Vipul-Place where trading takes place are the countries which have loose law against money laundering. These countries make propaganda for the citizens to stay away from the forex trading whether it may be online or offline.
Trade in Rs 20, No more % brokerage
Nobody had nowhere specified it. They all are saying that they do not allow Margin or Margin Call. There is much confusion about legality of Forex Trading in India. But when the above referred big companies have started Forex Trading in India. Does RBI cannot see what is going on? Do anybody have any answer about this confusion? What is the conclusion, one suppose to have? Is it legal or illegal?: In Plain simple words its still illegal!!! Often you'd see some of these countries painting the picture for the west as evil.
With many online brokers who misguide retail investors claiming forex trading performed legally through them. However, many India citizens believe that the main reason is to stop the currency outflow. I meanwhile, believe that RBI will ease in their limits in the coming period as India is going through the financial change. Amandeep Sonewane 28 September Kristina Frunze 28 September Price is what you pay — value is what you get!
Trading signals Technical analysis Fundamental analysis. Trading tools and indicators Forex webinars. Events Services Contact us. Edit Profile Add a publication. Amandeep Sonewane 13 December Forex Trading in India If you are an Indian resident and wish to trade forex, you cannot trade all the instruments as mentioned above. Helena Sudan Syria Ukraine Zimbabwe. Share this story with your network. List of Forex trading restricted countries are the following: Animesh-Many laws can play the roles and skew you.
Rest left with you. Dear All I want to inform you that 2 years ago I started trading in 4xp. Sir how trading start in forex our country not allow so pls authorised broker in India so iam start trading in forex reply me.
Hello sir, My question is if some one is using skrill or paypal to indirectly transfering money back and forth for binary trading in trusted broker, How can the bank is suppose to know from where the money is comming. There is no possible way skrill will leak info that it was forex money and they ask us we simply can say it from the services i provided from freelancing ,blog, affiliating etc. But sir you can help us for right broker because you have lots of skills you can compair brokers policeys help us Sir.!
You are not broker but you already helping us for aweaness of forex scam..! How is this done? Is it legal and is it regulated. Is it present in our system even illegally? SIX Capital is providing training of Forex trading and after training they will select for trading as a trader.
My question to you is that should I quit this training or question them regarding this issue. Sumit-Please question the issues of what I said above.
Let them show the SEBI registration. Otherwise, you inform them that you first write a letter to SEBI about their company. If SEBI have no issues, then you will go ahead. That too check with SEBI portal.
If he is registered with SEBI, then legal. Get ready if you need that cash back. I hope you got my point about legality of such platforms. Can i convicted of any charges for investing? The company made me sign a couple of forms which made them free of any liability i suppose.
Purvi-This is what they do. They take signature and we blindly sign on those papers. You will not be convicted, but if the amount of cash you lost is MORE to you, then I suggest you to take the legal step immediately. I will send money to my friend India account. Open forex account in my friend name and he will fund the account from his foreign account. Withdraw profit to his foreign account. Transfer money to my India account. Then pay income tax on this amount in India stating as other business income like freelancing, consulting etc or as GIFT.
Sanjay-First try to find a friend who is ready to help you in this illegal act. If he can join you. Hi is there any legal platform for trading forex in India if not shall i quit forex because i am new to trading thinking to earn some decent money. Just received a message about a fantastic Opportunity for Investors in Forex Trading: Max 50 lacs investment. For 50 Lacs investor gets 80 lacs after 20 days.
Profit of 30 lacs. Kalpana-It is still illegal. Then why he is begging you to invest? Simply understand the basics of investment rules-1 Anything illegal is always dangerous and may leads to lost in your principal too.
I am a Mechanical Engineer with over 20 yrs of exp. I want to change my career and planning to persue a career in finance by doing CFP. How is the scope and job prospects for a CFP professional in India? Please give me your frank opinion. At the same time, I am not downing you for not pursuing the CFP. Opportunities are best but CFP is just a door to learn personal finance.
