Attention! - Forex trading is illegal in India!

[santoshdts]

Any Demo MT4 broker who has nearly same quotes as NSE quotes for USDINR pair?

Santosh

 

[GHAISAS]

Do we have any broker who provides MT4/MT5 charting for trading in NSE/MCx?

Thanks,

ghaisas.

 

[Tavnaz]

Overseas forex trading is explicitly banned in India. Individuals can trade fx in NSE and MCX with four approved pair like USDINR, JPYINR, EURINR, GBPINR. Thats legal and allowed.

Brokerages are extremely low.

Hear Quantart is offering zero brokerage. no monthly fixed also.

i bet,you love trading INR ,which barely has a good move?

ok,so what is illegal and what is legal?
It's all perspctive.....

Infact,very first thing to do is,one should ask,themselves can they really trade on a demo account,before arguing what is legal and illegal.
try placing an order on inr pairs see how wonderfully it moves. haha

 

[mathewfx]

Overseas forex trading is explicitly banned in India. Individuals can trade fx in NSE and MCX with four approved pair like USDINR, JPYINR, EURINR, GBPINR. Thats legal and allowed.

Brokerages are extremely low.

Hear Quantart is offering zero brokerage. no monthly fixed also.

really? didn't know that

 

[sumantra]

i am a beginner in forex trading. please tell how can i trade forex? where should i open a/c to trade forex? also tell me about the pros and cons of forex trading.

 

[pkdoo7]

Recent conspicuous circular has by far complicated dialects on forex related canon. corresponding to precursor rule , this blends more obscure citation.amorous forex fans who are springing for incursions; subsequently,might be raided or caught behind. any kind of chaos or upheaval against the rules of RBI from any domestic citizen would be enough for his or her account dismemberment from functionaries later . because terms of rule are no so benign , until you trade domestically . thus, instead of mumbling on this issue , we should left the plan for abundant money from forex or try to trade out side of country .

 

[pkdoo7]

Right now their are some excellent changes have been made from RBI which is really awesome . recently I have read in FDI policy circular, where clearly mentioned that any individual can freely repatriate profit , dividend from abroad and upto $25,000 can remit to capital account transaction . this is really a good news for all . and I can say that , every one has freedom to invest in forex now in his or her own responsibility .

 

[aryabhatta]

Right now their are some excellent changes have been made from RBI which is really awesome . recently I have read in FDI policy circular, where clearly mentioned that any individual can freely repatriate profit , dividend from abroad and upto $25,000 can remit to capital account transaction . this is really a good news for all . and I can say that , every one has freedom to invest in forex now in his or her own responsibility .

Even before you could repatriate profit from abroad no problem what is explicitly in the rules is forex trading is not allowed. Forex trading means OTC currency trading, other than this you can trade anything even on margin on SEBI recognized exchanges abroad.

Please don't misinterpret thinking if you can repatriate profit it automatically means you can trade FOREX to generate than profit. You can't

If you're an Indian resident you can not trade FOREX .... period ... paragraph.

Now only coming amendment they will make to FEMA is for FDI in multi brand retail, but I'm pretty sure it will make no difference to FOREX trading.

 

[aryabhatta]

Recent conspicuous circular has by far complicated dialects on forex related canon. corresponding to precursor rule , this blends more obscure citation.amorous forex fans who are springing for incursions; subsequently,might be raided or caught behind. any kind of chaos or upheaval against the rules of RBI from any domestic citizen would be enough for his or her account dismemberment from functionaries later . because terms of rule are no so benign , until you trade domestically . thus, instead of mumbling on this issue , we should left the plan for abundant money from forex or try to trade out side of country .

Tu kya bol raha hai yare ?

seetha english mein bol na ... when you try to use hifi english it comes out really weird, hifi english is meant for this who know how to use it correctly

 

[fxgood]

Is there any reason's RBI put this kind of bans for residents? I mean what i fail to understand is the logic behind it, when internationally almost every country allow their residents why just India central banks put this into .?!?

Some one can please explain this in details?