After you get the payment give some bonus to the foreigner. For example take the case of politikarunet.ru -- this is under one of the world largest banks, Citi group. So you end up losing, SO do take carewe can make money in our stocks and mcx if you are deciplined. The objectives are to issue bank notes and give public adequate supply of the same, to maintain the currency and credit system of the country to utilize it in its best advantage, and to maintain the reserves. My situation is that I have been very successful as a Pro Forex torex. Better rates are possible depending on the city that.
Here is her first guest report over forex trading in india. Hence it is legally a crime to involve in Forex trading and the charges of the crime are imprisonment in jail in this country. The offence is considered immense, the prediction of intensity can be deduced from this fact that it has been labeled to be non-bailable. So if you are trading with Indian Brokers whom have membership with the above mentioned Indian Exchanges it is perfectly legal. And Also it is perfectly legal for Indian Retail traders to invest in overseas equity markets.
But margin trading in overseas is suppose to be illegal as per RBI regulation guidelines. Forex Trading and Corporations The reports issued by the banks on this forex rates india rbi also said that only corporations are allowed to trade but the conditionality for the corporations is to use only free dollars from their reserves. Free dollars usage means that they are not allowed to convert the Indian currency to dollars and then use those converted dollars for trading.
Moreover they are conditioned to stick to a leverage of less than ten times. The reason being it brings high returns to them but at high charges-the imprisonment charges. In forex rates india rbi retrospective many of the individuals became trapped to this illegal dealing. Moreover most of the trading done trough these internet portals had a very huge leverage. And then the accounts to which the money was being paid were of the same agent but they were opened in many forex rates india rbi banks.
Therefore the RBI issued a special instruction to the commercial banks of the country to be very careful in sorting out such accounts. And all the transactions which have been declared non-permissible under FEMA are also not allowed. These transactions also include any transactions related to foreign currency, remittances marginal trading or exchanges. Filed Under: Forex Tagged With: Forex Trading in indiaForex Trading in india is illegalOverseas Forex Trading Rajandran is a Full time trader and founder of Marketcalls, hugely interested in building timing models, algosdiscretionary trading concepts and Trading Sentimental analysis.
He now instructs users all over the world, from experienced traders ,professional traders to individual traders. Rajandran attended college in the Chennai where he earned a BE in Electronics and Communications. Rajandran has a broad understanding of trading softwares like Amibroker, Ninjatrader, Esignal, Metastock, Motivewave, Market Analyst Optuma ,Metatrader,Tradingivew,Python and understands individual needs of traders and investors utilizing a wide range of methodologies.
Back to square one. Trading with nifty these days until a solid confirmation from RBI about the legality of trading in FX markets. An Indian can trade with an International Forex brokers only he stays outside India and the law in that country permits him to do so. Their are two types of Forex brokers one is Market Makers and the other one is ECN Brokers. A market maker gives you better spread and no commit ion but they have a dealing desk which will trade against you.
But for an ECN broker they will charge commit ion and spread but they wont trade against you. Their are regulatory bodies in each country that regulates these brokers for example FINMA for Swiss brokers. So consult with these regulators and take a wise decision. Can we trade in forex currency, If so who is best broker in India for the same. Please help in this regard -- send your details to my id.
I have checked in the internet it is showing trading in foreign currency is illegal as far as RBI FEMA rules. Please let me know…. You can trade margin segments only with Indian Exchanges. Anything with comes under overseas margin trading segment it is illegal for Indians. However you can invest in stock markets but you cannot trade.
More info about how to invest in overseas markets here. Too much offices of such sort are there forex rates india rbi bangalore mumbai etc. They want indians to remain poor and suffering always. Only ministers and politicians should have a filthy rich and lavish lifestyle. It is a damned country to be born in for ordinary folks. If goverment cares so much about Indian people losing money then why do they allow lotteries? But when I submit my withdrawal request to my FX Broker, my account has been disabled by them, and they verbally deny my withdrawal request.
Please suggest me what should I do??? Are these brokers Genuine.? Shall i continue with it or shall i stop trading as people says it is illegal to trade in forex.? Are there any Genuine online Forex brokers.? However it is illegal for Indian Retail traders to trade with those brokers. This will give you clear idea why Forex Trading on International Currencies are illegal as per RBI guidelines.
Presently there are many brokers like Alpari, Angel, CDEqui, NirmalBang are providing ODIN Terminal to Traders. As per RBI policy its legal to trade currency only with Indian Exchanges NSE, BSE, MCX-SX. If not, is it completely illegal?? When comes to scrutiny you are one to suffer. HDFC bank does INR pair only. I earn online, invest with an online forex broker and so does it go on. They want indians to be losers.
Someone kickk indian foreign ministers asss. Now Citibank is closing my account stating that it is illegal and against FEMA rules therefore Citibank is closing the account forever. I never made any money from iForex due to less time and I started that just for learning purpose…. Donno what to do now. Can anyone please help? I face the same issue now. Did you get any help from anyone? If yes, pls help me-thanks. If anyone does take that with the greedthen he is over to follow the hidden agenda of crossing the bonus level.
