Online broker day trading traditional18 comments
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While we understand ads can be annoying we rely on the revenue from advertiser to manage our website. The increase in online trading has only served to raise the profile of the issue of whether or not this activity is Haram or Halal, since around a quarter of the global population is currently Muslim.
Sharia Law And Trading Those who follow the Islamic faith must follow Sharia Law which governs all aspects of life from economic issues to social matters. When it comes to trading in binary options, Sharia Law requires that no interest can be charged or earned on an overnight position. However, with trading being done on a 24 hour basis, usually daily interest is added to a broker's account, and whether or not the broker then credits or debits the trader's account with interest, the very fact that this interest is payable or earned in a trading transaction results in the trade being Haram in a Muslim's eyes.