Paper trading, commonly referred to as demo trading, enables individuals to practice trading strategies without the involvement of real funds. A significant inquiry for Muslim traders is: Is paper trading halal or haram in Islam? Although no genuine financial transactions take place, the acceptability hinges on the manner in which the platform is utilized and…
Assessing whether cryptocurrency mining is halal or haram is a legitimate issue. From a financial perspective, the process generally steers clear of riba (interest) and excessive gharar (uncertainty), rendering it relatively uncomplicated. Ethically, issues emerge due to the significant energy consumption; however, utilizing renewable energy sources can mitigate the environmental impact. The ruling also depends…
IG has positioned itself as a top-tier online broker platform globally, thanks to its user-friendly trading platform, a wide array of markets available for trading, and a comprehensive selection of financial instruments. The broker also benefits from seamless third-party software integrations and top-notch research and educational resources. Read further for a comprehensive IG review. With…
AvaTrade stands out as a reputable global brand, particularly recognized for its wide array of trading platforms tailored for forex and CFD beginner and seasoned traders. As observed in many AvaTrade reviews, the broker shines in its educational resources and copy trading services, earning accolades for being the Best in Class in Education, Beginners, and…
Day trading, commonly known as intraday trading, entails the purchasing and selling of assets during the course of a single trading day. Whether day trading is haram or halal under Islamic law remains a topic of debate. Some scholars argue that day trading can be considered halal if specific guidelines are adhered to, while others…
Oil continues to be among the most actively traded commodities globally. With the growing involvement of Muslim investors in international markets, a significant concern persists regarding whether oil trading is halal or haram in Islam. This topic necessitates a thorough examination of whether the trades ensure legitimate ownership, prompt settlement, and ethical contractual agreements. From…
MetaTrader 5 (MT5) and MetaTrader 4 (MT4), created by MetaQuotes Software Corp, are two of the most widely used trading platforms worldwide. They are popular among millions of traders for their high-quality services. But what are the differences between MT4 and MT5 and which one is a suitable choice for you? This article offers a…
Gambling, known as maysir in Islam, is explicitly prohibited according to the teachings of the Quran and Hadith. This prohibition encompasses all forms, including sports betting, lottery games, and online gambling sites, as they are frequently associated with financial detriment, addictive tendencies, and harm to personal integrity. Gambling is viewed as haram, especially as modern…
The CySEC is regarded as one of the most esteemed financial regulatory bodies worldwide. Located in Cyprus, this regulatory body enforces stringent laws that licensed brokers are required to comply with, while also adhering to EU financial regulations. Its significance in maintaining safe and equitable markets is paramount. Consequently, CySEC regulated forex brokers are esteemed…
With a focus on forex and CFDs, FXTM (ForexTime) has emerged as a major force in the online trading sector since its founding in 2011. Reputable regulatory bodies like UK’s Financial Conduct Authority (FCA), the Financial Sector Conduct Authority (FSCA) South Africa oversee the company’s operations. We will further talk about regulations in this FXTM…
