Numerainternational.com Review

Based on looking at the website, Numerainternational.com appears to be a Forex and CFD brokerage offering various trading instruments and account types.

However, as an Islamic-focused review, it’s crucial to highlight that the core business model of Forex and CFD trading, as presented, involves elements that are generally considered impermissible haram in Islam due to the presence of interest riba, excessive uncertainty gharar, and speculative elements akin to gambling.

Therefore, we cannot recommend Numerainternational.com or similar platforms for a Muslim audience seeking ethical financial engagement.

Here’s an overall review summary:

• Business Model: Forex and CFD trading, which often involves interest riba and excessive speculation gharar.
• Company Registration: Registered in Anguilla with Company Registration Number A000000993, operational since 2022.
• Transparency: Provides company registration details and operational start date.
• Product Offering: Includes Forex, CFDs, Indices, Metals, Commodities, Bonds, and Cryptocurrencies.
• Account Types: Classic, Standard, and VIP accounts with varying minimum deposits $2,000, $10,000, $100,000 respectively.
• Leverage: VIP account mentions 1:400 leverage, a common feature in speculative trading.
• Ethical Compliance Islamic Perspective: Fails to meet key Islamic finance principles due to the inherent nature of leveraged trading, potential for interest charges, and speculative investment.

While Numerainternational.com presents itself as a platform for maximizing gains in the forex market, the underlying mechanisms typically involve contracts for difference CFDs and leveraged trading.

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These frequently necessitate interest-based financing and introduce a high degree of uncertainty, which are direct contradictions to Islamic financial principles.

For Muslims, engaging in such activities can lead to problematic financial outcomes and ethical dilemmas.

It’s always best to seek avenues of wealth generation that align with Sharia principles, focusing on real assets, ethical partnerships, and transparent, interest-free transactions.

Instead of engaging in speculative trading platforms like Numerainternational.com, Muslims should explore ethical, Sharia-compliant alternatives for wealth creation and investment.

These typically involve direct investment in tangible assets, participation in ethical businesses, or utilization of Islamic financial products that adhere to principles of justice, transparency, and risk-sharing.

Here are some best alternatives for ethical wealth generation, focusing on real assets and permissible business activities:

