Top Binary Trading Platforms For Traders in India
Best binary trading platform in India - Pocket Option
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Pocket Option - Best binary platform for beginners.
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QUOTEX - Best binary trading platform bonus.
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IQcent - Best binary mobile APP.
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Expert Option - Distinguishes itself with its extensive educational resources and user-friendly interface.
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5
Binary.com - One of the best platforms in terms of reliability.
Binary trading is getting popular with each passing day, and it is one of the best ways to make investments and earn money from the comfort of your home. It is rapidly increasing because it offers a wide range of opportunities to earn money on a large scale. However, if you get involved in the trading world, it is essential to know the leading platforms. India is keeping up with trading trends with the help of the traders, and here is all you need to know about it!
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Is binary trading legal in India?
While binary trading itself is not illegal in India, it is also not regulated by regulatory bodies like SEBI and RBI. Traders from India can participate through offshore brokers that accept Indian traders.
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How do I fund my binary trading account?
Brokers support a variety of payment options like debit/credit cards, e-wallets, payment apps etc. Deposits are usually processed instantly whereas withdrawals may take 1-5 business days depending on the method.
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How much capital do I need to start binary trading?
Brokers have different minimum deposit requirements ranging from $10 to $250 usually. Starting small with a demo account first is advisable to learn trading risk-free without any real money risks.
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How much can I earn through binary options daily?
There is no fixed amount as profits depend on several factors like deposit size, risk capital allocated per trade, strategy used, market conditions etc. As a general guideline, consistent daily returns of 0.5-1% of trading balance are considered good for binary options.
Best Binary Trading Platforms In India
Below you will find all the information.
Comparison of the Best Binary Options Brokers In India
Binary trading India platforms offer you an offer to generate money using different trading platforms. However, one needs a broker to succeed, offering essential trading features. There are numerous platforms available, and choosing the best one is difficult. We list the top platforms, which will help you choose the most suitable one.
| Broker | Accepting Clients From India | Minimum Investment | Assets | Open an Account |
|---|---|---|---|---|
Yes |
$50 |
Currency Pairs, Stocks, Crypto, Commodities |
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Yes |
$10 |
Currency Pairs, Stocks, Crypto, Commodities |
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Yes |
From $20 to $50 depending on region |
CFDs on currency pairs, Indices, commodities (gold, silver), Cryptocurrencies, Binary options |
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Yes |
$10 |
Digital-options |
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Yes |
$10 |
Currencies, Indexes, Stocks |
||
Yes |
$250 |
Stocks, Currency pairs, Commodities, Indices, Cryptocurrencies, and Options |
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Yes |
$10 |
Currency Pairs, Stocks, ETF, Commodities |
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Yes |
$5 |
Currencies, Cryptocurrencies, Indices, Commodities |
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Yes |
$250 |
Shares, Currencies, Indices, Metals, Commodities |
Top Binary Options Brokers in India
Pocket Option
The Pocket Option broker is part of Gembell Limited holding, which was founded by a group of professionals seasoned in trading and investment activities. The company is mass-market requirements-based, therefore, it provides quality services to binary options trading in the OTC market access. The broker strives to make the trading process as simple, clear, and convenient as possible. For this reason, Pocket Option has developed a unique trading platform to ensure stable trading for traders and investors.
Pocket Option trading conditions are classic for the binary options market. You can trade currency pairs, stocks, commodities, and cryptocurrencies using a web platform, designed with the inherent characteristics of working with options in mind. The minimum initial deposit for all accounts is $50, but hereinafter the balance should be from $100 to $50,000 (depending on the profile). The minimum bit is $1. Read more in Pocket Option reviews from clients in India.
QUOTEX
QUOTEX is a broker specializing in binary options trading. The company was established in 2019. Its clients can trade currencies, metals, oil, cryptocurrencies, stock indices and earn a profit of up to 90% of the value of the option. QUOTEX has developed a proprietary trading platform which is easily customized, supports 29 technical indicators and allows investments from USD 10. The broker’s team provides support 24/7. Personal and payment information of the clients are protected with two-factor authentication.
👍 Pros
•Affordable minimum investment amount – USD 10;
•No trading fees and no deposit, withdrawal and account fees;
•Simple and user-friendly trading platform designed for binary option trading.
👎 Cons
•Leveraged trading is not available;
•There is no quality education and instruments for analysis on the website;
IQcent
IQcent is the premier online trading platform for retail clients looking to make a mark in the investing world. IQcent offers binary options and Contract for Difference (CFD) trading opportunities across several asset classes, such as forex, stocks, commodities, and cryptocurrencies. The minimum trade size is just 0.01 USD/EUR, and traders can leverage up to 1:500 with CFDs.
