And all the transactions which have been declared non-permissible under fema are also not allowed. The reason for sharing this information with you all is, in future you may be under such trap. So we are directly member of that. The profits you earn is in Dollars and the returns ranges from 8 to 95 within a month. Market Investor New Orkut Discussion forum.
Is, forex trading legal in, india?
Company Executive -Hello sir, I am Shilpa here. Free dollars usage means that they are not allowed to convert the Indian currency to dollars and then use those converted dollars for trading. Company Executive -no it is legal. RBI also published a circular that reported certain agents who contacted the traders and urged them to invest in forex trading to earn huge profits. The reason being it brings high returns to them but at high charges-the imprisonment charges. So with these two positions you are net long on euro and net short on USD. Basavaraj -Let us discuss first the regulatory issue. Or in future my transactions?
Usdinr, eurinr, gbpinr and jpyinr. RBI Report Overseas forex trading through electronic / internet trading portals 17th Nov 2011, rBI Advisory on Overseas Forex Trading through Electronic / Internet Trading Portals 21st Feb 2011, disclaimer : If you are doing forex trading. Evidences of the Issue of illegality of Forex Trading, thisis a confirmed finding based on a news report published. Nifty and Bank Nifty 90 min charts turned to buy mode today with supports coming around 528 respectively. RBI, the body which regulates the financial implications and proceeds of the nation, has a different definition where Forex Trad. Bank Nifty Futures Trade Preparation for 24th Apr 2017. Basavaraj -so you are claiming to be no one will regulate and according to the law of land this is not legal right?
Forex, trading in, india - Legal or Illegal - A Critical Analysis
Tomorrow even if the comments about forex trading in india Harvest is not there bappebti will give you 2 options like to continue the trading with other broker or you can withdraw the whole amount. Moreovermost of the trading done trough theseinternet portals had a very huge leverage. Few days back I received a message from a company representative on Facebook, forcing me to offer the international business opportunity called forex trading to my client. And then the accounts to which the money was being paid were of the same agent but they were opened in many different banks. So who regulate you people? Currently these four currency pairs are available for trading, But there is a trick by which big traders are trading. Forget about the Indonesia or other countries, I am living in India and let us discuss who bonds these transactions? I will be looking forward for your reply sir! The individual traders at India have also been warned by the RBI against the online trading portals which offer these alluring outcomesof high gains but do not reveal to the traders that they are trapping themselves in an illegal activity considered by their state. By using standard currency pairs you can create exposure into major currency pairs.
Forex, trading in, india?
Company Executive-, as of now such things have not happened. The best trading software fo i have attended a lot of seminars, read counless comments about forex trading in india books on forex trading and it all cost me thousands of dollars. So thought to share this information and making you aware about what actually are Indian regulations about this Forex Trading. Basavaraj -I need Indian regulator not Jakarta or any other unregulated country source. . Are so can you provide the proof? To me money management is important in trading. In addition he/she would also be considered liable for violations of the KYC policy and money laundering standards. Basavaraj -Jakarta is okbut money is going to be invested from India.
Today RBI had announced in its circular that forex Remittance limit for Residential individuals has been reduced from USD 200,000 to USD 75,000 per financial year with immediate effect. Basavaraj -Oh is it? So ultimately you will come under regulatory. And on the daily charts Bank nifty futures. Nifty and Bank Nifty 90 min charts for Trading. I dont know this that RBI and sebi will come under bappebti? Sir in India whatever traded you take, when you punch the order it goes to Bombay stock exchange and you need not to go to Bombay to trade. In India, Foreign Exchange or Forex trading is not allowed. Resident Indians can trade in currency through various Indian financial institutions today However, currently the resident Indians cannot trade in currency pairs not involving the Indian Rupee, (like the USD/GBP) with any scheduled bank or such other agency falling. Basavaraj this CFD legal? We are trading under the instructions of bappebti (ITS like sebi in India). In fact RBI and sebi have to report to bappebti.
What Is, forex, trading How to trade forex in, india?
Therefore the RBI issued a special instruction to the commercial banks of the country to be very careful in sorting out such accounts. Moreover they are conditioned to stick to a leverage of less than ten times. Basavaraj -I am not asking the documentation. But margin trading in overseas is suppose to be illegal as per RBI regulation guidelines. She claimed returns ranges from 8 to 95 within a month. Finallyno answer from opposite side Below are a few links which make sure that the forex trading in India not involving Indian Rupee is illegal. We are registered in India, we have physical offices in Bangalore, whatever queries you have can consult here only. If you are serious about trading you need to address your weakness and try to fix. As per the report the author narrated that the illegal nature of forex trading has been confirmed by five private sector and public sector banks.
Company Executive-, we are nothing to do with the Indian market, we are in International market, so we need not to report to sebi. Under whose regulation you do this trading? But I have doubt about the above-said company, from whose representative I got a call is from Bangalore and how they are so openly offering without fear of regulations. These transactions also include any transactions related to foreign currency, remittances marginal trading or exchanges. This trick is known as creating exotic currency pairs.e. I opened another account and start to trade profitably after i learnt from my past mistake. In year 2011, RBI has come up with a clear notice that, Indians are not allowed to trade in International Forex OTC (over the counter) market (you can read it on the website of RBI). Finally i found that the main problem i have was i did not have the right mental in trading. Also what guarantee you provide that nothing will happen in future if not happened in the past. Basavaraj -oh surelet us start now, company Executive-, can you please send me your contact number so that I can call you up and explain the overall picture of ABC.
Under which regulation this trading will be performed? Currently, the currency pairs available for Forex trading across the world, are marked against the INR in India. RBI Reduced Remittance limit from USD 200,000 to USD 75,000. When the global Forex trading is dominated by the USD, occupying more than 87 of the net trade practices, Forex trading is not much profitable for Indian investors. Weekly timeframe is balancing for the last three months. So if you are trading with Indian Brokers whom have membership with the above mentioned Indian Exchanges it is perfectly legal. Forex Trading and Corporations, the reports issued by the banks on this evidences also said that only corporations are allowed to trade but the conditionality for the corporations is to use only free dollars from their reserves. Where as your position in INR will be neutral as you are both long and short. RBI has given permission that Resident Individuals to freely remit up to USD 200,000 per(now it is revised to75,000) calendar year for acquiring and hold immovable property, to invest in stocks, shares, exchange traded funds, debt instruments, stock options and index options outside India. And you are claiming that you have an office in India. RBI revelations of additional findings and ac tion against fraudulent agents.