How to trade in COMEX(bullion)?

T

tradersuraj

Member
#1
#1
Hi friends and fellow traders,

I have been trading Bullion on the MCX for a while now and have also been following COMEX (gold, silver). I want to trade on the COMEX too, so could anyone guide me as to how to go about it?...

I also contacted a broker in New York who accepts international clients to trade on the COMEX, but my question is about margins

1] It costs $8500 as margin for 1 lot gold and $25000 as margin for 1 lot silver which is huge. Now even if one can afford it, does RBI allow to transfer that kind of money to a broker abroad suppose if someone wants to trade in 10 lots silver which would come to $250,000 or almost Rs.1 crore?

2] What about when you book profits? Would it be easy to transfer the money back to India?

3] Is there a local broker/dealer here who allows to trade on the COMEX and how would the pay-in/pay-out be?..in dollars or rupees?


I apologise if the questions sound amateurish, but i would really love to trade on the COMEX and am not finding any answers.
 
K

kt100

Member
#4
#4
tradersuraj said:
Hi friends and fellow traders,

I have been trading Bullion on the MCX for a while now and have also been following COMEX (gold, silver). I want to trade on the COMEX too, so could anyone guide me as to how to go about it?...

I also contacted a broker in New York who accepts international clients to trade on the COMEX, but my question is about margins

1] It costs $8500 as margin for 1 lot gold and $25000 as margin for 1 lot silver which is huge. Now even if one can afford it, does RBI allow to transfer that kind of money to a broker abroad suppose if someone wants to trade in 10 lots silver which would come to $250,000 or almost Rs.1 crore?

2] What about when you book profits? Would it be easy to transfer the money back to India?

3] Is there a local broker/dealer here who allows to trade on the COMEX and how would the pay-in/pay-out be?..in dollars or rupees?


I apologise if the questions sound amateurish, but i would really love to trade on the COMEX and am not finding any answers.
Click to expand...

as far as the word goes, one cannot trade in margin money through a foreign broker in forex. since the dynamics are essentially the same( transfer money, leverage, conversion into dollars) it would seem that the same rule applies to trading commodities through a foreign broker.

and there is no indian broker offering comex trading. though if u have your mind set, you can try interactive brokers. they do have a office ( i think) in india and would help you in all issues you have asked above.
 
V

Vish4u85

New Member
#5
#5
Hello Suraj,

This is Vishal Pateliya. If you want to trade in COMEX GOLD SILVER or CME EURO/USD pair or NYMEX CRUDE then contact me on 07359100097.

I will serve you at your best.

Thanks

Vishal Pateliya.
 
rgrforex

rgrforex

Member
#6
#6
My advise is not to invest that much huge money to somone in other country even without knowing his face and who he is ...If there is any problem , where and who will u ask ?

Even if u make profit , whats the guarantee he will pay you the money ..and always theres a huge risk playing with huge money and RBI ..

With that much money you can easily play in Gold and SIlver in MCX itself trading in 3-5 lots ...you can get a awesome profit per day with each tick change ...
 
You must log in or register to reply here.
Thread starter Similar threads Forum Replies Date
R High Leverage trading with Metatrader (400:1, 500:1) General Trading & Investing Chat 0
praveen taneja An Old Tukka Trader who by the grace of God Now Earning with blessings Swing Trading 15
R Anyone else trade based on the 4 stages of the market General Trading & Investing Chat 3
R Can you choose what leverage to use before each trade? General Trading & Investing Chat 2
R Metatrader4 is helpful? General Trading & Investing Chat 0

Similar threads