Saudi Arabia Binary Options
Although America is simply the biggest consumer economy on Earth, Saudi Arabia has been recognized as having an impressively large import and export market. In fact well in excess of one million firms work within the country and benefit from the excellent service, provided free of charge, by SAGIA. This investment body is a powerful organization. Combining its assistance and the fact that all foreign residents enjoy the same business and investment rights as people born in Saudi and you have a very attractive market place. 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.
Saudi Arabia Binary Options and the Stock Exchange
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.
Religion and Binary Options in Saudi Arabia
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. This means that Saudi Arabia binary options trading would be illegal.
This market is potentially extremely lucrative which has resulted in the brokers and traders operating within this industry looking at new ways of trading to comply with these strict laws.
How Saudi Arabia Binary Options Trading Works
The majority of the larger brokers now offer something called an Islamic trading facility. Some of the smaller brokerages are also starting to offer this service; although it is essential to ensure they have complied with all the relevant regulations. The main criterion is that they do not earn any interest and this is achieved by the brokerage automatically shutting all trades at the end of the day and reopening them the following morning. In this way it is possible to enjoy Saudi Arabia binary options trading.
To ensure you will be able to trade within this lucrative market the brokerage must include the Tadawul as one of the options. You will wish to try currency trading with the Saudi Arabian recognized currency; the SAR. It has been growing in strength rapidly over the last few years.
Islamic trading accounts do not just allow you access to binary options trading in Saudi Arabia. They will allow you to trade in any Islamic based country without offending their national religion or trading illegally. The lower charges created by complying with their religious trading laws can make this an extremely lucrative market. This is evidenced by the fact that trading in Saudi Arabia is rapidly being recognized as the predominant binary options market on the planet.