Nov 01, · Basically, an Islamic account in binary options is one that operates much like an ordinary account only that in this case, no interest is charged whatsoever. The account should not earn interest of any kind either/5(). These accounts are also called Halal Binary Options Account. There are very few Binary Options brokers, who have established individual accounts designed explicitly for their Muslim customers. These special accounts are referred to as Islamic binary options account, and it strictly adheres to Sharia law. Aug 17, · The growth rate of Islamic accounts is three times quicker as compared to the conventional bank accounts. Islamic banks follow the Sharia Law and this is why more Muslims are taking the part in binary trading. There are two major agreements in the Shariah Law that are important for investments like binary options.
You’re a good Muslim? No problem, we’ve got Islamic binary options accounts | The Times of Israel
The enormous influence of Islam on the lives of modern Muslims can be traced by studying a decent list of prohibitions in the financial and credit sphere, which is based on Sharia law.
Many Europeans can not believe that in the 21st century, a loan with interest or bond trading can be perceived as a terrible crime, binary option islamic account. But no matter how strange it may sound, Muslims respect and observe the religious teachings and traditions of their ancestors just as they did a few centuries ago.
Since it was not realistic to change the Quran and the centuries-old traditions of the faithful, there was only one way out — to alter the wording of its sentences so that they did not binary option islamic account the teachings of the Prophet Muhammad. The Forex market and binary options in Islam are prohibited activities that the faithful will never engage in if we consider them in the classical form.
Work on trading floors includes elements that violate Sharia law. These include:. Casinos, gambling, etc. But on the other hand, binary option islamic account, work on trading platforms is connected with the search and analysis of the necessary information, the study of charts and the identification of factors that influence the value of assets. This attitude is quite satisfied with the Muslims who have decided to make money on the Forex market and other areas of online trading.
Includes trade in goods that the party does not own the transaction, and it also includes the speculative risk of operations for example, trading with leverage. In Islam, usury is not allowed, which in this case is observed between the broker and the trader. Although not everyone agrees with this statement, referring to the fact that fees for service and usury are two different things, binary option islamic account. Islamic accounts for working in the foreign exchange markets are missing all the elements that resemble the above prohibitions.
Their main features are:. Another important point that is associated with the opening of an Islamic account. For this procedure, the future trader must provide proof of their religious affiliation. No more additional documents are needed. The main reasons for the prohibition of binary options binary option islamic account Islam are:.
As in the case of accounts for the currency markets, binary options trading for Muslims is carried binary option islamic account without the use of swaps. Many brokers offered potential clients to open Islamic accounts and work on the trading platform, where the trader did not rely on changes in the direction of the value of the asset, but invested money in projects that are not prohibited by Sharia law. Illegal binary options in Islam allow traders professing this religion to open swap-free accounts that can be used for long-term transactions.
Without paying interest on the transfer of positions, such operations make it possible to get additional profit, which was used for a long time by traders who had nothing to do with Islam. In this case, the abolition of commissions and swaps allowed to find additional sources of income that are not available to owners of ordinary accounts. This factor was the reason that brokers began to demand that everyone who wants to enter into transactions, without violating Sharia law, prove that they really are Muslims.
Your email address will not be published. Islam Forex Market The Forex market and binary options in Islam are prohibited activities that the faithful will never engage in if we consider them in the classical form. Features of Islamic Forex accounts Islamic accounts for working in the foreign exchange markets are missing all the elements that resemble the above prohibitions, binary option islamic account.
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, time: 3:34Islamic Accounts | Binary Options Guides
May 26, · Several binary options firms with offices in Israel advertise “Islamic accounts” directly on their websites, including BigOption and Opteck. The Israeli binary options industry is neither. These accounts are also called Halal Binary Options Account. There are very few Binary Options brokers, who have established individual accounts designed explicitly for their Muslim customers. These special accounts are referred to as Islamic binary options account, and it strictly adheres to Sharia law. Binary Options Trading for Muslims The main reasons for the prohibition of binary options in Islam are: ● The accrual of winnings in case of a successful transaction is carried out as a percentage, which is strictly prohibited by the laws of Sharia. ● These operations resemble a gamble.
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