PERMISSIBILITY OF DAY TRADING

As Salamu Alaikum

QUESTION:

Is it permissible to day trade stocks. Kindly Share Fatwa Jazakallah

Wa Alaikum As Salaam,

ANSWER:

Day trade stocks entail buying stocks and selling them on the same day. It will be permitted to do such trading when one owns and has possession of the stocks he is selling. He cannot sell stocks before gaining ownership and possession of them. He also cannot sell or buy products that are considered to be Haram in the Shariah.

And Allah Knows best

Mufti Waseem Khan

03/12/2021