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Assalamu Alaikkum Warahmathullahi Wabarakath,

I'm a devoted muslim. After several studies i found out a solid way to earn money through online. Before getting into action, i want to know whether it is halal or haram. It is about binary trading. I browsed through the internet to find out if it is prohibited in Islam or not. Some argued it is haram and some argued if it is interest free/ swap free it is halal.

In my case, i am intended to trade via a platform called IQ options. Specialty on this platform is, at the beginning when you create an account, they Ask whether you are a muslim or not. And they facilitate interest free accounts to muslims. If i'm a muslim i can choose an interest free plan.

I tried to contact some ulamas; unfortunately most of them didn't have any idea on this field. So i would be really thankful if you could give me the shariah rule in this particular problem.

closed as unclear what you're asking by Ahmed, Sassir, Jamila, goldPseudo Jan 14 at 20:39

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All those businesses which are interest-free, are absolutely permitted in Islam. We can say such businesses, Trade. Only those businesses which work under interest are strictly prohibited in Islam as Allah clearly mentioned in Quran Surah Al-Baqarah[2:275]:

Those who consume interest cannot stand [on the Day of Resurrection] except as one stand who is being beaten by Satan into insanity. That is because they say, "Trade is [just] like interest." But Allah has permitted trade and has forbidden interest. So whoever has received an admonition from his Lord and desists may have what is past, and his affair rests with Allah. But whoever returns to [dealing in interest or usury] - those are the companions of the Fire; they will abide eternally therein.

Now regarding your main question about whether IQ options is permitted or not, so it is allowed as it is interest-free(as they offered an account for Muslims also).

My Suggestion for using IQ options:

As the reputation of IQ options isn't good at all, so avoid it. Even Facebook, Google and Twitter banned IQ options' banners and advertisements, because FBI investigates it is fraud. Please read full details about IQ options

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