Tinjauan Hukum Jual Beli Mata Uang Prespektif Undang-Undang No. 10 Tahun 2011 dan Fatwa DSN Mui No.28/DSN MUI/III/2002 terhadap Trading Forex: Studi Kasus pada Aplikasi Monex Investindo Futures (MIFX) dan Aplikasi Financial Broker Success (FBS)

Nurul Hikmah (Institut Ilmu Al-Qur`an (IIQ) Jakarta)
Abd Wahab Abd Muhaimin (Institut Ilmu Al-Qur`an (IIQ) Jakarta)
Nurkhalis Muchtar (Institut Ilmu Al-Qur`an (IIQ) Jakarta)

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Forex trading has attracted significant public interest, particularly among Muslim investors, due to its high market liquidity. However, concerns remain regarding its legal compliance under Indonesian Law No. 10 of 2011 on Commodity Futures Trading and its conformity with DSN-MUI Fatwa No. 28/DSN-MUI/III/2002 concerning currency exchange (Al-Ṣarf). This study analyzes the implementation of forex trading on the Monex Investindo Futures (MIFX) and Financial Broker Success (FBS) platforms from both legal and Islamic perspectives. The research employed a qualitative case study with a normative juridical approach, using observations, focused interviews with traders and a member of the DSN-MUI, and document analysis. The findings indicate that both platforms operate with similar trading mechanisms, differing mainly in their swap-free Islamic features. MIFX complies with Law No. 10 of 2011, whereas FBS does not fully satisfy the statutory requirements governing commodity futures trading. Furthermore, neither platform fully complies with the principles of currency exchange (Al-Ṣarf) stipulated in the DSN-MUI Fatwa. The study highlights the need for stronger regulatory compliance and greater alignment between forex trading practices and Islamic legal principles.