Is Binary Option Halal or Haram ? Need Help

AtheistAKASaneBrain

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Quote from: thejaytiesto on December 05, 2015, 11:06:34 AM

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).

croTek4

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the Cat-a-clysm.

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.

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: Foxpup on December 01, 2015, 10:26:37 PM

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.

extrabyte

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Quote from: armadilo on January 03, 2016, 11:54:54 AM

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

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

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).

armadilo

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

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

extrabyte

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Quote from: franky1 on January 03, 2016, 11:19:16 AM

Quote from: extrabyte on January 03, 2016, 11:01:03 AM

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.

franky1

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Quote from: extrabyte on January 03, 2016, 11:01:03 AM

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

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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

kyrios_

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Quote from: OmegaStarScream on December 05, 2015, 10:59:00 AM

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

legendary

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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.

nekochan05

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

ronaldo40

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Quote from: extrabyte on December 01, 2015, 07:05:15 PM

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.

thejaytiesto

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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.

OmegaStarScream

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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 .

fr4nkthetank

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Now the money is free, and so the people will be

Quote from: extrabyte on December 01, 2015, 07:05:15 PM

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.

crazyivan

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Quote from: extrabyte on December 01, 2015, 07:05:15 PM

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.

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.

calkob

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Quote from: extrabyte on December 01, 2015, 07:28:39 PM

Quote from: franky1 on December 01, 2015, 07:18:57 PM

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://bitcointalksearch.org/topic/make-times-5-of-your-money-in-30-days-1272614 says that these $250 are insured and I cannot loose it, what do you think franky?

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

Jeremycoin

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𝓗𝓞𝓓𝓛

[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.

USB-S

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In XEM we trust

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

gangnam2016

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It's like gambling so haram

Topic: Is Binary Option Halal or Haram ? Need Help (Read 11670 times)