Legit binary trading halal or haram

Legit binary trading halal or haram I would like to know about investment in curreny (FOREX Market). Like now a days, its very common that people invest in Euro to earn profits. One broker keeps on calling me to invest USD in Euro. Is trade in currency halal?. Dealing in currencies is permissible so long as the exchange takes place in the same sitting as the contract is made. It is permissible to sell euros for dollars so long as the exchange takes place in the same sitting as the contract is made. But when the deal is concerning the same type of currency, such as selling one dollar for two dollars, that is not permissible because it is a type of riba. In that case they should be of equal amounts and the exchange must take place in the same sitting as the contract if the exchange is concerning one type of currency. The evidence for that is the report narrated by ‘Ubaadah ibn al-Saamit (may Allaah be pleased with him) who said: The Messenger of Allaah (peace and blessings of Allaah be upon him) said: “Gold for gold, silver for silver, wheat for wheat, barley for barley, dates for dates, salt for salt, like for like, same for same, hand to hand. If the types are different then sell however you like, so long as it is hand to hand.” Narrated by Muslim, 1587.

It says in Majmoo’ Fataawa Ibn Baaz (19171-174): Dealing in currency, buying and selling, is permissible, but that is subject to the condition that the exchange be hand-to-hand if the currencies are different. If a person sells Libyan currency for American or Egyptian or whatever currency hand to hand, there is nothing wrong with that, such as if he buys dollars for Libyan currency hand to hand, exchanging it in one sitting, or he buys Egyptian or English currency etc for the Libyan or whatever currency hand to hand, there is nothing wrong with that. But if there is a delay, then it is not permissible, and if the exchange is not done in the same sitting, it is not permissible, because in that case it is regarded as a kind of riba-based transaction. So the exchange must take place in the same sitting, hand to hand, if the currencies are different. But if they are of the same kind, two conditions must be met: they should be of equal amounts and the exchange should take place in the same sitting, because the Prophet (peace and blessings of Allaah be upon him) said: “Gold for gold, silver for silver…” The ruling on currency is as mentioned above if they are different then it is permissible for the amounts exchanged to be different, so long as the exchange takes place in the same sitting. If they are of the same kind, such as dollars for dollars, or dinars for dinars, then the exchange must take place in the same sitting and they should be of the same amount. And Allaah is the source of strength. End quote. Articles & Books. Introduction to Islam. Send A Question.

All Rights Reserved for IslamQA© 1997-2017 0.083. Legit binary trading halal or haram Get via App Store Read this post in our app! Is Binary Option from an Islamic account (No riba and swap-free) halal or haram? lately I discovered the Binary Option system, with a little bit of research I found companies who offer an Islamic Account to trade. However when I searched on the internet to find if this kind of trades is Halal or Haram, I found myself stuck between two opinions, some say that it is halal if you avoid trading in currencies, you trade just in commodities (gold, silver, oil), stocks (Facebook, Amazon, Apple) and indices, and some say that it is Haram. The problem is that no one is talking about the Islamic account itself, whether it makes any difference or not. Some sites that offer an Islamic account: Could anyone please help me with this? The problem with Binary options(also options and futures) is that you don't directly deal with the underlying item. You never become the owner of the underlying item. Instead you are betting on the way the underlying item's price moves. If you predict the movement correctly you get money and if you predict wrong you lose money. So I think it is pure gambling. Binary option is not Haram essentially. I don't know how much you have studied this system, but please note that in this system 30 percent of the people will get rich and about 70 percent will lose.

From any side you look at these binaries you can find out this. This kind of trading is not Halal because of what I mentioned. In my country, Ulamas have forbidden this kind of trading. Well, i think binary options IS gambling, there's a thin line between binary options and forex trading (gambling and trading) binary options are about betting and forex trading is about selling and buying currencies. Binary options : is betting wethere bulling or bearing Forex trading: is buying and selling currencies with the hope that you earn money As i mentioned above, if we talk about fundamentals about trading, there's a very thin thin difference between betting and trading. In simple and common trading (such as trading or buying food) the wholesale sellers try to take profit of the market volatility so they try to "predict" proces. But betting you know is to bet is giving money without buying something I consider binary options like betting for football .. The fundamental difference between betting and trading is almost same between business and ribah (in quran' they said ribahis business, allah said NO) Therefore i consoder binary options haram (not fatua) and to prevent doing things haram i prefer avoid dealing with subjects still in discussion until a real FINAL result or fatua is released Ua allahu aalam Assalami alaikom. It is interesting to note that claims of 100% are made by those who can not justify it. It is my understanding that for a method to be gambling a stake has to be made which has risk to be lost. In binary trading it is gain or no change ie zero gain nothing is being lost therefore not gambling in Islam therefore halal. Non Muslims such as HMRC, for tax purposes, classify it as gambling based on behaviour not the exact detail.

