Trade

Q: I want to know if trading gold on the forex stock market is allowed? 

From my understanding... You are buying shares of gold that is in a gold bullion (equivalent to a shop). Gold prices fluctuate so you can either buy or sell gold daily... This gives u a profit/loss and you get your money daily. To know whether gold price is going to go up or down, careful market analysis is done daily to see where the support and resistance levels on the chart are. (So it's not really a guess or gamble if you read the charts according to what you learnt). The only time the market is unpredictable is when news events are on. Then the gold price does not follow the analysis (as business is unpredictable as well). 

I've heard that in order for it to be halaal, a physical exchange has to be done. But with today's technology, no physical exchanges actually do happen. Everything gets done digitally. 

So if physical exchange is a must, then are ALL investments haraam? Like the cattle investment, cattle feeding scheme investment, property investment and shares in big companies? Please advise

Q: I have a question about a certain crypto exchange group called “mega”. Basically it’s a group that trades in a platform called “2139 exchange”. Me and my friends group joined this group because we did our research and we didn’t find anything haraam concerning it. But now I’m having some doubts. 

Basically a certain individual studies the market and predicts the direction of a certain currency and makes profits through the price fluctuations. The participants can join the trade through a futures feature and get a profit but he takes a percentage also when the participants withdraw their profits he also takes a percentage. So I want to know if it’s halaal or haraam because I heard some people saying it’s like gambling. 

Q: I wasn’t really religious growing up so I made severe mistakes. 

I made a business that’s doing great alhamdulilah. However, I stole money from someone to begin the business. Since then, I’ve focused on deen more and I’ve repented for this and intended to never go back to this sin. 

Can I keep the profits ?

Q: Could mufti advise on the following: 

Person A owns a Cash n Carry, person B and person C both are his customer's and purchase from him. At the premises of person A, person B and C meet and start transacting on person A's premises. Person A in turns tells Person B that person C is my customer and you cannot supply him. 

1. Is this type of clause permissable in shariah where person A stops person B from supplying person C as he feels it's his customer. 

2. If person B and C transacted on person A's property, is the sale valid.

Q: I need clarification on giving good paid reviews to a website. 

The previous week one individual from UK reached me on WhatsApp to start working on a website called intrepid travelling links. I worked about 3 hours giving reviews to the site. They pay us using bitcoin which we will convert to our local banks. I think the company pays for good reviews to boost their ratings. Is it halal? 

By giving reviews. Should I use it. Continue work or leave it. Reviews are given after using company services but they do this way. Should I use it regularly. Or I should work and spend the money on needy people? Kindly share as per Shariah.

Q: If a person does not own any products, he cannot sell them according to the hadith. But what will be the ruling for customized products which are made on order? 

For example, furniture, customized packagings, custom business cards, custom printed clothes and many other things which are made only on order. These things cannot be kept in stock, because every product is made as per customer's requirements. Such products are neither with the seller nor with any factory. Because such products can be made only when the customer places the order, as per customer's requirements. 

So my question is whether I can take the order from the customer as per my price and give it to the factory? And can I take the full money from the customer in advance? Please clear my doubt.

Q: Regarding online trading, be it a commodity or currency, it is been said that it's not permissible based on both exchanges being deferred and if 1 exchange is deferred and the other is not then is it permissible? 

Can you explain further what is meant by deferred exchanges?

Q: I wanted to know the Share'ee ruling on "Buy 1 Get 1 Free" deals that many merchants offer in their stores. 

For example, buy 1 case of water, get 1 free. Or buy 1 cellular line and get 1 free. These are offers that are conditional on a purchase of 1 item at least. They're usually incentives to get the customer to buy them for various reasons (they want to remove the item from their shelves, or it's a sales/marketing strategy, or simply a competitive deal in a free market). Is such a deal permissible for the buyer, or is this considered riba? 

Another type of deal that's similar is buying a certain quantity to get a better deal than buying 1. For example, 1kg of tomatoes is RS 50 but 2 KG is 40 (a savings of RS 10). Is such a deal permissible for the buyer?

Q: I have recently heard of a new venture many of our Muslims are going into, it is the trading of gold on the forex market. I wanted to find out if it is permissible and if so then how, as no physical exchange of ownership takes place, and also if you own an item although it can depreciate in value it won't cease to exist as is what happens on this gold market.

Q: What is a salam transaction and the Shar’ee ruling that relates to it?