Binary Option
Last Updated on Thursday, 16 September 2010 21:41
Question:
Assalamu alaykum,
I want to know if binary option trading is Halal in the Islamic Shari'a or not? And Why?
Please help me because am in my way to start trading soon and I want to if I should not start.
thanks,
Gamal Elsabbagh
Answer:
Salaam brother
Many thanks for your query. Binary option trading, as I understand, is a form of stock exchange based on all or nothing or fixed return principle. In the opinion of our scholars there is no specific prohibition in Islamic Shariah concerning stock exchange or making profit from it; provided we adhere to the following religious guidelines applicable to all businesses.
Firstly, the particular commodity being traded is neither expressly prohibited by the Shariah nor does its use have a clear potential of negatively effecting the morality of its consumer/users. Secondly, our activities are in accordance with good sense and normal ethics and we do not indulge in deception of any sort to attain higher profit. Furthermore, there should be no element of betting or gambling in it.
I enclose links from our sister web sites which provide further information on the issue.
If there are any further queries please do not hesitate to contact us again.
Best regards
Waseem Aslam
UIUK Web Team
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because i want to trading this trade
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