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Trading stocks and investing in shares Haram ?

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  • Ryan0x0
    started a topic Trading stocks and investing in shares Haram ?

    Trading stocks and investing in shares Haram ?

    This question has been on my mind allot because I Trade stocks and invest and It's very profitable for me. But in a way Isn't it like a form of gambling? Because nobody knows what direction a market will go. Recently i bought allot of barclays stock because it had taken a dip and i'm anticipating it to go back up. I have a good portfolio record trading stocks and i'm still very young and wish to continue. But i wish to know if it is Halal. Thanks.

  • horizon
    replied
    Re: Trading stocks and investing in shares Haram ?

    You cannot trade majority of stocks. Examples include: banks, insurers, alcohol, entertainment (eg. media companies or casinos), food (eg. Mcdonalds, meat-providers, etc.) and companies where they earn a significant portion of income from ribaa.

    You also cannot trade most financial instruments, including: options, futures and other derivatives; forex (the ruling on forex trading is complex, so best to avoid), etc.

    You also cannot do day or intra-day trade, as that is where the issue of it being a "gamble" comes from.

    Otherwise you can do long-term trades, which is fine/permissible (AFAIK)

    Best to speak to an Aalim you trust about this.

    Allahu A'lam.

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