• Halal Real Estate Investment Platforms: These platforms allow individuals to invest in physical properties, generating rental income or capital appreciation through Sharia-compliant structures.
  • Key Features: Investment in tangible assets, rental income, Sharia-compliant financing.
  • Average Price: Varies widely depending on investment size, typically starting from a few thousand dollars.
  • Pros: Investment in real, tangible assets. potential for stable income. generally low correlation with stock market volatility. aligns with Islamic principles.
  • Cons: Can be illiquid. requires significant capital. market fluctuations can affect value.
• Ethical Crowdfunding for Small Businesses: Participate in funding small, ethical businesses through profit-sharing or equity-based models, avoiding interest-based lending.
  • Key Features: Direct investment in real businesses, profit-sharing or equity ownership, supporting ethical enterprises.
  • Average Price: Investments can range from a few hundred to thousands of dollars.
  • Pros: Supports entrepreneurship. potential for high returns if businesses succeed. direct impact. Sharia-compliant.
  • Cons: Higher risk as business success isn’t guaranteed. illiquid investment. due diligence is crucial.
• Sharia-Compliant Equity Funds: Invest in publicly traded companies that meet strict Sharia screening criteria, avoiding industries like alcohol, gambling, and conventional finance.
  • Key Features: Diversified portfolio of ethically screened stocks, professional management, liquidity.
  • Average Price: Investments can start from a few hundred dollars.
  • Pros: Diversification. professional management. relatively liquid. adheres to Islamic investment principles.
  • Cons: Market volatility. management fees. returns dependent on equity market performance.
• Commodity Trading Spot Contracts: Engage in spot trading of physical commodities like gold, silver, or agricultural products, where immediate exchange and possession occur, avoiding speculative futures contracts.
  • Key Features: Trading of tangible goods, immediate exchange spot, avoids leverage and interest.
  • Average Price: Varies depending on the commodity and quantity, from hundreds to thousands of dollars.
  • Pros: Trading in real assets. potential for hedging against inflation. aligns with Sharia principles if conducted as spot transactions.
  • Cons: Requires physical storage or trusted custodianship. price volatility. liquidity can be an issue for some commodities.
• Islamic Microfinance Institutions: Support small businesses and individuals in underserved communities through interest-free loans qard hassan or profit-sharing partnerships.
  • Key Features: Social impact, interest-free lending, community development.
  • Average Price: Donations or investments vary, often starting small.
  • Pros: High social impact. spiritual reward. promotes economic empowerment. Sharia-compliant.
  • Cons: Returns may be non-financial. higher administrative costs. risk of default.
• Direct Investment in a Halal Business Venture: Partner directly with an individual or group to start or grow a business that operates under Islamic ethical guidelines.
  • Key Features: Active participation, direct control, profit-sharing, real economic activity.
  • Average Price: Highly variable, from thousands to much larger sums.
  • Pros: Direct control and influence. potential for significant returns. aligns perfectly with Islamic business ethics.
  • Cons: High risk. requires significant time and effort. illiquid.
• Sukuk Islamic Bonds: Invest in Sharia-compliant financial certificates that represent ownership in tangible assets or specific projects, generating returns from asset rentals or project profits, not interest.
  • Key Features: Asset-backed securities, regular distributions, Sharia-compliant financing.
  • Average Price: Minimum investment can be high, often in thousands or tens of thousands.
  • Pros: Diversification. typically lower risk than equities. supports real economic activity. adheres to Islamic principles.
  • Cons: Less common than conventional bonds. liquidity can be an issue in some markets. limited variety.

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IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Numerainternational.com Review & Ethical Considerations

Based on checking the website, Numerainternational.com positions itself as a brokerage firm enabling clients to trade various financial instruments, including Forex, CFDs, Indices, Metals, Commodities, and Bonds.

While the platform offers a polished interface and promises of “maximizing gains” and “conquering challenges” in the international market, a critical review from an ethical, Islamic perspective reveals significant concerns.

The very nature of the services offered, particularly Contracts for Difference CFDs and leveraged Forex trading, inherently clashes with fundamental Islamic financial principles. This isn’t just about minor details.

It’s about the core mechanics of how wealth is generated and transferred.

The Problem with CFDs and Leveraged Forex Trading in Islam

At its heart, Islamic finance prohibits transactions involving riba interest, gharar excessive uncertainty or deception, and maysir gambling. Unfortunately, most conventional Forex and CFD trading models typically involve all three. Onyx-fitness.com Review

• Riba Interest: When you engage in leveraged trading, you’re essentially borrowing funds from the broker to amplify your position. This borrowing almost always comes with overnight financing charges or swaps, which are a form of interest. Even if a “swap-free” or “Islamic account” is offered, the underlying mechanism can still be problematic if it’s merely a workaround that doesn’t genuinely remove interest.
• Maysir Gambling: The zero-sum nature of many speculative trading activities, where one person’s gain is another’s loss, combined with the high risk and reliance on pure price speculation without tangible asset exchange, bears a strong resemblance to gambling. Success often depends on chance and market volatility rather than genuine economic productivity or risk-sharing.

The promises of “maximizing gains” and “conquering challenges” often subtly shift the focus from sound investment principles to quick, high-risk speculation.

While the website mentions “investments,” the primary offering appears to be trading, which, in the context of CFDs and high leverage, is distinct from Sharia-compliant investment.

Numerainternational.com First Look

A superficial glance at Numerainternational.com reveals a professional-looking website with clear calls to action for opening live or demo accounts.

It presents itself as a standard online brokerage, providing access to a range of financial instruments.

