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Such trading is a financial tool that enables investors to predict on the price movement of multiple assets like shares, commodities, cryptocurrencies, and forex pairs. Unlike traditional financial markets, binary options trading entails predicting whether the price of an asset will go up or down within a particular period. If the trader's prediction is accurate, they will earn a fixed return on their investment, usually up to 90%. However, if the trader's prediction is wrong, they will lose the total of their initial investment. This method of trading is recognized for its straightforwardness and potential for high returns, but it also has significant risks.

Selecting 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 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 crucial to verify that the broker you choose complies with all legal requirements and regulations.
2. Reputation: Look into 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 easy to use and easy to understand, especially for beginners. It should also have all the necessary tools and features for technical analysis, strategy building, etc.
5. Customer Support: Check that the broker has reliable customer support that can be reached 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 Binary Options Forex 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 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: Check the variety of assets offered by the broker. The more assets they offer, the Binary Trading 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 improve 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 aren't any specific laws banning this form of trading, the Reserve Bank of India (RBI) hasn't given it legal status either. The Securities and Exchange Board of India (SEBI), the body that regulates the securities market in India, hasn't authorized any binary options brokers. Therefore, while there's no explicit prohibition, engaging in binary options trading comes with significant risks due to the shortage of regulatory oversight. It's vital for individuals to thoroughly explore and consult a legal advisor before participating in binary options trading in India.

In conclusion, the practice of binary options trading in India is both controversial and risky. Even though it has the potential for high returns, it simultaneously 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 those interested in binary options trading to completely understand the market and its risks prior to getting involved. It is also advisable to deal with licensed brokers to guarantee their investments are safe. Ahead, clear regulations from authorities like SEBI could offer a safer and better organized environment for traders.