Al hamdu Lellah wa asalatu wasalam ala raoulelah, in my view, as for all muslims Buying and Selling is NOT haram, But Al Riba is haram (as the Quran says). So in my points here I will never Change Haram thing to halal. nor vice versa. I will simplify my answer in to points : What you buy you should be able to touch or hold in your hand or be in your AC To Buy Stocks.. it's a tangible item. to buy Gold it's Tangible. any commodity will be tangible ! So you GOT to touch it, in order to own it. Trading in commodities or Stocks are not allowed (Haram) bcz you cannot hold it, then you sell it . it's not possible - you just don't even see it . Trading in Currencies is Halal and allowed in islam, because you can see it coming in to your AC and stored there, you can withdraw it anytime and touch it or hold it 100%. Because it's currency of other countries same as exchange outlets which is spread over the islamic world and halal 100%. Second to point 4, the give and take or sell and buy is done on the same session (same time when the trade ends, it's in your balance instantly) and this balance BELONGS only to you, you can withdraw anytime. Islamic AC should be Free of the following : A. Interests on Trades. B. Swap interests on overnight trades (Rollover).

C. Deposit Bonus (Which is added without sense) Ribah. D. No Deposit Bonus (Which is added without need to deposit usually). E. Hidden Fees you don't realize. F. Leverage (the riser of funds as loan from Banks to your AC) If you have your ac islamic means free of the above, Provided that you Trade ONLY in Currencies exchange, means it will be Halal to practice. Wallahu A'Alam. Another point: Binary options or Forex Trading are NOT Gambling, why ? Because gambling has 3 conditions: 1. Pay for something symbolic like Marks to play with (literally something without any value). 2. Get your Play or cards flip or Roulette Turn. 3. Get a Prize for your play (determined by the Casino) But in Trading . you are Buying an item or Currency of REAL Value.

Opening a position (Selling it or Buying it with a real contract) and winning sale price on the spot after sale and it's in your AC. so it's totally different and Halal. Wallahu A'Alam. There is so many stories about betting in Islam about different stuffs but not for trading and betting is gambling but in religions the messengers always has predicted about thing to happening so what is that , in my opinion when you deposit some amount to investment as a business and when you think the line will go there that you see predictly so if you profit its the way you and all the members hidden betting for so halal is the clean result so its halal a method is the way that you will be agree for lose or win basically its a systematic trade its not the poker or killing someone for their pocket money its a nice live trade for stocks wars and we should know that life is balanced by the wars of stocks and in this case god will thank you that if you invest some money for a reason that it balancing the stocks and the human life system going forward normally so you can trade in law binary options are allowed in professional countries you can be a millionaire and enjoy if you are Islam for the humanity. It's 100% halal! Binary trading halal or haram. Hide replies. Faizal rooney3 years ago. Dealing with binary options such as forex, commodities, indices etc2. Binary options trading halal or haram. Binary trading halal or haram. I want to know if binary options on internet trading broker is Halal? Answer. In the Name of Allah, the Most Gracious, the Most Merciful. As-sal?

mu 'alaykum wa-rahmatull? hi wa-barak? tuh. a binary option is a type of option in which the payoff can take only two possible outcomes, either some fixed monetary amount of some. Is Binary Options Halal and compatible with Islamic traditions? This has become an important question for prospective Muslim options traders as the financial industry has become available to everyone through online trading accounts. The development of online trading in the financial industry in the last two decades has opened up new horizons for retail traders of all races and creed. These brokers are marketing themselves as Halal and compatible with Islamic tradition and Sharia Law. The life of a Muslim is guided by Sharia Law. A Muslim is expected to abide by the Islamic principles covering all aspects of their life from social matters to economic matters that were expounded in the holy Koran. In the area of banking and investments, Sharia law strictly forbid the lending of money with interest. When Sharia law is applied to Binary options trading, this means interest that is earned or charged for an overnight position is prohibited as well. In the spot financial markets, trading is done on a 24 hours basis.

By 5 pm New York time, all open market positions are then rolled over to the next 24 hours cycle. This situation puts Muslim traders on a collision course with their religious beliefs. For example, instead of having an open market position rolled over automatically making overnight interest payable, open positions in Islamic trading accounts are closed by 5 pm New York time and then reopen immediately hence avoiding any interest payable for the fresh 24 hour cycle. To help traders in their selection of brokers that offer Islamic trading accounts, we have compiled a list of leading binary brokers that offer Islamic trading accounts. It should be noted that the list above is by no means exhaustive but is just a guide. If someone used a Halal binary options account, but had little or no knowledge of what or how to trade, then they would be using binary options to gamble � and this would certainly be Haram. Only the individual trader can know whether this is the case. Please note that this site � binaryoptions. It appears that it might also be dependent on the skills of the individual trader, thus in reality making it impossible for us to give advice on the matter. See the references below for further clarification. Is Binary Options Halal or Haram? Immediate execution of trades Immediate settlement of transactional cost No interest payable on trades To help traders in their selection of brokers that offer Islamic trading accounts, we have compiled a list of leading binary brokers that offer Islamic trading accounts. Other considerations If someone used a Halal binary options account, but had little or no knowledge of what or how to trade, then they would be using binary options to gamble � and this would certainly be Haram.