• User Interface: The website is clean and navigable, with easily accessible sections like “Trading,” “About,” and “Partnership.”
• Information Availability: Key information like company registration number A000000993 and operational start date 2022 are provided. This offers a basic level of transparency, though it’s important to verify such details independently.
• Target Audience: Clearly targets individuals interested in speculative financial markets, promising expert guidance and optimized investments.
• No Explicit Islamic Compliance: There is no mention of Sharia compliance, Islamic accounts, or any features designed to adhere to religious financial principles. This is a critical omission for anyone seeking ethical financial services from an Islamic perspective.

The platform’s emphasis on “maximum gains” and “optimizing investments” through “perfect trades” aligns with typical conventional brokerage marketing, but not with the prudence and ethical boundaries central to Islamic finance. Emmawillis.com Review

Numerainternational.com Cons from an ethical perspective

When evaluating Numerainternational.com through an Islamic ethical lens, the “cons” are not merely drawbacks but fundamental contradictions that make the platform unsuitable for Muslims seeking Sharia-compliant financial dealings.

These issues stem from the inherent structure of the products offered.

Inherent Riba Interest Exposure

The primary concern with a platform like Numerainternational.com is the pervasive presence of riba, or interest.

• Overnight Swaps/Financing Charges: In Forex and CFD trading, holding positions overnight typically incurs swap fees or financing charges. These are essentially interest payments on the leveraged capital borrowed from the broker. Even if described otherwise, if a fee is charged or paid for the time value of money or for borrowing, it is likely riba.
• Leverage as an Interest-Bearing Loan: When a trader uses leverage e.g., 1:400, they are effectively trading with borrowed money. Conventional financial systems charge interest on such loans. While some brokers claim “swap-free” accounts, scrutiny often reveals these are either limited in duration, involve hidden fees, or simply redistribute the interest charge in another form, making them equally impermissible.
• Lack of Transparency on Interest Mechanisms: The website does not detail how interest charges are handled, which is typical for conventional brokers but problematic for Islamic finance where absolute transparency on financial flows is required.

The exposure to riba alone is sufficient to deem such a platform non-compliant and thus discouraged for Muslims.

Excessive Gharar Uncertainty and Maysir Gambling

The nature of CFDs and highly leveraged Forex trading often involves excessive uncertainty and characteristics akin to gambling, both of which are forbidden in Islam. Allstarwheelchairs.com Review

• Speculation vs. Investment: Trading CFDs does not involve owning the underlying asset. Instead, it’s a bet on the price difference. This is pure speculation rather than genuine investment in a productive asset, which is the basis of permissible wealth generation in Islam.
• High Leverage, High Risk: The 1:400 leverage offered for VIP accounts means a small price movement can lead to massive gains or losses. This amplifies risk beyond reasonable commercial uncertainty gharar yasir into excessive uncertainty gharar fahish, turning it into a high-stakes gamble where outcomes are largely unpredictable.
• Zero-Sum Game: Many speculative markets, especially short-term trading, function as zero-sum games where one participant’s profit is another’s loss, without contributing to real economic value. This aligns with the definition of maysir gambling.
• No Asset Ownership: Islamic finance emphasizes ownership and risk-sharing in tangible assets or legitimate businesses. CFD trading bypasses this fundamental principle, focusing solely on price movements.

The speculative, high-risk nature and the absence of tangible asset exchange render these activities ethically problematic and discouraged.

Lack of Sharia Compliance Certification or Oversight

Numerainternational.com makes no claims of being Sharia-compliant, nor does it appear to have any certifications from recognized Islamic finance bodies or scholars.

• No “Islamic Account” Details: While some brokers offer “Islamic accounts,” these often fall short of true Sharia compliance if they merely remove explicit swaps without addressing the underlying interest-based lending or speculative nature of the product. Numerainternational.com doesn’t even mention such an option.
• Generalist Approach: The platform caters to a broad, conventional trading audience, which inherently means its products and services are built upon conventional financial principles that frequently conflict with Islamic law.
• Regulatory Environment: Anguilla, where the company is registered, may not have robust regulatory frameworks that specifically address or enforce Sharia compliance in financial services. While basic registration is a step, it doesn’t guarantee ethical adherence.

