Islamic accounts with forex brokers are swap-free but allow hedging?
What are swaps in Forex trading?
Ustaz Zamerey Abd Razak 29 Oct Ustaz Ahmad Dasuki Rani 11 Apr Fibo TuPai Premium Package. The Science of Trading: Islamic Forex Trading by Dr Mohammed Or Take Action Now: What Is Forex Trading Video 1. Intro To Technical Indicators Video Trading In Price Channels Video Trade wisely at your own risk Disclaimer: Enabling Muslim clients to donate a share of any profit to charity. A Forex swap rate is the overnight or rollover interest, either earned or paid, for positions held overnight.
A swap charge is based on the individual country interest rates of those involved in each currency pair being traded, and whether the position is long or short. Interest is paid on the currency being sold, and received on the currency being bought. Swap charges are usually based on risk management analysis and market conditions.
It seems that Forex trading has become so very popular around the world, that the types of account and tools available are always changing. Technology has enabled anyone, anywhere, and of all different religious persuasions to invest their hard earned cash, and enjoy watching the world markets, developing new strategies, and increasing the possibility of making pots of cash. Forex trading and its prohibition in Islam is a very controversial subject.
There are many people with very differing views, about the many aspects of Forex trading including futures, options, spot, and margin trading, as well as overnight interest. Many agree that Forex trading can comply with Shariah law, only if it is spot trading, and no overnight interest is involved. And that includes interest hidden by commissions. The main bone of contention seems to lie with margin trading as almost all Forex is based on margin trading , and hedging often compared to futures trading.
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