In addition to various financial instruments, IQcent also provides an extensive suite of payment methods with more than 10 supported options. The minimum deposit amount may vary depending on the type of account but goes from as low as $10 to $250 and $1,000. However, traders can't deposit lower than (USD/EUR) 5,000 for direct bank transfers.
IQcent offers an intuitive and useful proprietary web-based trading platform with several in-built indicators essential for making informed trading decisions, including momentum, relative strength, and average range. Depending on your needs and preferences, IQcent offers three types of binary options: turbo options, intraday options, and long-term options.
👍 Pros
•Low minimum deposit requirement of $10
•Commission-free trading
•Wide range of assets, including forex, cryptocurrencies, stocks, and commodities
•Multiple account types to choose from
•User-friendly trading platform with advanced charting tools and technical indicators
•24/7 customer support
👎 Cons
•Limited regulation and oversight compared to more established brokers
•No demo account available for practice trading
•Limited educational resources for beginner traders
•Inactivity fees for accounts that are dormant for more than 90 days
•Withdrawal fees for some payment methods, such as bank transfers
•No mobile app
Expert Options
Expert Option is one of the leading leaders in the online binary trading industry, with more than 70,000,000 clients. The brokers offer several assets to their users, such as crypto trading, binary trading, and more. You can sign up for this platform using your mobile or any other platform, which will take hardly minutes.
Binary.com
Binary.com is another reputed platform, which has an impressive history when it comes to trading. It was first operated in 1999, and since then, it has been only growing. As per the current reports, the company did a transaction of over $275M in 2019 and has a vision of achieving $377M in 2023. It is a highly user-friendly website with educative materials, which will help beginners get a better hold of things. The minimum deposit is $5, and trade starts from $1.
RaceOption
RaceOption is an offshore CFD and binary options broker dedicated to providing traders with access to the financial markets. Through this platform, users can invest in more than 100 instruments, which include markets such as forex, indices, commodities, and stocks. When trading unleveraged crypto CFD assets on RaceOption, a fee between 1-2.5% based on the transaction value is applied. Leveraged crypto CFD positions are charged a 5% commission.
Clients should know that if they fail to execute at least one trade per calendar month, a $10 account service fee will apply afterward. Moreover, margin trading on this platform has different leverage levels depending on the asset type; cryptocurrency positions have a maximum of 1:30, while other instruments offer up to 1:100 in terms of leverage ratios.
With a $250 minimum deposit requirement, you can open a Bronze account and get started immediately. This platform helps simplify the trading process by offering a demo account and an easy-to-use mobile app, and you can opt for Turbo, Intraday, and Long Term Options.
👍 Pros
•Wide range of assets, including Forex, cryptocurrencies, stocks, and commodities
•Multiple account types to choose from, including a demo account for practice trading
•User-friendly trading platform and mobile app
•24/7 live video chat support
•Offers social trading features
👎 Cons
•Minimum deposit requirement of $250
•Limited regulation and oversight compared to more established brokers
•Limited educational resources for beginner traders
•Inactivity fees
IQ Option
IQ Option is one of the best binary options in India, with over 48M registered users on this platform. With the maximum active users, no wonder why it is ranked one of the bests in India. It was formed in 2013, and since then, it has worked to greater lengths to make the website user-friendly. Overall the platform has a good reputation among the traders, and it is one of the preeminent reasons why maximum users are attracted to this platform. IQ Option has a high trading volume of $380M monthly, and the payouts are done in a month also range above $20M. However, if you plan to invest in trading, learn through the demo account first to get a hold of it. The minimum account you can trade is $10, which means starting small.
Binarium - Best Mobile Trading Platform
Established in 2012, Binarium is a mobile trading platform that offers binary trading options to its customers. The platform was built by traders for traders and is most suitable for novice clients at the start of their professional careers in binary trading.
Known for its simplicity in opening the account, depositing and withdrawing, Binarium also offers many trading accounts options including the Basic, Premium, Business and VIP accounts. One other defining characteristic of the platform is that the funds are held in segregated European bank accounts rather than in the brokers’ accounts.
👍 Pros
Here are the pros of a Binarium account:
• Low deposit to start trading
• 24/7 customer support
• Intuitive and easy to understand platform
• No hidden fees
👎 Cons
Although Binarium is great for mobile trading, it has a few disadvantages:
• No official regulations
• Minimal selection of trading instruments and indicators
• Small withdrawal limit and rewards
• Inaccurate quotes
VideForex
VideForex was established in 2016 as a leading binary options and CFDs broker. It offers a reliable and secure trading platform suitable for both professional traders and beginners. With VideForex, you can trade different Forex currency pairs – Major, Minor, or Exotic -plus a dozen cryptocurrencies like Bitcoin, commodities like gold, and major indices like the Dow Jones 30 and S&P 500 through CFDs contracts. The maximum leverage allowed is 1:500, so you can take larger positions to increase your profits. With VideForex you have the advantage that your customer's loss is limited to their original investment amount multiplied by the leverage used. The remaining amount of equity will be protected from further risks - making it a very safe and trustable broker.
