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    Binary Trading

    Posted by Muhammad Hamza on October 23, 2024 at 5:27 am

    Is binary trading haram?

    Is it betting?

    Actually it is very different from spot and future trading.

    In this there is no trade that happens.

    You just predict or bet that for next 1,3,5 mint ( u can choose your time) the market will be up or down from your point. Even the profits and loss are decided.

    Eg

    If price of an asset is 100 dollar at 11 am . U say it will be up from 100 dollar on 11:05 . If u r wrong u loss 10 dollar or whatever and if u are right u won 8 dollar.

    The price goes to 101 or 120 u will only profit or get 8 dollar

    And if it goes to 70 or 99.6 u will lose 10 dollar.

    Where as in spot or future trading

    If u buy 1 contract or lot of asset at 100 dollar

    At 101 u will be in 1 dollar profit , at 105 , 5 dollar and so on

    Same goes for the loss. It varies with the proce and number of lot u have bought.

    Muhammad Hamza replied 3 weeks, 5 days ago 1 Member · 1 Reply
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