Is it even compatible to be a Forex trader and a Muslim? There are religious norms that cannot be violated. At the same time, Forex trading could become the much-needed source of income for me. Are there any suitable conditions or options?
Seriously? Muslim traders can’t trade? Wait, I’m sure I know at least a few people whose religion is Islam, but they successfully trade on the stock exchange.
There are nuances that allow trading on the Forex market while adhering to religious norms relevant to Islam. If you’re a Muslim interested in trading but don’t want to violate your religious principles, I recommend learning more about swap-free accounts and futures. In this article https://nairobiwire.com/2024/09/is-futures-trading-halal-for-islamic-traders.html Nick Mwangi discusses the main principles, explains such accounts, and offers optimal solutions for how Muslim traders can work in Forex.
I think it’s crucial to find a balance between religious norms and financial opportunities. When I started trading Forex, I was really concerned about compliance with Islamic principles. However, I work with weltrade broker and don't have any problems! It’s all about doing your research and finding the right broker.