Online trading is one of the recent trends catching up amongst the Indian traders. However, due to increasing fraud in online financial transactions, it is strongly recommended to take the precautionary measures and trade just through accredited and trusted brokers only. If you are looking for reliable broker Olymp Trade is one of the names that many proficient Indian traders vote for.
We are still getting more and more questions and comments regarding this broker and about trading generally (if it’s legal in India or not), so we decided to prepare this article in which (we hope) you will find all the answers. Let’s go!
Is online trading legal in India?
Although trading is legal in many countries but the RBI (reserve bank of India) has restricted the Indian residents from forex and other types of trading under the Foreign Exchange and Management Act (FEMA) regulations. Indian financial authorities like SEBI do not regulate online retail trading, so even though this type of trading is illegal in India, you can still trade. How?
The brokers do not require a license from Indian regulatory bodies like SEBI or RBI. So Indians who are looking to find a way to trade fixed time trades or forex you can use broker Olymp Trade without any threat. Today we will talk about online trading with this broker. OlympTrade is a great choice because provide the most reliable and professional platform and also withdraws and deposits can be made really easy. There are not any restrictions – you don’t need to worry!
Why trade fixed time trades?
We are getting a lot of messages about this type of trading from Indian traders. Some say that fixed time-trades are one of the most convenient, transparent, and easy to understand trading instrument that has helped many Indian traders multiply their investment fast.
Also, there is the other group of people who say that online trading is bad, but these are usually that once who underestimate the risks. One of the good things about his trading is that the trader is duly aware of all the risks and returns involved in trade even before entering into it.
Traders who want to start with this financial instrument don’t need to learn or know the various complex technical and quantitative tools for executing the trade. In the beginning, only things you need to understand is technical analysis, fundamental analysis, and basics of money management. On our website, we have prepared a lot of articles about these (and also other) topics that will help you to trade.
This type of trading is indeed one of the most profitable financial instruments for traders where the profit may reach up to 92% if a trader goes through an experienced broker like Olymp Trade. All that trader needs to do is to predict the correct direction of the asset that is up or down.
Above and beyond, recognized brokers like Olymp Trade also take the effort to educate traders about the risk involved and practical techniques for making profitable trade by providing them with trading materials in their trading academies. So don’t forget to check these materials.
Olymp Trade – Good broker for Indian traders
Reliability, professionalism and a good trading platform, that are the hallmarks of any successful broker. Olymp Trade is offering its exclusive services in the market since 2014 and also a member of the Financial Commission of A category. Membership of International Financial Commission is a yet another feather in the cap that displays the dependability and sincerity of this firm when it comes to providing quality services. If you still don’t know if this broker is right for you, read our article: Olymptrade – Legitimate Platform or a Scam?
As we said at the beginning we are getting a lot of questions, and one of them is – how to register to Olymp Trade’s platform. It’s very simple, go to > Olymp Trade registration form < and fill all required info (email and password).
Now you will be redirected to the platform, where you can start trading with a demo account with demo money of $10000. Or you can deposit your real money. The minimum amount for deposit is $10 and can trade with as low as $1 with a real account.
You have many options how to deposit to the platform, check the list below:
I guess that everybody will find a way, how to deposit to this broker. There are many ways.
OlympTrade verification
Before you will want to withdraw your funds, to make the registration complete, you need to verify your trading account. For the complete profile info you will need following documents (these are required):
- A clear color copy (scan/photo) passport or national ID card for personal identification.
- A “selfie“ photo of the same person with its passport and the detail of the document seen
- Screenshot of bank transaction or e-wallet with payment confirmation.
Share all necessary documents to the e-mail address that you get in the registration email. Usually, it’s this – [email protected] – but make sure it’s 100% right. Send all documents together with the login email address. Confirmation email notification of validation usually takes 1-3 days, but can take up to five business days.
Detailed info about the verification process, you will find more info in our OlympTrade review.
Conclusion:
Online trading is a trading instrument that anyone and everyone can use. Reason being, this is one of the tools where you can efficiently manage the risk and require the least investment with an opportunity of exponential returns. Support and guidance of an established broker like Olymp trade will ensure that you are doing it most efficiently and safely.
Never start trading on real account if you don’t have any experience. You need to have proper knowledge and experience. Never forget that when you are trading you are risking your money, it’s not that easy how you may think. Be careful and remember that you shouldn’t trade with money that you can’t afford to lose. Good luck!
Author
More about the author J. Pro
Unlike Stephen (the other author) I have been thinking mainly about online business lately. I wasn't very successfull with dropshipping on Amazon and other ways of making money online, and I'd only earn a few hundreds of dollars in years. But then binary options caught my attention with it's simplicity. Now I'm glad it did because it really is worth it. More posts by this author
Can we deposit and withdraw amount using an Indian debit card in India . Whether it should be an international card or it can be a local card . please confirm
It’s very comfortable, that Olymp Trade offers the services through the internet, and the company itself is registered not in India. Indian traders can easily trade on the platform, despite the prohibitions of the regulators, as they are cooperating with the foreign company. More than that, for the Indian investors this is fully legal chance to invest in cryptocurrency, which is also forbidden in India.
Hello sir, I am a student, 23 and I want to make some money for my extras, and I have a knowledge that it is illegal to convert INR to USD, so if I use my debit card for depositing and withdrawing money will it be legal?
Verification with Olymp Trade is very convenient. The selfie system makes life much easier, especially when you’re a traveller who doesn’t have a constant place of living. When brokers require to verify your living address, let’s say, with a utility bill, this makes it quite a challenge. On the contrary, Olymp Trade makes it pretty simple – all you need is just an ID and a selfie of yours, and the verification is successfully passed. What’s really cool is that such a system is not only convenient for the client but also quite secure.
On account of the fact that the Indian regulator RBI doesn’t regulate options trading in the country, it is surely harder for people to pick a broker there. Whereas in other countries one can assess the reliability of a company by its regulator, in India it just doesn’t make sense – the Reserve Bank is standing idly by this matter. That’s why the Indian residents are offered services by a variety of companies, of which just a few might be truly reliable.
If we cannot draw conclusions based on regulation, the next best option is to judge by the reputation of the company. The reputation of Olymp Trade is flawless, the company is a leader in its sphere, with millions of clients throughout the world. That’s why I picked Olymp Trade among others, and I’m totally happy with my choice.
I made my first deposit through Skrill, and then I withdrew money a couple of times through this very system. E-wallets are quite convenient, they allow to receive money a lot faster than with a credit card. However, there is a problem – at my last withdrawal the charges for money transfer from the e-wallet to the card amounted to 7,5%. So now I’m thinking of probably withdrawing the profit in bitcoins next time. Why not? The cryptocurrency is just growing in price, and the commission for bitcoin transactions is fairly low. Plus, you might get an additional income if you withdraw money in cryptocurrency and it rises in price afterwards. A fair deal, isn’t it?
Thanks for your comment Svank.
Wow, I didn’t know that options in India are forbidden! Anyway, other countries have no trouble trading with Olymp Trade, so probably that’s the case with Indian citizens as well. The regulators’ positions change, that’s all politics. The important thing is the broker’s global profile, and Olymp Trade is way more reputable than all the brokers I’ve ever known.
Dear Steven, even though it’s forbidden, you can still trade. If you don’t tell anybody. 🙂