We should be returning by September 2013. I would say brokers like FXCM, City Credit Capital, Gain FX who are listed companies or about to be listed and offer correct pricing that is transparent. No slippages and no trading against clients. Yes Binary Option in India is undoubtfully illegal. Unless they are not regulated by Indian Regulators/RBI trading in such segments are always considered as illegal.
- My friend was lured for forex trading in Dec 2013 and directly submitted money through moneybookers using his banks credit card.
- It also only allows one free withdrawal per month (click here for more details on Admirals’ deposits and withdrawals).
- Yes there is a way to withdraw from forex with which rbi can not catch you at all and i do not invest my own money in forex , i just trade with the bonus money…..
- Forex trading to be fortune to us in this generation.
- Any idea about NRI’s to trade in forex ?
With this sequence of process be illegal? We can debate on point #5 on me trading online but let’s keep that aside for a while. My trading profits come to their account in their country. Incorrect information in the opening paragraph. RBI does not disallow forex trading itself – there is no such rule. Yeh it is kind of illegal money routing.
Generally, it is better to be at your desktop to conduct day-to-day trading and use a mobile device to keep an eye on the markets or close open positions. I think you have not heard about proprietary trading firms. I agree forex trading is illegal but one can trade in stocks/commodities of usa/ uk through proprietary trading firms established in india because in that case we are not using our own capital. Now we will bele to trade some of major forex pairs in indian exchange as RBI allowed trading of eurusd, gbpusd , usdjpy pairs .
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If RBI or the Indian Government think forex trading is illegal they would have stopped it appearing and accessible from India by blocking those sites in just one second. I gave up trading in forex as it was illegal. I lost https://1investing.in/ all my deposit with iForex and whotrades where I did very well in Demo but lost all my deposit in live trading. When it is time to refund money to public, all of a sudden govt, comes into action and bans these companies.
And those who have limited capital can make use of it. If no one trades, there will be no liquidity in the market. And where will even RBI do its own Foreign Exchange. If not the few officials who involve in stopping it for personal gains will be thrown off eventually either by the government or by the supreme court or by the people of India. If you want to trade USD INR / EUR INR / GDP / INR you can legally do it in brokarage firms like Kotak Securities and many others. You are bound to lose or make money based on your skill level.
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They have opened offices in indian cities which includes chennai, bangalore, mumbai, delhi. I just asked, is it legal or illegal doing forex trading here in india. Trading will be illegal if you are trading in any margin segment outside india. Only few brokers are allowing people to invest in foriegn stocks and that too limited to Stocks only but not in margin trading segments.
Becoz account opened in Nigeria and Traded In Nigeria but KYC is in My INDIAN Address….Please let me know. But RBI says “you should not use Indian Rupee to trade in forex”. The other side of the scrutiny is going to be so wrong! It doesnt matter whether you are receiving funds from listed company or a non listed company. Can I trade EUR/INR and USD/INR pair using alpari trader in india with peace of mind or there is some problem with this also. Request to point me to some data where I can very the same.
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Only those who comes under scrutiny check suffers a lot. With such a huge leverage x100, x200, x400 times your loosing probability is very high. Even $500 or $1000 also not enough to trade such a huge leverage. 1)India is still a POOR country…and RBI can not afford to lose money or transfer money to richer.
Admiral Markets is a competent Forex trading company that has years of experience behind it. Ideal for any kind of trader, be that a pro or a rookie. The company is open from Monday to Friday at the regular office times. However, you can trade Cryptocurrencies in the weekends as well.
As you change the trading platform, you will find changes in financial news feed. So, preferably traders choose the platform which can be customized according to their needs. Also, it is always convenient when your trades are automated so that you never miss any opportunity of earning. They fund my forex trading account from middle east/S’pore/US/UK. Just providing our service as fund manager to our foreign Clients.
Hi friends i have found a legal way to trade forex ………its legal….. Note that using torrent is not illegal . Torrent is a just a software which helps in downloading things . If you download legal things then you can use torrent openly in any country of the world . But if you download illegal things then problem pops up . Read torrentfreak.com for news of the torrent world .
The first step is to make sure that the broker chosen is licensed. Luckily, you can skip that as all the companies from our list are officially certified. I was thinking about the market and what is potentially behind this stupid rally, and at heart, this seems like nothing more than an oversold bounce, given a lot of bond market dislocation…
Service group determines the level of competitiveness of a brokerage organization, taking into account the company’s influence on other market players. Based on the results of the analysis, the list of the Best Forex Trading Apps for 2022 was compiled and published on the Traders Union website. The brokers with the most beneficial conditions and the highest level of customer service lead the rating. Admirals market research materials are comprehensive and well-structured, and compare well to other large international brokers. The risk management section covers best practices, an introduction to leverage and leverage effect, and how rapidly moving markets can create gaps in charts.
But I don’t think that RBI will even let anyone go if they give proper taxes . I think all of us discussing here are ready to give taxes , but not want to be sued by RBI . So I think the problem that is holding us behind is not tax , but the fear that RBI can sue us and it is clearly declared in RBI website that under FEMA Act of 2011 , Forex trading is illegal . So, if you think Forex trading works for you than go for it. Its perfectly legal as long as you have the access to do it legally with legitimate payment processes both in and out of your bank account. Simply, because it is just not possible to claim any guarantee in online trading, whether you are trading forex, stocks or commodities.
If u will guide ppl here in that thing only this disccussion will be over and ppl will come to know a way of depositing and withdrawing the money without being caught by the rbi. Even if the broker is genuine trading with such brokers are considered as illegal. Alpari had opened their india few years back. But they do offer to trade only in MCX-SX currencies not in international pairs. I earn online, invest with an online forex broker and so does it go on.
6) You can use a similar method like this to get a freelancer job. In this method you will find a foreigner who will post fake freelancer jobs on freelancing sites. The foreigner will always select you to do the job. The foreigner will pay you to do the job. Actually you have to give the foreigner in advance the job fee .
Admirals charges 1% for deposits for currencies that are different to those supported by the broker, and only allows five free ewallet deposits per 24 hours. It also only allows one free withdrawal per month (click here for more details on Admirals’ deposits and withdrawals). In addition, Admirals charges a currency conversion fee of 0.3%, which is higher than other similar brokers. Admirals is unusual amongst brokers in that it offers four different account types, with trading conditions that vary depending on the platform chosen.
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The RBI rules do not apply to us (I’m an NRI as well). However, you will have to shut shop when you become a resident of India again. Read the new RBI Rules on forex legality. Dont get your accounts/credit card get banned by involving in such actions.
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And you can’t take license for a foreign company in India, you can take license only for Indian broking business. An analysis of stocks based on price performance, financials, the Piotroski score and shareholding. Find out how a company stacks up against peers and within the sector. Since 2010, the Orbex brokerage has been offering its services.
I am a NRI working in gulf for the past 4 years. Now for the past 3 years i am doing forex trading with a cyprus broker. Being an NRI, i was allowed to do forex trade. I had been using my gulf credit card to deposit forex.