Long gone are the days when Binary Options were unheard of in India. In fact, in the last five years, this trading and investment option has grown more popular in the country and there is no sign of it slowing down. What is its main appeal? It is simple to get into and needs less capital and/or qualifications compared to other Forex trading options in India. With the right tactics, it is quite easy to make your way from a beginner to an expert.
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What Is Binary Options Trading?
Binary Options trading is the simplest form of online investment. It involves betting on the outcome of an asset or an event. When trading, you stake an investment on your prediction on whether the pricing of an asset will go up or down in a specific time period.
Binary Options trading lives up to the fact that it is easy to learn and hard to master. Therefore, learning from the best brokers for binary trading in India is the smartest way to go. These experts will teach you the best ways to stake investment in your prediction as well as how to have a good eye on the fluctuation of prices.
Traders in India
Online trading has become a welcome choice for many who are looking to make ends meet in India. The increased use of smartphones and the internet at large has made binary trading more accessible than ever.
Unfortunately, with the increased use of this trading platform comes losses and lessons learned the hard way- especially by those who do not know the ins and outs of Binary Options trading.
To ensure that you do not encounter losses or even make mistakes during your trading endeavors, it is best to understand this online trading and everything that it entails.
Ready to get started? Here are 5 things you should know about Binary Options trading in India:
1. Binary trading in India is safe and legal
Binary Options trading in India is perfectly legal. Despite the fact that there is not a multitude of licensed Indian brokers, professional brokers outside India can still offer their services and expertise. Trading is conducted in Indian currency and despite the fact that you are online, you are not allowed to trade using other currencies.
2. There are licensed and unlicensed brokers
In efforts to choose the best brokers for binary trading in India, it is important to know what you’re getting into. This is because unlicensed brokers may be cunning and misleading in their financial advice. Once you encounter major losses, these brokers are known to disappear into thin air, sometimes, with your money. There are also unlicensed brokers who have abandoned their regulators or have been deprived of their licenses because of wrongdoing.
On the flip side, licensed brokers are legit in their dealings. With them, you will be able to make complaints on any issues such as delayed payments and blocked counts. As they care about their reputation, licensed brokers offer the best customer service. They negotiate effectively and are honest with their advice.
3. There are two common delusions associated with Binary Options trading in India
A majority of traders in India believe in the following:
- High profits
Many traders are focused on the high profits that come with binary trading but lose sight of the high risks that are associated with it.
- Instant success
Success does not come overnight in binary trading. It is important to master the right trading tricks so as to ensure that you will garner high profits. While you can be lucky and earn quick money during your first try, this never lasts as you will most likely experience losses soon. Take time to learn the system and you will make solid profits in no time.
4. Brokers can be tested before real money trades
Just like in any other business avenue, binary trading in India also allows the testing of brokers. This is the best way to ensure that you will end up with a broker who will meet you to your point of financial needs. Do not be too quick to give away your money.
Instead, focus on the best brokers for binary trading in India who allow beginners to practice with dummy accounts before risking their hard-earned money. The welcome bonus also goes a long way in acclimatizing with the trading system.
5. Your earnings are subject to tax
Remember, income from trading is referred to as non-speculative business income in India. This means that your Binary Options profits will be taxed. Thus, you will need to make a declaration of your profits to avoid any issues that can hinder your progress. You will pay your tax depending on your tax bracket.
Bottom Line
Binary Options trading comes with its upsides and downsides. While the idea of tripling your investment off of the right prediction is mind-blowing, there is always the chance of incurring losses if you do not trade in the right way. Although the upsides of trading in this manner outweigh the downsides to some extent, it is important to be realistic in your trades. If you find the right broker, learn every facet of the trade and keep emotions at bay, then you will be a happy camper.
Good luck!
About Carson Derrow