Binary options trading halal or haram. Did you like this article? Share it with your friends! Binary options trading halal or haram. Binary options trading halal or haram. Discover is binary options trading halal or haram, and earn upto 80% return on investment per month without doing anything. Fund the broker account and give access to trustwordy broker. Visit our site and learn more.” Like this: Did you like this article? Share it with your friends! The new Firefox.

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No matter what are the races and creeds of the traders. Muslims are the one-quarter of the total population of the world. It is expected that if binary options trading is Halal then so many Muslim traders will join to the Islamic binary options trading. According to the Islamic law known as the Sharia Law, the Riba or Interest is forbidden for the Muslims. It is considered committing a major sin. Many binary options broker take this fact into the count. They established a new trading system which Halal binary options trading. They also put a different trading account for the Muslims and names it Islamic Trading Account. Some brokers sensing it as an opportunity which can benefit them as well as it will be ideal for the Muslim traders. Halal Binary Options Brokers List. Is Binary Options Halal or Haram for Muslims? Muslims life is guided by the Islamic law known as Sharia Law. Sharia a very old Arabic word actually meaning “the path of life to be followed”. The Muslims are abode to follow the Islamic rules in their whole life in every sector of their life.

It can be anything, social matters, economic matters or political matters, anything. All the rules are found in the Holy Quran. In the case of investment and banking lending money with interest or taking interest in a fixed rate from invested money is strictly forbidden by the Sharia Law. Risk sharing is not the principle of investment in the Muslim world. The investment principles in the Sharia Law are “Bai’ al ‘inah” or the agreement of buy and sell back, the “Bai’ bithaman ajil” means the deferred payment of sale, the “Bai muajjal” means the credit sales, and the “Mudarabah” means profit sharing. There are few more options for investment like Bai Salam, Musawamah, and Murabahah. So it is clear that the interests of binary options trading of overnight positions are prohibited for Muslims by the Sharia Law. In the financial market, online trading runs 24 hours. New York time 5 pm all the positions of open market rolled over every day for the next 24 hours trading cycle. Then the daily interest added to the accounts of the brokers. It is done regardlessly whether the brokers of binary options credits or debits the accounts of their customers with their interest, unlike the forex brokers. In this case, the interest which is earned or payable during the transaction of trading makes the binary options trading Haram for the Muslims. This fact makes a collision with the religious beliefs of the Muslims.

What is Islamic Trading Account? In order to solve the conflict with the Muslims religious beliefs, some innovative brokers of binary options industry came forward and established the idea of Islamic Trading Account or the “Swap Free” trading account. During the trading, this account eliminates the Riba or interest. As the example, to make overnight payable interest the automatic rollover of the open market is not happening in this account. That means there is no opening at 5 pm in this account. Instead of this at 5 pm New York time all the open positions of Islamic Trading Accounts closed and immediately reopen to avoid the payable interest for the next 24 hours trading cycle. The brokers who claim they are proving Islamic accounts according to the Sharia Law must fulfill the following conditions. Trades immediate execution Transactional cost’s immediate settlement On trades, there is no payable interest. To help the traders to find out the best binary options brokers who are providing Islamic Trading Account we add a list above. You should note that we are not pushing you to these brokers, it’s just a recommendation from Legit Binary Options Review. Other Facts to be Considered. If some of you already used Islamic Trading Account without any knowledge or a little knowledge that how to trade with this account, then it would be gambling rather than binary options trading.

It is certainly Haram for the Muslims. What is the case the individual trader can know only. There is another fact that every trade should have a winner or loser and this is not Halal for Muslims because this trade is not able to profit all parties or all parties are not bearing the loss. So take this point into consideration and be sure that the Islamic Trading Account providers really follow the principles of Sharia Law. Please note that Legitbinaryreview. com is not taking any position whether the binary options trading is Halal or Haram. On this subject, we are not any religious authority. It depends on the skills of the individual trader and it is impossible for us to give you any kind of advice in this matter. For the further details and certifications, you can see the below references. References for Further Reading.

Question and answer considering Halal binary options trading on the Islamqa. org Question and answer considering call and put binary options on the alqalam. org. uk. Want more stuff like this? Get the best trading stories straight into your inbox! Forex Market Trading Hours. How to Become a Successful Binary Options Trader. Jargon of Binary Options What You should Know. Trading Goals of New Binary Options Traders. Binary Options Brokers Demo Accounts. Binary Options Bonuses and Offers. Leave a Reply Cancel reply. More From: Trading Education.

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