Why Traders Love Binary Options in India?
India is one of the emerging economies in today’s world with its growing manufacturing and service industries. Binary options trading has also been welcome into the Indian community, helping Indians trade on domestic assets as well as assets from across the globe. With India being a prime growth economy, there are a number of individuals residing in India who see trading binary options as an accessible and easy way to earn sizeable profits.
There are three primary reasons for the growing popularity of binary options in India. This includes the rising usage of smartphones and online technology across the country, the growing interest of the financial markets amongst Indians and the number of Indian assets that are available on binary trading platforms such as EZTrader. Let’s take a look at each of these reasons to learn more about why Indians have grown to love trading binary options :
The Rise in Smartphone & Online Access
India has become one of the global leaders of technological advancements. Indians have grown a foothold in providing information technology (IT) services to a range of Westernized countries. In doing so, they have enabled their country to gain access to the online world. Binary trading has grown in popularity as many Indians now have access to the internet through their mobile devices or personal computers. What’s interesting about this rise in usage is that much of this is still untapped. As of 2012, India had the 3rd largest number of internet users worldwide after China and the US. However, this only represents 11.4% of India’s overall population. Right now, the growth in internet usage in India is rising at an exponential rate on a daily basis as networks are expanding and the price of mobile devices becomes more affordable. This creates a situation where there are major opportunities for Indian traders to access binary options through their newfound online usage. Not only can they gain access to information quickly online to perform their trades, traders can also take action through the use of online binary trading platforms and mobile apps.
A Rising Interest in the Financial Markets
As India’s domestic economy continues to contribute more to the global economy, many Indian consumers are becoming more interested in the stock market. Since a number of Indians are learning more about their primary sectors – such as manufacturing and IT – through their day-to-day work, they are dabbling with trades. This presents opportunities for binary trading as they can trade on stocks and indices from India or other global markets but also manage their risk easily online. They can also trade on assets across a range of categories as well as in markets outside of India since these are available through the online platform.
The Accessibility of Indian Stocks and Indices for Binary Trading
On the EZTrader platform, all of our traders can place trades across a range of global assets, including the Indian market. Our Indian traders find trading on domestic stocks and indices useful so they can make a prediction on a stock or index they have local insight on. This local knowledge can help them to understand how the asset will move upon expiration. Indian assets available on EZTrader include –
SENSEX – a stock market index that consists of 30 well-established and financially sound companies that are listed on the Bombay Stock Exchange (BSE). These 30 firms represent the largest and most actively traded stocks and span across a range of industries such as the financial services, pharmaceutical and oil and gas sectors. The value of the SENSEX is said to provide a good indication of the stability of the Indian economy overall.
Nifty 50 - the Nifty is a market index comprised of 50 major stocks, measured by market capital status, that are traded on the National Stock Exchange of India (NSE). The index maintains 22 Indian economy sectors and provides the trading community with a single portfolio for all of these markets. The index includes companies that represent an overall picture of India’s developing economy.
Reliance Industries Limited (RIL) - an Indian conglomerate company that operates three primary business segments – petrochemicals, refining and oil and gas. As a company, it also has other diversified divisions related to textiles, telecommunications and retail.
Tata Motors – a multinational automotive company who has grown to become one of the largest motor vehicle manufacturers in the world by volume. The organization is a member of the Tata Group, which currently manages a range of businesses across India. The company expanded its operations into production of commercial vehicles in 1954 when it formed a joint venture with Daimler-Benz AG of Germany.
Tata Steel - a multinational steel company that can trace its roots back to 1907, it is one of India’s largest companies. Headquartered in Mumbai, India and a subsidiary of the Tata Group, it is the 10th largest steel-producing company in the world.
Whether you are based in India or have an understanding of the Indian market, binary trading continues to be a growth area for the Indian trading community. As India continues to expand its influence in today’s global economy, there is no doubt that the popularity of binary trading in India will continue to grow as traders seek to improve their profit potential.