IQ OPTION IN INDIA - OUR TRADING ADVICES
IQ Option is a multi-asset trading platform where traders can trade forex, binary options, cryptocurrencies, stocks, ETFs, commodities, ETFs and more. The journey started with binary options in 2008 and over the years, IQ Option grew rapidly.
Today, this well-established broker processes more than two million trades per day. You can start trading on IQ Option with a free demo account. To trade, you only need to deposit $10 and the minimum investment required is $1 only. Like many countries in the world, IQ Option now plays an important role in options trading in India as well.
- Multi-asset trading platform
- Trade forex, binary options, stocks, crypto, ETFs, etc.
- Minimum investment of only $1
- Free Demo account
- Deposit as little as $10
Trading in India
Trading binary options in India is not new. In fact, the popularity in binary trading has grown massively over the past decade. It is considered an easier way of income since the financial crisis of 2008 because of its straightforward and interesting way to trade. However, binary trading is not yet regulated in many countries, which often confuses traders and they wonder if such trading is legal in India.
Unlike several countries, Binary Trading is illegal in India. According to Reserve Bank of India, binary trading or any other form of online trading is illegal in India. So, if you want to get into binary options trading, then you should take your time, and investigate the rules and regulations before you get started. Keep in mind that you need a safe place to invest your money. Thus, research well so you can choose a broker that can provide you with the best of the trading services.
Traders in India
India is a growing economy where manufacturing and service industries are witnessing an unprecedented growth in the country. Online trading is now a preferred option for many people who consider it a viable way to make a profit.
Binary options trading is more accessible now due to wide availability of Indian assets on broker platforms and the increased use of iOS and Android devices. Unfortunately, binary options trading lacks recognition and regulation by the government which makes it difficult to enter the market place for Indian companies. So, traders go for European based top brokers like IQ Option.
Here are some points worth considering when you are selecting a broker:
- Regulation and license: When you are selecting an offshore broker, you must make sure that it is regulated and licensed. If it is a European broker, you have to keep your eyes open for CySEC, MiFID or FCA licensing and regulation.
- Wide range of assets: Some brokers offer assets only with a premium account, while others offer them without it. If you have any particular currency pair or asset to trade in, then you will have to choose a broker that offers the assets you want.
- The best payouts: As a trader, you should neither settle for too low payouts nor be tempted by too high ones. Keep in mind that brokers that offer high payouts too good to be true can be dangerous. So, go for reasonable offers instead. An average payout from 70% to 80% would be the ideal choice for you.
- Customer support: If anything goes wrong while using an offshore broker, then you need someone that can help you with a question or an issue. So, before choosing a broker, go through the customer support options offered by them. A reliable broker will offer customer support without any hindrances via email, telephone and even live chat.
Broker Fees and Tax
A government crackdown on black money was introduced by India in 2015, and the targets of this action were the offshore bank accounts. There is a ninety-day compliance withdrawal, so people can declare their earnings and pay the relevant tax that was due. Like other income, you need to pay tax for binary options trading. Keep in mind that it is not the duty of brokers, so, you have to declare your earnings and report it, to ensure legal compliance. Apart from paying tax on profits, you need to consider the fees for making deposits and withdrawals. The usual currency conversion fees apply when you deposit and withdraw foreign currencies.
There will also be fees per transaction when you use a web wallet or a credit card. As a trader, you have to consider if fewer transactions of higher amounts are cheaper or making a lot of small actions is better. If a fixed amount is charged par transactions, then it is better to make fewer deposits and withdrawals.
If the question arises about the legality of binary options in India, then it is not easy to answer. Discrepancies and confusion are caused since it is not regulated. There are no SEBI licensed Indian brokers, which makes traders follow the trend to obtain European licensing. A lot of binary options brokers prefer to obtain CySEC licenses. CySEC stands for Cyprus Securities and Exchange Commission. It is the globally recognised best license.
Most top brokers in Europe are registered and licensed via CySEC. IQ Option, which has become the best trading platform in India, has this investment license. Be careful and do not be lured by brokers who claim to be legitimate Indian brokers. The offer may be appealing, but the experience can be very different from what you would have expected.
IQ Option in India
If you are a trader in India and want to use IQ Option for trading, then these points are quite significant for you:
Legality: Many traders in India are interested in trading on IQ Option, but most of them do not know if it is possible. If you contact the support of the broker, then they claim that it is legal in India. You need to take a cautious decision.
Currencies available: Currencies available for Indian traders include USD, GBP, EUR and RUB.
Complaints, if any: There are no complaints about IQ Option from the traders in India because this trading platform works perfectly. It is a fully functional broker with graph movements, deposits, withdrawals and more. Without worrying, you can trade simply to earn profits.
Internet connection: Using IQ Option requires a stable internet connection or you may experience a long delay between trade appearance and click on higher or lower buttons. So, consider a WIFI connection. If there is no WIFI and you have to use a mobile network, then at least go for 4G or 3G connection. A great way of improving the browser experience is clearing the cookies or temporary files from the browser.
IQ Option App: Mobile application for India: IQ Option has mobile applications for both iOS and Android.
