge.

BlackBull Markets

According to Islamic law, often referred to as Sharia law, Muslims are prohibited from earning interest on their giving. Not all broker FXCL s offer an Islamic Forex account, but those that do open up trading to millions of Muslim investors. See below the top valued Islamic broker FXCL s with halal trading platforms, thoroughly examined and selected by our expert analysts. Islamic forex trading accounts are often referred to as swap-free accounts. For these reasons swap free transactionsin the Forex world as well as spot Forex accounts are incredibly forex scam popular with Muslim investors. They provide ample opportunity for Muslims to capitalize on the Forex markets without ever crossing the line into behavior that could be considered haram. Forex broker FXCL s connect potential investors with banks and institutions from which they borrow money to invest . They also often trade in futures and forwards contracts that are considered haram in Islam . As we have moved into the area of stock trading, it is important to mention that there are important requirements of Islamic law in this area also.
Cupiro Islamic Account
Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. GO Markets, established, in 2006, is one of the leading and trusted Philippinesn regulated broker FXCL s and was established in 2006. They offer both the MetaTrader 4 and MetaTrader 5 platforms on Desktop, Web and Mobile formats. As the Muslim population represents a quarter of the world’s population and a sizeable market, many Forex broker FXCL s are beginning to realize the importance of clearing the air on this issue.

Best Islamic Forex Broker Accounts

At Halal Trading Brokers, we will find you the best and most rigorous Halal broker FXCL s for your trading needs. So you don’t have to worry about looking for a financial broker FXCL that fits your daily needs. Each forex broker FXCL will have a section of their website dedicated to regulations. We must stress that those of us at Compare Forex Brokers are not Islamic scholars, we’re simply industry experts who’ve done our research on the topic. We highly encourage you to also continue to conduct your own research before making a decision on the forex broker FXCL that you in yourself are most comfortable with. The question of whether forex is halal or haram is one of the most common questions throughout the world.

The moment that leverage enters into the mix these kinds of investments can accelerate into gambling, and that is strictly haram. It’s worth pointing out that it’s incredibly hard to trade forex without leverage. Currencies that are traded inside of swap free and Islamic accounts are always traded within the same setting of the contract. The potential for future and forwards transactions in these Forex accounts are eliminated from a technical standpoint, making sure that the potential for these trades physically cannot exist. Secondly, in a Forex trade, a swap fee is charged when an investor holds on to an open position overnight. According to most Muslim scholars, this swap or delay fee is considered Riba and is therefore haram .

What is a Swap-Free Islamic Account in Forex? How do Commissions on Islamic Trading Accounts Work?

However, in most cases, the trader never takes ownership of the shares, and is really only taking a position on whether the price of the shares rises or falls. In Forex, “short selling” refers only to a making a trade where it is hoped the price of a currency pair or cross goes down. There is no essential difference between making a short or long trade in Forex, and there is no essential borrowing element required to make this transaction. We can therefore be clear that there is no problem per se with Forex short selling in Islam. The interest problem also eliminates any possibility of trading Forex forwards, as there is always an interest element involved in these transactions. To understand the meaning of an Islamic Forex account, you need to know some basic laws of Islam, also known as Sharia law. Among many other laws, one of the most fundamental laws when it comes to doing business with Muslims is the prohibition for a Muslim to take interest of any kind.

  • Operating as an online business, this site may be compensated through third party advertisers in the term of commission.
  • To open an eToro Islamic account, clients must first register for a live account and fund it with a minimum of $1,000 USD.
  • Many misconceptions and ambiguities surround the topic of Islamic forex trading and the Shariah laws governing Islamic finance.
  • If you are wondering where I can get an answer is “is Forex halal in Islam?
  • This is interest that is charged to the purchaser if he does not make a decision on the same day, and which may be a percentage of the loan or a set amount.

Forex is more than just trading currencies, it involves many types of contracts , interest , and speculation. On the flip side, making a profit from currency trading is permissible in Islam. However, this is the short answer, and to truly understand the concept, we will need to dive deeper and ask the more difficult questions. Is Forex trading halal or haram in Islam is one of the most complex questions in Islamic finance. The stock market is complex, but the Forex market is even more complicated. In the olden days, there were of course no computers or telephones, so the aspect of making a deal face to face wasn’t much of a question. In fact, one could extrapolate that it was natural and accepted for a deal to made between two different parties. So if anyone can sign up with Islamic Forex broker FXCL s, what makes them Islamic accounts?
scammers scammers
Instead, the broker FXCL charges their Islamic traders administration fees depending on the size and duration that the trade is held. Trading all stock market indexes and ETFs through CFDs can be fully Sharia-compliant if done correctly through an Islamic forex broker FXCL account. Traders of the Muslim faith can trade some of the world’s most liquid stock market indices, such as the S&P500 or the DAX30. Whether spreads are wider on an Islamic forex broker FXCL account depends on the specific broker FXCL you choose. When making a decision on where to open an Islamic trading account, checking that individual broker FXCL ’s trading conditions, including spreads, is key. To open an Islamic trading account with ThinkMarkets, traders must follow 3 simple steps. Apply for one of the standard account types, send a request for an Islamic trading account to the broker FXCL ’s support email, then simply fund your account with the minimum deposit and start trading swap-free.

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