VideForex offers three types of trading accounts, each with unique benefits. The minimum deposit sits at $250 for the Bronze account. The platform provides a web platform and a convenient mobile app for users on the go.
👍 Pros
•Wide range of assets, including forex, cryptocurrencies, stocks, and commodities
•Small minimum trade size starting at $1
•Copy trading
•Cryptocurrency funding method
•User-friendly trading platform with advanced charting tools and technical indicators
•Commission-free trading
•Multiple account types to choose from, including a demo account for practice trading
•24/7 customer support
•Offers social trading features
👎 Cons
•High minimum deposit requirement of $250
•Limited regulation and oversight compared to more established brokers
•Limited educational resources for beginner traders
•$10 Inactivity fee
How Do Best Indian Binary Brokers Compare?
There are numerous elements of binary trading India that can be used to compare the best Indian brokers. Here are some of the aspects that you can consider:
Licensing & Authorization
The best and recognized platforms have an authentic license in practice, which is regulated by the financial boards in India. These elements make them a reliable platform as they offer entirely transparent and beneficial services for their users. When you look out for binary options in India, it can be one of the areas where you need to put the highest focus. The ones controlled by the financial bodies must follow the strict terms and conditions without harming the users’ privacy.
Minimal Amount Deposit
The minimal amount you can deposit to the binary options is also one of the comparable aspects. The top platforms such as Binary.com and Olymp offer the minimum account of $5-10. In simple words, being a beginner, you can start up with something small to learn before you sum up the money. Besides, you also upgrade your account on the binary platform when you understand its terms and how it works.
Reputation & Authentication
It is one of the best ways to compare binary options brokers in India. The top platforms have millions and thousands of active users who are registered members. It simply means that many people trust, time, and money. So, it is one of the best ways to compare its authenticity.
What Is The Best Binary Options Trading App In India?
There are numerous binary trading platforms in India, each succeeding because of its unique features. Binamo, Binary.com, and IQ Option are some of the best platforms for binary trading. All these platforms support Indian traders, regardless of their location. All one needs to do is verify the identity through a documentation process. All these companies have a customer care support system that assists the traders in clearing their doubts and queries. The trading timings can differ in India, but one can still trade potentially for 24 hours.
Binary Options In India - How Does It Work?
If you are getting involved in binary trading options in India, you have to specify the reasons for remitting money outside the country.
There are only two simple ways that allow the traders to trade in binary options, which are as follow:
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The first one is, if you want binary trading India legally, you will have to create a demo account. It permits the users to use legal money in India and eradicate the fear of losing money. You can have your first-time experience and witness growth by having a demo account.
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The second option is to trade binary options in India by contacting the brokers who accept India’s traders in different countries, such as the Canadian binary. The binary trading options like ExpertOptions and IQ Option work as a middleman and allow traders to make accounts and trade their binaries using them. Being foreign establishments, they do not need authorization from RBI or SEBI to conduct the businesses.
Is Binary Trading Legal In India?
Many people consider this binary word as a bet, where a trader puts his bets on the prices of a certain asset. In simple words, there are only two outcomes of the trading: gain or loss. Nonetheless, many people are not aware of if binary trading India is legal. Just like many other countries, binary trading is not well regulated in India. However, the guidelines coming from the Reserve Bank of India say that exchanging or any form of online trading is not legal in India. The financial sector in India is significantly controlled by the Securities and Exchange Board of India (SEBI) and RBI. However, the Indian traders who want to trade in binary options can do it with the help of an offshore broker platform. Please note that we do not recommend that you break the laws of your country. This article has been prepared for informational purposes only. If you want to operate completely legally, choose one of the regulated forex brokers.
How To Choose A Binary Broker In India?
There has been an enormous growth in online trading, not just in India but globally. Since its introduction in the market, it has gained popularity among investors and business people. Choosing the authentic binary options in India is one of the essential things to do to prevent. You have to consider its features and how it diversify your investment. Here are some of the best ways to choose the ideal binary broker in India.
Know Its Customer Services
Once you get started with binary trading, you might be drawn to it for various reasons. It can be because of your friends, colleagues, family, etc. However, whenever you start it, just start with their customer services, make queries, participate in live chat sessions, and see how quickly they respond. Also, when the binary platforms reply to your queries, ensure that it is understandable for you. A reliable platform will take time to help you understand everything about their services before continuing with them.
