Forex trading is illegal, but is binary options trading illegal?

[Mahendhar]

Hello Traderji community,

I have been following various discussions on trading forex in India.

Trading currency pairs with INR not involved is illegal in India. No questions on that.

But, is trading Binary options illegal in India? There is a lot of difference between forex trading and binary options trading.

Please read this post www.forexcrunch.com/binary-options-vs-forex/

In Forex trading, we buy 1 lot of USD or EUR,etc, but in binary options we only have to predict if the price of an asset (for example currency pair or stock) will increase or decrease from its current price over a certain period of time.

Also RBI stated that margin is not to be used. Good news is Margin is not used when trading Binary Options.

Can someone answer this query of whether trading options is legal or not.

I have been earning Rs.2000/day from binary options. So I do not want to loose this opportunity.

 

[fxgood]

It is more illegal and it involve a form of gambling ( binary options is nothing more than gamble and its a more correctly called as binary betting than as options )

 

[thangamani88]

Hello Traderji community,

I have been following various discussions on trading forex in India.

Trading currency pairs with INR not involved is illegal in India. No questions on that.

But, is trading Binary options illegal in India? There is a lot of difference between forex trading and binary options trading.

Please read this post www.forexcrunch.com/binary-options-vs-forex/

In Forex trading, we buy 1 lot of USD or EUR,etc, but in binary options we only have to predict if the price of an asset (for example currency pair or stock) will increase or decrease from its current price over a certain period of time.

Also RBI stated that margin is not to be used. Good news is Margin is not used when trading Binary Options.

Can someone answer this query of whether trading options is legal or not.

I have been earning Rs.2000/day from binary options. So I do not want to loose this opportunity.

Hi Mahendhar,

Which binary options broker are you using? Are you getting the pay out from them?

 

[jagankris]

Forex and Binary both are Internationally 'Legal Business' and most Reputable forms of business. Thus, few countries like Pakistan may don't allow this doesn't mean these business are illegal.

With CToption, I have been trading from Ukraine for 2 years and I have don't problem at all. My broker supports me Best.

It doesn't matter if it is internationally legal or not - it is illegal to trade Forex trading in India as it involves risking/loosing foreign exchange.
Currency trading is allowed only in the exchanges with in India.

 

[James Martin]

It is more illegal and it involve a form of gambling ( binary options is nothing more than gamble and its a more correctly called as binary betting than as options )

I agree with you.

 

[edowibawa]

Both Forex and Binary is legal guys,, For Roulette and poker is illegal because it is totally gamble.

 

[Tavnaz]

I agree with you.

Both Forex and Binary is legal guys,, For Roulette and poker is illegal because it is totally gamble.

I don't know what picture people get when they think of binary options.
Almost 90 percent think it is gambling,for sure it will be gambling when you are using wrongly structured binary options,with the most biggest scam brokers on the planet.
For all forex binary fans,who despise delta,theta,gamma and vega,you can use binary options to limit your exposure,in a more safer way,by choosing the right broker.
There was one such broker nadex,that i have come across they give several binaries with strikes you can choose from their strikes table,unlike the more crappy made up gambling binaries where you just bet on above or below current market price.
You can choose strike prices with nadex,to employ different trading strategies,
They even give a demo account.

For sure 60 second-60 minute binary is pure gambling, but several hours binaries, with strike price to choose from it is not.
I am not affiliated with them,neither trade with them,but have traded demo with them,they offer whole new opportunities.
Anyways i was just pointing out how gambling word is soo much used when all people are doing is trading stupid binaries where they bet on will price be up or down in next 1 minute from current market price,how stupid is that haha.

only downside is fixed outcome,but even that can be properly used,with right amount of neurons.
for those scratching their heads for ideas imagine a binary 15 pips above current market price,and 15 pip below market price.
And it is an asian session.
You could sell one binary with strike 15 pips above current market rate.(going short the statement that price will be up)
Buy one binary with strike price 15 pips below market.(going long the statement that price will be up)and cash in on no volatility in asian hours,but that kind of flexibility you can never have with stupid binaries based on current market price.

Or way out of money binary with very poor R:R but great probability for success.

Binaries are just poorly understood and very poorly marketed by bad brokers.
It is not gambling.
Take care

 

[wayway]

really nice and understandable explanation sir. For right broker, I totally recommended and suggesting Mazyus and Liteforex broker. Have great credibility, fair, responsible, and never against its clients.