Quali sono alcune precauzioni con il Foreign Exchange Management Act, India quando si guadagna con il Forex in India?
What is the punishment for forex trading in India?
Hi, there is no punishment for doing forex trading in india. There is punishment for misusing USDOLLERS from RBI Reserves ( if you think you deposit USDOLLERS from your INR bank account, RBI have to pay USDOLLERS behalf of you) and also It is our responsibility to save our foreign reserves.
Is forex trading illegal in India?
Is Forex Trading In India Legal? It is a settled fact that no Indian citizen, as guided by SEBI and regulated by RBI in order to minimize risk incumbent in it, can undertake forex trading inside the Indian Territory through any electronic or online forex trading platform under any circumstances.
When was the Foreign Exchange Management Act launched?
1999
FEMA (Foreign Exchange Management Act) was introduced in the year 1999 to replace an earlier act FERA (Foreign Exchange Regulation Act).
Which forex pairs are legal in India?
According to reports, and as previously mentioned, only the following currency pairs can be traded in India: INR/USD, INR/GBP, INR/JPY, INR/EUR, EUR/USD, GBP/USD and JPY/USD.
How can I legally trade forex in India?
In India, however, forex trading platforms are banned. While you cannot directly trade in the foreign exchange market, you can still trade in currencies through the stock exchange. Under the Foreign Exchange Management Act (FEMA), binary trading is not allowed.
How can I legally start forex trading in India?
To make your first forex trade, you have to firstly open the currency trading account. You have to fulfil the broker’s KYC requirement for this. You will have to deposit a margin amount, which is the deposit amount that the broker holds while your forex trade remains open.
Which forex broker is regulated in India?
SEBI stands for Securities and Exchange Board for India (SEBI) which regulates companies and the shares held by them. SEBI is also responsible for issuing licenses to forex brokers.
Indian Forex Brokers Detailed Comparison.
| Forex Broker Name | Minimum Initial Deposit | Bonus |
|---|---|---|
| FXTM | ₹725.59 | ₹2176.77 |
| FBS | ₹72.56 | 100% |
Is MetaTrader legal in India?
Forex trading in India is illegal where there is no involvement of Indian Rupee. You can trade with involvement of Indian Rupees like USDINR, EURINR, GBPINR or JPYINR. The reason for sharing this information with you all is, in future you may be under such trap.
Who is the best forex broker in India?
Best Forex Brokers India
- IG – Best overall broker, most trusted.
- Saxo Bank – Best web-based trading platform.
- Interactive Brokers – Great overall, best for professionals.
- FOREX.com – Excellent all-round offering.
- AvaTrade – Great for beginners and copy trading.
- Admiral Markets – Great for MetaTrader.
Is Olymp trade legal in India?
Is Olymp Trade safe in India? Yes! When answering these questions, the best thing you can do is answer straight upfront and then give all the extra information that will make your answer complete.
How can I trade forex in India legally Quora?
Hello, Yes the Forex trading is legal in India only if you do it with registered Indian Forex Brokers. It will be called legal only if the base currency is Indian Rupee.
Which app is best for forex trading in India?
Best Forex App in India – Find the List of Top 10 Forex Trading Apps
| Rank | Best Forex Apps |
|---|---|
| 1 | IQ Option App |
| 2 | XM App |
| 3 | iForex App |
| 4 | Alpari App |
Which forex broker is the best?
Best Forex Brokers
- CMC Markets: Best Overall Forex Broker and Best for Range of Offerings.
- London Capital Group (LCG): Best Forex Broker for Beginners.
- Saxo Capital Markets: Best Forex Broker for Advanced Traders.
- XTB Online Trading: Best Forex Broker for Low Costs.
- IG: Best Forex Broker for U.S. Traders.
Is forex trading profitable in India?
Currency trading participants comprise banks, corporations, central banks (like RBI in India), investment management firms, hedge funds, retail forex brokers, and investors like you. Forex trading is a legitimate way to make a profit.
Which is better Indian stock market or forex?
Usually, short-term traders with limited funds and higher risk appetite prefer forex trading. But for those who are new to trading and are looking for more stable returns over a higher duration of time, stock market may be a better option.
How much do Indian forex traders earn?
Forex Trader salary in India ranges between ₹ 1.8 Lakhs to ₹ 36.6 Lakhs with an average annual salary of ₹ 5.0 Lakhs. Salary estimates are based on 36 salaries received from Forex Traders.