Is the fee for the spot trading challenge refundable?

No, the fee for the spot trading challenge is not refundable. In alignment with Islamic financial principles, the fee is considered a service charge (ujrah) for accessing the challenge, evaluating trading skills, and the associated administrative processes. Since the fee is a compensation for the service provided, it is not contingent on the outcome of the evaluation, thereby maintaining compliance with the principles of fairness and avoiding elements of uncertainty (gharar) in financial dealings.