Forex and binary options trading haram it matters to muslim traders

It is possible to find a good trading platform which complies with Islamic law; in the same way that the Islamic bank has developed and provided a viable option for people of other faiths. However, it has become apparent that, due to their religious beliefs, Muslims are unable to trade using the traditional binary account. Please note that this site — binaryoptions. The other major area of concern centres around interest. Grand Ayatollah Saafi Gulpaigani may Allah grant him long life:

Equally, any profit generated must be immediately placed into the client account to prevent it earning interest. Halal Binary Options Binary option trading online is a relatively recent development which has made it possible for many traders to access the market. Having said that, there is also a growing school of thought that only the individual trader can know whether trading binaries is halal or not. If you understand the complexities of the trade then perhaps you are not gambling.

This was not always possible in the past. This is something which should apply to all traders not just those operating under Muslim law. The life of a Muslim is guided by Sharia Law.

It must also be noted that despite in-depth research into numerous sources, this page is not trying to offer readers religious advice. They have their own set of principles and will always follow the guidelines established by their religion; even in business matters. Whilst some suggest this is simply a disguised interest component, many scholars are content with this new method of facilitating trades. Brokers who are offering an Islamic binary options account understand the importance of no interest being charged or even earned.

Instead, it looks to collate viewpoints and present them in an easy-to-digest format. Brokers like XM applies NO fees and swaps are optional. Subscribe To Trading Secrets.

Islamic Binary Options Trading If you are a Muslim or a member of the Islamic community you will probably be very interested to know whether it is acceptable to trade online with digital options. Thus has led to the rise of the Islamic binary options trading account. With one-quarter of the world being Muslim and the development of online trading, the question of where intraday trading fits in with Islamic law is increasingly being asked. Only the individual trader can know whether this is the case. It is a reflection of the religious belief that giving should be done without expecting reward.