Hello, recently national stock exchange has enabled trading in global indices s&p 500 and DJIA,I only trade them both and commodities!Now we all know that international currency trading is illegal in india, no resident is allowed to deposit money in overseas broker and trade in forex or remmitance in the form of margin calls or margin trading( I don't know what the heck is this?) hence we all are doing it there are loopholes! but......
now that NSA has allowed trading in global indices I was wondering that I am more comfortable in trading on the meta trader 4 platform ! If i choose the law i would have to open a demat or trading account with a bank in order to trade in these indices, hence I just cannot stand their platform there platforms are way above my head! I love mt4, there I can choose the lots ,volume use various indicators etc etc it is very easy and i love it!! even the professional traders all over the world use these mt4/mt5 and not some stupid icicdirect or axix demat account for technical analysis! you all know that! but these banks platforms are shi* according to me! Most of the brokers overseas are nowadays offering multi instruments! forex, indices, future, options ! Now according to the law "A resident individual may make a remittance under the Liberalized Remittance Scheme for resident individuals upto USD 200,000 for capital or current account transcation" Residents are, however, permitted to trade in currency futures and options contracts, !!
:"MY QUESTION IS"- "SUPPOSE" my family in london,UK suppose they fund my account with a very good capital, they do it from london with their pound money they fund my fxcm account ! or leave family suppose I won a demo contest and got some money to start trading from the broker itself !!Now if i trade these 2 indices on multiple instruments based brokers like fxcm and withdraw to my indian bank account and telling the bank that return from trading in s&p 500 and dow jones ,Gold, Silver !! as trading in commodity and these 2 indices are legal will "THE LAW APPLY ON ME", ? the only problem is that i am trading on an overseas broker that allows trading in many instruments! Am I breaking the law? I am trading indices and commodity on a forex broker in other words but i did not remit any money from india! can i directly tell the bank these? and what is your opinion?
now that NSA has allowed trading in global indices I was wondering that I am more comfortable in trading on the meta trader 4 platform ! If i choose the law i would have to open a demat or trading account with a bank in order to trade in these indices, hence I just cannot stand their platform there platforms are way above my head! I love mt4, there I can choose the lots ,volume use various indicators etc etc it is very easy and i love it!! even the professional traders all over the world use these mt4/mt5 and not some stupid icicdirect or axix demat account for technical analysis! you all know that! but these banks platforms are shi* according to me! Most of the brokers overseas are nowadays offering multi instruments! forex, indices, future, options ! Now according to the law "A resident individual may make a remittance under the Liberalized Remittance Scheme for resident individuals upto USD 200,000 for capital or current account transcation" Residents are, however, permitted to trade in currency futures and options contracts, !!
:"MY QUESTION IS"- "SUPPOSE" my family in london,UK suppose they fund my account with a very good capital, they do it from london with their pound money they fund my fxcm account ! or leave family suppose I won a demo contest and got some money to start trading from the broker itself !!Now if i trade these 2 indices on multiple instruments based brokers like fxcm and withdraw to my indian bank account and telling the bank that return from trading in s&p 500 and dow jones ,Gold, Silver !! as trading in commodity and these 2 indices are legal will "THE LAW APPLY ON ME", ? the only problem is that i am trading on an overseas broker that allows trading in many instruments! Am I breaking the law? I am trading indices and commodity on a forex broker in other words but i did not remit any money from india! can i directly tell the bank these? and what is your opinion?