Without explicit Sharia board oversight and transparent adherence to Islamic principles, any platform offering conventional financial instruments like CFDs should be approached with extreme caution by Muslim investors.

How to Avoid Impermissible Financial Dealings

Given the inherent issues with platforms like Numerainternational.com, understanding how to steer clear of impermissible financial dealings is crucial for Muslims.

It’s about setting clear boundaries and actively seeking out ethical alternatives. Luminovaco.com Review

Recognizing Riba in Disguise

Riba isn’t always labeled as “interest.” It can appear in various forms, making it tricky to identify if one isn’t vigilant.

• Time-Value Money Charges: Any fee or return that is solely based on the passage of time when money is loaned or held, without a tangible asset or genuine risk-sharing, is likely riba. This includes overnight financing fees, rollover fees, or fixed returns on borrowed capital.
• Hidden Fees and Premiums: Sometimes, interest is disguised as administrative fees, premiums, or discounts that implicitly account for the time value of money. For example, a “swap-free” account might have wider spreads or higher commissions that effectively cover the cost of interest.
• Conventional Loans and Credit Cards: These are prime examples of riba-based transactions. Any financial product that requires you to pay back more than the principal borrowed, purely for the time you had the money, falls into this category.

Always scrutinize the underlying mechanism of a financial product.

If it involves borrowing money for a return that is not tied to a real asset’s performance or a genuine profit-sharing venture, it’s a red flag.

Understanding Gharar and Maysir in Modern Finance

Gharar excessive uncertainty and Maysir gambling are prevalent in speculative financial markets.

• Derivatives and Speculative Contracts: Many derivatives, including most CFDs, futures, and options when not used for hedging based on actual needs, involve high gharar. The contract’s value often depends on future uncertain events without actual ownership or transfer of a tangible asset.
• Short Selling: Selling something one doesn’t own, with the intention to buy it back later at a lower price, is often considered gharar due to the high uncertainty and potential for pure speculation detached from real economic activity.
• Lotteries and Betting: These are clear examples of maysir, where financial gain depends entirely on chance without productive effort or genuine risk-sharing. While perhaps obvious, it’s important to recognize that some speculative trading activities can closely resemble this.
• Lack of Tangible Asset Exchange: A key indicator of gharar and maysir is the absence of an exchange of real, tangible assets. If you’re merely betting on price movements without ever intending to own the underlying commodity, currency, or stock, it raises concerns.

The emphasis in Islamic finance is on productive, real economic activity. If a financial instrument does not contribute to the real economy or involves purely speculative betting, it likely falls foul of gharar or maysir. Assetsure.com Review

The Importance of Sharia-Compliant Screening

For Muslims looking to invest, relying on robust Sharia-compliant screening processes is non-negotiable.

• Industry Exclusion: Companies involved in prohibited industries alcohol, gambling, conventional finance, pork, entertainment with immoral content, etc. are automatically excluded.
• Financial Ratios: Strict financial screens are applied to ensure companies do not derive significant income from interest or have excessive debt. For example, typically, interest-bearing debt should not exceed 33% of market capitalization, and interest-based income should be less than 5% of total revenue.
• Purification Zakat and Sadaqah: Even in Sharia-compliant investments, if a minor impermissible income is unavoidable e.g., a small percentage of interest income from cash holdings, it must be “purified” by donating it to charity.
• Expert Oversight: Relying on recognized Islamic finance scholars or Sharia boards for certification and ongoing oversight is crucial. They provide the expert guidance needed to ensure investments truly comply with Islamic law.

When considering any investment, always ask: Is the underlying asset permissible? Is there interest involved? Is it excessively speculative? Does it involve gambling? If the answer to any of these is yes, or if there’s significant doubt, it’s best to avoid it.

