Is IQ Option legal in India?
The Binary option is getting popular in every part of the world. People are rapidly joining the field, whether they have complete knowledge or not. The reason behind this is the chance to earn more in short times. This flair has involved India as well. Many Indian people love to invest in binary options and other online trading firms and platforms. This mania has raised the question of these forums’ legal status in India so that people can participate with confidence.
Legal Status of IQ Option
IQ Option collectively offers 300+ trading options, including binary options, stocks, Forex, cryptocurrency, CFDs, and many others. IQ option is not restricted in India, and Indian citizens can enjoy trading options at the IQ Option. It is not illegal or not legal to trade with IQ Options in India. People are free to choose any trading option available here. Many forums, including iqoptionmag.com, have published data about the legal aspect of IQ Options in different parts of the world.
Why is IQ Options considered illegal in India?
The rumors of being illegal are due to some points which are not clear to ordinary people. According to present Indian laws, a few types of trades are declared unlawful and are punishable. These include CFD and Forex trading. The IQ Option offers these trades, so people confuse it with the entire forum, which provides more than 300 trading services.
So, it is evident that IQ Option itself is not illegal in India; however, a few trading types are forbidden and against India’s law. So, avoid restricted trades and use the IQ Option with full confidence.
One fact about digital trading platforms
IQ Options is openly performing in India, and lots of people are enjoying the trading facilities to make their living better. However, there is no such regulatory authority in India that can handle issues regarding these online digital trading platforms. So, all the people using these trading platforms at their own risk. It is recommended to know all necessary information about the firm or broker to decide to join for trading.
Another essential factor about the laws and regularity authorities is that these are always subject to change. Circumstances and the changing environment of the world can affect the laws of any country. So, the same situation is for Indian laws. Whenever you want to join any online platform, make sure that you have got complete legal information according to the present regulations.
How to trade in IQ Option in India?
The binary option is quickly flourishing in India, and the popularity of IQ Option is also a great contributor to the boost of binary trade in India. To start a binary business or any other trading option at IQ Option, the user must sign up at their website. IQ Option is an offshore broker for Indians as it is not an Indian based firm. Signing up at the website will create a user account for you where all the necessary tools and techniques are available.
Users can start with a demo account to understand the procedure of trading at the IQ Option. Follow the following sequence for trading in IQ Option in India.
- Sign in to your account with IQ Option
- Choose the asset type for your trade
- Set the predictions regarding trade
- Select the amount of money for investment
- Start trade
- You’ll get a direct ROI or lose all your investment in the outcome of the trade
Through all this discussion, one point is evident that India does not restrict the working of IQ Option. Still, a few trades such as binary options and forex trading are illegal in India, whatever the platform.