Joe Profile picture
11 Oct, 9 tweets, 3 min read
Everyone keeps asking and I'm here telling:
- Forex is Haram for numerous reasons, it's all bets on someone else's CFD (Contract for Difference), plus the whole compensation model is Riba based.
- Anyone flexing like this is full of 💩 & most likely broke or a fraud.
Imagine you're let into a 2 horse race. You don't own the horses, and a person let's you in for free but he says: I can't let you in on the race, but if you can guess what point of the track the horse is at at a given minute, I'll give you a cut AFTER I take mine. 1/
So you put down $100 that the horse will be at point 4. You were right, so he takes the first $50, you take $150.
The guy that didn't guess it lost his $100. You don't own the horses. He doesn't either, nor does the guy that let you in! You made $50 on a guess. /2
The guy that let you in also bet with the race track. He used your money to pay for his position with them. He put half his bet on you & the other half on the other guy. Either way, whoever loses loses, and he always wins. That's why he'll even loan you the money to "trade" /3
He's in the business of skimming off your earnings, not actually raising horses and "investing" in them to become prize winners.
So you're gambling on someone else's gamble; 3 steps removed from any real ownership or assets. /4
You lose you end up with nothing, unlike if you actual owning the horse, you still have a horse at the end even if it lost. In this case, you have a lose, but no horse to ride away on. There no utility in this "trade", except taking someone else's money for being wrong. /5
It's the epitome of gambling. And this is only ONE of the problems! And before you say "He doesn't know what he's talking about! These religious scholars don't know the real world!" I've been researching Forex since 2007. /6
I'm an active trader in stocks and options. If I could make Halal money in Forex, I would. There are simply too many violations of clear-cut rules for Sharia compliance for there to be any semblance of permissibility for trading Forex. /7 and End.
One thing to add: There is Spot FX, Currency Futures, Spread bets, & trading CFDs. They all suffer the same.
As a retail consumer, you'll use a Market makers providing forex trades. This is the best thing out there in the English language on the topic:…

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More from @joebradford

12 Aug
As I sat with my mother today & spoke about life, a verse came to mind:
(یَوۡمَ لَا یَنفَعُ مَالࣱ وَلَا بَنُونَ ۝ إِلَّا مَنۡ أَتَى ٱللَّهَ بِقَلۡبࣲ سَلِیمࣲ) "On a day when not wealth nor children will benefit; but only one who comes to God with a sound heart."
[Shu'ara 88-89]/1
The word sound here is what caught my eye. Saleem is the word in Arabic. Saleem is one of those words used to refer to a person who has healed. It's also used to refer to an ill person whose healing is hoped for. /2
The Arabs would often use terms to refer to their opposites, as a way of injecting optimism into the conversation. For example, a long arduous and dangerous trek was called a "Victory Lap" (Arabic: Mafawiz) instead of a "Death hike". (Arabic: Mahalik). /3
Read 6 tweets
10 Aug
Don't let your self-loathing get the best of you. Being the average of your amazing peer group may make you think you're less than. You're still doing better than most *simply because you're in better company.* /1
A man saw a gathering. People were sitting remembering God's blessing and praising Him. He sat with them.

God sent angels to bless the gathering with forgiveness.. When they arrived, they found this man. /2
They went back and said "There's this guy. He just showed up and sat down. What about him?"

God said "I've forgiven him too. These are people who even the person who sits with them won't despair." (You can read the full narration in Bukhari). /3
Read 4 tweets
8 Jul
The following is a translation of "The description of the believing man and believing women" by Dhun-Nūn al-Masri (d. 245).
I'll be tweeting it out over the next few weeks. Image
A description of the believing man: His joy is in his face & his sorrow in his heart. He has the most open chest & most humbled soul; abstinent from ever harm, present for every good. Not envious or spiteful; he does not pummel, curse, chastize, or backbite others. /1 Image
He dislikes haughtiness and despises ostentation. His sorrow is long and his worries reach far. His silence is much; he is dignified, evocative, patient, and grateful. /2 Image
Read 12 tweets
12 Apr
Let's talk Zakat on Assets:
- 1st, assets you do not pay Zakat on.
- 2nd, assets you do pay Zakat on.
- 3rd, deductions and expenses that lower your Zakat liability.
A thread 🧵:
1st: There some types of assets that you will not pay Zakat on.
A- Personal assets: things like personal items, you home, car, etc. All of these items are not liable for Zakat.
B- Bad debts: Amounts that you have loaned to others & cannot be repaid due to default or denial.
C- Lost, Frozen, or Inaccessible wealth: this includes things like frozen bank accounts, money that you have lost, or amounts that you can't access due to contract or penalty.
Read 20 tweets
22 Aug 20
The following are some notes I wrote up a few years ago when researching dispute resolution under Islamic Law.
A number of these points are lost on people assuming the roles of mediators in the community, and I beleive there are two chief reasons for this:
1) They've only ever read about judges and therefore look to adjudication as the sole role that one plays in settling disputes.

2) Emotionally, as humans we are are attuned to retribution instead of reconciliation. Placing yourself in a position of power is ingratiating.
An important difference between a mediator and adjudicator:
- A mediator looks for cause and how to reconcile differences.
- An adjudicator looks for fault and how damages are remedied.
Read 9 tweets
18 Aug 20
So this small bio was sparked by some quick research I was doing about jobs that scholars had. A friend said to me the other day about famous speakers who act impervious to critique "They can't survive in the real world; they only exist in places where they are worshiped."
So I started looking at the bios of scholars: some were employees, others had businesses, others were merchants. What I find interesting is that using religion as a means to earn - not to serve - was universally condemned.
Take Ata', he was a basket weaver. He'd sell his wares to get by. Bishr b. Bakr al-Tanisi was a skilled shoemaker. Abu Ja'far al-Abbar, a needleworker. Abu Sahl al-Bajkhusti, a farmer. Ibrahim b. al-Iraqi al-Qazwini, a govt employee. AbdurRahman b Abd al-Qari, a treasurer.
Read 8 tweets

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