is Binary Trading legal in India

I want to know whether binary trading is legal with broker like IQ OPTION. According to them it is legal and they say their are a lot of traders from india which trade with them, while some articles say binary trading is illegal in INDIA and is an non-bailable offence.

Answers (1)

The Foreign Exchange and Management Act (FEMA) prohibits binary trading or forex trading in India through electronic or online trading portals. Any investor who takes up binary options in India does so on his own risk, with no law to regulate dealings of binary trading options in India. SEBI DOES'T ALLOW BINARY TRADING APPROX FROM FEB 2017 ONWORDS.


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