This is because leverage is forbidden in Islam because it is considered a loan with a benefit, i.e. usury. This is because the amount provided by the broker is legally characterised as a loan, and the broker benefits from this loan with a conditional benefit in two ways: The first one: He requires the client to buy and sell currencies through him so that the broker can benefit from buying and selling commissions, so the contract combines an advance (which is the loan) and a sale (which is the brokerage for a fee)Can I just ask why your even interested in that leverage?
Wow, I've never thought about that before.This is because leverage is forbidden in Islam because it is considered a loan with a benefit, i.e. usury. This is because the amount provided by the broker is legally characterised as a loan, and the broker benefits from this loan with a conditional benefit in two ways: The first one: He requires the client to buy and sell currencies through him so that the broker can benefit from buying and selling commissions, so the contract combines an advance (which is the loan) and a sale (which is the brokerage for a fee)
you can check Axi, they have 1:11-i want to ask you that if there exist brokers offer the option 1:1 in leverage ?
2-or if there exist some brokers will accept this request?
3-and In particular the EXNESS broker?
THANK YOU!
okay i will check it thank youyou can check Axi, they have 1:1
That is a valid point for someone of your faith, I respect that, There are also brokers out there that charge no commissions and are swap-free. Wouldn't that solve the dilemma somehow?This is because leverage is forbidden in Islam because it is considered a loan with a benefit, i.e. usury. This is because the amount provided by the broker is legally characterised as a loan, and the broker benefits from this loan with a conditional benefit in two ways: The first one: He requires the client to buy and sell currencies through him so that the broker can benefit from buying and selling commissions, so the contract combines an advance (which is the loan) and a sale (which is the brokerage for a fee)
thank you! Your explanation has helped me better understand this aspect of trading in relation to Islamic finance.This is because leverage is forbidden in Islam because it is considered a loan with a benefit, i.e. usury. This is because the amount provided by the broker is legally characterised as a loan, and the broker benefits from this loan with a conditional benefit in two ways: The first one: He requires the client to buy and sell currencies through him so that the broker can benefit from buying and selling commissions, so the contract combines an advance (which is the loan) and a sale (which is the brokerage for a fee)
exness i didnt work with but i hear is no useful for traders. a lot of brokers usually do not allow change of leverage by trader but i know some brokers who do accept 1:1 and if you wamt more you can get 1:500 and even 1:3000 as much as you want from 1 to 30001-i want to ask you that if there exist brokers offer the option 1:1 in leverage ?
2-or if there exist some brokers will accept this request?
3-and In particular the EXNESS broker?
THANK YOU!