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This type of trading is an investment method that allows investors to predict on the changes in the price of multiple assets like stocks, commodities, cryptocurrencies, and forex pairs. As opposed to traditional financial markets, binary options trading requires predicting whether the price of an asset will go up or down within a certain period. If the trader's prediction is right, they will get a fixed return on their investment, often up to 90%. However, if the trader's prediction is wrong, they will lose the entirety of their initial investment. This form of trading is known for its ease and chance of big returns, but it also comes with significant risks.

Choosing the right binary options trading broker in India necessitates careful consideration and research. Here are a few steps and factors to consider:
1. Legalities: The principle thing to consider is the legality of binary options trading in India. Although it's not illegal to trade binary options in India, it's not regulated by any financial authority either. So, it's crucial to make sure that the broker you choose complies with all legal requirements and regulations.
2. Reputation: Investigate the broker’s reputation. You can do this by reading reviews from other traders, checking online forums, and looking at ratings on relevant websites. The reputation of a broker can give you an insight into their reliability and trustworthiness.
3. Security: It's crucial to choose a broker that provides high-level security. You should look at the encryption methods they use, whether they follow regulatory standards for data protection, and if they have any history of security breaches.
4. Trading Platform: The trading platform provided by the broker should be user-friendly and easy to understand, especially if you're new to this. It should also have all the necessary tools and features for technical analysis, strategy building, etc.
5. Customer Support: Ensure the broker has reliable customer support that can be contacted easily through multiple channels like email, live chat, and phone. They should be able to provide prompt and helpful responses to your queries.
6. Payment Methods: Check out the deposit and withdrawal methods offered by the broker. They should provide popular and widely accepted methods like credit/debit cards, bank transfers, and e-wallets. Also, check if they charge any fees for deposits or withdrawals.
7. Demo Account: A demo account allows you to practice trading without risking real money. It's a great Expert Option Promo Code way for beginners to learn about binary options trading and for experienced traders to test new strategies.
8. Payouts and Returns: Compare the potential payouts and returns offered by different brokers. The higher the payout percentage, the more money you can make on successful trades.
9. Asset Variety: Look at the variety of assets offered by the broker. The more assets they offer, the more trading opportunities you have.
10. Educational Resources: The broker should provide educational resources like webinars, e-books, articles, tutorial videos, etc., to help you boost your trading skills and knowledge.
Remember, choosing the right binary options broker can considerably impact your trading experience and success. So, take your time to research and select the best one.

In India, binary options trading is a rather ambiguous matter. While there are no clear-cut laws that ban this form of trading, the Reserve Bank of India (RBI) has not legalized it either. The Securities and Exchange Board of India (SEBI), the body that regulates the securities market in India, hasn't licensed any binary options brokers. Therefore, while there's no explicit prohibition, engaging in binary options trading comes with significant risks due to the lack of supervisory mechanisms. It's vital for individuals to do intense research and seek legal advice before participating in binary options trading in India.

To sum up, the practice of binary options trading in India is both controversial and risky. Although it can potentially yield high returns, it simultaneously carries a significant risk of loss. It is presently in a legal grey area in India - not explicitly prohibited but also not officially allowed. Nevertheless, it's essential for those interested in binary options trading to thoroughly understand the market and its risks prior to getting involved. Options trading It is equally advisable to deal with licensed brokers to ensure their investments are safe. Ahead, clear regulations from authorities like SEBI could provide a more secure and better organized environment for traders.