Binary Options Trading Legal or illegal ? RBI BAN II Deposit & withdrawl II Payout issue

Summary

In this video, the host discusses the current state of binary trading in India, addressing its legal status and recent RBI notifications affecting forex and binary platforms. He emphasizes the importance of choosing trusted platforms for trading, such as Quotex and Pocket Option, while providing tips for capital entry, deposits, and withdrawals. The video aims to guide viewers interested in binary options and cryptocurrency trading, urging them to stay informed and engage through comments for future content based on viewer requests.

Takeaways

• 😀 The video marks a return to the channel after a two-and-a-half-month break, focusing on binary trading updates.
• 📈 The presenter mentions that they are less active on the binary trading channel compared to the Forex trading channel.
• 📰 Recent notifications about binary trading regulations, including a list of 75 from the RBI, are discussed.
• 💡 The video addresses how to enter binary trading, including capital requirements, deposit methods, and trusted platforms.
• ❓ It is clarified that binary options and Forex trading are illegal in India, but older platforms may still operate.
• 🏦 Users are advised to avoid government banks like SBI for transactions and consider smaller apps for deposits.
• 🔗 Links to trusted platforms and a peer-to-peer group for buying and selling crypto are provided to ensure safe transactions.
• 🚀 If starting with a capital of $500 or more, crypto trading is recommended for smoother operations.
• ✅ The presenter highlights the benefits of using Ktex and Pocket Option as trusted platforms for binary trading.
• 💬 Viewers are encouraged to comment on what videos they want next, especially regarding detailed reviews of specific platforms.

Q & A

Is binary options trading legal in India?

Binary options trading is not legal in India, nor is Forex trading. However, there are older platforms that have been operating since 2014, which can be used for trading.

What should I consider when choosing a trading platform?

When selecting a trading platform, consider its reliability, the services it offers, and any legal concerns. The video recommends using platforms that have been in the market for a long time and are recognized as trustworthy.

What are the recommended platforms for binary options trading?

The video mentions KTX and Pocket Option as recommended platforms for binary options trading due to their smooth deposit and withdrawal processes.

How much capital should I start with for binary options trading?

You can start with a capital as low as $10. If you have more capital, options like cryptocurrency trading are suggested for better opportunities.

What precautions should I take while trading?

Be cautious of potential scams and ensure that you use trusted applications for deposits and withdrawals. It's advised to avoid government banks like SBI for transactions related to binary options.

What is the current situation with RBI and trading notifications?

The RBI has been sending notices to banks regarding individuals trading in Forex and binary options. Traders should be aware of the notifications and how they might affect their accounts.

How can I deposit and withdraw funds on these platforms?

You can deposit using UPI and other small applications. For withdrawals, ensure you follow the platform's guidelines to avoid issues, especially if you opened your account through a referral link.

Is there a community for buying and selling cryptocurrencies?

Yes, the video mentions a peer-to-peer group where you can find genuine buyers and sellers for cryptocurrencies, which can help avoid scams.

Can I find detailed reviews of trading applications?

Yes, the video suggests checking the full playlist of reviews available on the channel for detailed insights into various trading applications.

What should I do if I face issues with my trading account?

If you encounter any problems with your trading account, you can directly contact the channel for assistance, especially if you opened your account through their referral link.