Numerainternational.com Account Types and Pricing Ethical Concerns

Numerainternational.com offers three primary account types: Classic, Standard, and VIP, each with increasing minimum deposit requirements and features.

While these tiers are standard for conventional brokers, from an Islamic perspective, the pricing structure itself doesn’t alleviate the fundamental impermissibility of the core trading activity.

The minimum deposit amounts escalate significantly, ranging from $2,000 for a Classic account to a staggering $100,000 for a VIP account, indicating a significant commitment of capital to what is fundamentally a problematic venture. Hennasooq.com Review

Classic Account: The Beginner’s Trap

• Min Deposit: $2,000 USD
• Features: Widest range of trading instruments, Safe Trading, Personal Account Manager, Scalping allowed, Market execution and no requotes.
• Ethical Review: This account, marketed as “The choice of the beginners,” is particularly concerning. It invites new, perhaps less financially sophisticated individuals, into a highly speculative and ethically problematic environment. The mention of “generous spreads that can really impact your bottom line” suggests the profitability is linked to efficient execution of trades, which in a leveraged CFD environment, is inherently risky and often interest-laden. For a beginner, navigating the complexities and hidden interest implications of such an account can be disastrous. The claim of “Safe Trading” is deceptive in the context of high-risk, leveraged speculation.

Standard Account: The Majority’s Choice

• Min Deposit: $10,000 USD
• Features: Small spreads and excellent execution, Over 400 instruments, Loyalty programs, Safe Trading, Personal Account Manager, News trading allowed, Market execution and no requotes.
• Ethical Review: This account, appealing to the “majority,” requires a substantial investment. While offering “small spreads,” this doesn’t negate the riba from overnight positions or the gharar from leveraged speculation. “Loyalty programs” might incentivize continued engagement in these impermissible activities. The higher deposit amplifies the potential for larger losses, making the ethical implications even more severe given the inherent impermissibility of the trading itself.

VIP Account: The Professional’s Lure

• Min Deposit: $100,000 USD
• Features: Great opportunity to start trading on a cent account with a deposit, Trading instruments 1:400 leverage, Safe Trading, Raw spreads, Personal Account Manager, Unlimited duration of transactions, Market execution and no requotes.
• Ethical Review: This account targets “professionals” with a massive minimum deposit. The explicit mention of “1:400 leverage” is a major red flag. This extreme leverage means that for every $1 of your own capital, you can control $400 worth of assets. While this can amplify gains, it equally amplifies losses, making it an exceptionally high-risk, highly speculative endeavor. The “Raw spreads” might seem attractive, but they do not eliminate the riba from leverage or the speculative nature. “Unlimited duration of transactions” further exposes funds to continuous overnight swap charges, deepening the riba problem. For a Muslim, investing such a significant amount into a fundamentally problematic financial instrument is highly discouraged.

In summary, the tiered pricing and features of Numerainternational.com’s accounts do not mitigate the core ethical issues related to riba, gharar, and maysir. Instead, they merely offer different entry points into a financial ecosystem that is largely incompatible with Islamic principles. The higher minimum deposits and leverage options only serve to increase the exposure to prohibited elements and potential financial ruin.

How to Cancel Numerainternational.com Subscription Hypothetical, as it’s not recommended

While we do not recommend engaging with Numerainternational.com due to its ethical concerns, understanding the process of disengaging from such platforms is important for those who might have inadvertently signed up or are seeking to close their accounts.

Typically, canceling a subscription or closing an account with an online brokerage involves several steps, though the exact process can vary.

It’s crucial to ensure all funds are withdrawn and personal data is handled appropriately.

