Forex trading is illegal, but is binary options trading illegal?

[EdwardNob]

Hello Traderji community,

I have been following various discussions on trading forex in India.

Trading currency pairs with INR not involved is illegal in India. No questions on that.

But, is trading Binary options illegal in India? There is a lot of difference between forex trading and binary options trading.

Please read this post www.forexcrunch.com/binary-options-vs-forex/

In Forex trading, we buy 1 lot of USD or EUR,etc, but in binary options we only have to predict if the price of an asset (for example currency pair or stock) will increase or decrease from its current price over a certain period of time.

Also RBI stated that margin is not to be used. Good news is Margin is not used when trading Binary Options.

Can someone answer this query of whether trading options is legal or not.

I have been earning Rs.2000/day from binary options. So I do not want to loose this opportunity.

[ekegeiploj]

It is more illegal and it involve a form of gambling ( binary options is nothing more than gamble and its a more correctly called as binary betting than as options )

[eiwelevadime]

Which binary options broker are you using? Are you getting the pay out from them?

[elebvdunoiv]

It doesn't matter if it is internationally legal or not - it is illegal to trade Forex trading in India as it involves risking/loosing foreign exchange.
Currency trading is allowed only in the exchanges with in India.

[admin]

Both Forex and Binary is legal guys,, For Roulette and poker is illegal because it is totally gamble.