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Forex trading is illegal in India?

  • #21
  • Mar 3, 2016 4:17am Mar 3, 2016 4:17am
Quoting gaurav.132
i hope this news will bring smile to all currency traders who have quit trading forex just because its illegal in india and many who are still trading in forex with offshore brokers because RESERVE BANK OF INDIA allowed EURUSD , GBPUSD , USDJPY in indian exchange . https://www.rbi.org.in/Scripts/BS_Pr...spx?prid=35689

thank you gaurav...i also saw that notification...but which brokers are offering forex trade of eur/usd, gbp/usd, usd/jpy in india? icicidirect, motilal oswal, sharekhan, kotak etc?
  • #22
  • Mar 29, 2016 12:07pm Mar 29, 2016 12:07pm
now this legel
Inserted Video
  • #23
  • Mar 31, 2016 12:11am Mar 31, 2016 12:11am
Reserve Bank of India is short of dollar denominators so they don't allow trading majors. You can trade 4 INR denominated instruments (USDINR, EURINR, JPYINR, and GBPINR I believe). Since most forex traders lose money, the RBI could increase their dollar deficit with too many Indians losing money.

Just use a foreign broker and chances are you'll be fine. Especially if withdrawls appear as like "blah blah blah capital" instead of "epic fx forex foreign exchanges" otherwise bank could freeze your account.

Disclaimer:
Forex markets are risky. I don't condone breaking any laws in your respective jurisdiction. Blah blah blah. Etc.
Holy grail: risk management
  • #24
  • Mar 31, 2016 12:12am Mar 31, 2016 12:12am
What about FX derivatives? Look into those, I doubt they would be regulated the same way as spot in India.
Holy grail: risk management
  • #26
  • Edited Feb 15, 2017 1:39pm May 15, 2016 2:23am | Edited Feb 15, 2017 1:39pm
hey guys , I am residing in UAE and I have account with two Forex brokerer . If any body want to know more what's app 00961551667451 or Skype: { email address deleted by staff }
  • #27
  • Mar 9, 2022 7:21am Mar 9, 2022 7:21am
Koi hai jo abhi bhi active hai yaha?

Anyone from India?
  • #28
  • Mar 10, 2022 12:08am Mar 10, 2022 12:08am
My understanding is that if the transfer uses digital currency it should be fine。
  • #29
  • Apr 25, 2022 1:27pm Apr 25, 2022 1:27pm
I believe it is possible.
Especially in the era of cryptocurrencies and a wide choice of brokers.
  • #30
  • Last Post: Apr 25, 2022 3:25pm Apr 25, 2022 3:25pm
There's no law in India which says forex trading is illegal, the problem is Raju and Laxmi chit fund
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