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Is binary trading permissible in Islam? If it is not, could you please provide an explanation for the ruling?

Options trading
Is binary trading permissible in Islam? If it is not, could you please provide an explanation for the ruling?
Sayyed Mohammad Al-Musawi, Sayyed Mohammad al-Musawi is originally from Iraq and heads up the World Ahlul Bayt Islamic League in London. Other than being involved in various humanitarian projects, he frequently responds to... Answered 1 year ago

Binary option is not permissible because it is a form of gambling and it is not a real trading. Binary option is based on betting in which a zero-sum game exists and those who make money from it take that money from money lost by other dealers.

Wassalam.