Indian Forex Traders Forum

prasanna316

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The forum is being created for interaction among the Indian Forex tarders, as they face lots of problem regarding broker choice, legal issues etc. The forum members will help each other in finding out the solution.
 
The forum is being created for interaction among the Indian Forex tarders, as they face lots of problem regarding broker choice, legal issues etc. The forum members will help each other in finding out the solution.

Hi Prasanna,

Great initiative!

Not sure if you are still around, but if you are then can you share details like which broker do you use and how do you handle the forex illegality issue in India.

For me, I have been demoing with a broker for past few months and really have not got a way around to trade global forex markets :-(
I do have a few friends and relatives in US who can deposit the margin money but I am afraid that getting back the profits (If any generated :p) might be a problem plus the tax issues. In short not too sure about a way through all this.

You seem to be an experienced trader, can you help me here? Also is forex consulting illegal too ? What if I manage my friends' account (NRIs) as a consultant or will that be illegal too?

Would really appreciate your input :)

Other senior members might chime in too :)

<b>AsstModerator Note: Broker name removed. The Community Forums area tries to limit postings that might be considered to be endorsements of companies.</b>
 
Last edited by a moderator:
Hi Prasanna,

Great initiative!

Not sure if you are still around, but if you are then can you share details like which broker do you use and how do you handle the forex illegality issue in India.

For me, I have been demoing with a broker for past few months and really have not got a way around to trade global forex markets :-(
I do have a few friends and relatives in US who can deposit the margin money but I am afraid that getting back the profits (If any generated :p) might be a problem plus the tax issues. In short not too sure about a way through all this.

You seem to be an experienced trader, can you help me here? Also is forex consulting illegal too ? What if I manage my friends' account (NRIs) as a consultant or will that be illegal too?

Would really appreciate your input :)

Other senior members might chime in too :)

<b>AsstModerator Note: Broker name removed. The Community Forums area tries to limit postings that might be considered to be endorsements of companies.</b>

Dear Bulbuli,

Trading apart from INR pairs is strictly illegal for Indians, you can trade with any broker who offer pairs with INR, for example USD-INR, Eur-Inr and so on with INR.
 
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