No, trading with IQ Option is not halal. Despite the availability of an “Islamic account,” the practice of binary options trading offered by IQ Option is considered haram due to its resemblance to gambling and the inherent risk and uncertainty involved.

Explanation:

1. Binary Options Trading:
   • Binary options trading, which is the primary method used by IQ Option, is akin to gambling. It involves placing a financial stake on the direction of price movements within a set time frame. If the prediction is correct, the trader earns a predetermined profit; if not, the entire stake is lost.
   • This method is considered “bay’ al-gharar” (trading in ambiguity), which is prohibited in Islamic finance.
2. Islamic Account:
   • While IQ Option offers an “Islamic account” that claims to comply with Islamic principles, the core activity of binary options trading remains problematic and non-compliant with Shariah law.
   • The Islamic Fiqh Council has issued a resolution stating that options contracts are not permissible as the object of the contract is not a tangible asset, benefit, or right that can be compensated.
3. Scholarly Opinion:
   • Islamic scholars and financial experts have emphasized that such trading practices lead to the quick loss of capital, contradicting the principles of preserving wealth and avoiding high-risk transactions.

Sources:

• Islamweb Fatwa
• Tadawul School

And Allah knows best.