Also, considering the dynamic nature of knowledge, regulatory issues, you must opt the ways very sensibly. Check for the company registration with SEBI and also follow above rules. What if the traders win contest prize money in forex broker and trade with those money? Are such withdrawals accepted in India because there is no deposit from the traders end. Also one can consider to be signal providers through demo accounts and if they are successfully making money through their signal providing service.
This has no rules to violate. Ashvini-It is still illegal whether the money deposited from trader end or not. Virtual trading is different and there can be any type of underlying asset to trade and there is no such restriction. Thank you for the fast response.
So, providing signal service through demo accounts should serve as analyst job. There are many account managers who manage foreign clients fund and any remittance to India is considered as income which is legal.
The link says investment not specify forex. Hey sir, my sister lives in USA if i deposit money in forex from USA and operate forex trading from india is it legal? Jignesh-How you make sure to come back that money in India? What reasons you say to IT Department or Banker? What will be the tax implications to your sister in USA? Whether you have answers to all these questions?
Sir What is the best alternative of Forex Trading in india with Legality and What is the minimum age for doing it. A Private trader in India is asking for some money for doing some forex stuff. I am not at all in finances and dont know any thing about finance. He is known to my relatives. He does not have any office, he is doing trading from his house. More return means more risk. Vinay-Please refer the links I provided then decide whether RBI is particular about this issue or not. Hi I got a call from svsfx.
They claimed to have a subsidiary company in india which manages their financials which is as per rbi and sebi norms. Intially I thought this is legal I am a bit dumb!! Later on I understood that what they were doing is actually hawala transactions.
They have an account in india and we deposit money in inr which is converted into dollars and the process is same when we have to make a withdrawal. The problem is I opened an account with svsfx. How should I get out of it What will be the consequences if I dont operate the account or if I withdraw the money I deposited and leave the rest? Arjun-Contact the same officials to close it. Also, hope other readers of this post understand now about my opinion that how these companies running their business illegally.
Plz sir tell me many people are trading in forex who lives in India and still no legal action taken by our government why? And tell me can I trade in future currency and bank also involved in foreign transaction and no action taken by them.
Kamal-Whether Govt acted or not is left to it. But here I am putting the legality. Rest is left with you to decide. Arun-If big corrupt ministers breaking law means we too?
Is the Forex trading only way to earn money? Another question is, if i transfer dollar from perfect money to paypal and then to my bank account,is there any problem of indian regulation? Basant-I am not aware that much about Bitcoin legality. Obviously it will be problem if it is illegal money, first your bank itself will ask the source of money. And please suggest what would be safe to tell about source?
Basant-Then they want to know whether the source you said so is proper or not. Sorry, I am not here to break the law and help you.
Instead, I suggest you opt the legal way. Now it is left with you. Your article gives a clear insight about Fx. Do you have any suggestion or insight about about Kumar sayings on March 1, at Ram-1 Why I have to go to foreign for the sake of Forex Trading? But negating the risks involved. This is how the commmon man be in trap and loose money. Trading is too risky. Also, is it necessary to follow other countries blindly? I am a forex trader and I love trading in forex.
I want to tell you.. Best volatility and best volumes. If you do not know technical analysis then trading is gambling for anyone in any market. If you know how to trade then you can make money anywhere but if you want make lot of money then only place is forex.
You think you re an expert in english? Try to answer the questions rather than asking silly questions. Let the readers of the post decide. I have answers for all your questions 1 Forex markets are extremely volatile and have a lot of money making oppurtunites. This is what you know as an expert? You work for hours in office. You risk obesity and diabetes sitting in the same place. Of course,FOrex trading is where money exchanges hands and there is a good chance you can make money from a small investment.
The market cap of Indian equities is simply too small to eradicate such manipulations. Sarath-Volatility is Good or bad? It is not the promoter.
You Know why Rasoya protiens trading at 20 fell to 0. You know why Allied Digital Services trading at fell to 20? You Know why India Bulls Wholesale services fell from 30 to 10? You know why gitanjali jems fell from to 40? You know why C Mahendra Exports fell form to 6? You know why Subex fell from to 6? Promoters are manipulators in all these cases.
