There is not a crystal clear answer to whether or not Forex trading is halal or haram. It should be noted that currency exchange is permitted under Islamic law, but there is not necessarily a clear distinction on what type of currency exchanges are or are not allowed.
A part of currency exchange that is Haram involves usury. This means that anything that gathers interest, referred to as riba, is haram. As a result of the way Forex works and other investing options, interest is able to be gained for profit.
Forex investors are still able to abide by the writings of the Qur’an and still be able to be involved as a trader though. Due to a rise in the desire to trade on the Forex market, there have been brokerages that have launched under halal practice creating Forex accounts that operate without standard interest to allow more Islamic traders to participate in the world of Forex.
Avoiding Haram while trading Forex also means that standard trade options usually offered by Forex brokers are not available as this avoids overnight interest or charges that would be present and classify as riba.
All in all, if you follow the Islamic faith and want to be involved in Forex trading, you can always consult your religious leader. They may be able to shed light further upon some practices to help you best decide what you will want to do. There are trades and practices that make Forex trading halal, but there are also plenty of other practices that will classify Forex trading as haram. So dive into consulting and research to best determine what will be okay and what you will be comfortable with.