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This type of trading is an investment method that enables investors to predict on the changes in the price of different assets like stocks, commodities, cryptocurrencies, and forex pairs. As opposed to traditional financial markets, binary options trading entails predicting whether the price of an asset will go up or down within a specific period. If the trader's prediction is accurate, they will receive a fixed return on their investment, usually up to 90%. However, if the trader's prediction is incorrect, they will lose the whole of their initial investment. This type of trading is known for its simplicity and possibility of high profits, but it also carries significant risks.

Picking the right binary options trading broker in India requires careful consideration and research. Here are a few steps and factors to consider:
1. Legalities: The main thing to consider is the legality of binary options trading in India. Even though it's not illegal to trade binary options in India, it's not regulated by any financial authority either. So, it's essential to verify that the broker you choose complies with all legal requirements and regulations.
2. Reputation: Research 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 important 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 simple to navigate and easy to understand, particularly if you're a beginner. It should also have all the necessary tools and features for technical analysis, strategy building, etc.
5. Customer Support: Make sure the broker has reliable customer support that can be accessed 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: Look at 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 lets you to practice trading without risking real money. It's a great 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: Examine 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, picking the right binary options broker can considerably impact your trading experience and success. So, take your time to research and select the best one.

Binary options trading in India is a subject of ambiguity. While there aren't any specific laws banning this form of trading, the Reserve Bank of India (RBI) hasn't also approved it. The Securities and Exchange Board of India (SEBI), the body that supervises the securities market in India, doesn't license 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 imperative for individuals to thoroughly explore and talk to a legal expert before taking part in binary options trading in India.

To sum up, the practice of binary options trading in India is both controversial Binary Options Forex and risky. Although it can potentially yield high returns, it also carries a high risk of loss. It is presently in a legal grey area in India - neither officially allowed nor explicitly prohibited. Nevertheless, it's essential for individuals interested in binary options trading to fully understand Binary Options Forex the market and its risks prior to getting involved. It is also advisable to work with licensed brokers to guarantee their investments are safe. Looking ahead, clear regulations from authorities like SEBI could provide a more secure and more structured environment for traders.