Legality of online Binary options trading in India

Sir, I want to know about the legality of trading binary options through online brokers like IQ options, Expert options etc in India . I do know that it is unregulated and not encouraged because it is basically similar to gambling. I received a message from IQ options support stating that it is not illegal to trade binary options on their platform provided that I duly report any earnings I make out of it while I file my tax papers. This made a lot of sense to me. But I still find a lot of information against binary options trading online. I have been trading on Iq options virtual practice account for quite sometime now and have been making profits there. If I were able to trade in a real account I believe I can make some real money. So can you please clarify as to the legal status of online binary options trading in India. If it is not legal, kindly suggest action against these online brokers who openly advertise their apps on numerous platforms and mislead the public stating that it is legit. If it is not illegal and provided that I duly report my earnings from it before the income tax authorities, can I proceed in peace knowing that I am not breaking any laws. Your's sincerely Akhil