A question that often recurs among traders, especially in the crypto market… and the answer that the majority of legitimate bodies and contemporary scholars have agreed upon is that trading futures is religiously forbidden, and the reason is due to several matters:
🔻 1. Financial leverage (Leverage):
It depends on a loan from the platform, which falls under the category of forbidden usury.
🔻 2. Selling what you do not own:
You do not actually own the currency when opening the contract, which contradicts the hadith of the Prophet ﷺ:
“Do not sell what you do not own.”
🔻 3. There is gambling and excessive risk (Gharar):
Most futures contracts are akin to betting on the price, not actual investment.
🔻 4. Lack of actual delivery:
Contracts are settled in cash only, without actual buying or selling of the currency.
✅ The legitimate alternative:
Trading in the spot market (Spot) without financial leverage, provided that the currencies are legitimate and free from doubts.
✍️ This is not a fatwa from me, but a summary of the statements of major scholars and fatwa bodies, such as the International Islamic Fiqh Academy, the Permanent Committee in Saudi Arabia, scholars from Al-Azhar, and others.
🤝 Spread the information… it could be a reason for protecting someone's money or the repentance of a heart that was heedless.
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