Bitcoin Forum

I am going to invest in something and it seems that it is Binary Option.

I am muslim and i care what is the source of my earnings.
I am searching in youtube and google but i can't find an exact answer if Binary Options are Halal or Haram.

Can anyone explain me if it is halal or not and why.

I appreciate it thank you.

binary options are a scam.

stay well clear

I don't know if i am allowed to invest in binary options, it says that i need a minimum of $250 to start and i can earn x5 within 30 days. I don't know how it works but the OP here https://bitcointalk.org/index.php?topic=1272614 says that these $250 are insured and I cannot loose it, what do you think franky?

its a scam!!!!!
binary options is called this because you have 2 options 1 or 0..  you win or lose..

the problems is that most people get 0.

there is no insurance, there is no guarantee x5 win.

use common sense atleast.

the way it works is lets say 10 people put in 1btc

nine will get 0 (lose everything) and 1 will get 5btc.. ( the remainder(5btc) gets kept by the scam artist)

it IS a ponzi scheme wher a majority of people are paying a minority. its not funds being traded on an exchange.. its in short a very very bad lottery that is not licenced

I am a bit surprised that he is saying that you cannot lose it because others will work for you and you will earn money, which i doubt anyway thanks for your opinion. And do you have any idea if it is halal or haram?

if your still asking if its halal or haram. then your obviously still thinking of investing..

so your already screwed by just still thinking of investing in a scam. whether screwed by religion or by your finance.

but to answer your religious question

national lotteries (regulated) are legalised ponzi scams(gambling). but are still haram!!

so a unregulated and illegal gambling scam is (haram + haram)x haram¹⁰⁰

Who does stir business with religion?!  :o
All USD are "haram", they have pictures of kafir, however I'm yet to find a Muslim refusing to accept it...

About the "business", it's an obvious scam as franky told you. So just stay away of it.

It means that it is 100% haram, i appreciate it.


Don't go in extreme with that usd paper, i know that Muslims are involved in stock market based on this: https://www.youtube.com/watch?v=lPGWW0RKZ7U , but can't find something concrete which explains binary options.

IM muslim too
IMO binnary is haram, because basically binary use gambling system not pure trading system
also if you support binary with signature is haram too,
you must learn more about "economy syariah"

any advertising or support for gambling is haram

I read that it's all about how you use it, if you do math and research it depends but i also think in generally that it is haram binary option that's why i asked because i am worried. I have put down the signature and will remove now also the avatar, thank you. Need more opinions.

It's basically gambling. (You need to predict future prices).
So yes it's absolutely HARAM.

Come on dude. Thats the extremist shit that ISIS believes. A normal Muslim uses fiat and even invests in the stock market. Haram in this case would be gambling which binary options fall under so yes haram to OP.

I would lead towards that particular service being haram. If he could guarantee those profits via binary options he would be making himself rich instead of you, so if you get any money back from him it would be from other people which is bad.

as to doing binary options on your own, that's a question for someone else.

Most everything on these forums is Haram.

Binary options are haram, being considered a form of gambling.

islamweb.net/emainpage/index.php?page=showfatwa&Option=FatwaId&Id=237190 (http://www.islamweb.net/emainpage/index.php?page=showfatwa&Option=FatwaId&Id=237190)

i think its depending where we get the binary or crypto currency,if you get from "haram" way,its absoltely haram,and so if you get from halal way,its become halal.
and i think crypto is have halal basicly.

I think bitcoin is haram, with all the drugs, gambling, fraud, extortions, scams etc. involved... Anonymous money wasn't meant for people looking to stay true to god's word.

in my opinion, binary is haram,i can't see the difference between binary and gambling, both depend on your luck, different with trading, you can analyze what will happen next

this is good opinion, you must read this reference



for me bitcoin is like other currency, like papercash , like dollar , euro, you can use  for anything. if u use it for gamble that haram, but if you use bitcoin  to charity, tithe, trade etc. is halal

this is only my opinion

Those are centralized and regulated.

Binary option is absolutely haram my bro, you can search some article on the internet that is causing binary option is haram.. cheers

It's obviously haram, as others have clearly pointed out.

Just ask yourself: What would Mohammed do? Would he invest in binary options?

No, of course not.

He'd gather a band of followers, engage in a series of military excursions and behead his enemies. Then he'd invade the neighboring city, destroy the idols of their religions, force the acceptance of a single god and then fuck a 9 year old.

So, follow Mohammed's example and stay away from binary options.

Asking if some scam is haram or halal is pretty much ISIS in itself.
These guys put their cursed religion in front of everything! Those others you call "normals" are just the ones with a brain able to think for themselves or not caring much about religion anyway.
So, the OP answer is: It's a scam, and it is a scam for whatever religion or unreligion you belong to. Stay away!

oh god please no racist. religion is an sensitive things to mention. this should be a tight discussion if someone linking this kind topic with a religion it would be hard. but for binary, islam is fobade it.

I think you should not mentioned those kind of shit here, since here isnt a place.. Please be kind to another religion, respect each other..

what's the different?
Bitcoin is mention in koran?

This thread is pretty amusing LOL

You will not find never if Binary Options are hallall or haram because no one analyse such kind of activity in this point of view. Can be haram because you will use money to have money. And this may be haram if we bring in mind that muslim banks don't work having as aim of their activity the profit. This is an activity which is doing even from banks. But the muslim ones not. Because can bring profit.

But must be hallall if you use the profit to do charity. At least most of the profit.

So chose you yourself what is this activity: hallall or haram.

