Binary options in india

I have searched a lot on this topic but still it is not clear to me. i had a conversation with an expert who also failed to provide a satisfactory answer Here's the problem - Forex trading is illegal in INDIA because it involves margin trading (it is legal only if the currency pair involves Indian Rupee - INR like EUR/INR, JPY/INR etc as well as 3 cross currency pairs which are EUR/USD, GBP/USD, USD/JPY and also if done from a recognized stock exchange) But i don't know about Binary Options.. binary options are not regulated by SEBI but does that mean it is prohibited under the law? there is no specific law for binary options For example, the following rule states that the Forex Trading is illegal.but does it apply to binary options RBI/2013-14/265 A.P. (DIR Series) Circular No. 46 dated [deleted] Binary options are very much different from Forex Trading as there is no MARGIN TRADING involved.. there is no sale and purchase of currencies. It is just a speculation on the price movement. I know some people who have made this their permanent source of income I am a binary options trader for the past 10 months Now i want to make it my main and permanent source of income please help me understand the rules