foreign exchange foreign exchange

1 year ago

Is binary option trading legal in India if funds are deposited with the overseas party and transactions done in USDT

Anik

Responded 1 year ago

View All Answers
A.Dear Client,

Binary trades are not permissible under the Foreign Exchange Management Act (FEMA). According to the Reserve Bank of India's Liberalized Remittance Scheme, a person cannot use the money transferred abroad for speculative purposes or to provide margin money for trading.
Helpful
Helpful
Share

Post Your Matter Post Your Matter

Talk to a Lawyer Talk to a Lawyer

Ask a question Ask a question

Vidhi Samaadhaan Vidhi Samaadhaan

Kishan Dutt Kalaskar

Responded 1 year ago

View All Answers
A.Dear Sir,

Unlike many other countries, binary trading is illegal in India. As per the guidelines provided by the Reserve Bank of India, binary trading or any form of online trading of foreign exchange is not legal in India.
Helpful
Helpful
Share

Post Your Matter Post Your Matter

Talk to a Lawyer Talk to a Lawyer

Ask a question Ask a question

Vidhi Samaadhaan Vidhi Samaadhaan

Read Related Answers

question iconNOC
Dear Client, In the given scenario, you can escalate your grievance before the Grievance Redressal Officer(GRO) of the Bank to resolve your grievance failing which you can make a complaint to the regu...
question iconForex Trading on Exness
Dear client, you cannot trade on a platform which is not regulated by RBI and SEBI. It is not safe to invest money on non-SEBI regulated brokers.
question iconFinancial loan spam
Dear Client, It appears that you become a victim of an online fraud scam. This kind of online loan app is being operated by Fraud companies/entities with fake identities to extort money from unemploye...
question iconCan i renew my Ews Certificate Before One Year or Before Expiry Date
Dear Client, The EWS certificate remains valid for one year. However, you will be required to renew and update the validity of the EWS certificate within the given period. The Certificate of Income an...
question iconForex trading scam
Dear Client, Forex trading can be a legitimate and profitable form of investment, but it is important to be aware of the potential for scams. By being vigilant and taking the necessary precautions, y...