We found 11 online brokers that are appropriate for Trading Halal Cryptocurrency Investment Platforms.
The Muslim community has often debated whether Bitcoin, Litecoin, Ripple, Ethereum and other cryptocurrencies are halal, meaning permissible under Sharia Law. Some believe cryptocurrencies to be halal, while others in the Islamic religion argue trading cryptocurrency is haram, and therefore forbidden.
Let us discuss if Cryptocurrency is Halal.
Recently, cryptocurrency has been treated as an established and viable investment product, but because it is new in the financial markets, there have been a series of questions and concerns from Islamic as well as commercial perspectives.
The speculative nature of digital currency is frequently debated among Muslim scholars. Companies dealing in cryptocurrency attempt to justify that trading its trade is completely halal and adheres to Sharia Law.
One company, named OneGram, backs a unit of cryptocurrency with a gram of physical gold with the primary goal to limit speculation on the currency. The company attempts to justify its investment as completely permissible under Sharia Law.
OneGram was founded by Ibrahim Mohammed and he argues his creation is completely halal as it is backed by gold, one of the first forms of money.
He further added that OneGram cryptocurrency is trying its best to adhere to the Sharia rules and regulations.
There are dozens of such advisory companies that offer opinions on whether cryptocurrency and other such financial instruments or products are meeting Sharia Law.
One Malaysian company, named HelloGold, launched an initial cryptocurrency offering backed by gold in 2018. Its chief marketing officer, Manuel Ho, said the coins comply with Sharia Law as transactions involving them occurr within a defined period. This makes the currency less volatile.
One more example is the UAE-based company, Halal Chain, which offers cryptocurrency coins as linked to data on permissible goods.
Only around 20 to 30 percent of banking systems in Southeast Asian and Gulf countries follow Sharia Law. However, Muslims in these countries avoid unethical banking system. Instead they use conventional finance systems if their instruments offer higher returns.
It is crucial to understand that the issue of religious permissibility is important for Muslim investors in order to help them determine whether a financial instrument or product is halal or haram.
According to Ziyaad Mohamed of HSBC in Malaysia, there is a lot of debate surrounding cryptocurrency and several uncertainties with the moral side of their trading.
No Sharia authorities have yet ruled that cryptocurrency is halal, but several governments are worried about its instability. The central banks of UAE and Saudi Arabia have warned people about the risks of trading in cryptocurrency.
Such a situation has left Muslim investors confused about whether to follow the judgments of scholars or continue trading as others investors across the world are.
Back in 2014, when the world of cryptocurrency was very new, California-based academic, Monzer Kahf, deemed digital currency as a legitimate exchange medium.
Islamic jurists in South Africa, have also argued that Bitcoin and other cryptocurrencies are socially acceptable.
More recently however, Durban-based Derul Ihsan Centre refrained from investing in digital coins. Similarly, scholars in Britain, India, and Turkey have labelled the instruments as morally impermissible.
Moreover, cryptocurrencies differ from the underlying commodities, businesses, or projects that they invest in, and it is therefore restrictive to assert a blanket Sharia rule for all of them.
There is one further problem in that several scholars have deemed the moral consciousness of currency trading as very complex. They are yet to decide whether cryptocurrencies can even be considered as currencies. They are yet to say whether trading in cryptocurrency is halal or haram.
Some still argue more evidence is required to support this view.
This topic seems to be a never-ending debate, and it is frequently discussed whether Bitcoin, Litecoin, Eretheum, Ripple, and other such cryptocurrencies, are ethical or unethical.
In Sharia Law, receiving and paying interest on investments is forbidden. It also suggests one should not invest in such financial instruments and products which follow unethical modes of business, such as investing in gambling or alcohol companies.
In this article, titled 'Is Cryptocurrency Halal?', we have attempted to find the true answer to the topic at hand and why investment is deemed as halal or haram in the Islamic religion. Some scholars believe cryptocurrency trading is halal, while many Muslims argue it to be haram. Others say a certain segment of cryptocurrency trading is ethical while the rest is not.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
We have conducted extensive research and analysis on over multiple data points on Is Cryptocurrency Halal to present you with a comprehensive guide that can help you find the most suitable Is Cryptocurrency Halal. Below we shortlist what we think are the best Halal Cryptocurrency Investment Platforms after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Is Cryptocurrency Halal.
Selecting a reliable and reputable online Halal Cryptocurrency Investment Platforms trading brokerage involves assessing their track record, regulatory status, customer support, processing times, international presence, and language capabilities. Considering these factors, you can make an informed decision and trade Halal Cryptocurrency Investment Platforms more confidently.
Selecting the right online Halal Cryptocurrency Investment Platforms trading brokerage requires careful consideration of several critical factors. Here are some essential points to keep in mind:
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
When choosing a broker for Halal Cryptocurrency Investment Platforms trading, it's essential to compare the different options available to you. Our Halal Cryptocurrency Investment Platforms brokerage comparison table below allows you to compare several important features side by side, making it easier to make an informed choice.
By comparing these essential features, you can choose a Halal Cryptocurrency Investment Platforms broker that best suits your needs and preferences for Halal Cryptocurrency Investment Platforms. Our Halal Cryptocurrency Investment Platforms broker comparison table simplifies the process, allowing you to make a more informed decision.
Here are the top Halal Cryptocurrency Investment Platforms.
Compare Halal Cryptocurrency Investment Platforms brokers for min deposits, funding, used by, benefits, account types, platforms, and support levels. When searching for a Halal Cryptocurrency Investment Platforms broker, it's crucial to compare several factors to choose the right one for your Halal Cryptocurrency Investment Platforms needs. Our comparison tool allows you to compare the essential features side by side.
