Category: Financial Transactions
Fatwa#: 36600
Asked Country: Hong Kong

Answered Date: Aug 19,2016

Title: CFD Trading

Question

Assalamualaikum. My question is regarding CFD (yes, I'm aware of your answers provided by askimam.org which asked by other)

Can you please have a look on below link, where the platform does offer Islamic account which they claim that it follows sharia law.

http://www.etoro.com/en/social-trading/islamic-account/

Kindly please advise accordingly.

Thanks in advance.

Answer

Answer:

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuhu

The URL you have provided does not exist currently. Nevertheless we have previously advised on the impermissibility of CFD Trading.

 

And Allah Ta’āla Knows Best

Ismail Desai,

Darul Iftaa

 

Checked and approved,

 Mufti Ebrahim Desai

 

 

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