Trading on Etoro is Islamically prohibited for the reasons we will review together
Peace and blessings upon you, dear brothers and sisters:
I hope you are all doing well. Today we will talk together about a platform that spends heavily on advertising campaigns,
and is one of those platforms that deludes you into believing you will become the richest person in the world within 5 seconds,
The platform we will talk about is Etoro, and for your information it is affiliated with the Zionist entity,
You can verify that yourself from here on the official Wikipedia
What is Etoro?
Know, dear reader, that most trading companies that deceive you with promises of vast wealth — which is the hallmark of their cheap advertising — are websites or platforms affiliated
with Zionists that list their addresses in other countries to hide the truth, especially in the Arab world. This means the parent company is Zionist, but it establishes
a branch in another country, possibly under a different name, to deceive you,
And for your information, some Islamic scholars do not prohibit dealing with these trading companies solely because they are Jewish. However, we know that most
major tech companies have Jewish roots, and there is no need to give examples as this is well known and publicly acknowledged.
Additionally, most of these companies have officially relocated their headquarters to Israel,
Back to our topic: Etoro is the most well-known and is practically the only company that has recently penetrated the Arab world through numerous methods and tricks,
and many young people have lost thousands of dollars — money they worked hard to earn or save — after being deceived
by false and fraudulent advertisements. Yet we still see on YouTube people saying things like:
Watch me earn $500 or $1,000 from Etoro in just five minutes — and the presenter himself admits his account is brand new, so how is that possible, my friend?! The whole point of this is to delude you into rushing headlong toward
becoming the next Sari Arabi, and as soon as you register through them they earn a commission for each victim they sign up like you, thus recovering their real losses and starting to actually accumulate profits :/
The topic in greater depth
These platforms operate on a system called Contracts for Differences, and you can learn more about them here. It is abbreviated as "Contract for Differences"
and means CFDs. To simplify: it is an agreement between the victim — that's you — and the broker, for example (Etoro)
where each party is obligated to pay the other a commission based on the price difference of certain assets such as gold, the dollar, the euro, Tesla stock, or Google stock for example. This
commission is agreed upon at the moment of entering the contract or agreement, and it holds until the contract or this deal (the lie) is terminated.
You do not actually own any stock when buying a stock CFD.
This sentence will never be found on the Arabic version of the website — it only exists on the English version — and it means that when you buy a stock on
the platform, you do not actually own it.
This is a huge — if not the biggest — part of the illusion or fraud: you are buying something virtual that you do not actually possess. You could compare it to betting on
a wrestling match or a horse race to predict the winner — it is gambling in the common sense of the word.
The difference between real stock trading and CFD trading
Real stock trading means actually owning the asset — you own something real — unlike CFD trading, as we mentioned, where you own nothing
in reality; it is a foolish wager with no basis in truth, and you are always the losing party in that battle.
In real stock trading you have the right to buy and sell — meaning you own something real like real estate and have complete freedom to buy or sell whenever you wish,
just like in the stock market.
When dealing with real stocks, you do so through a broker who has access to the stock exchange and financial markets, and this broker could be
a bank for example, or a financial stockbroker.
Owning a real share grants you an actual percentage in the relevant company, depending on the number of shares you own
and their proportion of the total company, and you are entitled to a share of profits that are typically paid every six months, which depends on the company's transactions and its success in
the market or its dealings.
On the other hand, CFD trading is the complete opposite — you own a virtual thing that has no underlying asset and you have no actual stake in the company in the real world.
Simply put, to summarize what we have said:
It is not permissible to trade or deal in something virtual that you do not actually own in the real world, and this platform is entirely built on that premise — it is akin to a gambling game,
unlike actually owning shares in the conventional sense, where you have the right to buy and sell and hold an actual stake in the company — and there is nothing Islamically wrong with that, and God knows best.
Here are some examples of Islamic rulings (fatwas) that prohibit dealing in CFDs:
The strange thing is that many websites and blogs permit dealing with these types of companies or this type of trading, assuming it resembles
the conventional stock exchange where you own a share in an asset that actually exists in the real world and you hold a stake in the company.
They cite rulings and statements from scholars who permitted real trading to mislead the victim into thinking both are the same with no difference between them — when in reality the gap is as wide as the sky from the earth.
And there are many websites that carry in fine print that CFDs are products and transactions that may carry risk or potential benefit,
since they are linked to foreign exchange, bonds, commodities, financial indices, and many other underlying variables.
Finally, a piece of advice — know this well:
* There are people who have lost a great deal of money and want to recover their losses by trapping you in this snare to benefit from you.
* The differences between various matters can be significant; they may appear similar in meaning but differ greatly in their details, and one must exercise caution and research thoroughly before embarking
on any trade or venture. Indeed, "those who seek counsel are never disappointed."
* Do not take a religious ruling from those unqualified to give it, and do not rely on personal whims lest you lose your way.
* We are not financial advisors, but we have researched this matter in depth and have found many victims — and we do not want you to become one of them. We have attached the necessary
sources and religious rulings so that you may consult your heart and ponder the matter carefully.
And finally
All we ask of you is a prayer and to spread this news everywhere so it reaches the many people who need this article and won't fall victim to financial loss
and fraud built on illusions that have no basis in truth.
Through this website you can easily search for fraudulent and scam websites.
Stay well
Peace and God's mercy and blessings be upon you ♥
