Binary Options in India?

samkris94
samkris94 Posts: 20 ✭
in General
So in India, Forex trading and Gambling is illegal. BO has elements of both. Is there anyone in this community who trades BO in India? Is it legal? I have been searching online for months for an answer but there isn't any clear cut explanation. Some say it's illegal, others say it's not. I'm confused.
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  • BryanMac
    BryanMac Posts: 851 ✭✭✭
    this is a good read

    http://www.marketcalls.in/forex/forex-trading-in-india-legal-or-illegal-a-critical-analysis.html

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  • samkris94
    samkris94 Posts: 20 ✭
    edited January 2015
    Thanks for the link Bryan. It still doesn't address Binary Options though. What is your opinion? Looks like I may have to move out of the country. lol
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  • pdomico
    pdomico Posts: 2 ✭
    I am very new to this but I have noticed that some brokers are outside of the US, which makes me wonder if it's sketchy for me. I do have a partner from India that does forex trading, including binary.
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  • Yozshujind
    Yozshujind Posts: 87 ✭
    Just caught this thread, why do you need any explanations ? Simply look online for some broker who will accept people from India to Forex, Gambling or BO and collect reviews about them and their regulators and then decide for yourself is it worth it and that's it;)
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  • Gook32
    Gook32 Posts: 60 ✭
    I am also not sure if BOs are allowed to trade in India. You might ask your broker if you are dealing with one, and just ask for his advise what would be best way to approach to this issue, and switch any local trading bans
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  • Samuhn74
    Samuhn74 Posts: 66 ✭
    I am more than sure it's banned in india it was discussed on very major indian trading forums like for example tradingj.com and tradingqna.com and some other similar to that so go figure that please. Can you ? I am sure you will do that. Let's try out all that.
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  • Hulapointik
    Hulapointik Posts: 46 ✭
    I am more than sure it's already not worthy to touch binary options in India or whatever other country, do switch to something which is much more reliable and compatible. Can you please do that or we need to make it all ourselfs or not ? I do hope to make it wonder.
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