Forex trading via the Internet

3-11-2009 | IslamWeb

Question:

Assalam-u-Alaikum: I have found some ONLINE MARKETING COMPANIES which are related from FOREX TRADING. Forex means to "Sell & Buy Currency Online" and Forex Trading means that the trading of sell and buy currencies from another Online Market OK. So, I want to ask you that Can I invest my money in these COMPANIES because this COMPANIES offer Worldwide USERS to join us and Invest your FUNDS wit us in a FOREX TRADING to gain a PROFIT. I tell you some examples of this. The INVESTING RULES are different in each COMPANIES: COMPANY 1 SAID: If USER invest $10 US DOLLAR in 5 Days of Forex Trading, he will get 110% of his Total Profit mean $12 US DOLLAR. During these 5 Days, he can check his Account Daily but cannot CASHOUT their money. CASHOUT are possible after 5 Days. COMPANY 2 SAID: If USER invest $15 US DOLLAR in 30 Days of Forex Trading, so he can CASHOUT their money Daily from his Account as 1.3% of his investing money and after 30 Days end then he will got totally his 120% Profit. COMPANY 3 SAID: If USER invest $10 US DOLLAR in 180 Days of Forex Trading, so he can CASHOUT their money as 1.0 - 1.3% Daily and after 180 Days the total Profit will be as 28.00%. COMPANIES FURTHER SAID: 1) In any case, your FUNDS will be refunded to you. 2) Each plan Have Another Periods For Example Beginners Plan Is For 10 Days And Others Are For 20 And 30 3) We have several different investment products available and that's why we offer several type of investment plans. So, I want to confirm you that Can I invest my money in these COMPANIES because I have not doubt there and most of the worldwide USERS get PROFIT by using FOREX TRADING. Please reply me soon. I am waiting your response...

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Answer:

All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad is His slave and Messenger.

 

It is not permissible for you to invest the money in these companies that you mentioned in the question because of the forbidden matters in their dealings, like the Mudhaarib (i.e. the one who manages the investment) conditioning a percentage from the capital money and not from the profit, and conditioning guaranteeing the money of Mudhaarabah. In addition to this, currency trading via the internet includes many prohibitions.

For more benefit, please refer to Fataawa 88426, 88475 and 87385.

Allaah Knows best.