Q: Many people are going binary option nowadays to make money. Is it halaal to trade online through investment in binary options in the stock exchange. It basically is speculation whether or not a commodity will go up or down in the stock exchange. Nowadays the software purchased by yourself will do the speculation for you. Please advise whether this sort of earnings in halaal.
A: Refer to http://muftionline.co.za/node/10346
And Allah Ta’ala (الله تعالى) knows best.
Mufti Zakaria Makada
Checked & Approved:
Mufti Ebrahim Salejee (Isipingo Beach)