Is Binary Options gambling?
Firstly, the most important things must be confirmed that binary option is not gambling.
It’s a little ridiculous that I have been asked so many times with only one question: “Binary options is gambling, isn’t it?” To the uninitiated and the uninformed, it’s quite easy to understand why they have such question. To them, trading in binary option is making money on the direction of assets, which is only up or down, no difference than as 50/50 or Black or White. It’s a serious misunderstanding. One must know that gambling completely depends on fortune, while binary options is not. Instead of investing emotionally, you have stopped gambling by applying even the slightest amount of knowledge on the markets to your trade. If you treat binary options trading like gambling, it’s no doubt that your trade would only result in the loss of funds before you know it.
Think about standing in front of the roulette table. Each number and color has a statistical probability. You have a for example, a 31.5% chance of landing on 1 to 12 or 47% chance of black or red. While the odds for successful investments with binary options are not that such simplicity.
Binary options trading is an investment based on various skills. For example, the skills of reading the market or the skills of judging how an asset will react to a high impact news event are really necessary. You have to work hard to accumulate your knowledge as well as experiences to have such skills. That’s clearly different from gambling.
In addition, set of odds on whether or not you will win your trade is not available. There are many factors will ultimately determine the success of your investments. So once you treat a binary options trade as a 50% chance, without doubt that your hard earn money will lose with no caveat.
To become a pro, any traders need an instructor that educate them before trading and help them undergo a lot of bad situations in the market. Instead of leaving their trades to fate, they use the knowledge and experiences they have to decide correctly to win the game. This is another difference between binary options trading and gambling. It also explains why games of skills such as poker are legal while gambling is against the law.
In Islamism, because of religious implication and its similarity to gambling, people are not allowed to make their investments. To avoid breaking the laws of God, there are some simple ways could be taken. As long as your trade is not involve with assets that are banks, insurance companies, car companies whose income is made from interest, food providers or alcohol or tobacco producers, your trade is allowed.
Finally, binary options is not gambling. Once you treat it as serious as other kinds of financial trading, it will be profitable and the results is definitely deserved for what you’ve spent. Opportunity knocks but once, therefore, don’t waste it.
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