Binary option guide islamic account
Our website has the honor to be the information binary options source for many people from all over the world which have different religious believes. Recently, we have received many e-mails which were asking us to provide more information about the top Islamic Binary options accounts that are available today on the financial market. Muslims cannot trade with every type of binary account — and that's the reality.
They need to use only accounts that are compatible with the Shariah Law. In order such account to be Halal it needs to follow certain rules, regarding interest Ribarollover and leverage. These trusted brokers that we recommend here have used the services of Muslims Scholars in order to determine what can be included in their Islamic accounts.
Everything was done under the supervision of competent experts which have provided assistance with their knowledge in Islam, throughout the development process of these types of accounts. Finding a trusted broker which offers this type of account that will have all the great features of a modern platform and in the same time comply with the Islamic faith is not an easy task — you maybe know that.
We have selected 3 brokers that we believe are leaders in this field. Here it's very easy to open such account. This means that you can open digital options indefinitely without being the subject to any additional charges and fees. Banc De Binary knows how important the principal of Hibah is to its Muslim customers. This broker facilitates donations and do not charge or take fees on percentage of profits which are made as a donation to various organizations. The company offers Islamic trading accounts that comply with Shariah Law.
This trusted broker permits traders to open positions without getting charged interest or fees for doing so. Startoptions does not charge for any additional fees associated with these accounts type.
It is a great place to sign up and open an Islamic account if you are looking for this type of trading environment. This is not just another trusted broker that offers Islamic accounts with reliable platform.
The features that are included are innovative and attractive. In our opinion, we have provided in this article, 3 great brokers that offer Islamic accounts. You have the variety and you can choose where to open your Islamic account. It is always a good idea to open accounts with more than 1 broker. We hope that you can make really huge profits and know that everything is Halal! Skip to main content. Islamic Account brokers for binary trading You are here Home. Where to open Islamic account.
Best binary options brokers with Islamic account type They need to use only accounts that are compatible with the Shariah Law. Banc De Binary Here it's very easy to open such account. Startoptions The company offers Islamic trading accounts that comply with Shariah Law. Cedarfinance This is not just another trusted broker that offers Islamic accounts with reliable platform.
Is Binary Options Halal binary option guide islamic account compatible with Islamic traditions? This has become an important question for prospective Muslim options traders as the financial industry has become available to everyone through online trading accounts. The development of online trading in the financial industry in the last two decades has opened up new horizons for retail traders of all races and creed.
The life of a Muslim is guided by Sharia Law. A Muslim is expected to abide by the Islamic principles covering all aspects of their life from social matters to economic matters that were expounded in binary option guide islamic account holy Koran. In the area of banking and investments, Sharia law strictly forbid the lending of money with interest.
When Sharia law is applied to Binary options trading, this means interest that is earned or charged for an overnight position is prohibited as well. In the spot financial markets, trading is done on a 24 hours basis.
By 5 pm New York binary option guide islamic account, all open market positions are then rolled over to the next 24 hours cycle. This situation puts Muslim traders on a collision course with their religious beliefs. For example, instead of having an open market position rolled over automatically making overnight interest payable, open positions in Islamic trading accounts are closed binary option guide islamic account 5 pm New York time and then reopen immediately hence avoiding any interest payable for the fresh 24 hour cycle.
To help traders in their selection of brokers that offer Islamic trading accounts, we have compiled a list of leading binary brokers that offer Islamic trading accounts. It should be noted that the list above is by no means exhaustive but is just a guide.
If someone used a Halal binary options account, but had little or no knowledge of what or how to trade, then they would be using binary options to gamble — and this would certainly be Haram. Only the individual trader can know whether this is the case. Please note that this site — binaryoptions. It appears that it might also be dependent binary option guide islamic account the skills of the individual trader, thus in reality making it impossible for us to give advice on the matter.
See the references below for further clarification. Is Binary Options Halal or Haram? Immediate execution of trades Immediate settlement of transactional cost No interest payable on trades To help traders in their selection of brokers that offer Islamic trading accounts, we have compiled a list of leading binary brokers that offer Islamic trading accounts.
Other considerations If someone used a Halal binary options account, but had little or no knowledge of binary option guide islamic account or how to trade, then they would be using binary options to gamble — and this would certainly be Haram.