Trading Binary Options In India – Not So Easy

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Trading Binary Options In India – Not So Easy

We receive many visitors to our site from India who are interested in trading binary options.

The ease of binary options trading or betting, (as it can be viewed in some cases) and the allure of fast and big wins of 70%-80% has gained quite a lot of attention from the Indian public recently.

Before we answer this question let’s look at the legal financial framework of the second most populous country in Asia. (China is first)

India is a democratic country with over 1.3 billion people, which makes it a huge marketplace ripe with many opportunities for financial services.

As in all big countries there are few regulatory bodies that oversee the entire finance industry in India, namely:

  • RBI – Reserve Bank of India – Controls money supply
  • SEBI – Securities Exchange Board of India – Protects investors by regulating stock exchanges or other security markets
  • IRDAI – Insurance Regulatory and Development Authority of India – Regulates the insurance industry and businesses
  • FMC – Forward Market Commission – Controls commodity trading on exchanges in India – now connected with SEBI
  • PFRDA – Pension Fund Regulatory and Development Authority – Regulates the entire pension sector in India

The main regulatory bodies responsible for financial regulation that would encompass binary options trading are the SEBI and RBI, although SEBI plays a more impactful role because it is directly responsible for protecting Indian investors.

Trading the Foreign Exchange Market is completely legal, but it is also extremely limited.

When it comes to Forex, you are only allowed to trade the Indian Rupee (INR) currency pairs on regulated Indian exchanges. These currently include USDINR, GBPINR, JPYINR, EURINR pairs.

To drive this point further, any trades involving only foreign currency pairs is deemed illegal.

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Moreover, as an Indian citizen trading in India you are not allowed to trade using margins, so all trades must be with a margin of 1:1.

According to the new FEMA – the Foreign Exchange Management Act, anyone engaged in overseas Forex trading is violating the foreign exchange laws set in India and can be sentenced to jail or fined.

Needless to say, that there are no Indian binary brokers and no company in India that can legally offer binary options trading to customers.

How people in India trade binary options

From the reports we gathered, we can see that there are a few options that Indian people resolve to in order to get involved in the binary options market.

Some traders simply don’t care about their country’s financial regulations and trade Forex or binary options on platforms outside of their country.

This of course can cause problems for them in the future, but only if the broker shares their information with the Indian regulators, which is quite unlikely, but cannot be ruled out completely.

If the trades and earnings involve small amounts than they can pretty much stay under the radar of the financial authorities in India, and many proceed to do so.

The more tech-savvy investors use Bitcoin to trade Forex or Binary options on overseas markets.

Bitcoin transactions are a lot more difficult to control by governments and can not be easily traced without proper court permission.

Some investors in India buy Bitcoin and then use that as a deposit with a Forex or Binary broker overseas, many of whom accept the digital currency for deposits and withdrawals.

Any profit made from trades can be withdrawn in BTC (Bitcoin) and then exchanged back to Rupee.

Most binary brokers in Europe and beyond accept Indian citizens as customers.

It seems, they are not very concerned with the FEMA Act. They believe it is the responsibility of the client to operate within the laws of his/her country.

Note that this article is written on 2nd of April 2020. Laws and regulation may have changed since then.

Please check SEBI at https://www.sebi.gov.in/ before trading binary options in India.

Are you from India? Please share your experience in the comment’s section.

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Web surfers signed into yahoo, add like to search results

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someone is listing viagra on my web site mwe3.com can you ask them to take it down! It is a music reviews site and not a viagra website!!

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What a stuffed search engine. How about results of the actual item we are looking for.

Results that are actually relevant to a search would make life more enjoyable. Not interested in all the totally unrelated **** you allow to appear as “results”.

Best Binary Options Brokers: 2020 Ranking
  • Binarium
    Binarium

    Best Choice! The leader in our ranking!
    Perfect for beginners!
    Free Demo Acc + Free Trading Education!

  • Binomo
    Binomo

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