Forex trading in India
@yogesh2012surana (17)
India
August 17, 2012 12:37pm CST
Can anyone please guide me on trading forex in India?
Who are the authorised brokers? What are the brokerage?
And most importantly where can I study about forex?
3 responses
@monasharma (967)
• India
17 Aug 12
Hi freind,
You can do it online...Just join the site ans they provide all the things there...You have to know about the trading...And its risky also..So plz think of it before doing it...Smile..
@MIMO_Rulz_111 (2074)
• India
18 Aug 12
Mona, it is not that simple. Individuals are not openly allowed to trade online. There are several guidelines. If found violating one, say FEMA rules, it will be classified as a cognizable offense and hence non-bailable. For greater understanding check this: http://www.indianexpress.com/news/rbi-warns-against-illegal-forex-trading-on-internet/774148/
@MIMO_Rulz_111 (2074)
• India
18 Aug 12
It's my firm believe that you know much more about trading than me. I don't know if I can help you with much. But I'd like to highlight some points:-
1. There are several registered Forex traders like, Angel Broking, SMC broker, etc.
2. RBI allows an Indian resident to exchange upto $200,000.
3. There is no restriction as to the number of exchanges.
4. Remittance towards foreign exchange trade through internet trading portals is a violation of FEMA guidelines. Thus, trade under stock exchanges recognized by SEBI.
5. FEMA does not permits a resident to trade in foreign trade. But an investor can utilize the $200,000 allowance, as he is not answerable to it.
For greater understanding, please check this: http://forextradehalt.com/is-forex-trading-in-india-illegal/
For a better discussion, please visit here: http://www.traderji.com/forex/15091-attention-forex-trading-illegal-india.html
My personal suggestion is to have a talk with Forex registered brokers. Good luck!
@narnia007 (1050)
• India
27 Aug 12
There are several Forex platforms for Indians to use like etorro etc.These platforms gives you all the necessary tools and services to trade and earn money.A small amount of money will be taken by them during each trade.This goes by the name of pips.All the tips and strategies regarding Forex trading can be accessed at babyforexpips.com.Before you enter into trading,make sure you learn everything about Forex and you practice a demo account for at-least 4 months.Happy mylotting.
