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Islamic (Halal) Investing in Shares

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Hi,

I am intending to use the Spread betting account for Short Selling, in order to take advantage of the (short term) downward trend of price i.e. Sell at high first then Buy at low to gain profit.

 

In the Forward contract section of Spread betting account, Im not charged any interest on the Margin/Leverage (provided by IG). 

 

Rather I am charged a higher spread. That is it.

 

Is it a form of halal investing as per the rules of Islamic laws?

 

Thanks. 

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Guest bxa121

A quoick google search suggests that spread betting is not halal. From my limited understanding it seems for it to be halal you have to own the underlying stock. Therefore betting against the prie movement without owning the underlying stock itself is not Islamically lawful. 

 

Hope this helps

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