
7 minute read
Is Quotex Trading Halal or Haram? A Clear Islamic Perspective
from QUOTEX
Is Quotex trading halal or haram?
The short answer: Quotex trading, as commonly practiced, is haram (forbidden) in Islam. This is primarily due to its nature as a binary options trading platform, which involves speculation, high risk, and elements of gambling—all of which are prohibited in Islamic finance.
Let’s explore exactly why Quotex is considered haram, what Islamic finance says about binary options, and whether there is any way a Muslim can trade online while staying within the bounds of halal principles.

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What is Quotex?
Quotex is an online platform offering binary options trading. Traders predict whether the price of an asset (such as a currency, stock, or cryptocurrency) will go up or down within a specified time frame—often as short as 60 seconds. If your prediction is right, you earn a fixed profit. If you're wrong, you lose your stake.
This "all-or-nothing" outcome is why it’s called binary options.
Why Is Quotex Trading Considered Haram?
Islamic finance has strict guidelines based on the Quran and Sunnah. To be considered halal, a financial activity must avoid:
1. Riba (Interest)
2. Gharar (Excessive uncertainty)
3. Maysir (Gambling/speculation)
4. Haram assets or sectors
Let’s analyze Quotex in light of these principles.
1. Maysir: Gambling and Speculation
Binary options like those on Quotex are a form of high-stakes speculation. The trader is not buying or selling a real asset but simply betting on a price movement over a very short period.
· You do not own the asset.
· You do not participate in a business or provide value.
· You’re essentially betting on market direction.
This mimics the mechanics of gambling—risking money on an uncertain outcome with the hope of profit. Therefore, Quotex trading falls directly into the category of maysir, which is strictly prohibited.
Quran Reference:
"O you who have believed, indeed, intoxicants, gambling, [sacrificing on] stone alters [to other than Allah], and divining arrows are but defilement from the work of Satan, so avoid it that you may be successful."(Surah Al-Ma’idah 5:90)
2. Gharar: Excessive Uncertainty
Islamic finance permits some level of risk in business but prohibits gharar, which means excessive ambiguity or uncertainty.
Binary options are highly volatile and time-sensitive. Most traders cannot reliably predict the outcome, and there’s no intrinsic way to mitigate the risk like in regular investing.
This uncertainty violates the Islamic requirement of clarity and fairness in contractual dealings, making it gharar and thus haram.
3. Riba: Interest
Although Quotex does not charge interest in the traditional banking sense, some forms of trading (especially leveraged or margin-based options) might involve indirect riba, especially when platforms offer bonuses or credits that involve conditional paybacks or interest-like mechanisms.
If any part of the transaction involves guaranteed returns regardless of risk or work, it could fall under the category of riba.
Common Arguments For Halal Trading on Quotex—and Why They Fail
Some traders argue that Quotex is halal because:
· You can control your risk
· You’re just making educated predictions
· It’s a form of skill-based trading
But these arguments are flawed.
“It’s Not Gambling If You Have a Strategy”
Even if you use charts, indicators, or news to inform your predictions, the outcome is still uncertain and binary. You're not investing in a productive asset. You're merely wagering money on a 50/50 outcome. In Islamic law, this still counts as maysir, regardless of skill or strategy.
“It’s Like Forex Trading”
Quotex is not the same as real forex trading. In real forex, traders buy and sell currencies in the spot market. There is ownership, delivery, and legitimate profit. Many scholars even consider spot forex halal if done without leverage or interest. Quotex, on the other hand, is not a currency exchange—it’s a platform for speculation on price movements.
“I’m Helping the Economy by Trading”
Trading on Quotex doesn’t contribute to the real economy. There’s no value creation, no goods exchanged, and no services provided. Islam promotes economic activities that involve real assets, mutual benefit, and ethical conduct.

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What Islamic Scholars Say About Binary Options
Across the board, Islamic scholars and financial experts agree:
Binary options are haram.
Here are some scholarly positions:
· Dr. Zakir Naik: "Binary options are a form of gambling and are not permissible in Islam."
· Mufti Taqi Usmani: Emphasizes that options, in general, are not permissible because the object of sale does not exist.
· AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions): Prohibits derivatives trading that involves speculation, leverage, or riba.
The general consensus is binary options like those on Quotex violate multiple principles of Islamic finance.
What About a “Halal Account” on Quotex?
Some platforms advertise "Islamic accounts" that supposedly remove interest charges. However, this does not make the core activity halal. Removing riba does not remove maysir or gharar.
Unless the fundamental nature of the transaction is halal, simply labeling it “Islamic” is deceptive. A haram activity cannot be made halal by changing the label.
Halal Alternatives to Quotex
If you’re a Muslim looking to grow your wealth ethically, here are some alternatives:
1. Stock Market (Shariah-Compliant Stocks)
Invest in stocks of companies that:
· Do not deal with alcohol, gambling, interest-based banking, or pork
· Have low debt ratios
· Are transparent and ethical
You can use Islamic stock screeners or halal investment apps like Wahed Invest, Zoya, or M1 Finance (with filters).
2. Halal Forex (Spot Trading Without Leverage or Interest)
Some scholars allow spot forex trading as long as:
· There's immediate settlement (no delay or margin)
· No interest or overnight fees are involved
· Currencies are exchanged hand-to-hand (or via immediate bank transfer)
Be cautious and consult a qualified scholar before engaging.
3. Real Estate Investment
Buying property and renting it out is a time-tested, halal way to build wealth. You can also invest in Islamic REITs (Real Estate Investment Trusts) that are Shariah-compliant.
4. Gold & Commodities
Trading real physical commodities, like gold, silver, and oil, is halal if done with clear ownership and immediate settlement.
5. Halal Mutual Funds and ETFs
There are funds specifically designed to invest in halal industries and avoid haram businesses. Examples include:
· Amana Mutual Funds
· Wahed FTSE USA Shariah ETF
· Shariah-compliant global indices
Final Verdict: Quotex Trading is Haram
To summarize:
· Quotex operates using binary options.
· Binary options are not permissible in Islamic finance due to speculation (maysir), uncertainty (gharar), and lack of real asset ownership.
· Just because you can make money on the platform does not make it halal.
· True halal investing involves value creation, fairness, and ethical conduct—not betting on short-term price movements.
What Should a Muslim Trader Do?
If you're currently using Quotex, consider the following steps:
1. Stop Trading Immediately: Continuing to earn from a haram source can negatively impact your wealth, faith, and spiritual well-being.
2. Repent Sincerely: Make tawbah (repentance) and seek forgiveness from Allah with the intention not to return to it.
3. Purge Ill-Gotten Wealth: If you’ve earned money from haram trading, scholars recommend donating that money (without the intention of earning reward) or purifying it by giving it away.
4. Pursue Halal Income: Look for ethical, value-driven ways to invest and grow your money. There are plenty of halal options if you’re willing to learn and be patient.
Conclusion
While online trading is not haram in itself, the structure of Quotex and other binary options platforms makes them incompatible with Islamic ethics. As Muslims, our financial decisions must align with our spiritual responsibilities.
So, is Quotex halal?
No, Quotex trading is haram.
The way forward is to educate ourselves, avoid shortcuts, and invest in a manner that’s not only profitable—but also pleasing to Allah.
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