Account Closure Process

To cancel your Numerainternational.com account, you would generally follow these steps: Lepsons.com Review

1. Withdraw All Funds: Before attempting to close your account, you must withdraw any remaining funds. This usually involves logging into your “Client Portal” https://member.numeraintl.com/login and initiating a withdrawal request. Be aware of any minimum withdrawal limits or associated fees. Ensure all open positions are closed before initiating a withdrawal.
2. Contact Customer Support: Most brokerages require you to formally request account closure through their customer support channels. This could be via email, phone, or a dedicated support ticket system within the client portal. Look for contact information on their “About” or “Contact Us” pages.
3. Provide Necessary Information: When contacting support, you will likely need to provide your account number, personal identification details, and a clear request to close your account. They may ask for a reason for closure as well.
4. Confirm Account Closure: After submitting your request, follow up to ensure the account has been successfully closed. Request a confirmation email or document for your records. It’s wise to check that all personal data is removed if required.
5. Remove Linked Payment Methods: If you have any credit cards or bank accounts linked to your Numerainternational.com account, ensure they are unlinked or removed from their system to prevent any future unauthorized charges.

Potential Challenges

Closing a trading account can sometimes present challenges:

• Unresolved Positions: If you have open trades, you won’t be able to withdraw funds until these are closed.
• Minimum Withdrawal Limits: Some brokers impose minimum withdrawal amounts, which might leave small residual balances.
• Verification Procedures: You might need to undergo additional identity verification steps to process withdrawals and account closures.
• Customer Support Responsiveness: The speed and efficiency of customer support can vary, so be prepared for potential delays.

Remember, the best approach is to avoid engaging with such platforms in the first place, ensuring all financial activities align with Islamic principles from the outset.

Numerainternational.com vs. Ethical Alternatives

When comparing Numerainternational.com to ethical financial alternatives, the contrast is stark.

While Numerainternational.com facilitates conventional, speculative trading, the alternatives focus on real economic activity, asset ownership, and transparent risk-sharing, aligning with Islamic finance principles.

This isn’t a comparison of features, but a fundamental difference in ethical grounding. Minexpert.biz Review

The Contrast in Core Principles

• Numerainternational.com Conventional/Speculative:

  • Basis: Leveraged trading, CFDs, speculation on price movements.
  • Income Generation: Primarily through price speculation, often involving riba interest on leveraged positions and gharar excessive uncertainty.
  • Risk: High, amplified by leverage, akin to maysir gambling.
  • Asset Ownership: No actual ownership of underlying assets. contracts are merely bets on price differences.
  • Contribution to Real Economy: Minimal or none. wealth transfer rather than wealth creation through productive means.

• Ethical Alternatives Sharia-Compliant:

  • Basis: Real asset investment, ethical business partnerships, profit-sharing, interest-free financing.
  • Income Generation: Derived from tangible assets e.g., rental income from real estate, profits from a business venture, or shared risk and reward in a legitimate enterprise.
  • Risk: Managed risk, proportionate to the investment, with emphasis on shared responsibility gharar is minimized or absent.
  • Asset Ownership: Direct or indirect ownership of tangible assets or equity in legitimate businesses.
  • Contribution to Real Economy: Direct and positive. supports productive sectors, job creation, and sustainable development.

Examples of Ethical Alternatives in Practice

Let’s look at how specific ethical alternatives directly counter the problematic aspects of Numerainternational.com’s offerings:

• Instead of Forex CFD Trading Speculation:

  • Consider: Ethical Gold and Silver Spot Trading. Here, you buy physical gold or silver, taking actual possession or having it held by a trusted custodian. Your profit comes from the appreciation of a tangible asset, not from leveraged betting on currency pairs or derivatives. This avoids riba, gharar, and maysir.
  • Key Difference: Direct ownership vs. speculative contract.

• Instead of Leveraged Indices/Commodities CFDs:

  Vertexds.com Review

  • Consider: Sharia-Compliant Equity Funds or Direct Investment in Ethical Businesses. Rather than betting on an index’s performance with leverage, you invest in companies that are Sharia-compliant and contribute to the real economy. If you invest directly in a commodity, it should be a spot transaction with immediate exchange, not a leveraged derivative.
  • Key Difference: Investing in productive entities vs. speculating on price indices.

