Feedback Message Board

Sir can you explain it...The binary trading is illegal in India. “The RBI cautions the public not to undertake forex transactions on unauthorized ETPs or remit/deposit money for such unauthorized transactions. Resident persons undertaking forex transactions for purposes other than those permitted under the Fema or on ETPs not authorized by the RBI shall render themselves liable for penal action under the FEma.”

Is there any penalty or prosecution for transferring the amount to a trading app like octafx, quotex? even if they have Indian bank transfers enabled?

I think it is a serious matter...if there is objection by SEBI then there is a 3 times penalty for transactions.

So all our work will be lost.