It is always a matter of confusion among people, is binary trading legal in India or not and Is IQ option banned in India? To understand this and break the confusion, you must know what binary trading is and its works. In this article, we will discuss binary trading and is binary trading legal in India, is IQ option legal in India, and is IQ option banned in India or not?
What Is Binary Options Trading with IQ Options Legal in India 2021?
Before coming to “is binary trading legal in India and is IQ option legal in India 2021, we must know what binary trading is. Let’s have a look. Binary options trading in India is a financial product in which the payoff is either in the form of a fixed monetary amount or nothing at all. Binary options trading is one of the simplest forms of trading options that enables investors on whether the price is speculated or not in the future. Understanding the working principle of binary options trading, A trader assumes that Tata motors stock price will touch Rs. 950 in a month.
He fixed the binary payoff at Rs. 500. At the time of the expiry date, the option closes at Rs.955 which is near its prediction, so he will receive Rs.500. In the event, if it has closed below Rs.950 the trader will get nothing. Hence, this is a simple binary trading methodology. If the IQ Option is legal in India, any investor can make money from this. Now, let’s understand, Is Binary Trading Legal in India 2021 or Not?
Is Binary Trading With IQ Option legal in India?
When it comes to binary trading is legal in India, there are a lot of questions among the traders like, “is binary trading legal in India or is IQ Option legal in India? Though binary trading is one of the easiest forms of trading and gives you a huge profit, some countries prohibit it, in which India is the.
As per the Reserve Bank of India guidelines, traders of India cannot do any type of foreign online trading. Binary trading with the IQ option is completely against the law and prohibited. The Foreign Exchange and Management Act prohibits traders to participate in any form of forex trading. Hence, the binary trading option in India is good for nothing.
Binary options trading in India is a sort of grey area for traders and this is the reason why binary options trading in India is frowned upon. This thing upsets most traders because of this. While forex is controlled and closely monitored by the Reserve Bank of India and the Securities and Exchange Board of India, binary options trading in India is not so the SEBI binary options are not authorized. Because the traders in India are a bit anxious about binary options legal in India. In the other parts of the world, binary options trading is legal and is also not controlled by the government. That way, traders can invest to their heart’s content in binary options trading in India.
To the questions like, “is binary trading legal in India 2020?” and “is binary trading legal in India or Is IQ option legal in India?” is a hard no.
Do Binary Trading Brokers Accept Indian Traders?
As a trader you might be disappointed if you ask us, “is binary trading legal in India 2020?” but we can tell you whether binary trading brokers from other countries accept the trader from India who is willing to invest in binary options in India.
Traders can invest in binary trading options in India because brokers who deal in binary trading in India do not need a license from the Reserve Bank of India and the Securities and Exchange Board of India to operate. Traders who are interested in binary options trading in India can simply register with the IQ option application and can start investing in binary trading in India.
Bharat option app reviews are great and can be used for binary trading in India as it is very trustworthy. There are a few brokers who are popular among traders, they provide free lessons to those traders who are interested in investing in binary options trading in India. When new traders start trading in binary trading options in India, they should start by doing so with a demo account.
First Thing to do with Binary Options Trading in India
Traders who want to invest in binary trading options in India should first open up a free demo account to see what binary trading India is like. The government of India has not exactly made binary trading legal in India but traders can experience real market-like situations through the demo account without having to worry about the fear of losing real money. After the traders have gathered a sufficient amount of information about trading, the investors can open up legit binary options trading in India accounts without any fear.
The popularity of IQ Option in India
Indian traders are prohibited from the premium investment options like blue stocks and private property. They can get high returns of investment on spending small capital. There are several motivations to choose binary trading with IQ option is legal in India.
You can start IQ option trading in India with a relatively small amount and earn a lot of money by taking the help of the broker. The IQ option trading registration process is very simple. Once you have created an account for trading all you need is to do an IQ option login. There are no doubt IQ options in India will keep growing exponentially and gaining the acceptance of the traders due to its great level of services. If you want to trade with a trusted agent then the IQ option is the best for you.
Opening an IQ Option Account in India
The IQ option provides binary option trading along with a host of other trading options. It is excess in 150 countries accumulating a large number of the user base. If you are willing to open an IQ option in India, then you have come to the right place. Now, we are going to tell you how a trader in India can open an IQ option account effortlessly.
Steps to Open an IQ Option Account in India
Now that you have an answer for “Is IQ option legal in India?”, Indian traders who are willing to open an IQ option account for trading, first need to get a national ID for a guarantee against money laundering. They have to show their PAN ID to verify the account. Below we have mentioned the steps of opening an IQ option account in India.
Step1: First head over to the official website of the IQ option and duly filled an application form.
Step2: After filling in all the mandatory details, switch to the profile section to complete the phone number verification.
Step3: Traders can also send their PAN address if recommended.
Step4: You will get a verification email at your email address or a phone number.
Step5: Once the verification process has been completed, you can deposit the amount and start IQ option trading.
Best Brokers for Binary Options Trading In India
Because most people are not sure whether binary options trading is legal in India or not, it is best if the trader wants to do binary trading in India, they get themselves the best binary trading in India brokers. Traders know binary options legal in India but should only trust the best brokers.
Many factors need to be considered before and while investing in the various binary trading in India. Some of the factors of binary trading in India that need to be considered before binary trading are customer support, payment, advanced features, etc.
The following are some of the best brokers of binary trading in India.
1. IQ Options
- Free of cost educational materials.
- Provides a free Demo Account
- Traders can start trading with a $10 deposit
- Provides funding that is both quick and easy.
- Only requires a deposit of $5
- Provides a free Demo Account
- Provides funding and withdrawal that is quick and easy
- Traders can engage in quick account opening and verification
- Provides free of cost education and training
- Accepts Paytm for those traders who are Indian
3. Expert Opinion
- Only requires a deposit of $10 deposit
- Has a quality app that can be operated from desktop, iOS, and android
- Provides a demo account for practice with $10,000
- Ensures safe and secure trading in a transparent environment
We have researched a lot about “is IQ option legal in India”. And we have come to the conclusion that binary trading is not prohibited in India, but forex trading is prohibited. As per the RBI guidelines traders can trade in EUR- USD, GB-USD, and USD- JPY. So as per the RBI guidelines, it is legal to trade in currency. As per the current rules, the answer to “is IQ option legal in India” is yes because it is one of the most authentic brokers in the market.
Is Binary Trading with IQ Option Legal in India – FAQs
Q1. Is IQ options legal in India 2021?
Ans. When binary trading with IQ option is legal in India, there are a lot of questions among the traders like, “is it safe to play binary trading in India or not”? Though binary trading is one of the easiest forms of trading and gives you a huge profit, some countries prohibit it, in which India is one. As per the Reserve Bank of India guidelines, traders of India cannot do any type of foreign online trading. Binary trading with the IQ option is completely against the law and prohibited.
Q2. What is the punishment for binary trading in India?
Ans. Yes, as it is prohibited by RBI and SEBI, there can be a huge penalty as the punishment for binary trading in India.
Q3. Is IQ option India legal or illegal? Or Is IQ option safe in India?
Ans. The answer for Is IQ option India legal or illegal is- The IQ option in India is illegal is not done according to the rules. Also, For is IQ option safe in India, the answer is yes but should be done vigilantly.
Q4. Is binary option trading legal in India?
Ans. The answer for “is Binary option trading legal in India” is yes but needs to follow the SEBI and SBI rules.