Forex Advisory and Treasury Outsourcing
Which forex travel card is best for traveling to the UK? I am travelling to Thailand from India. Related Questions Which is better for travel in Europe, an international debit card, a forex card, or a travel card? Save your draft before refreshing this page.
Lowest Currency Exchange Rates in India
With the free home delivery of forex, you can save precious time before you fly. Pay for your forex using the payment option of your choice. Block exchange rates for 24 hours: Ease for frequent travellers: Simply upload your documents once and save time on future forex transactions. Please enter your mobile no. Continue as Guest No need of password with this option.
Your account is registered but not verified. Also can be used for E Commerce transactions. ATM withdrawals are not allowed. No multiple requests will be entertained. Fats On Time Payouts — Getting paid your entire withdrawals not only via a method you find convenient but also in a timely fashion is another thing all US based Forex traders should be demanding.
Multiple Trading Opportunities — You should never restrict yourself in regards to the number of Forex related trading opportunities you can place at any one single Broker. Just keep in mind that some Brokers only offer a limited range of different trading opportunities and currency pairings and as such they are the Brokers you should avoid.
The Indian Rupee is the official currency and the legal tender of the country, and it is illegal for Indian citizens to transact in any other currencies while they are in India. So if you are trading with Indian Brokers whom have membership with the above mentioned Indian Exchanges it is perfectly legal. But still there are all the other option like bullion, base metals, energy, NSE and BSE to trade and earn high-end profit under the supervision of the advisory firms like mcxtips.
The reports and tips are generated through a fundamental and technical analysis for high accuracy rate and tips. Open the account in name of your friend and start trading. If you have enough experience, you can participate in any contest offered by international brokers or you can use welcome bonus from brokers only few brokers provide this service. If you win in any contest you will get money from them which is not yours , I mean you did not put money from your pocket, and its brokers money you have not made any transaction.
So you are done with first problem deposit. And now you are not withdrawing your money to your bank account and also you can make online purchases with that card. If you want to buy things from outside you can transfer money to online wallets like Skrill, netteler. Forex trading is a global business and you can easily do this from any part of the world including India. Yes Forex trading is being done with a Forex broker which will help you in understanding the markets with the Technical Analysis and also give you market news data in the form of Economic calendar.
Start trading with a Demo account now. Rbi has allowed forex …trading but you cannot trade in all type of currency pairs.. You can trade currencies which are benchmarked against INR, it means you can trade only currencies that have pairing with INR. India is a developing nation, and the largest fiscal deficit also. IF you trade any other currency pair other than INR being one of them and you lose money, then you would buy the other currency from RBI to settle your shortfall.
This will create more deficit and RBI is not in a position to afford that. Anyways we have low volume in our tradable INR currency pairs, so if we allow trading in other currencies, it will result in more volume reduction. There are 4 such combines accessible to exchange. There is no limitation on the recurrence of trade in a budgetary year. This page may be out of date. Save your draft before refreshing this page. Submit any pending changes before refreshing this page.
Ask New Question Sign In. Why is forex trading illegal in India? How can I legally start forex trading in India? How is forex trading in India? Is it illegal in India? Are there better brokers in India for Forex? It is illegal in India. Answered Jun 24, There are many online brokers who misguide retail investors claiming forex spot trading can be performed legally via them, however it is not true.
It is generally to prevent retail investors from losing big time this is what RBI claims! But in my opinion it is just to prevent currency outflow this is my personal opinion. Certain points worth considering regarding forex are: Forex market is very volatile and without proper study, forex trading can be suicidal. Online forex brokers provide very high leverage, which can wash out your account very soon if you do not have proper technical expertise.
Such trades do not happen on a central exchange, they happen Over the counter OTC and so are not very well regulated. So if at all you plan to trade forex, you should perform your Due Diligence and select a highly trustworthy broker to protect your hard earned money.
Thank you for your feedback! Answered Aug 10, Answered Dec 25, The speculators are always to blame for inflation and the accompanying rise in prices. This history goes back thousands of years. In ancient times, whenever a kingdom had more debts than gold the King would recall all coins in the kingdom. This is why many coins today have ridges around their edges. Even though almost all coins lack any metal content.
When Oil prices were rising it was the speculators who caused the problem. When metals prices were rising it was the speculators who were responsible. Forex trading is illegal in about twenty countries.
These countries all create the propaganda that a free market that determines the value of a currency is a thing to be feared and chastised because it hurts the citizenry. In other words, the government is the greatest determiner of value in the universe and anyone who disagrees with that premise should be imprisoned, shamed and humiliated for having the gall to think for themselves.
Answered Oct 12, Its illegal because so far RBI restricted to trade in any kind of overseas margin trading segment. You can invest elsewere in the overseas segment except margin trading. The same kind of restriction is there in developed markets like United States, Canada too.
Answered Jan 29, Hi there, Forex trading is legal as long as the currency pair is INR. Frequently Asked Questions Further, the most important thing you need to understand about forex trading platforms is that they are modern day bucket shops. Updated Mar 24, According to FEMA ACT Under Regulation And Management Of Foreign Exchange "A person resident in India may hold, own, transfer or invest in foreign currency, foreign security or any immovable property situated outside India if such currency, security or property was acquired, held or owned by such person when he was resident outside India or inherited from a person who was resident outside India"… https: It is illegal mainly as Indian currency is not fully floated yet.
Although ads are there, it's better to not get tempted by them as it'll be an offense against the existing Indian laws. Ultimately, you've to earn money only, why OTC markets In India, it is quoted in INR.
Currency Traders gradually are moving out of OTC markets and getting in to regulated exchanges. The only downside is leverage or exposure but every trader understands that leverage is a double edged sword.
Most of the OTC traders lost money in history. Answered Jan 17, Foreign citizen live in india like nepal ,Bhatan ,Bangladesh ,Usa ,Uk Etc are allowed to trade forex in india. Hope whatever I write useful for many traders. Quora User , studied at Class 12th in India. Answered Aug 31,