Dear All,
What I have seen they do not wish to allow residents to export their funds for forex investment for two reasons 1. to keep the money in india and 2. they were a few forex companies promising large returns which people were scammed into hence the RBI bought out a warning but not a law.
Can someone send me the RBI Link where it states that margin or forex trading is actually illegal online with international companies or is it only in India they cannot trade? Similar to Cypriots we cannot have casinos here but we can go to North Cyprus and gamble or we can open online casinos.
Kind regards,
What I have seen they do not wish to allow residents to export their funds for forex investment for two reasons 1. to keep the money in india and 2. they were a few forex companies promising large returns which people were scammed into hence the RBI bought out a warning but not a law.
Can someone send me the RBI Link where it states that margin or forex trading is actually illegal online with international companies or is it only in India they cannot trade? Similar to Cypriots we cannot have casinos here but we can go to North Cyprus and gamble or we can open online casinos.
Kind regards,