You’re a good Muslim? No problem, we’ve got Islamic binary options accounts | The Times of Israel

Halal or haram binary options

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Screen shot of Halal Binary Options website that advertises fake "Islamic" binary options trading platforms. You consider yourself a good Muslim who would never gamble, or deal with interest, which every Muslim knows is haram, or forbidden.

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But, you also want to make money fast. Marketers for binary options firms — some of them based in Israel or run by Israelis — are targeting Muslims, especially wealthy citizens from the Gulf, through websites that assert that the use of their trading platforms is permissible according to Islamic law.

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One such prominent website is halalbinaryoptions. Then a sentence with a hyperlink to 24option. Screenshot from islamicbinaryoptions. According to Israeli regulators, even if most binary options brokers were not engaged in outright fraud, they would not be halal because in the best case scenario such short-term trades are a form of gambling.

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All local binary options firms are now banned by the Israel Securities Authority from targeting Israelis, but the firms remain free to target people abroad. The US has banned overseas binary options firms from targeting its citizens, and numerous countries, including the US, Canada and France, are investigating Israel-based binary options fraud halal or haram binary options behalf of their citizens who have been cheated.

Belgium last week became the first European country to ban the industry, in a move that takes formal effect on Thursday, August Advertisement for Banc De Binary Screenshot from islamicbinaryoptions.

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Banc De Binary is owned by Israelis and operates a large call center in Israel while being regulated in Cyprus.

The halalbinaryoptions.

The time span can be as little as 30 seconds, making it possible to place hundreds of binary option trades a day across any global market for even a trader who is brand new to binary option trading. Before you place a binary option trade you also have the benefit of knowing exactly how much you stand to gain if your trade is correct. This in turn makes risk management and trading decisions a lot simpler. The risk and reward for each binary option trade is also known well in advance with this type of trading. Binary Option Trading in Malaysia is offered by a number of international brokers which are easily accessible using the Internet.

While affiliates do have a certain level of creative freedom in their marketing strategies, an insider source told The Times of Israel that in most binary brokerages the CEO will vet the content of prominent marketing campaigns. The Israeli binary options industry is neither exclusively Jewish nor Arab. It employs a large number of Israeli Arabs, and uses affiliates located in the Arab world.

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There are also a number of exclusively Arab-owned brokerages based in Israel. The sales pitch Islamic binary options firms purport to allow for trading without the basic well-known hurdles: gambling and dealing with interest, both of which are forbidden in Islam.

They can put whatever they want.

Rating: Question Assalamu alaikum. I am Ameer. I read the the fatwa No.

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