Promoters create bullish sentiment for poor retailers to buy. When everybodys in, the promoters dump the stocks creating panic among retailers again. Thats ho they steal the money. Retail traders who dont have enough money to manipulate anything are the losers finally. This is how stock market works. Helena, Sudan, Syria ,Ukraine Zimbabwe. Please try to accept. You as a financial expert should know about these more than me about all these manipulations. Nobody Cares about rupee at all.
Thats the pitiful situation of our country , equities and ever deteriorating rupee.. Sarath-It the lack of knowledge that makes you to invest in such companies which you named.
Also, do you feel there is no manipulation in forex trading?? Those companies were really good before promoters started robbing investors money.
Its not the lack of knowledge. Well,Can you name a few companies with your great knowledge that will give me returns 5 years from now? I am ready to invest. Moreover if I make losses from the names you suggest,will you compensate me for the losses incurred because of your advice. You said I lack Knowledge. Well ,no one can suggest anything. Because RISK is everywhere. Lol,if you invest ,it doesnt matter how the stock moves.
He will lose a lot even if stock moves by a small fraction. Whats the guarantee that stock will always move up after you invest? And coming to your final question. I already told you its not easy to manipulate forex as it is to manipulate a stock.
Simply because huge amount flows in and out. Since it involves huge amount of risk to manipulate forex,even banks are not brave enough to take the risk of manipulating forex,as they appoint qualified traders to trade on their behalf who trade with strict rules.
Not like as you said,invest and forget. The current range should matter to you even if you invest. After a few years your clients will be after you. Sarath-Equity investment meant for 5 years? But it subdue when we invest for long term.
When you invest in cheap stocks or the stocks which recommended by the so-called experts who in turn brokers then there is high possibility that they turn to negative. Look at people who look for value investment. Invest and Forget is not meant for any investment. Sarath i like very much your opinions and comments , i agree your comments regarding this issue..
I am also a trader earning a good amount. Not only me but there are so many traders earning through forex and withdrawing in lacs per month in INDIA, still no problem. Then tell if i do like this and come back to india , and use that money here is it still illegal.
If it is done in a safe way. Many readers of yr blog they say by opening nri account. And etc… Tell me ways i am confused. Pls reply on my email. I am also a forex trader, a signal provider and pool account manager in forex business from last 4 years and able to develop a very big and good forex earning business model where a comman man easily can earn from 10,, INR sitting at home and can improve the life of a comman man or weaker section.
After reading all the points above i would like to mention few points here please and need support —. Forex trading from India is illegal and there is no doubt about it but we want to do it legally from India and its legal way is you can be NRI and use the own account into that particular country where forex trading is legally allowed and can remit your profits into NRE account and can show the concern authority about your earnings and pay taxex accordingly and it is legal because you have used your stored capital for the forex trading there not by remitting funds from India.
You can form a company out side India where forex trading is legally allowed as a subsidiary of your Indian company Indian company will be parent company but this for those who have already own any company in India and remit funds outside to subsidiary company and subsidiary will do forex trading and will revert you the benefits as a dividend and it is legal. Its my view that most of the Indian Political Parties and Leaders except few leaders but may be they do not know about forex trading potential so could not be focused on this talk about the welfare of the people but never think seriously to do for them because if comman man will be financially strong then never will accept their dirty politics so they think that comman man should be always poor and struggler with there problems.
If this business have not good potential and liking with mass then why millions of millions of people attracting towards it. Very small small countries like Mauritius. I think it is the totally matter of intentions and nothing else. Is there not involved risk for the comman man there? I am not a follower of any party but i know the power of aam aadmi comman man its result we have seen in Delhi election so my view is that we should all forex trading lovers should organise and make a common sign letter and give to Shri Narendra Modi sir who is our hourable Prime Minister as he thinks always about comman man and think for the bottom people and when we all shall be together present our interest and concern then we hope that sure he will re think and talk to the concern authorities to do it legally from India.