Online trading: issues and syariah perspective (forex) / Nurfarzana Huda Shahanand … [et al.]

The forex (foreign exchange) business, or better known as foreign exchange, is currently a business that has quite large and significant influence on society. This is demonstrated by the rise in circulation and activity in the capital market, where daily transaction can reach billions of dollars. Since this business activities can lead their investors became wealthy in short period and generate huge amount of profit, it has become a visually appealing and alluring business model for the majority of people to participate in their business. The forex trading business is included in the category of contemporary Islamic legal issues. As a result, it has the legal status of ijtihadiyyah, which falls under the category of law fi ma la nasha fih (legal concerns lack a clear legal text reference).

Users of forex trading are not the only ones who participate in this trade with large capital; individuals with less capital can also do so. either with your own money or money borrowed from the capital market or the owner of the funds that is actually being used for Forex trading. Forex itself is the largest trading in the world. For that , if people want to involved in forex then skills and knowledge are needed . This forex trading brings the bad effects to the forex users when there is a lost, because not only harmful in terms of money but time is also the main loss in entering the forex market. (AMRI, 2021)