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. 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. 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.
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 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. So in my points here I will never Change Haram thing to halal..! I will simplify my answer in to points:.
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Join them; it only takes a minute: Here's how it works: Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top. Is Binary Option from an Islamic account No riba and swap-free halal or haram? Some sites that offer an Islamic account: Mohamed 26 1 1 2. Abu Ziyad 3 In my country, Ulamas have forbidden this kind of trading. Fatemeh 1, 7 I will simplify my answer in to points: 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 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.
Swap interests on overnight trades Rollover. Deposit Bonus Which is added without sense Ribah. No Deposit Bonus Which is added without need to deposit usually. Hidden Fees you don't realize. Because gambling has 3 conditions: Pay for something symbolic like Marks to play with literally something without any value.
Unless you can demonstrate that Islamic accounts actually sell binary options for zero dollars thus supporting your claim that they're halal because no stake is made this really isn't an answer so much as a hypothetical situation that doesn't really apply in practice.More...