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Unlike many parts of the world, there is nothing written like doing trade on Binary Options is illegal in India accordingly FMEA Act. But it is illegal to trade Binary Options in India. 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.
Tradi...
Wazzeer Professional Network
ProfessionalIs Binary Options trading legal in India
Is Binary Options trading legal in India, if done on foreign electronic platforms (eg. IQ Options, Expert Option) on assets other than forex, such as equities and commodities, and in accordance to the norms of FEMA?If no, then please mention specific details of the law/act being voilated in doing so. If someone (Resident Indian) wants to do Binary Options trading in India or on some foreign platform, how can he/she do it in a perfectly legal manner. (Someone suggested to get a company incorporated for doing so, please explain, whether it is possible and how.)
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Wazzeer Professional Network
ProfessionalUnlike many parts of the world, there is nothing written like doing trade on Binary Options is illegal in India accordingly FMEA Act. But it is illegal to trade Binary Options in India. 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 trading’s, but there is no licensed 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.
Even in near future it is made legit it’s pure gambling on options and has a chance of 100 percent and same chance of losing so it’s good to invest in other investments option which have stable and better returns.
'Get a Wazzeer' to get this service delivered seamlessly online. Try it!
over 4 years ago
View answer
Is Binary Options trading legal in India
Is Binary Options trading legal in India, if done on foreign electronic platforms (eg. IQ Options, Expert Option) on assets other than forex, such as equities and commodities, and in accordance to the norms of FEMA?If no, then please mention specific details of the law/act being voilated in doing so. If someone (Resident Indian) wants to do Binary Options trading in India or on some foreign platform, how can he/she do it in a perfectly legal manner. (Someone suggested to get a company incorporated for doing so, please explain, whether it is possible and how.)
-
Wazzeer Professional Network
ProfessionalUnlike many parts of the world, there is nothing written like doing trade on Binary Options is illegal in India accordingly FMEA Act. But it is illegal to trade Binary Options in India. 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 trading’s, but there is no licensed 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.
Even in near future it is made legit it’s pure gambling on options and has a chance of 100 percent and same chance of losing so it’s good to invest in other investments option which have stable and better returns.
'Get a Wazzeer' to get this service delivered seamlessly online. Try it!
over 4 years ago
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