• Instead of Bonds Conventional, Interest-Based:

  • Consider: Sukuk Islamic Bonds. Conventional bonds involve interest riba. Sukuk, on the other hand, are asset-backed securities that represent ownership in a tangible asset or project. Returns are generated from the asset’s rental income or project profits, not interest.
  • Key Difference: Asset-backed, profit-sharing vs. interest-bearing debt.

The choice is clear: while Numerainternational.com offers tools for conventional, high-risk, and ethically questionable financial speculation, numerous ethical alternatives exist that allow for wealth creation in a manner consistent with Islamic principles of justice, fairness, and real economic value.

It requires diligence and a willingness to explore these alternatives, but the peace of mind and ethical alignment are invaluable.

FAQ

Is Numerainternational.com legitimate?

Based on looking at the website, Numerainternational.com provides a company registration number A000000993 in Anguilla and states it has been operational since 2022, which suggests a formal establishment. Cpptrading.com Review

However, “legitimate” is subjective and, from an Islamic ethical standpoint, its primary offerings Forex and CFD trading are largely considered impermissible due to interest riba, excessive uncertainty gharar, and speculative elements akin to gambling.

What is Forex trading and is it permissible in Islam?

Forex Foreign Exchange trading involves speculating on currency price movements.

While basic currency exchange is permissible, the common practice of leveraged Forex trading offered by platforms like Numerainternational.com is generally considered impermissible in Islam due to the involvement of interest riba on leveraged funds, excessive uncertainty gharar, and similarities to gambling maysir.

What are CFDs and are they permissible in Islam?

CFD Contract for Difference trading involves speculating on the price movement of an underlying asset without actually owning it.

CFDs are widely considered impermissible in Islam because they typically involve both interest riba through financing charges and excessive uncertainty gharar or gambling maysir due to their speculative nature and lack of tangible asset exchange. Zestplan.com Review

Does Numerainternational.com offer Islamic accounts?

Based on the website’s homepage text, there is no explicit mention or offering of “Islamic accounts” or “swap-free” options.

This absence further confirms its conventional approach, which does not align with Sharia principles.

What is riba interest and why is it forbidden in Islam?

Riba is any excess or addition taken over and above the principal sum lent, received purely for the passage of time, without corresponding legitimate risk-sharing or productive effort.

It is forbidden in Islam because it is seen as exploitative, creating inequality, and detaching wealth from real economic activity.

What is gharar excessive uncertainty and why is it forbidden in Islam?

Gharar refers to excessive uncertainty or ambiguity in a contract or transaction that could lead to unfairness or dispute. Coverdirect.com Review

It is forbidden because it introduces undue risk, speculation, and potential for deception, undermining fairness and transparency in financial dealings.

What is maysir gambling and why is it forbidden in Islam?

Maysir refers to any game of chance where one party gains at the expense of another without a corresponding productive effort or tangible value creation.

It is forbidden because it involves baseless risk, addiction, and leads to unjust enrichment, diverting resources from productive endeavors.

What are ethical alternatives to Forex/CFD trading for Muslims?

Ethical alternatives include investing in Sharia-compliant equity funds, halal real estate, ethical crowdfunding for small businesses, direct investment in halal business ventures, and spot trading of physical commodities like gold or silver.

These focus on tangible assets and productive economic activity. Lyconet.com Review

How can I identify a Sharia-compliant investment platform?

A Sharia-compliant investment platform will typically: explicitly state its adherence to Islamic principles, have oversight from a recognized Sharia board, avoid prohibited industries alcohol, gambling, conventional banking, and ensure transactions are free from riba, gharar, and maysir.

What are the minimum deposit requirements for Numerainternational.com accounts?

Numerainternational.com offers three account types with varying minimum deposits: Classic $2,000 USD, Standard $10,000 USD, and VIP $100,000 USD. These tiers represent significant capital commitments to a business model that is ethically problematic in Islam.

Is leveraged trading permissible in Islam?

