Is Binary Option Halal or Haram ? Need Help

[fr4nkthetank]

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.

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. 

[OmegaStarScream]

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 .

[thejaytiesto]

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.

[ronaldo40]

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.

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.

[nekochan05]

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

[extrabyte]

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.

[kyrios_]

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 .

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

[extrabyte]

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

[franky1]

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

[extrabyte]

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.

[armadilo]

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


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

[extrabyte]

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


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

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).

[jonald_fyookball]

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

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

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

[croTek4]

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.

[AtheistAKASaneBrain]

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.

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).