I am traveling to Middle East and South –East Asia in the upcoming weeks where the population is largely Muslim and before my trip all my soon to be trainees are asking “Forex is Halal or Haram?” It's my Personal opinion, I am sorry if anyone hurts with it.
I believe that " Selling currencies is usually done without the hand to hand exchange which makes them permissible according to sharee’ah."
Forex is Halal if you are not gambling and have your end goals clearly distinguished.
1- As a Forex trader you need to have a reason to take that action (sell or buy)
2- Not gamble on the trend direction but analyze the market
3- Not trade for the sake of excitement but trade for the potential income and to make a living
4- Not to approach it as a game but as a job
5- Have a mindset to win or to protect your equity rather than telling yourself “if I win I win, if not next time”
6- You learn from your losses and move on with the decision taken by yourself rather than blaming the market or blaming the situation.
It's a bit blurry so to say.
But if you're honest to yourself, you know whether you're trading or gambling.
But if you're honest to yourself, you know whether you're trading or gambling.
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