Is day trading haram? It’s a question that many Muslim traders ask, and with good reason. After all, Islam has strict rules about gambling and speculation. So is day trading halal or haram?
A Closer Look
What is Haram?
There are many different types of haram behaviours that people can engage in. Some of these behaviours are more serious than others, and can lead to negative consequences for both the individual and society as a whole. Here are some examples of common haram behaviours:
-Lying: Lying is considered to be a major sin in Islam, and is strictly forbidden. Lying can damage relationships, cause harm to others, and lead to mistrust and suspicion.
-Cheating: Cheating is also considered to be a major sin in Islam, and is strictly forbidden. Cheating can damage relationships, cause harm to others, and lead to mistrust and suspicion.
-Stealing: Stealing is considered to be a major sin in Islam, and is strictly forbidden. Stealing can damage relationships, cause harm to others, and lead to mistrust and suspicion.
–Gambling: Gambling is considered to be a major sin in Islam, and is strictly forbidden. Gambling can damage relationships, cause harm to others, and lead to mistrust and suspicion.
-Drinking alcohol: Drinking alcohol is considered to be a major sin in Islam, and is strictly forbidden. Drinking alcohol can damage relationships, cause harm to others, and lead to mistrust and suspicion.
-Using drugs: Using drugs is considered to be a major sin in Islam, and is strictly forbidden. Using drugs can damage relationships, cause harm to others, and lead to mistrust and suspicion.
-Eating pork: Eating pork is considered to be a major sin in Islam, and is strictly forbidden. Eating pork can damage relationships, cause harm to others, and lead to mistrust and suspicion.
These are are some of the commonly known haram things. Read the next section to know about whether day trading is haram.
Is Day Trading Haram?
When it comes to day trading, there is no definitive answer as to whether or not it is halal (permissible) or haram (forbidden). This is because there are a number of factors to consider, such as the type of trade being carried out and the intention of the trader.
Some Islamic scholars view day trading as a form of gambling, which is forbidden in Islam, while others argue that it can be permissible if the trader has the intention of making a profit. Ultimately, it is up to the individual to make a decision based on their own religious beliefs.
Also Read: Is Cryptocurrency Halal?
Here are some things to consider if you’re wondering whether day trading is halal or haram:
The type of trade: Is the trade based on speculation or is there an underlying asset that is being bought and sold? If the latter, then it may be permissible as long as the trader intends to sell at a profit.
The intention of the trader: Is the trader’s intention to make a profit or to gamble? If it is the latter, then day trading would be forbidden.
The amount of risk involved: Is the trader taking a large amount of risk in their trade? If so, then it may be seen as gambling and not permissible.
These are just some of the factors to consider when determining whether day trading is halal or haram. Ultimately, it is up to the individual to make a decision based on their own religious beliefs.
Source
Reference – The above information is verified via Islamic Finance Guru.
Bottom Line
When it comes to day trading, there is no easy answer as to whether or not it is haram. While some people may feel that day trading is gambling and thus haram, others may see it as a way to make a quick and profitable investment.
Ultimately, it is up to the individual to decide whether or not they believe day trading is halal or haram. However, it is important to remember that day trading does come with risks, and it is important to be informed about those risks before making any decisions. Thanks for reading!