To install the app on your iPhone, follow these steps:
- Visit the app store.
- Type ‘IQ Option – FX Broker’ in the search box.
- Press the ‘Get’ button to download and install the app.
Similarly, to install the app on your Android device, complete the following steps:
- Visit the Google Play store.
- Search for ‘IQ Option – Forex & Stocks Trading App’.
- Press the ‘Install’ button.
Make sure to install the official application.
IQ Option Deposit from India: The deposit process with IQ Option is not at all problematic for Indian traders. You can use several payment methods such as Mastercard, VISA, Bitcoin, WebMoney WME, WebMoney WMZ, AdvCash, Qisi, Skrill, AstroPay Card or Neteller. After choosing the payment method, select the currency and deposit money and press the ‘Proceed to Payment’ button.
Withdrawal from India: After making the deposit, traders can request a withdrawal and the withdrawal process from India has no issue either, on IQ Option. You can choose any of the several withdrawal methods including Perfect Money, AdvCash USD, MasterCard, VISA, WebMoney WME, WebMoney WMZ, Qiwi, Neteller and Skrill.
Binary Options Trading in India
Binary Options trading is a form of all or nothing option. It is a kind of yes or no probability, so, it is termed as binary. You will not have the choice of buying or selling an asset in binary trading as it will be done automatically. Every binary option holder must know the risks associated with each trade and the trading software for binary options must have high-risk management.
As mentioned earlier, binary options trading lacks regulation in India, and thus, it is illegal. According to the guidelines of the Reserve Bank of India, any form of online trading or foreign exchange including binary trading is not legal in India. Apart from the RBI, the financial sector of India is also regulated by SEBI (Securities and Exchange Board of India). SEBI does not favour investing in binary options in India either. Moreover, the FEMA (Foreign Exchange and Management Act) also prohibits binary trading and forex trading through online trading portals. If an investor wants to get into binary trading in India, he has to do so at his own risk, as there is no law in India, to regulate such kind of dealings. However, taking the risk can be worth the profit you make.
How to Trade Binary Options In India?
Indian traders who are interested in investing in binary options trading can sign up with an offshore binary options broker because aren’t any binary trading firms based in India. Moreover, binary options are not listed on the stock exchanges of India. You can trade binary options by following these steps:
- Choose an offshore binary options broker and open a trading account with it.
- Select the asset you are interested in trading.
- Make predictions on the outcome of the trade.
- Choose an amount to invest in the binary options trading.
- Trade the options.
- The outcome will either be no investment at all or it will be a direct return on investment.
People use IQ Option for binary options trading in India and there are three types of IQ Option accounts used by them, such as:
- IQ Option Demo account: It is a free account. With this account, the investor does not need to use real money to practise binary trading.
- Standard account: It is an entry-level account with the lowest minimum deposit.
- IQ Option VIP account: With this account, the investor is provided with a personal manager to help him with trading.
Forex Trading in India
Forex stands for foreign exchange or currency trading. It is a decentralised global market where people can buy and sell all the currencies of different economies. Now, the question is, is forex trading legal in India? As per the regulations of RBI and SEBI, no Indian citizen can undertake forex trading in the country. However, it is legal when you trade through specified foreign exchange trading platforms.
Forex trading strategies in India
The following strategies are usually employed by traders for forex trading in India:
- Price action strategy
- Position trading
- Trend trading
- Counter trend trading
- Breakout trading
- Carry trade
- Range trading
Details about IQ Option in India
On IQ Option, you can do the following trading in India:
- Digital Options trading
- Binary Options trading
- Stock CFD trading
- Forex trading
- Cryptocurrency trading
- Commodity trading
- ETF trading
IQ Option Features
Traders on IQ Option can access the powerful trading platform in many ways through the web, desktop and mobile versions. The features include:
- Trading tools and charts: The trading platform is equipped with many technical indicators and widgets such as ‘Traders’ mood’, ‘Other traders’ deals’, ‘News’, ‘High and low values’, and ‘Volume’. Traders can trade directly from their charts with IQ Option. Switching between different instruments and charts is also easy. The platform allows choosing from different chart types and time frames. Traders that use trend lines and Fibonacci levels cal also avail graphical tools.
- News and calendars: The financial market is often impacted by economic news, politics and more. So, IQ Option provides a convenient News Feed in the trading platform so the traders can be updated with the ongoing events in the world. You can also use the crypto calendar, forex calendar and earning calendar next to the news feed.
- Mobile applications: You can use IQ Option on your iOS and Android as well, thanks to the mobile apps with drawing tools, technical indicators and widgets. You can trade directly off the charts on the apps as the order entry box remains at the right side of the screen. Keep in mind that binary trading is not possible for iOS or Android app which is available in the App Store and Google Play Store. For that, you will need to install the IQ Option PWA (Progressive Web App) or the IQ Option APK App.
Are you interested in binary trading? Are you wondering how to go about it or how to get started?
If you cannot see many options in India, do not worry. Go for IQ Option, install the application on Windows, Mac, iOS or Android and start trading today. It is not a scam, but a reliable broker that has earned a good reputation for its excellent trading conditions.