Last updated on July 20th, 2021 at 12:42 pm
There has been an exponential growth in the popularity of binary options trading on a global level, mainly due to the influx of many online brokerage sites offering binary and other types of trading to users worldwide.
When it comes to India, the largest democracy in terms of population, binary options have entered the Indian markets, albeit in a slow and sluggish way.
Part of this must be with the unclear and ambiguous rules in place when it comes to trading activity like this, and many traders are still unaware of the legal status of IQ option trading in India.
What is Binary Options Trading in India?
IQ option is a European company that allows international traders or investors to bet on the market price. It’s an international trading platform where you can trade on a variety of financial instruments in one click.
Here financial instruments are stocks, binary options, commodities, indices, and Forex. And one of the common and popular IQ option products is Binary options. This international trading platform is regulated by the European company Cyprus Securities and Exchange Commission.
Is IQ Option Legal in India?
Many Indians ask is IQ option legal in India? Off-Course Yes, you can effectively trade on the financial instruments that we have mentioned below-
1. CFD on Stocks
IQ Options is a comprehensive trading platform that is Contract for Different based (CFD). It implies that a trader can trade in the price movement up or downward.
Traders from across the world can trade on the 12 different cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ripple, Monero, Omisego, Zcash, IOTA, and Dash.
This financial instrument is relatively new in the market. Traders can trade this product in the same way they trade on common stocks. There are approximately 488 ETFs.
Forex trading has gained huge acceptance in the market. Because it allows traders to trade on their favorite currencies hassle-free. To trade successfully in the forex market, you must select good forex micro account brokers.
Traders can buy and sell shares of different classes like commodities, derivatives, currencies, stocks, and indices.
If your query Is IQ option legal in India then let us tell you. The company allows investors of any country to trade on the financial instruments effectively.
Is Binary Options Trading Legal in India
There is no legal restriction on binary options trading in India. However, an Indian trader who is willing to do binary trading in India has to obey the laws. They can trade by following some rules that are set by the SEBI and reserve bank of India. As of now, IQ option is legal in India and anyone can register on this platform and trade effortlessly.
You can also get in touch with the IQ option team to find out is binary trading is legal in India. They will tell you everything about the benefits and consequences of it.
How does IQ Option Trading Work in India?
Many traders in India still don’t believe that the IQ option is legal in India. Before entering the international market, they often search this query “Is IQ option legal in India”. And fortunately, Google results always say “Yes”.
Now we are going to tell you how IQ option India works- And also resolve your query is binary trading is legal in India.
To take the benefits of IQ option legal in India. First, you need to create an account on the IQ option platform. Enter all the information like the first name, last name, email address, password, phone number, country, and date of birth.
Once you have completed the IQ option account procedure, you can begin the IQ option India trading process.
It is essential to learn all the features of this trading platform. Like, if you want to do binary trading in India, it is essential to learn all the tactics. You will get many videos on trading on each financial instrument. There are many FAQs available on this platform like is binary option legal in India, how to do binary trading, and so forth.
If you want to know how much money you will get on investing in IQ options trading, then it depends on your knowledge and strategies you have used in binary trading. The return of investment you will get is directly withdrawn from the platform anytime.
Legal Status of Binary Options Trading in India
In India, IQ options trading is classified as securities trading although many contests this. The Securities and Exchange Board of India or SEBI is the regulatory body responsible for regulating the securities market in India. Having received its statutory powers in 1995, the SEBI has authority over the activities of any broker, company as well as any individual investor, ensuring that the integrity of the Indian securities market remains intact. The SEBI has come under criticism in the past, citing its unchecked power as the main reason.
Thus, for Indian traders who wish to trade binary options, they must consider the fact that trading with an international broker without the consent of the Indian regulatory body is against the law. Additionally, the IQ option legal in India for the Foreign Exchange and management act has outlawed binary trading and forex trading if traded through an electronic or online brokerage service. Despite this, many Indian traders look to trade binary options regardless of their legal status and ramifications.
Choosing an International brokerage service, in this case, maybe the solution, although strict vigilance is advised to avoid fraudulent schemes and scams. An international broker that is licensed &certified under an international regulatory authority and has a good reputation should be chosen. IQ option is an example of a Cyprus based Trading platform that is registered under CySec is a recommended option.
Opening an IQ Option Account in India
The IQ Option in India offers binary options trading along with a host of other trading options, available in excess of 150 countries worldwide accumulating a large user-base as a result.
For Indian traders, opening a real account with IQ Option requires a national level ID for guarding against money laundering, and to verify their account. Using a PAN ID Card, in this case, is recommended. The following steps explain in brief the whole procedure:
- Filling out the registration form after logging into the website
- After filling in details, head over to the profile section to complete phone number verification.
- Users can also send their national ID as discussed above to their official mail: docs@iqoptiondotcom
- A verification mail will soon be received by the user after verification is completed. The wait time is usually 24-48 hours.
- After that, the user can deposit and withdraw funds from the trading account. The minimum deposit amount is fixed at $10.
You can also test the IQ Option with a free unlimited Demo Account. More information and the possibility to open an account you will find on our website.
Depositing and Withdrawals
In the case of depositing funds, Indian traders do not have the power to make international payments through debit cards due to RBI regulations. Using Skrill (money bookers) is thus recommended even though there are other options such as Neteller and Web Money.
In the case of withdrawals, IQ Option makes timely payments to their users without fail. To ensure this, they provide withdrawal proof that provides the user with information such as transaction and reference ID, the exchange rate used, the amount received, etc.
Depositing to IQ Option in Case of Master Card Holders
Users from India along with other countries such as Thailand and Sri Lanka can experience difficulties when using a Master card to make deposits to IQ Option. This is mainly due to a recent rule change, where MasterCard changed the Merchant Category for IQ Option. As a result, there can be a few snags and delays in the process.
IQ Option has come up with an alternative for such cases, by providing different payment processing options with Skrill, Neteller, WebMoney, ADVCash, and AstroPay Card.
With the popularity of binary options increasing as the days go by, a large percentage of traders from countries such as India have been trying to get into the global binary options markets. IQ Option seems to be a verified and legitimate broker you can trade with.
We hope your doubt “is binary option is legal in India” gets resolved. If you want to trade on international currencies, you can do so with the help of IQ options in India platform. The binary options trading in India is restriction-free. There is no doubt IQ option is legal in India; any individual starts trading with IQ option effortlessly.