One of the prominent trading instruments in the financial market is Forex. This market itself encompasses a diverse array of transactions, including spot trading, futures, options, ETFs, forwards, and swaps. Spot transactions are categorized into four main types: the primary spot market, retail Forex, Forex CFD trading, and spread betting. Among these, CFDs have gained significant prominence due to their widespread adoption and unique characteristics such as high liquidity, leverage, and a wide variety of tradable instruments. Despite the burgeoning popularity of these innovative instruments, the complex nature of CFDs and uncertainties regarding their legal and ethical status have led to a dearth of scholarly research, particularly from an Islamic jurisprudence perspective. Consequently, a thorough examination of the Islamic legal implications of CFDs is warranted. Employing a descriptive-analytical methodology and drawing upon both print and digital resources, this study concludes that, based on two prevailing theoretical perspectives regarding the substantive nature and formal aspects of CFDs, these transactions are permissible from an Islamic law standpoint and legally valid. However, the specific classification varies: according to the first perspective, CFDs can be categorized as a sale, while the second perspective considers them a novel, independent contract distinct from established legal contracts.