Attention! - Forex trading is illegal in India!

[bhanumati]

but reliance money super trade still claims that it is the least brokerage trade site.how come?and do they have any more service than fxcm?

 

[ullasr]

but reliance money super trade still claims that it is the least brokerage trade site.how come?and do they have any more service than fxcm?

concentrate on performance not on brokerage or economical platform.

 

[xerof]

Hi guys,

This post is outdated, the starting date is in 2007. Online Forex trading is by now finally legal in India and making profits is even more legal, because then you can pay taxes. Who of you is making a profit trading currencies? I started trading with Meta Trader 4 and had huge problems, after I switched to http://www.forexyard.in I finally make some healthy money every month by trading in currencies and commoditites.

 

[cooldudeRE]

hey guys,
any info about Fxcentral. they have office in bangalore & are accepting funds in indian ruppes. they say that they have a tie-up wit Axis Bank.
I am nt sure if its legal. If anybuddy can give their inputs then please.
Thnx.

 

[duster]

If they accept funds in Indian rupees and let you trade currency pairs like EUR/USD - then it's 100% illegal, you can call the police.

 

[mitesh manani]

Forex is a real time trading market that involves the purchasing of one currency while selling a different one.

The special attribute of forex real time trading is that you can monitor the market live, without brokerage firm
. A real time forex trader can make deals at any moment as the FOREX market works 24/7, which gives investors the chance to make currencies transactions at every given moment.

i am sure forex trading is legal!

 

[findvikas]

Guys this thread title is not suited anymore for the kind of talk we are having here. How about a new thread for "FX Chit Chat"... just share and have a nice talk there... the title stops me from visiting this thread

 

[desifxtrader]

Hello friends,

I hope this helps and ends this argument:

http://www.business-standard.com/india/news/alpari-launches-forex-trading-platform-in-india/64289/on

 

[ullasr]

thanks so much wonderful information.i will also start trading soon with my cousin whos in dubai for forex trading using super trade.thanks guys!

 

[findvikas]

Nothing stops the argument until you have a document from RBI clearly stating that Funds sent to international accounts for Margin funding is LEGAL. I spoke to Alpari's New Account Head today and he cleared my doubts.

This link only advertise that Alpari got a local branch.. it does not state whether its legal to use Alpari for Margin funding
http://www.business-standard.com/india/news/alpari-launches-forex-trading-platform-in-india/64289/on

What he told me is that we are providing account with as low leverage as 1:1 and allowing client to increase leverage if they like to but he had no word on legality of it. I confirmed if RBI catch you then you are on your own. They are here just for offshore client capturing. They are just marketing guys for Alpari UK and all the funds will be transferred in USD terms and remittance will be sent also in USD terms.

So whomsoever says Alpari is legal... please think again. They are legal if you are trading with 1:1 leverage and I burst out laughing.. he might feel awkward but so was his comment.. who want 1:1 leverage in FX world ? Think again..