Yes, It is entirely legal and safe in India to trade with Olymp trade as the Indian government has not put any restriction on the binary options. The broker has become very popular among Indian traders due to its local Hindi language support and world-class trading platform.
The Olymp trade is not registered with the SEBI (Securities and Exchange Board of India), but there is nothing to worry about the broker’s legality. No registration with SEBI means that the traders are fully responsible for any transaction made with the broker, and that the Indian authorities would not mediate if any dispute arises between the parties. [1]
Furthermore, the broker fully supports Visa/Mastercard transactions for Indian traders despite not being registered with the SEBI.
What Makes Olymp Trade Trustworthy and Legitimate?
There are a few factors that we may consider when deciding how trustworthy and legitimate the broker is. Those factors are:
- Large customer base and positive rating. The company has managed to gain popularity and interest among the traders. You may find plenty of positive comments and ratings on major rating websites such as Trustpilot, quora, forexpeacearmy and babypips.
- Operation history and dealings with Indian authorities. The boker has been offering its services to Indian traders since 2014. Over the past seven years, there hasn’t been any major regulatory issues with the Indian authorities.
- Involved in charitable causes. The broker has always been involved in charitable activities across India, and that goes to show their strong interest in improving the financial well-being of the less fortunate community in India.
- Hindi language customer support & online resources. This shows that the broker has an intimate understanding of their Hindi language speaking traders, which makes up the majority of the country’s population.
Conclusion:
Although Olymp Trade is not licensed by SEBI, their operation history, numerous positive ratings and reviews as well as large customer base suggest that they are a reliable broker where you need not worry about getting scammed.
