Is Binary trading in IQ option legal in India
Overview of IQ Option
IQ option is a multi-asset trading platform that allows investors to trade binary options, forex, ETF commodities, cryptocurrencies, etc. However, this trading platform is not regulated in many countries; that’s why many investors ask, “Is IQ option legal in India?”
IQ option in India is not a new trading platform. In fact, in the past decades, it has achieved huge popularity in the market. It is considered as an effective investment option to earn passive income.
IQ Option Trading in India:
Unlike many other countries, the IQ Option is not legal in India. According to the Reserve Bank of India, “Indian citizens are prohibited from investing in binary trading.” So, suppose you are thinking of getting into the cryptocurrency, forex, or other IQ trading option. In that case, it is advisable to investigate the rules and regulations of Indian trading.
How to Trade Binary Option in India?
When it comes to binary trading, many questions arise “Is IQ trading legal in India” and then it is not easy to answer. There is only one way to invest in binary trading is an offshore binary broker. Several offshore binary brokers worldwide help you invest in the IQ options no matter where you live.
As SEBI and Forex Exchange and Management Act don’t favor investing in binary trading, you have to invest at your own risk. However, taking a risk is worth it because if your strategies work, you will get immense ROI.
By following below mentioned steps, you can trade in the IQ options in India-
Choose a trustworthy offshore binary options broker and sign up at his site.
Open a trading account.
Next, select the assets in which you are interested in investing.
Choose an amount to invest in binary trading.
Now, trade the options.
The outcome depends on the strategy you have executed during a trade.
Now your query “Is IQ option legal in India” has cleared to some extent. Now, we will tell you the three types of IQ option accounts used by Indian traders.
IQ option demo account: You can open this account at zero cost. With this account, a trader doesn’t need to trade an IQ option in India with real money.
Standard account: It’s an entry-level account that allows traders to trade with the minimum amount.
IQ Option VIP Account: With this account, a trader will get a personal manager who can help him in trading.
IQ Options Features:
If your doubt on “Is IQ option is legal in India” has been resolved, then it’s right to learn some of its popular features.
Trading Tools and Charts: IQ trading platform has come with technical indicators, widgets, like ‘News’, ‘other traders’, ‘High and low values’, and ‘Volumes’. With an IQ option, you can directly trade from the chart as well. It is very easy to switch between different instruments. You can use several kinds of charts and widgets to strategize your investment.
News and Calendar: The performance of the financial market is impacted by the news, economic, political, and so forth. This trading platform updates you by acknowledging you about ongoing events. So, you don’t need to watch news channels to get updates about market performance.
We hope after this guide on Is IQ option legal in India got successfully in resolving your query. If you really want to invest in binary trading, then it is advisable to take the help of offshore brokers and start with a demo account. Once you learn how the IQ option in India works, then switch to a standard or VIP account.