Trading rulings

Are Islamic or swap-free trading accounts halal?

Answered by the ShariaQuant team

Usually not, and the name does a lot of quiet work. Swap free removes the overnight interest charge and keeps the leverage, keeps the deferred settlement, and still never gives you the asset. Removing one of four problems does not fix the contract.

Swap-free is not halal

This is Shariah screening and education, not financial advice. Rulings on newer products differ between scholars, so where a question is disputed we say so rather than pick a side for you. If your situation is unusual, ask your own scholar.

More on trading rulings

Is futures trading halal?Is margin trading halal?Is using leverage halal?Is day trading halal?

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