In India Sebi doesn't allow binary options on regulated derivative exchanges and they are illegal.
Binary options legal in india (iqoption.com)?
Dear Sir, i want to play binary options, i'm form india please let me know if its legal, and i can play it.
Asked 7 years ago in Business Law
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6 Answers
Playing of binary options in Forex is very much valid and there is no legal impediment in investing money .
However do chose carefully the good firm while investing money.
Consult your personal Banker beofre playing in this field as it requires great skill and knowledge of market.
these is pretty confusing. 2 deferent advice. please help me more to understand what is right. thanks
Asked 7 years ago
read article in economic times dated 5/2//2016 wherein it is mentioned that SEBI does not allow binary options
There is no provision of law in place as yet which makes it illegal India though BSE, NSE or regional stock exchanges do not allow this type of trading.
Binary Options are not traded on BSE, NSE , NCDEX or MCX, the recognized Exchanges in India. Neither do SEBI rules permit trading of Binary Options.
Trading through online brokers in Foreign Currency may lead to violation of FEMA. ( Foreign Exchange Management Act ).
Any form of betting or gambling and transferring money for lottery , sweep stakes (which covers this binary options/betting under technical definition is illegal under FEMA )
In India the SEBI is the regulatory authority for such tradings, but there is no licenced broker for this,.
Binary option trading has no legal permission in India.
Since it is no different from gambling, many countries including India has outlawed the binary option.
if you traded at a regulated and licensed broker You have options.
If you traded at an unregulated broker, will make it MUCH HARDER to take legal action.