@Ram Thank you for your contribution. Seems to clarify many aspects of Forex trading. By the way, who are you? Someone from the RBI? Their knowledge seems enormous. The purpose of the Forex market is to determine the value of the currency at which an international transaction is calculated. This protects the party from a rapid loss of value of the foreign currency. The unpredictability of the foreign exchange market provides good reasons for speculation. Although hedging appears to be an institutional strategy to deal with currency risk, retailers benefit the most from speculative currency trading. Forex trading in India is legal. However, the scope of forex trading in the country is limited due to strict regulatory restrictions.
Traders are only allowed to trade currencies with regulated brokers. With the exception of three cross currency pairs, traders cannot trade a currency pair that does not involve the Indian rupee. The trasaction was only $100. He hasn`t traded foreign currency since January 2014, as he discovered it was illegal in India. Please let me know what actions you can take against him and what options he has against those actions? What does the bank have to answer? And what kind of punishment can he face? Can you please tell me whether binary options trading in India is valid or not? If I use my credit card, is there a problem with the withdrawal? Hello, I started using Forex at the end of 2012 and when I read this blog, I became vigilant and decided to stop Forex trading. I`ve been reading this blog for over two weeks now… And during this time, I searched the net a lot. Like me, many have doubts and wonder why??? Is Forex trading illegal in India? And IF someone did that, what is a punishment. The reasons are: POLITICAL____ 1) The Indian government and politicians do not want Indians to be international actors and make them rich, namely a part-time job. (2) Government of India.
will not benefit. As in the stock market, you make profits or losses from the government. get their share. 3) This will expose politicians` black money as the INR market becomes more widely exposed to the international market. 4) More people want to get involved in Forex than in trading Indian stocks or complexes. ECONOMICAL____ 1) India is still a poor country. and the RBI cannot afford to lose money (INR) or transfer money to the wealthiest. 2) The exit of the INR will result in a loss of the value of the INR, so the USD, EUR and other currencies will become strong in the domestic market. For example, the inflow or FDI (which you may be familiar with) of foreign currency leads to a strength of INR. PUNISHMENT___Forex trading is 100% illegal in India by any kind or manipulation, even by foreign account, if someone finds Forex trading under FEMA Act, 1999, they could go to jail, and the crime is not releaseable.
It seems that the RBI has no problem if the participants have an account with Tradenext. I believe that trading is then possible for Indian clients and INR is a very acceptable currency for trading. It is part of the margin trading segment. Anything in the overseas margin trading segment is illegal for Indians. However, you can invest in stock markets, but you cannot trade. For more information on how to invest in foreign markets, click here. Hello, I have a question. I have forex trading accounts with various forex brokers. I joined these sites in December 2011. However, I stopped trading Forex almost 6 months ago.
I have never used my credit card to make a deposit (Via PayPal / Moneybookers / Payza etc.). I bought dollars from local interchanges. Is it now possible to close all these accounts? Can I ask my broker to close my account and remove my proof of identity from their server? I am an Indian working in Nigeria and I had invested in Instaforex and given it to my friend in Nigeria for trading and I earn $2500 per month via BITCOIN. Can you explain if this is right for you???? because the account was opened in Nigeria and exchanged in Nigeria, but KYC is in My INDIAN Address… Please let me know. The trader must then download the Forex trading platform to his computer or smartphone. Take the time to customize the look and feel of the platform to maximize Forex trading opportunities. According to Investopedia, brokers are the companies that provide traders with access to a global forum that allows them to buy and sell foreign currencies. Trading in this market always takes place between a pair of two different currencies, which means that Forex traders buy or sell the particular pair they wish to trade.