Managing a Forex account and getting paid for it

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

FTMO is a proprietary trading firm that allows traders to trade in forex using a funded account. The account belongs to and is fully funded by FTMO, and competent retail traders are afforded the opportunity to trade risk-free. The retail trader is granted access to several platforms and resources. The trader receives 70% of profits accrued while all losses are borne by FTMO.

It is important to note that online forex trading is impermissible, as it is a form of non-deliverable trading agreements, where delivery of the currencies never occurs. There is no actual trading and exchanging of currencies. One merely takes a position on the movement of a currency pair. 

Online forex trading is tantamount to gambling, where one will be staking his wealth against the broker.

Accordingly, it is not permissible to manage a funded forex account as it will be assisting in sin, which is prohibited.[1] Allah Taala says:

وَلَا تَعَاوَنُوا عَلَى الْإِثْمِ وَالْعُدْوٰنِ (مائدة 2)

Translation: "And do not help each other in sin and aggression." (Al-Maaidah: 2)

And Allah Ta’āla Knows Best

Shakib Alam

Student - Darul Iftaa

Pennsylvania, USA 

Checked and Approved by,

Mufti Ebrahim Desai.