Is forex allowed in Islam?

Spot forex trading, which involves the immediate exchange of currencies, is generally considered permissible within the framework of Islamic finance. This form of trading aligns with the principles of immediate settlement and avoidance of interest.

Islamic finance adheres to principles that prohibit the accrual of interest, a practice commonly known as riba. This philosophy guides all financial transactions, including spot forex trading.

In addition to spot trading, BTCC also provides futures trading services. While futures trading involves contracts that specify future delivery dates and prices, it can still be conducted in a riba-free manner by ensuring immediate settlement.

The key aspect of spot forex trading that aligns with Islamic finance is the immediate execution of transactions. This ensures that no interest accrues over time, adhering to the riba-free philosophy.

BTCC's wallet service is another offering that aligns with Islamic finance principles. The wallet allows users to securely store and manage their cryptocurrencies, facilitating spot and futures trading without the accrual of interest.