Understand Their Terms And Conditions
You must never skip the terms and conditions part of binary options trading in India. Look after the ethical practices, and go through their terms and conditions. It is imperative because you might find yourself in a situation where you will face some limits on the platform. The best binary options go through ethical practices and have clear terms and conditions to offer their investors.
Type Of Information
The best binary platforms are those concerned about their users, especially for the people who are concerned. The information material, which is available on the website, helps the visitors. Be it FAQS, blogs, video tutorials, directories, and more. You will be confident enough to start with the proper training and guidance.
Binary Options Rules and Regulations in India
The question most people ask is, is binary trading legal in India? The simple answer to this is no. Although binary trading is becoming increasingly popular globally, it’s not yet legal in India. Meaning that the regulatory bodies in charge of the financial sector in India, that is the Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI) have not imposed any legal restrictions or endorsement to this kind of investment.
To understand further, let us look at the SEBI regulation, RBI and FEMA Regulations and the Legal actions of Binary options in India.
SEBI Regulation
Formed in 1988, SEBI plays three roles as a regulating body in the Indian financial securities markets. These roles include being a quasi-legislative where the body states the requirements for regulations; quasi-executive in which it enforces the rules and regulations to be followed; and quasi-judicial in which it makes judgements and recommends legal actions to be taken on unlawful citizens.
RBI and FEMA Regulations
Apart from being the official monetary policy for India, the Reserve Bank of India (RBI) also regulates and supervises India's financial industry. In this case, where forex trading is highly restricted in the country, RBI is majorly responsible for the decision due to the fact that it’s trying to reduce the country’s account deficit by limiting the outflow of INR.
According to the RBI, online forex trading might cause Indian traders to violate the Foreign Exchange Management Act (FEMA) that was put in place in 1999 by the Parliament of India. The purpose of FEMA is to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments in India.
Legal Actions
Although binary trading is not technically legal in India, it’s also not technically illegal since the regulations that affect forex trading deal with currencies, which is not the case for binary options that deal with derivatives. As such, traders can still engage in binary options provided they use offshore brokerage firms.
Deposits and Withdrawals for Indian traders
Once you sign up with an offshore brokerage firm, it is easy to make deposits and withdrawals in a binary trading account while in India. Some of the companies that can allow you to send money include PayPal, Credit Cards, Cryptocurrencies, Electronic Wallets, Bank-transfers.
Withdrawals mostly depend on the method you used to deposit the money. If you used an e-wallet for example, you can only use the same e-wallet account to withdraw your funds. The same applies for a bank account or a PayPal.
What are the popular binary option trading strategies in India?
Here are some of the most popular binary option trading strategies in India:
Bollinger Bands Strategy
The Bollinger Bands strategy analyzes the price movements relative to the upper and lower bands. Trades are made if the price hits the upper or lower bands, anticipating a movement back within the normal trading range.
Candlestick Pattern Strategy
This strategy identifies reversal and continuation candlestick patterns in the price charts that can predict a change in trend. Popular patterns include doji, hammer, hanging man etc. Positions are taken based on confirmation of pattern formations.
Fibonacci Retracement Strategy
By drawing Fibonacci retracement levels on the past extremes in the price chart, traders anticipate the asset price will bounce off these support and resistance zones. Trades are placed near the 38.2%, 50%, or 61.8% retracement levels.
RSI Divergence Strategy
This strategy uses divergences between the Relative Strength Index (RSI) and the price to predict reversals. Trades are initiated if the RSI forms either bullish or bearish divergences with the price action.
Expert Opinion
In a less regulated environment, choosing a broker can be one of the key decisions impacting your trading results. The optimal strategy would be to open several small demo accounts with brokers that have a long history in the market, a large number of clients, and positive reviews. Through testing trades on real accounts with small sums, you can identify the pros and cons of a specific broker based on your personal needs. This will allow you to approach more confidently the full replenishment of the account to form working capital.
Methodology for compiling our ratings of binary options brokers
Traders Union applies a rigorous methodology to evaluate brokers using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.
Key aspects of the assessment include:
Regulation and safety. Brokers are evaluated based on the level/reputation of licenses and regulations they operate under.
User reviews. Client reviews and feedback are analyzed to determine customer satisfaction levels. Reviews are fact-checked and verified.
Trading instruments. Brokers are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
Fees and commissions. All trading fees and commissions are analyzed comprehensively to determine overall costs for clients.
Trading platforms. Brokers are assessed based on the variety, quality, and features of platforms offered to clients.
Other factors like brand popularity, client support, and educational resources are also evaluated.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.