Binary Options Trading - Is there Islamic Binary Options Account?
Yes, you heard it right. Options Trading brokers provide Islamic Binary Options Accounts too.
Binary Options trading is different from Forex trading. The open positions in Binary Options don’t incur any overnight fees or interests. Hence the concept of Riba or interest doesn’t apply to Binary Options trading.
- Do Binary Options brokers provide Islamic Account? Yes
- Since the open positions don’t incur interest in Binary Options, there is no Riba
- There are different opinions about Islamic Binary Options account
- Most of the traders from the Islamic faith find Islamic Binary Options account useful
Islamic Binary Options Account
Modern-day trading has gone a long way from traditional trading of goods and commodities, which changes hands while doing business. Early traders of Muslim faith used to cross vast oceans and lands to trade all over the world. They were liked all over because their methods of trading are truthful, principled, and dictated by the teachings of their faith. This tradition continues up to this day. The specialty with Muslim traders is that they follow business practices compliant with the Islamic faith, hence comes the requirement of Islamic Binary Options Account. 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. You can open an interest-free Islamic binary options account with following Islamic Binary Options Brokers.
Trusted Islamic Binary Options / Fixed Time Trade Brokers 2020
- Trusted broker since 2013
- Forex, CFD and Binary Options
- Minimum deposit $10
- Minimum trade amount $1
- Up to 91* payout
- Quick activation of the account
- Free Demo Account with $10,000 virtual money
- Complies with International Financial Commission
- Forex, CFD and Fixed Time Trades
- MT4 trading platform for Forex and CFD
- Up to 90%* payout
- Free Demo trading account
- Limited time Bonus up to 50%
* Amount to be credited to account for a successful trade.
The Islamic binary option trading accounts have a no Interest (Riba) policy. The positions can remain open till expiry without an interest being charged. They also assure that no fees will be charged from these Islamic accounts. These brokers also have a dedicated Islamic staff for support and trading experts fluent in Arabic as well as the intricacies of Sharia law.
Implementing of Sharia law’s in the trading of binary options, has come as a welcome relief to thousands of traders of deep Islamic faith who were locked out of binary options. Today, all they need to do is sign up to the Halal binary options brokers and they are ready to trade. Everybody does not qualify for Halal binary options accounts, as it offers additional features specifically meant for Islamic traders.
Islamic Binary options broker
Islamic binary options brokers respect their clients’ religious faith and ensure that the trading activities take place in accordance with Islamic principles. To achieve this, the Islamic binary brokers provide special accounts called Islamic binary options account. Out of so many binary options brokers, Olymp Trade has won the trust of Islamic clients for offering them Binary Options, Forex, and CFD trading. They have dedicated support team conversant with Islamic faith who can guide you through the account opening and verification process.
Halal Binary Option – Binomo
Binomo offers its advanced trading features along with Islamic binary options accounts. If you are looking for Halal Binary options brokers, Binomo can be an excellent choice. Binomo offers an attractive bonus and high payout on trades. It also offers a wide range of payment methods and fast fund withdrawal to its clients. You can open a VIP account by making a deposit of $1000.