Your question about the ruling on futures contracts on the Binance platform from a Sharia perspective is an important question, and it should be addressed with precision. Here is a summary of the ruling as reached by many contemporary scholars and fatwa committees:

Futures contracts on Binance – Are they haram?

Yes, **most scholars and Sharia bodies consider that futures contracts (Futures) in their current form on Binance and other similar trading platforms are haram according to Sharia, for the following reasons:

Reasons for prohibition:

1. Riba (interest):

In some cases, leverage is used, and it incurs interest if it exceeds a certain duration, or in the event of indebtedness, which falls under the category of prohibited riba.

2. Gharar and gambling:

Futures contracts often do not involve actual ownership of the asset, but rather a bet on the rise or fall of the price, which places it in the realm of gambling and significant gharar, both of which are prohibited in Sharia.

3. Lack of actual possession:

In Islamic Sharia, it is not permissible to sell what you do not own or have not taken possession of legally, and in futures contracts, there is no actual possession of currencies or assets.