All brokers below are Halal Cryptocurrency Investment Platforms. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Halal Cryptocurrency Investment Platforms that accept Halal Cryptocurrency Investment Platforms clients.
Do not invest unless you are prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
Broker | IC Markets | eToro | XTB | Pepperstone | AvaTrade | EasyMarkets | SpreadEx | FXPro | Plus500 | Admiral | webull |
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Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076 | FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049), Central Bank of Ireland | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI) | Financial Conduct Authority (FCA) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Securities Commission of the Bahamas (SCB) | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546, Plus500SEY Ltd is authorised and regulated by the Seychelles Financial Services Authority (Licence No. SD039) FSA, Plus500SG Pte Ltd (UEN 201422211Z) holds a capital markets services license from the Monetary Authority of Singapore (MAS) for dealing in capital markets products (License No. CMS100648-1), PLUS500AU (PTY) LTD is regulated by the FSCA (Financial Sector Conduct Authority), Plus500 adheres to MiFID rules, Plus500EE AS is authorised and regulated by the Estonian Financial Supervision and Resolution Authority (Licence No. 4.1-1/18), Plus500AE Ltd is authorised and regulated by the Dubai Financial Services Authority (F005651) DFSA | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) | Securities Investor Protection Corporation (SIPC), Financial Industry Regulatory Authority (FINRA) |
Min Deposit | 200 | 100 | No minimum deposit | 200 | 100 | 100 | 1 | 100 | 100 | 200 | 50 |
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Used By | 180,000+ | 30,000,000+ | 1,000,000+ | 400,000+ | 300,000+ | 142,500+ | 10,000+ | 1,866,000+ | 24,000,000+ | 10,000+ | 5,000+ |
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Platforms | MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android | Web Trader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, Web Trader, TradingView, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, cTrader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
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Risk Warning | Losses can exceed deposits | 76% of retail investor accounts lose money when trading CFDs with this provider. | 76-85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 75-95 % of retail investor accounts lose money when trading CFDs | 71% of retail investor accounts lose money when trading CFDs with this provider | Your capital is at risk | Losses can exceed deposits | 75.78% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider | 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. | Losses can exceed deposits | Your capital is at risk |
Demo |
IC Markets Demo |
eToro Demo |
XTB Demo |
Pepperstone Demo |
AvaTrade Demo |
easyMarkets Demo |
SpreadEx Demo |
FxPro Demo |
Plus500 Demo |
Admiral Markets Demo |
Webull Demo |
Excluded Countries | US, IR, CA, NZ, JP | ZA, ID, IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, SA, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, MG, MK, KZ, GD, FJ, PT, BB, BM, BS, AG, AI, AW, AX, LB, SV, PY, HN, GT, PR, NI, VG, AN, CN, BZ, DZ, MY, KH, PH, VN, EG, MN, MO, UA, JO, KR, | US, IN, PK, BD, NG , ID, BE, AU | AF, AS, AQ, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, VU, VG, EH, ES, YE, ZW, ET | BE, BR, KP, NZ, TR, US, CA, SG | US, IL, BC, MB, QC, ON, AF, BY, BI, KH, KY, TD, KM, CG, CU, CD, GQ, ER, FJ, GN, GW, HT, IR, IQ, LA, LY, MZ, MM, NI, KP, PW, PA, RU, SO, SS, SD, SY, TT, TM, VU, VE, YE | US, TR | US, CA, IR | MY, BE, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO | US, CA, JP, SG, MY, JM, IR, TR | UK, AU, SA, AL, DZ, AS, AD, AO, AI, AQ, AG, AR, AM, AW, AT, AZ, BS, BH, BD, BB, BY, BE, BZ, BJ, BM, BT, BO, BQ, BA, BW, BV, BR, IO, BN, BG, BF, BI, CV, KH, CM, CA, KY, CF, TD, CL, CX, CC, CO, KM, CD, CG, CK, CR, HR, CU, CW, CY, CZ, CI, DK, DJ, DM, DO, EC, EG, SV, GQ, ER, EE, SZ, ET, FK, FO, FJ, FI, FR, GF, PF, TF, GA, GM, GE, DE, GH, GI, GR, GL, GD, GP, GU, GT, GG, GN, GW, GY, HT, HM, VA, HN, HK, HU, IS, IN, ID, IR, IQ, IE, IM, IL, IT, JM, JP, JE, JO, KZ, KE, KI, KP, KR, KW, KG, LA, LV, LB, LS, LR, LY, LI, LT, LU, MO, MG, MW, MY, MV, ML, MT, MH, MQ, MR, MU, YT, MX, FM, MD, MC, MN, ME, MS, MA, MZ, MM, NA, NR, NP, NL, NC, NZ, NI, NE, NG, NU, NF, MP, NO, OM, PK, PW, PS, PA, PG, PY, PE, PH, PN, PL, PT, PR, QA, MK, RO, RU, RW, RE, BL, SH, KN, LC, MF, PM, VC, WS, SM, ST, SN, RS, SC, SL, SG, SX, SK, SI, SB, SO, ZA, GS, SS, ES, LK, SD, SR, SJ, SE, CH, SY, TW, TJ, TZ, TH, TL, TG, TK, TO, TT, TN, TR, TM, TC, TV, UG, UA, AE, GB, UM, UY, UZ, VU, VE, VN, VG, VI, WF, EH, YE, ZM, ZW, AX |
You can compare Halal Cryptocurrency Investment Platforms ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Halal Cryptocurrency Investment Platforms for 2024 article further below. You can see it now by clicking here
We have listed top Halal Cryptocurrency Investment Platforms below.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.