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Author Topic: Is Binary Option Halal or Haram ? Need Help  (Read 11047 times)
extrabyte
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December 01, 2015, 11:05:15 PM
#1

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.

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franky1
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December 01, 2015, 11:18:57 PM
#2

binary options are a scam.

stay well clear

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
extrabyte
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December 01, 2015, 11:28:39 PM
#3

binary options area 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?

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December 01, 2015, 11:36:13 PM
#4

binary options area 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 DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
extrabyte
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December 01, 2015, 11:40:29 PM
#5

binary options area 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.

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?

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December 01, 2015, 11:44:11 PM
#6

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

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
BCEmporium
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December 01, 2015, 11:48:42 PM
#7

Who does stir business with religion?!  Shocked
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.

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extrabyte
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December 01, 2015, 11:57:53 PM
#8

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

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

Who does stir business with religion?!  Shocked
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.

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.

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December 02, 2015, 12:01:40 AM
#9

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
extrabyte
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December 02, 2015, 01:01:25 AM
#10

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.

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December 02, 2015, 01:06:47 AM
#11

It's basically gambling. (You need to predict future prices).
So yes it's absolutely HARAM.
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December 02, 2015, 01:21:58 AM
#12

Who does stir business with religion?!  Shocked
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.

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.
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December 02, 2015, 01:25:36 AM
#13

binary options area 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?

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.

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December 02, 2015, 01:48:23 AM
#14

Most everything on these forums is Haram.
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December 02, 2015, 02:26:37 AM
#15

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

islamweb.net/emainpage/index.php?page=showfatwa&Option=FatwaId&Id=237190

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December 02, 2015, 05:26:15 AM
#16

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.

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December 02, 2015, 11:32:19 AM
#17

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.
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December 02, 2015, 11:42:12 AM
#18

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

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December 02, 2015, 11:46:58 AM
#19


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.

this is good opinion, you must read this reference
Binary options are haram, being considered a form of gambling.
islamweb.net/emainpage/index.php?page=showfatwa&Option=FatwaId&Id=237190


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.

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
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December 02, 2015, 11:53:31 AM
#20

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.

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.
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