Author: Jacob Bailey
Market Analyst
Jacob Bailey

Binary Options India

India Country

Like many parts of the globe the popularity of binary trading in India has experienced huge growth.

Binary options are used as a way to make an income in a manner that is both straight-forward and enjoyable. Many traders make extra cash or even operate full-time as investors. To get started you'll want to register with a safe and secure broker and test them out, use the demo account or educational tools to get started.

In this article, you will learn:

  • The brokers best suited to your needs
  • What local payment methods are accepted
  • Taxes and fees that apply to IN residents

Recommended binary Websites Updated: February 2019

Risk Warning / Ad Disclosure

Risk Warning: The trading products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never trade money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Websites You Should Avoid
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Traders in India

India Brokers

With India being seen as a prime growth economy, with growing manufacturing and service industries, online trading has become a welcome choice to many residents who view this as a viable way to make a profit or earn an income. With Indian assets being more widely available on the many broker platforms and the increased use of smart phones, Indian binary options trading is now more accessible than ever.

Unfortunately, due to the lack of recognition and regulation of binary options in India, by the government, it is hard for Indian companies to enter the market place so many top brokers tend to be European based. So how do you choose the best broker for you and what should you be looking for?

Licensing And Regulation

Choosing an offshore broker is fine as long as they are licensed and regulated. As many tend to be European you should really be looking for CySEC, FCA or MiFID licensing and regulation. This way you will feel more comfortable about investing your money.

Top Range of Assets

If you have a particular asset or assets that you want to trade in, you need to make sure that the broker offers these assets. Some only offer a handful, unless you open a premium account, and some offer hundreds. Make sure they offer those that you want to trade in and those that you might want to trade in when you have more experience.

The Greatest Payouts

We say reasonable because often payouts that seem too good to be true can be. Look out for an average of between 70-85%. Don't settle for too low and don't get enticed by payouts that are too high, unless they are related to a VIP account.

Good Customer Support

One of the things that may be of concern using an offshore broker is what happens if something goes wrong. What if you have a question or need help with an issue? Look at the customer support options that they offer. Good brokers have customer support advisors that will be able to help you via live chat, telephone or email.

There is one thing lacking when it comes to trading and that is the language barrier. Whilst many brokers offer their sites in a variety of different languages from Spanish to Arabic there is no one trader yet that offers the trader the chance to trade in Bengali or Hindi. Despite this it doesn't appear to have deterred traders but it could be said that the first broker to cater for this could be the one that gets a real edge in Indian trading.

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Broker Fees And Tax

Having had much focus on the profits from binary trading, India last year introduced a government crackdown on black money. This was aimed at money hidden away in off shore back accounts. There was a 90 day compliance window from 1st July to 30th September 2015 for people to declare their earnings and pay the relevant tax due. Much the same as Russia, Indian government is keen to stop this out flow of money from the country.

With regards to the tax due on options trading it is treated like any other income and liable to the income tax laws of that country. A broker has no duty to declare the earnings on your behalf so it is up to the individual to declare as part of India's tax rules.

Besides having to pay Indian taxes on profits the only other fees to consider are those for making deposits and withdrawals. If you are depositing and withdrawing in a foreign currency then you will be subjected to the usual currency conversion fees. Also when using a credit card or web wallet there may be fees per transaction.

Consider whether it is cheaper to make fewer transactions of a higher amount rather than making lots of small transactions. If your payment facility charges a fixed amount per transaction as opposed to a percentage fee then it is definitely a good idea to make as few withdrawals and deposits as possible.

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Indian Licencing

When looking at the legalities of binary options, India is a hotly debated topic. Is it illegal to trade binary options in India? The short answer is "No" it is not illegal to trade online. It isn't regulated though and this is where the discrepancies and confusion lie. There is a big difference between unregulated and illegal. With no SEBI licensed Indian brokers it would seem that the common trend is to obtain European licensing. This could be seen as a gap in the market and a chance for some to enter.

First brokers must be licensed by SEBI, the Securities and Exchange Board of India. There are currently no Indian binary options brokers that are licensed by SEBI which is largely due to lack of Indian regulation and the fact that most brokers focus on the European markets.

Many brokers are very keen to obtain CYSEC licensing. CYSEC is the Cyprus Securities and Exchange Commission and is widely recognised as the best licensing to have, in fact the majority of recognised and reputable brokers are licensed and registered in Europe.

With the lack of licensed SEBI brokers one can safely assume that there are no locally based brokers, at least none that you would want to risk investing your money with. You are much better off looking through our list of recommended licensed brokers to ensure that you are going to be trading via a trusted and reputable company.

Don't be lured in by offers that seem too good to be true by brokers claiming to be legitimate Indian brokers. Whilst the prospect of using an Indian broker is very appealing you will probably find that the experience is not all you hoped it would be in the long term.

If you're into trading binary options, then India doesn't disappoint.

How we Recommend Brokers

It doesn't matter if we're reviewing brokers from the world over, say Thailand or even Brazil, how we rate and review the best India binary options brokers is no different in one country to another. As most of the best out there are European brokers, what we're looking for is what they offer to each particular country. This includes the language options for your particular geolocation.

With some countries like China and India having several different languages, or variations of a language, they are not always all catered for and it tends to be the more widely used languages that are recognised. This is particularly true of Hindi and Bengali as we mentioned earlier and we are considering all of these things when recommending particular brokers.

We focus heavily on the main things when recommending brokers including:

  • Licensing and regulation within India
  • Reputation of the broker and how long they have been established
  • Ease of use of the platform and whether they offer mobile trading
  • What customer support they offer and is it any good
  • Payouts and trade types offered on the platform
  • Bonuses, incentives and whether the broker offers a demo account

Our team spend hours, weeks even months researching the various brokers to ensure that they only bring you the best that the market has to offer.

And we don't stop there. We are constantly updating our information to ensure that everything is up to date and relevant at any time. If you look at all the top brokers available and feel bamboozled then our reviews and recommendations will help you to at least build up a carefully considered choice.

Risk Warning / Ad Disclosure

Risk Warning: The trading products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never trade money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Frequently Asked Questions

India FAQ

Is binary trading in India legal and safe?

It is perfectly legal to trade in India. Although there are no licensed Indian brokers at present. Brokers from outside India can offer their services to people wishing to trade there.

Do I need to pay taxes on my trading profits?

Every country has tax laws, India is no exception. If you make money from trading this money is subject to the tax rules of the country. It is up to the you to declare your earnings.

Can I test brokers before trading with real money?

Many brokers offer a demo account to allow first time traders to practise with dummy funds before risking their own capital. Another opportunity to trade without risk is to take advantage of an welcome bonus.

Is it easy to make deposits and withdrawals?

Making deposits and withdrawals to an options trading account is straight forward. Most popular methods of payments are accepted by brokers. Withdrawals can take around 3-5 days from the moment requested.

Can I trade using my mobile or tablet device?

You will find that most brokers have an easy to use, intuitive mobile offering that is either a version of their website or an app that is available to download from either Play Store or App Store.

Meet The Author
Jacob Bailey
Jacob Bailey
Market Analyst

Jacob has been an author for Binary Options Expert since our launch in 2012. He has over 40 years’ experience in the financial sector and has held a variety of positions within financial services corporations and venture capitalist organisations. Learn more.

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