What is the Islamic position on CFD trading ?
Fatawa Question
What is the Islamic position on CFD trading ? I know spread betting is not allowed and is fundamentally different to CFD Trading as the former is a synthetic market that can be manipulated by the market makers. Additionally, with regards to ‘owning the stock’, an individual does not own the stock if bought via a stockbroker but is the beneficial holder and thus still receives dividends. CFD trading is the same in that the individual does not ‘own’ the shares but still receives dividends. I know buying stocks and shares is permissible and thus come to the same conclusion with regards to buying and selling using CFD trading, which allows leveraging.
Fatwa
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Publisher
al-Qalam Shariah Scholar Panel
Publication Date
2014-09-08
Country of Publication
United Kingdom
Main Subjects
Financial and Accounting Sciences
Religion
Law
Islamic Studies
Topics
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-726291
American Psychological Association (APA)
al-Qalam Shariah Scholar Panel (Manchester, England). 2014-09-08. What is the Islamic position on CFD trading ?. . Manchester England : al-Qalam Shariah Scholar Panel.
https://search.emarefa.net/detail/BIM-726291
Modern Language Association (MLA)
al-Qalam Shariah Scholar Panel (Manchester, England). What is the Islamic position on CFD trading ?. Manchester England : al-Qalam Shariah Scholar Panel. 2014-09-08.
https://search.emarefa.net/detail/BIM-726291
American Medical Association (AMA)
al-Qalam Shariah Scholar Panel (Manchester, England). 2014-09-08. What is the Islamic position on CFD trading ?. Manchester England : al-Qalam Shariah Scholar Panel.
https://search.emarefa.net/detail/BIM-726291
