The simple answer is YES, but not 100%.

Let us explain. If we take the 13 stringent characteristics that define Islamic FOREX as a guide to 100% Shariah Compliancy, then Islamic FOREX has already met 12 requirements when Traded with Bounce Action & the MATHS Trading System. That gives Islamic FOREX a Shariah Compliancy Rating of 92%.

The final 13th requirement was to Trade with an Islamic Brokerage that dealt with issues of Leverage, Transaction and Ownership of Assets. We are currently working towards launching an Islamic Brokerage, so In’Shaa’Allah, these issues will also be solved soon to make Islamic FOREX or Halal FOREX 100% Shariah Compliant.

Interestingly, Ulama in other Islamic Countries do not see Leverage, Transaction & Ownership as problem as many Islamic countries allow FOREX Trading using Non-Muslim Brokers, who have not changed anything. If that is the case, then Islamic FOREX or Halal FOREX is already 100% Shariah Compliant when traded with Bounce Action & MATHS.

Also, just because something is NOT 100% Shariah Compliant, it does NOT make it Haram. The vast majority of activities we do in the UK is NOT 100% Shariah Compliant.

Money itself is not Shariah Compliant! Using a debit card or credit card is not Shariah Compliant. Mobile phone contracts are not Shariah Compliant. Buying anything on Interest-free credit is not Shariah Compliant. Even taking out a simple interest free loan is not Shariah Compliant because in Islam, the only form of a loan is charity – Qardh-Hasana.

Similarly, FOREX in the UK is not 100% Shariah Compliant, only 92%. If nothing else in our lives is 100% Shariah Compliant, then why do we make such a big fuss about Islamic FOREX not being 100% Shariah Compliant?

We at Islamic FOREX, are working towards creating a Shariah Compliant version of FOREX called, yes you guessed it, Islamic FOREX that will be 100% Shariah Compliant In’Shaa’Allah.

Our first step was to define what Islamic FOREX is. So we defined Islamic FOREX with the 13 stringent characteristics and set ourselves a very high standard to meet.

Our second step was to create from scratch, right from the beginning, a completely new “Trading Engine” that would incorporate Islamic Principles in its foundation and be Shariah Compliant to meet the high standards we created. The Trading Engine must provide the Framework to manage or eliminate Gambling, Guessing & Greed. Furthermore, it must provide an unprecedented way of managing Risk & Loss. These are very high specifications to meet, especially when you consider the fact that no one has been able to create a new Trading Engine for nearly 100 years!

Thanks to Allah (SWT), it took us over 12 years to secretly develop the worlds first Islamic Trading System. We would like to introduce to the world “Bounce Action”, the worlds first Islamic Trading Engine. We would also like to introduce the MATHS Trading System. MATHS provides the Trade Setups, Trading Strategies and Trading Rules to practically trade the financial markets.

Bounce Action together with MATHS provides the Shariah Compliant Islamic Trading Solution required for Islamic FOREX and of course, all Islamic Financial Trading. Now you can Trade Stocks, Shares, Indices, FOREX, Commodities and Crypto’s Islamically.

We are currently on our third and final step – to create a fully Shariah Compliant Islamic Brokerage. This is a huge mammoth task. No one has done this before. We have already created the Islamic architecture, solving many of the Shariah Compliancy issue. It is just a matter of money & implementation. If anyone is interested in joining us in launching the worlds first Islamic Brokerage, get in touch with us.