Unknown about this illegal platform

General
1

Sir, @nithin @Meher_Smaran @ShubhS9
Previous Year(NOVEMBER 2022) I started Binary Trading (IQ OPTION) being influenced by some trader and advertising sponsorship.

I DEPOSITED 2000 RS in IQ OPTION.

AND AFTER SOME TIMES /AFTER SOME MONTHS LATER . (February 2023)
I knew that binary trading and forex trading is illegal in India. (I don’t know previously that it is illegal platform ). AND I knew ABOUT the FEMA ACT( Sir it is not fair.)

AND AFTER LOSS OF 900+RS I WITHDRAW MY REMAINING BALANCE.

And never trade in that illegal platform AND LEAVE ALL THE ILLEGAL platform.

And switch to REGULATED STOCK MARKET.

Sir ,
My Questions is : Is there will be any PROBLEM IN FUTURE?

  1. Unknowingly I was trading on this platform in this illegal market and but I leave that market few months before . Is there will be any issues?
  2. Does I am under Fema act ?
  3. Does there will be any legal action?
1 Like
2

For the amount of money you are talking about, I don’t think it should be an issue. Best not to do anything in the future.

3 Likes
3

Sir,
@nithin

sir when I came to know that IQ OPTION platform is ILLEGAL then I left the platform immediately and I have never visited this platform again and in future I will never visit any of these illegal platforms.

Sir, Should I worried about any legal action.

I am afraid about of fema and start to overthink and got into depression.

Please sir kindly help me to know that I am safe or not.
Please :pray::pleading_face:

2 Likes
4

As I said earlier, nothing for you to worry about.

1 Like
5

I think it’s kind of a legal vaccum as the company is actually not based in India, so you shouldn’t face any legal action as per my understanding

I actually traded with IQ Option for a while and I was in some forums and met some guys from IQ Option who seemed to trade full time with them with no issues, so you could even continue to use it and be fine, as it’s like I said actually not operating locally