Which Currency Trading Is Legal in India
but there is no regulator like SEBI that protects investors` interests Yes, you are right AJay, trading Indian cross-currencies is purely legal. See Forex trading is legal in our country, although it is regulated by the RBI, FEMA. Hi, how legal would it be if two people exchanged currency (say USD to INR) alone? Hello, I have a question. I have forex trading accounts with various forex brokers. I joined these sites in December 2011. However, I stopped trading Forex almost 6 months ago. I have never used my credit card to make a deposit (Via PayPal / Moneybookers / Payza etc.). I bought dollars from local interchanges. Is it now possible to close all these accounts? Can I ask my broker to close my account and remove my proof of identity from their server? There are many companies that are good for this, such as Instaforex, YoutradeFX for the latest comments/posts on RBI, Forex legal/illegality, and bank transfers. Forex trading is only legal if it is done through the Forex trading platform.
A forex trader who engages in electronic or online forex trading abroad will be found guilty of violating the foreign exchange laws in India. Dear Forex traders (traders who only trade international currency pairs) Today I would like to say one thing. Many of you are waiting for a clear authorization from RBI REGULATION for Forex trading. It is a waste of time. Try to trade Forex with pacific. But don`t trade in India. Trade in India is in violation of RBI regulations. Always be positive. Forget about RBI regulations.
There are many countries that give foreigners permission to trade Forex under the investment investment program. I am one example. Just feel the current RBI regulations in India as a public holiday. The holidays can last a few years. But forget it. Don`t confuse your subconscious mind by thinking about RBI regulations. Forex trading is a blessing for us in this generation. I would only suggest using it.
Trade Forex… trade Forex. in the restricted area. The Forex market is open 24 hours a day, five days a week in major financial centers around the world, allowing traders to buy and sell currencies at any time of the day. It is far from being a one-stop shop. To make Forex trades, an investor can choose from a number of different options. You can go through a variety of merchants or financial centres that use a variety of electronic networks. Nowadays, currency trading is made easy with a simple click of the mouse, and accessibility is not an issue, which means that anyone can do it.
However, many investment companies allow individuals to create accounts and exchange currencies. Futures swaps can be traded on the National Stock Exchange (NSE), the Bombay Stock Exchange (BSE) and the Multi Commodity Exchange (MCX) in India. The trader must create an account with the broker and trade between 9am and 5pm. Transactions are paid in cash and do not require physical delivery. For this type of trading, the trader must meet the broker`s Know Your Client (KYC) requirements. The trader must make a margin deposit, which is the amount the broker holds while the trader`s forex trading is open. You can start trading after the broker has published the trading account credentials. Even states, I mean, America have restrictions on Forex trading, I only knew this recently, and it seems that the MT platform has taken a turn for all small agents to launch the Forex trading agency, most of them are not under legal control( check and will be surprised), It will be a real blow in the arm when it comes to withdrawal, Another trap is the bonus which is offered as a $500 deposit to get up to 100% bonus. If someone takes this greededly, then they are about to follow the hidden agenda of exceeding the bonus level.
INFERENCE:…….. So you end up losing, so be careful, we can make money in our stocks and mcx if you are a disciplined trader with a bit of fundamental, I`m sure Rajendran is doing everything he can for that. Thanks to the ablve conversation, I think there is no solid evidence that we can or cannot trade Forex, submit with better proof, and then say that famous sites like. Iforex.com, easyforex.com deceive the Indian people Foreign exchange is a global market for exchanging national currencies. Forex markets are nominally the largest securities market in the world, with billions of dollars changing hands every day. Another way to get involved in the foreign exchange market is through forward and forward trading. Exchanging one currency for another at a local bank is a simple example of currency. It can also include forex trading in the foreign exchange market. For example, if one trader predicts that the central bank will ease or tighten monetary policy and one currency will strengthen against another, the other will lose value. Forex trading pairs are formed, such as IND/USD or Indian rupee against the US dollar; USD/CAD or US dollar against the Canadian dollar (CAD). 2) Please also indicate what you filled in the form when filing taxes. Have you fulfilled Forex trading as a source of income? Forex trading is legal in India as long as it includes the Indian rupee as the base currency, but it is a risky trade and should be done after consultation.
This strategy focuses on the carry trade, which has an interest rate differential between the two countries whose currencies are traded. This involves selling the currency with a low interest rate and buying the currency with a higher interest rate and is therefore considered a very effective strategy if implemented correctly. It often focuses on borrowing in one low-interest currency and exchanging borrowed money for another currency. Don`t worry, it`s legal. Simply use the online payment system for withdrawals and deposits, then the government may not be aware of your transaction. But please let me know if anyone here is trading US E-Mini S&P500 futures? Is it legal to get the account funded by a friend residing in the United States to trade futures? I am currently considering opening an account with Interactive Brokers or optionExpress. Once you start trading, as with any other investment, it is necessary to make informed and intelligent decisions. Hello! Rajendran, thnk msleadng us that Forex tradng n nda s llegal.
Can you trade INR to USD, INR to GBP and other INR against other Forigen currencies? Pls advises Yes Ajit, Many people in India trade on the Forex market, but that doesn`t mean it`s a legal concept. When it comes to the trial, you are someone who has to suffer. Already the RBI had recently brought here an announcement to block credit cards and bank accounts more information here The RBI takes strict measures against illegal Forex and CFD trading In India, currency or forex trading is not allowed. If someone is caught trading Forex instruments in the Forex market by representatives of the Reserve Bank of India, they will be immediately charged with breaking the law. Therefore, it is legally a crime to engage in Forex trading and the charge of the crime is imprisonment in a prison of this country. The offense is considered immense, the prediction of intensity can be derived from the fact that it has been classified as unreleaseable. Here is the perfect scenario. 1) INR is not fully convertible, so trading Forex in other pairs except INR pairs is illegal in India 2) Unfortunately, pairs with INR do not offer much liquidity, so trading these pairs is extremely difficult and loses 3) brokers (except Alpari) who have registered with SEBI do not offer an MT4 platform, which is used by Pro Forex traders around the world 4) The brokers that offer the mt4 platform do not have SEBI registration/NSE registration, so they do not fall under the jurisdiction of SEBI 5) So if you are trading with non-registered brokers, and in pairs that are not allowed in India, the result is obvious, either you end up in jail or the broker eats your money, and you cannot go to court or SEBI against the broker because you yourself are involved in illegal activities, which is well known to brokers.