Is IQ Option in India legal or not?

IQ Option is a standard binary option brokerage firm. Trading binary options represents one of the most profitable and thus popular ways to make money on the internet.  We can see binary options as a form of derivative which allows you to trade on the potential movements of the prices of financial assets.

Binary option allows you to “bet” or “stake” on the direction or movement of assets such as stocks, cryptocurrencies, commodities and of course, forex. In this case, you are not really interested in owning the underlying assets, but in the directions their prices will most likely move after a particular time. If price will go in the upward direction, you go for a “Buy” trade, and if you believe price will go downwards, then you enter a “Sell” trade. All of these will be done over the internet.

But to be able to trade binary options, you need to get registered with a binary options broker. This broker has developed a platform which it then gives you access to trade. All you need to do is deposit some funds with the broker and you can start trading and making profits. Note, however, that there are a whole lot of brokers out there. Sadly, amongst them, we have scams and phonies as well.

Hence the need for you to go for credible and reliable brokers who display certain features. For one, your broker of choice must have some level of recognition in the industry. Furthermore, they must have some commendable track-records and good reputations. It is also important that they be registered with appropriate authorities. One of such brokers is IQ Option.

What is IQ Option?

 

IQ Option is an international binary options broker that boasts tens of thousands of daily active traders on its platform. These traders are spread across Asia, Africa, Europe and Latin America. Headquartered in Cyprus, it is registered with and regulated by the Cyprus Securities and Exchange Commission (CySEC), amongst other reputable regulatory bodies. IQ Option is an award-winning broker, having won the “Best Binary Options Broker” in Europe by the Global Banking and Finance Review.

IQ Option in India

IQ Option’s services are available all over the world, except in certain countries such as the USA, Japan, Israel, Canada, Russia, and a few others. The reason why it is not available in some of these countries is that binary options as financial instruments are completely banned. Since the Indian government has not banned on binary options, then IQ Options is much available in India. In fact, the broker has a dedicated website for Indian traders.

IQ Option India Regulation

IQ Option, globally, is well regulated. As mentioned earlier, it is registered under CySEC, a well-respected regulator of derivatives brokers. However, IQ Option is not registered with or regulated by any Indian government financial regulatory agency such as the Securities and Exchange Board of India (SEBI). This is really no cause for any alarm as IQ Option has been certified to be a very credible broker.

What markets can you trade on IQ Option India

IQ Option India allows you to speculate on the direction of prices of assets listed on major financial markets in the world, using binary options. On IQ Option, you can trade:

  • Currencies/forex
  • Commodities – such as Gold, Crude oil (WTI and Brent)
  • Indices – such as the S&P 500, US 30 and others.
  • ETFs
  • Cryptocurrencies – such as Bitcoin, Ripple, Ethereum and Litecoin.

One quite unique thing about IQ Option is that it provides stocks as investment instruments. In fact, you have access to stocks from more countries than the US alone. This is something you do not find with many binary options and other derivatives brokers.

Account types on IQ Option India

There are different types of accounts that are available for trading with IQ Option India. They are summarised below:

The Demo Account

The demo account is one of the most important tools for any trader; that is, no matter their level of expertise at trading. In fact, one of the attributes of a good broker is providing its traders with a demo account. IQ Option does just that. The demo account is a practice account provided to you by the broker. The account contains virtual money that cannot be converted into cash. As said earlier, it is a ‘practice’ account that you can utilise to practise your trading skills.

The Live Account

On the other hand, we have the Live Account. In this case, you are the one depositing your real cash into your trading account. You are putting real money on the line.

IQ Option, however, has various options for this. There is the basic, real account that requires a minimum deposit of $10 for you to trade with. With this account, you can access all the services provided by IQ Option.

Then, there is the VIP account. With this, you get access to all the perks that come with the basic live account and more.

Some of these perks include the following:

  • Personal managers are assigned to the holders of this account type.
  • Faster payouts – within 24 hours.
  • Expert training materials: These have been provided by top binary options brokers.

All of these are geared towards giving you maximum profitability. However, not all traders can have access to the VIP account. For one to gain access, the trader must make deposits into his/her trading account, totaling $1900 over a given period.

IQ Option India Services

IQ Option India gives you access to an area of excellent services. Apart from a quality trading platform, you also get access to 24/7 customer care. IQ Option also looks out for your growth and development as a trader and so provides you with educational services and materials.

However, one very notable benefit that IQ Option India provides its traders and which is quite scarce in other places is trading bonus. A trading bonus is a sum that your broker gives you to trade. Simply, the broker gives you extra funds to trade, usually as a percentage of whatever funds you have in the account.

IQ Option India usually provides traders with a welcome bonus. Just for signing and depositing into their trading account, IQ Option gives traders a welcome bonus of 50% of whatever amount they deposit into the account. There are also some promotional offers from time to time. It should be noted that bonuses cannot be withdrawn or converted into cash. You use them to boost your trading capital so that you can take on more trades.

 

Deposit & Withdrawal

The minimum amount that you are allowed to deposit into your IQ Option India account is $10. If we look at it, this is one of the lowest minimum deposit requirements you find with binary options brokers.

To make deposits into your IQ Option India account, you have many options. These include:

  • Bank cards – either debit or credit.
  • Local bank transfers
  • Electronic wallets – such as Skrill, WebMoney, FasaPay, GlobePay, and others.
  • Cryptocurrencies – especially Bitcoin.

The above channels are also the ones you use when you want to withdraw your funds. You should note that whatever channel you choose to deposit with will be the one through which you will withdraw your funds as well. IQ Option and other brokers put this in place to prevent fraudulent activity. There are no limits or minimum requirements for withdrawals.

Conclusion on IQ Option in India

For a seamless and successful binary options trading business, you need a stress-free, organized, and tested broker. IQ Option India is one of such trusted brokers in the binary options space.