Is Quotex Halal or Haram? (2025)

Quotex is a popular binary options trading platform, where users predict whether the price of an asset will go up or down within a short time frame. However, as a Muslim trader, you probably ask: is trading on Quotex halal? The short answer is: 

Quotex is considered haram because it only offers binary options trading, which involves excessive speculation (gharar) and resembles gambling (maysir), both of which are strictly forbidden in Islam.

If you are a Muslim trader who wants to trade on a Sharia-compliant platform Quotex is not a recommended broker for you. Instead, we suggest you to check out the Islamic account of Olymptrade, which provides a similar trading experience to Quotex, but it eliminates interest rates, swap charges and offers more Shariah-compliant trading options.

In this article, we will explain the basic principles of the Sharia law for online trading, why trading on Quotex is considered haram, and how you should trade on Shariah-compliant platforms, like Olymptrade.

Sharia Law About Online Trading: What Makes Trading Halal or Haram?

Before we explain why we consider Quotex haram, we briefly outline trading activities that are considered haram by key Islamic rulings, including Resolution No. 63 of the Islamic Fiqh Council and Fatwa No. 28/DSN-MUI/III/2002 by the Indonesian Ulema Council (MUI):

Now that you understand the basic principles for halal trading, let’s analyze the Sharia-compliance of Quotex.

Why is Quotex considered haram?

Quotex is considered haram (not Sharia-compliant) because it is a high-risk, speculative trading platform that violates several key principles of Islamic finance like gharar, maysir and lack of asset ownership. Let’s analyze the features of Quotex to better understand why it’s not suitable for Muslim traders:

1. Quotex Offers Binary Options Only

Quotex is solely a binary options trading platform, which is inherently speculative (gharar) and resembles gambling (maysir), as you essentially bet on price movements in a very short time frame (usually 1-5 minutes), in an all-or-nothing style.

Trading in such short timeframes increases volatility, making the outcome of the trade more unpredictable and risky.

Additionally, you don’t own the underlying assets, which violates the principles of real economic participation required by Shariah law. Quotex only offers binary options (also known as fixed time trading) and no Islamic trading accounts, so there is no way to use Quotex in a halal way.

2. The payout structure of Quotex Violates Fair Risk Sharing

Quotex uses a fixed, unfair payout structure, where traders lose 100% of their investment for wrong predictions but win only 20-93% for correct predictions. For example, if you invest $100 and predict the price of a currency pair will rise within one minute, Quotex typically gives a fixed payout of 80% if your prediction is correct. Your profit remains capped at $80, even if the price increases significantly. However, you lose the entire $100, even if your prediction is just barely wrong.

Additionally, Quotex does not provide clear information about how it calculates payouts or sets the pricing for trades. For example, you may see a payout rate of 80% for a specific asset, but you don’t know how this payout percentage is determined or whether it reflects market conditions accurately. 

This unfair pricing system creates an imbalance in risk and reward (which is considered gharar), where traders bear most of the financial risk while the Quotex benefits regardless of the outcome.

3. Quotex is unregulated

Quotex is an unregulated offshore trading platform, which enables it to use unfair business practices, such as:

In fact, Quotex is known for regular account blocks, denying withdrawal requests and offering hidden deposit bonus terms, which violates the Sharia principle of fair risk-sharing and transparent agreements to avoid gharar (uncertainty).

Halal Alternatives to Quotex

If you are a Muslim trader looking for a halal alternative to Quotex, we suggest you try Olymptrade; here’s why:

Read our article to learn more about how to use Olymptrade in a Sharia-compliant way, We recommend you try their demo account to practice trading first since you don’t risk your money while deciding whether Olymptrade is the right broker for you to trade.

Conclusion

We don’t recommend Quotex for Muslim traders because there is no real way to use it in a halal way. Quotex is not only haram because it only offers binary options trading, (which is considered haram by most Islamic authorities), but also because of its lack of transparency, regulation, and compliance with Sharia principles like fair risk sharing and asset ownership.

If you are looking for a beginner-friendly, simple and exciting trading platform, we recommend you to try Olymptrade, because it offers similar features to Quotex, but it also offers halal trading practices, such as real stocks, commodities, or forex trading through Islamic accounts.