Binary options and forex trading are not Shariah Compliant

Answered according to Hanafi Fiqh by Askimam.org

I know binary options are imperssible, however to invest your money in third party such as an individual trader or an investment organisation who trade with forex and binary options, and then me personally expect a fixed return on a monthly basis from them as a source of income, would such an act be acceptable under the laws of sharia?

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh

Binary options and forex trading are not Shariah Compliant. Therefore the income earned from such investments via third party agents will be impermissible and not Shariah Compliant.

 

And Allah Ta’āla Knows Best

 

Ismail Desai,

Darul Iftaa

 

Checked and Approved,

Mufti Ebrahim Desai.

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