If you want my advice don't do this activity. Have no logic and you will win or lose depending only by your luck.

If you want to learn more about binary options read this article of Forbes (you know the importance of this publication: http://www.forbes.com/sites/investor/2010/07/27/dont-gamble-on-binary-options/ (http://www.forbes.com/sites/investor/2010/07/27/dont-gamble-on-binary-options/)

Dr Saalimi As-Suwaylim has. That's why I linked to his fatwa. Can't anybody read the thread before replying?

Halal or haram is depending where you get that binary,ans how that system, if that all halal,that binary will halal to,also expect.

Nope, binary option is haram, no matter where that from or what kind system is.. There is no exception mate,cheers

if you play the binary  trade, you will play with relying on luck, it should not be, because you are at risk to lose,
more harm (mudarat) than good
its haram,
same like gambling

It sounds like we're mostly in agreement that binary options are forbidden (haram). I was just trying to back up the conclusion by citing examples from Mohammed's life.

Islam is very clear in being against binary options. Islam is all about unity. To be halal you must invest in unary options.

One God. One prophet. One option.

So if birany options are sinful according to Muslim standards what mental gymnastics make bitcoin not fall under the same category as well?

read this http://dailyanarchist.com/2013/01/30/is-bitcoin-sharia-compliant/
don't lazy to research and searching friend :)

It's like gambling so haram

Is there any provably legit binary options site out there even? How do we know that they don't manipulate the charts?

[IMO]
If it's based on luck, then it's Haram. Right?
Anyway, I think it depends on your belief. If you believe that you shouldn't do it, then don't do it.

Always remember if it sounds to good to be true it usually is.  Even if you get your 250 back it could be a way to get you to then put more money in as you feel over confident.  as franky says stay well clear.  it pro a con.  if it was that easy everyone would be doing it.  OR go ahead and give it a try because sometimes you need to make your own mistakes in life to learn........ all the best

So u would like to explain to you that gambling is not a sin, according to Islam so you would have clear conciseness?

My friend, dont ask stupid questions, especially those u know answer to.

If u really follow those religious dogmas, u should stay away from BTC in general, banks as well, any form of investment.

well bitcoin binary options are win or lose, so they are basically gambling.  Are you allowed to gamble ?  I would just trade bitcoin price with leverage perhaps (although you have to pay interest on borrowed money...so maybe not).  Or trade altcoins. 

Too much racism on the forums , anyway ... I'm a muslim and yes it's basically gambling so basically you are not allowed to do this (even if we don't take in consideration that most of binary website are scam) , you are not allowed to advertise it in your signature as-well and any money came from it is HARAM , same goes with Forex btw .

I find it interesting that you would use something because it's related to gambling as it is haram. Well, the fact is that Bitcoin has a strong gambling element in it's core, mainly the mining system. The miners are basically playing a lottery to get the blocks, they are gambling money invested in electricity in hopes they win the reward, so doesn't this core principle of Bitcoin go against muslims then? im just curious, I dont follow any religion so im not concerned.

quite a lot of my friends who play binary and they are also Muslims, but some people argue halal and majority said haram. I am also quite confused, but I assess binary like gambling, there is guessing game prices rise or fall and then we predict.

most of online casinos offer binary options in their site as a new choice to gamble
so binary options is same haram like gambling

Many answers here and i appreciate it how many people are interested and now the answer, so basically i got the answer, and
It is HARAM to use/play/advertise binary option. If someone wants to add something then everyone is free to add.

Even forex? I read somewhere there were special accounts to allow muslim to trade according to shariah principles. Any idea what that means?

First i wanted to know about oremine but it seems that it is ponzi and can collapse any time. Don't know if i should create another topic but what do you think about advertising darknet service

if you dont know your own religions view on advertising illegal products then maybe you should ask

EG
"is it ok to accept money for advertising hitmen"
"is it ok to accept money for advertising drugs"
"is it ok to accept money for advertising prostitution"

it doesnt matter if its bitcoin, dollars, or any other native currency, the activity is the same. so dont think that bitcoin makes illegal things legal, or legal things illegal.. its all the same.. all bitcoin does is removes the ties to banks so that they cant freeze your funds.

you would be far better off asking legit bitcoin businesses for any job vacancies, whether is basic customer services, which anyone can do, or something more specialised if you have a skill that they might need.

wasting hours doing these little gambling/advertising schemes which are not only risky to your religion but also wont pay out much or if they do, risk losing it through scams or theft  are not a good idea. so try finding a proper means of  bitcoin income via a legit job. or use a real world job and simply buy bitcoins.. then you will be much safer

I know that it is not allowed to advertise those activity, but i don't know what is humanresources campaign about and was wondering if i am allowed to put their signature or not. I simply don't know what is behind that, your suggestion about working in real world and buying bitcoin is the best suggestion.

One word Haram, Also dude the whole money thing is haram lol  ;D


Edit: there is Non-muslims here so i think you are going to start a war thread  ;D

I know many people like you and I don't pretend to be in war with anyone, and your post isn't helpful. I am discussing with few people in PMs hope to get the right result(s).

Interesting commentary but doesn't make much sense as all trading is really a zero sum game,
not just options and futures.

Whether it is haram or halal is irrelevant. The end result of binary option will almost surely be a loss. Would definitely stay away from this "investment"
Even if it is, in fact, considered allowable by your faith doesn't mean you should do it.

This is a pretty good point, I actually made a post about this I think but got moved to the political section for some reason so I didn't good the feedback I wanted (from people that post in the main forum).