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These brokers help traders to trade binary options legally in Saudi Arabia. Binary options traders in Saudi Arabia should open account with brokers offering Islamic account which complies with Islamic principles.
Binary options trading offers trade expires starting from 60 seconds, and the trade automatically expires after expiry time. Hence there is no chance in a binary options trading account to earn interest on your investment due to overnight open positions.
In binary options trading there is no roll over, hence there is no interest involved. Many regulated brokers are actively providing services for Binary Options in Saudi Arabia. Home Is binary options legal in Australia? Is binary options legal in Singapore? In recent years, many binary options brokers have come to understand the particular needs of Muslim traders and as such, have created special trading accounts, which eliminate any earned or charged interest riba.
Since there is no rollover, there is no interest involved. Although certain aspects of Islamic trading accounts may vary according to different brokers, all abide by the same rules in order to comply with Sharia Law: Muslims who open an Islamic trading account gain access to binary options on the Saudi Stock Exchange called the Tadawul.
Since many Muslim traders are from Saudi Arabia, the ability to trade on this exchange is a great opportunity to capitalize on a familiar market. At first glance, Sharia Law appears to be prohibiting binary options, but with an increasing number of brokers offering Islamic trading accounts, Muslims around the world are now able to profit from this popular form of trading.
What Are Binary Options? Binary Options and Sharia Law. This is one of the main reasons that Saudi Arabia binary options trading has grown massively in recent years. It is simply a case that binary options in Saudi Arabia are much simpler for trading than in many Arabic countries. There is only one stock exchange within this country; it is called the Tadawul. However, having only one exchange is not necessarily a bad thing!
This particular one has been in existence for over twenty years and is recognized as one of the most lucrative across the globe. There are over three hundred and seventy billion dollars of funds invested in this market with in excess of one hundred and sixty eight firms included within this amount. There is no disputing that it is the largest and most financially secure stock exchange in the Gulf region. This fact is what has drawn many traders to the look at the Saudi Arabia binary options trading potential.
As with many of the Arabic countries, the recognized faith is Islam. Unfortunately, this religious belief is at odds with the idea of binary options in Saudi Arabia. This is mainly due to the fact that the strict religious laws forbid the generation or charging of interest. Unfortunately any trade which is left open overnight could potentially earn interest. It is not simply enough to say that you will close all your trades before the end of the day.
With the multitude of global markets available to trade in it would be too easy to miss one and inadvertently earn interest.