Home » Hanafi Fiqh » Muftionline.co.za » Is Binary Trading Permissible in the Market?

Is Binary Trading Permissible in the Market?

Answered as per Hanafi Fiqh by Muftionline.co.za

Q: A cousin of mine is inquiring if the following investment, which is in the market, permissible?

http://www.igmarkets.co.za/cfd/binary-example.html

Bismillaah

A: This is one form of gambling. Hence it is impermissible.

يَا أَيُّهَا الَّذِينَ آمَنُوا إِنَّمَا الْخَمْرُ وَالْمَيْسِرُ وَالْأَنصَابُ وَالْأَزْلَامُ رِجْسٌ مِّنْ عَمَلِ الشَّيْطَانِ فَاجْتَنِبُوهُ لَعَلَّكُمْ تُفْلِحُونَ ﴿المائدة: ٩٠﴾

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)

This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

Read answers with similar topics: