Speaking of online binary trading in India, there are a couple of things you need to know.
Probably we should start with the most important thing – the whole trading operations are not allowed. This means hat in case the Reverse Bank of India, which goes under the abbreviation of RBI catches a person who is even remotely involved in online trading, then this will be considered as violation of the law.
This is why we would like to give you a warning in case you want to deal with such online trading options.
By the way, this started to be considered as crime back in 2011.
The reason was the confirmation of 5 private sectors plus the public sector of the bank. However, there is a way thanks to which you will be able to trade with online binary options and at the same time you will not get caught by the law. The only possible and legal way to perform such operations is to be a part of a corporation – in such case you will have the chance to trade and this will not be considered as crime.
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Every other action that you might take in future, such as actually trying to trade on your own as a private individual, might lead to crucial consequences such as going to jail!
The binary trading might be conducted with RS which is the official Indian currency and you will not be allowed to make exchange – RS to $. Traders should also be aware of the fact that the leverage should be less than 10 times – those are the regulations you need to know in case you want to start trading with online binary options.
So once again – aside corporations no individuals will be allowed to trade with dollars or any other currency – such activity is considered to be illegal.
Every trader is going to be warned by RBI and in case he or she doesn’t stop trading immediately the needed measures will be taken. Lots of people in India are tempted to try trading online, but they should be aware of all those regulations because it might be crucial for them.