Islamic Trading
Should I learn Islamic FOREX?
Trading Islamic FOREX is the most easiest way to lose all your money, all your savings and it could even ruin your life or marriage. That is the simple and plain truth, whether you like it or not. Don’t believe us, go and find someone who has been Trading FOREX for a year or so. Don’t ask about the profits, ask about the size of the losses!
What is a Shariah Compliancy Rating?
The Sharia Compliancy Rating (also known as the SCR score) is a way of measuring how much of a Trading Engine or Trading System is Shariah Compliant. The value is returned as a SCR percentage. The higher the Rating, the more Shariah Compliant the System is.
Is Islamic FOREX Shariah Compliant?
The simple answer is YES, but not 100%.
Let us explain. If we take the 13 stringent characteristics that define Islamic FOREX as a guide to 100% Shariah Compliancy, then Islamic FOREX has already met 12 requirements when Traded with Bounce Action & the MATHS Trading System. That gives Islamic FOREX a Shariah Compliancy Rating of 92%.
What is Islamic FOREX?
Islamic FOREX is buying and selling currencies online, in a Halal way, in accordance with Sharia principles. That is why Islamic FOREX is sometimes called Halal FOREX.
Islamic FOREX is not the same as physical FOREX, where one currency is physically exchanged for another currency, usually for the purpose of transferring money for business or social needs, like holidays. The vast majority of Islamic Rulings on Money Exchange (Sarf), applies to this physical exchange of Money. The rulings ensure that Riba (Interest) is not involved and no cheating takes place through such requirements as Hand-to-Hand transaction, Exchange in the same sitting and taking physical delivery of the currencies.
What is the difference between Islamic FOREX and an Islamic FOREX Account?
Islamic FOREX is about buying and selling currencies online, in a Halal way, in accordance with Shariah Principles. An Islamic FOREX Account is a Broker Account where Interest (Riba) is removed, so that currencies can be traded in a Halal way. Having an Islamic FOREX Account is one of the most important step towards making FOREX Trading Halal, as Riba is what makes Trading Haram.
Assalumu Alaikum, everyone!
We at Islamic FOREX, are pioneering Islamic Financial Trading. We are particularly interested in FOREX Trading, hence our Name Islamic FOREX.
Islamic FORX has been quietly working in the background for over a decade to bring Financial Islamic Trading to the whole Muslim Ummah. We want the Ummah to benefit from Halal Financial Trading, as it provides an independent source of income and provides Financial Freedom.