Trading gold on MT4 Exness, the halal way!

Gold has always been popular in trading because of its stability and long history. In this article, you will learn how to trade gold on the Exness platform in an Islamic compliant manner.

Is gold trading in MetaTrader 4 halal or haram?

Muslim traders wonder whether it is possible to trade gold on the MetaTrader 4 platform and whether it is Shariah compliant. This concern is justified by the fact that Islam encourages ethical behavior and prohibits usury (riba) or uncertainty (gharar).

MetaTrader 4 (MT4) is a popular online trading platform that is favored by millions of traders around the world to trade a variety of assets (including currencies, stocks, commodities and metals) MT4 has a number of features that make it a versatile and accessible trading platform.

Gold is always the most reliable and one of the popular assets to trade, and its reliability is proven by the following points:

• Gold always retains its value in the long term (This is especially important in times of unstable economies)
• Gold is not subject to inflation (Because it is impossible to produce gold by hand)
• In many cultures, gold is of great importance (Used as a means of saving and exchange)

Is gold trading on MetaTrader 4 Halal compliant?

Halal in Islam means what is allowed under Shariah (Islamic law). In order for finance and trading to be halal, it must be transparent, fair and not include prohibited elements such as interest (riba) and excessive risk (gharar).

Gold trading in Muslims can be considered halal if it complies with certain conditions:

• The gold being sold must have a physical form.
• Transactions must be settled without any delays or postponements.
• The price of gold should be determined based on the real market price, without speculation.
• Trades should not have interest payments.
• The parties involved should have equal information and the transaction should be based on mutual agreement.
• All transactions should be transparent and clear, i.e. without hidden conditions.

Is gold trading halal in MetaTrader 4?

Having studied the basic conditions for halal gold trading, we can check if trading on MetaTrader 4 meets the conditions.

The gold being traded must have a physical form.

One of the important conditions for trading gold is that the gold being traded must have a physical form. In the case of MT4 trading, traders do not physically own the gold but own the contracts that provide it. Some scholars consider such trading to be haram, as one cannot own gold.

However, other scholars believe that the contracts are backed by real gold and if the trader has the ability to physically receive the gold under the contract, the transaction is considered halal.

So it can be considered that trading on MT4, which is based on physical gold, and if it is possible to get physical delivery, then such trading is halal.

Transactions must be settled without any delays or postponements.

This point is related to the fact that usury (riba) is forbidden in Islam, the essence of which is to receive or pay interest or fees for late payments. Such transactions are considered haram.

In the case of MetaTrader 4, some brokers may offer contracts that involve deferred settlements – which automatically makes trading haram.

To trade halal, you should look for a broker that offers an Islamic (Muslim) account, such as Exness who can connect such an account upon request to support. Such brokers can offer spot contracts for gold trading in which settlement takes place within 24 hours, which makes such contracts halal.

The price of gold should be determined based on the market price, without speculation.

In case of using MetaTrader 4 platform for trading, the price will be determined based on the spot price, which is the current market price.

Brokers that offer gold trading on the MT4 platform are strictly regulated and their prices are transparent and based on the real market price of gold. Thus such trading is considered halal.

Usury and high risk

As described above, usury (riba) and high risk (gharar) are forbidden in Islam, and trading that involves loans or high leverage is considered haram.

In trading on the MT4 platform, traders can use minimal leverage. Some brokers provide Islamic accounts (e.g. Exness) that are Shariah compliant and these accounts have no commissions and use low leverage.

Consent and information

In halal trading, all parties must have the same information and they are accompanied by mutual consent. This implies that cheating, manipulation and exploitation is considered haram.

In MetaTrader 4, the broker must provide the trader with all information about the contract, price, risks and conditions and the trader must have the freedom to choose the broker, the contract and the size of the trade. If the broker provides transparent information and the trader gives informed consent, the trade can be considered halal.

MetaTrader 4 Halal Trading Conclusion

In order for a Muslim trader to trade halal, it is necessary to carefully study all the terms and conditions offered by brokers. In trading gold on MT4, you should choose a broker that provides spot gold trading contracts, transparent prices, low leverage and Islamic accounts. You should scrutinize the terms and conditions and get advice from a financial expert in Shariah. By doing so, you will be assured that trading gold on MetaTrader 4 is in line with your religious beliefs and ethical principles.

Frequently Asked Questions

Is gold trading halal or haram?

Gold trading can be halal if it is Shariah compliant: no riba and gharar, transparent transactions and physical delivery.

Can I trade on MetaTrader 4 Halal?

Yes, if you use an Islamic account (Swap-free account) on Exness, trading will comply with Islamic regulations.

What documents do I need to open an Islamic account?

To open an account, you will need an ID (passport or driver’s license) and proof of residence (utility bill or bank statement).

Can I trade XAU/USD halal?

Yes, XAU/USD trading can be halal if an Islamic account is used and all Shariah conditions are followed.