Generally, leveraged trading is not permissible in Islam because it involves borrowing money often with implicit or explicit interest to magnify trading positions, which creates both riba and excessive uncertainty gharar, making it highly speculative and risky.

How does Numerainternational.com make money?

Numerainternational.com, like most conventional brokers, likely earns revenue through spreads the difference between buying and selling prices, commissions, and potentially overnight financing charges swaps on leveraged positions, all of which raise ethical concerns in Islam.

Can I lose more than my initial deposit with Numerainternational.com?

Yes, with leveraged trading like that offered by Numerainternational.com, it is possible to lose more than your initial deposit. Lindons.uk Review

While some brokers offer negative balance protection, the high leverage e.g., 1:400 significantly increases the risk of substantial losses beyond invested capital.

Where is Numerainternational.com registered?

Numerainternational.com states its company registration number as A000000993 and is registered in Anguilla.

Since when has Numerainternational.com been operational?

Numerainternational.com states that the operation of Numera International has been registered since 2022.

What trading platforms does Numerainternational.com support?

The website indicates support for platforms like Windows and Mac, likely referring to MetaTrader 5 MT5, a common trading platform in the Forex and CFD industry.

They also offer a mobile app for trading and account management. Paperlessmovement.com Review

Does Numerainternational.com offer a demo account?

Yes, Numerainternational.com offers an “Open Demo Account” option, which allows users to practice trading with virtual money without real financial risk.

However, even practicing on a demo account for impermissible activities is not encouraged.

What are the risks of trading with high leverage e.g., 1:400?

Trading with high leverage amplifies both potential gains and losses.

For example, with 1:400 leverage, a small price movement can lead to a significant percentage change in your account balance, often resulting in rapid and substantial losses that can exceed your initial deposit.

This level of risk is considered excessive gharar in Islam.

Are “swap-free” or “Islamic accounts” truly Sharia-compliant?

While “swap-free” or “Islamic accounts” aim to remove explicit overnight interest charges, their Sharia compliance is often debated.

Many scholars argue that if the underlying transaction still involves borrowing for speculation or is purely speculative without real asset ownership, it may still fall foul of riba, gharar, or maysir.

Careful scrutiny by a qualified Sharia scholar is essential.

How can Muslims responsibly manage their wealth?

Muslims can responsibly manage their wealth by engaging in ethical investments such as real estate, halal businesses, Sharia-compliant stocks, and ethical crowdfunding, focusing on genuine economic productivity, avoiding interest, excessive uncertainty, and gambling, and fulfilling their Zakat obligations.

What is the role of a personal account manager in trading?

A personal account manager, as offered by Numerainternational.com, typically provides dedicated support, guidance, and sometimes market insights to clients.

While seemingly beneficial, in the context of impermissible trading, their role would be to facilitate activities that are not ethically sound for Muslims.

What is the referral bonus program mentioned by Numerainternational.com?

Numerainternational.com mentions a “Referral Bonus” program, which likely incentivizes existing clients to refer new traders to the platform, offering a bonus or commission for successful sign-ups.

This is a common marketing strategy in the brokerage industry.

What are the available trading instruments on Numerainternational.com?

Numerainternational.com states it offers trading in Forex, CFDs, Indices, Metals, Commodities, and Bonds.

This wide range of instruments, particularly CFDs and bonds, presents significant ethical challenges from an Islamic perspective due to their conventional structures.

What is the “Client Portal” mentioned on the website?

The “Client Portal” https://member.numeraintl.com/login is a secure area for registered users to manage their accounts, deposit/withdraw funds, access trading platforms, and view their trading history.

What is “Copy Trading” and is it permissible in Islam?

Copy trading, offered by Numerainternational.com, allows individuals to automatically replicate the trades of experienced traders.

While it may seem passive, if the underlying trades involve impermissible instruments like leveraged Forex or CFDs, or if the remuneration for the “fund manager” is based on interest or a fixed fee from capital, it would not be permissible in Islam.