The modern application of Forex involves the element of
Riba' (usury), though some '
Ulama approve it based on
Dharurah (necessity).
The
Shari'ah alternative is with screening mechanism based on the
Shari'ah principles of "
Shuftazah (exchange),
Hawalah (transfer),
Ju'alah (reward) &
Ujrah (service charge)" - MB
May I learn which forex broker that Muslim can trust to trade forex? Thanks. At the moment, I use XM for it has swap-free Islamic account.
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