So you end up losing, SO do take carewe can make money in our stocks and mcx if you are deciplined. DID GANDHIJI EVER COLLECT ANY FUNDS FOR HIS MOVEMENTs THE ANSWER IS NO. These people are trying to make money also I just dont forex rates india rbi where this will conclude. First we has to forex rates india rbi then Country will politikarunet.ru you want to eanr there are many ways need not to play with the currency.
THIS GUY WHO WROTE THIS IS PUTTING PEOPLE OF THE TRACK. MAYBE HE IS DOIN IT AND GETTING BIG MONEY AND DOES NT WANT OTHER S TO DO WELL TOO. TELL ME THEN HOW DO FOREX COMPANIES OPERATE AND DO THE SAME TRADING. These pairs are allowed on many many exchanges such as NSE, politikarunet.ru also allowed by brokers such as ICICI Direct, Sharekhan. Can you please guide me to any online declaration where it is given that Forex trading is legal in India? I am facing an issue politikarunet.ru year I opened a account with iForex Its advertisement on Yahoo page flashes all the time.
I made payment forex rates india rbi my Citibank account. They also said I might never be allowed to open a account with them in future. Please help if you have any idea on it. I have a question. I am having forex trading accounts with different forex brokers. I bought dollars from local exchangers. Now is it possible to close all those accounts? Its better to ensure that your accouts are closed and your ID proofs are removed from them. I transfer my money to that foreign account.
From that foreign account I Stock options analysis tools money to trading broker. Here iam trading to that account. After making profit iam sending the profit money to that foreign account. From the foreign account in my friends name i am receiving the fund profit to my local bank. Is there any illegal in this thing.
If a question arises. If you have forex account then your deposit and withdrawal method must be same with same name, address etc. Like me many have doubts and questions. Forex Trading is Illegal in India? And IF someone found doing this what is punishment. Inflow or FDI which you may know of Foreign Currency will result in strength of INR. Yes it is better to wait for clarity from RBI. Only few brokers are allowing people to invest in foriegn stocks and that too limited to Stocks only but not in margin trading segments.
Anything other than that will be considered illegal unless RBI clarifies it. Is there any problem regarding this? If you are trading with some forex broker or with some other international broker in margin segment even with the above mentioned pairs then it would be considered as illegal as Margin trading with Forex Brokers are not legally allowed forex rates india rbi per FEMA act. But what about the bonus money which is offered by many brokers, even without investing a single cent we can work on forums and earn bonus money which can be used for trading.
So, such kind of trading with bonus money shouldnt be of any problems isnt it. Where can an Indian do online FOREX Trading etc…. Can you help me in this regard? You are doing a very good job by spreading awareness. Any illegal issues there.? Any list of countriesallows forex legally or have to check with the respective country govt.
How legal it would be if two individuals exchange currencies say USD to INR on their own? However as the amount involved is very small there wont be any impact i guess. Only those who comes under scrutiny check suffers a lot. I just wish to inform people on this blog that Forex trading in India is only allowed with INR pairing and not any other pairing viz.
I am saying this because I have worked in this particular field in India. Nobody knows where the money is being utilised. If the RBI or the Indian bank comes to know that the money transffered is being used for CFD trading, these brokers will shrug off the responsibilty because they do not come under the Indian Law jurisdiction. Most of the people who are posting comments saying that it is legal or lucrative are employees of these dabba companies trying to lure in clients.
I say this because I have seen such cases during my term with these companies. At the end of the day, the penalty for trading is completely upon the individual an not the so called brokers. Even in our office when some angry client used to threaten of a police action, the managers would tell that they are only a call center for these companies.
BEWARE of ANY LUCRATIVE FOREX TRADING. Just use online payment system for withdrawal and deposit then government cant know about your transaction. RBI already imposed strict norms over paypal and other payment gateways in india to monitor such transactions. With in one day my balance get zero. How can I do. I was also thinking about the same, lots of traders are trading in forex in india. Though it is illegal, there are many forex traders here and they are getting their withdrawals regularly to their bank account.
These minimal transactions are very hard for the OTGP to find out and track. Since the buying and selling market is now very much global lakhs of people in india are now buying and selling products globally simply sitting in their home. So how do RBI or SEBI can check and verify the nature of every payments. And also it was clearly mentions that impact of intensity of the money involved will lead to imprisonment and also chances for non bailable.
Then think how much crores Rajasthan Royals must have laundered. But for that amount itself there had been no imprisonment only notice has been issued. So guys finally notice or imprisonment i personally decided to stop trading until RBI gives some good news on Forex Trading. Torrent is a just a software which helps in downloading things.
If you download legal things then you can use torrent openly in any country of the world. But if you download illegal things then problem pops up. Read politikarunet.ru for news of the torrent world. Now in India the things that are downloaded are mostly created by foreigners. One hardly downloads a Indian made software form torrent.
So who will sue them. So it is not possible for them to come here to sue them. So, I stay away from FOREX. Till it gets legalised in India. It is still in the grey zone. My Name is Boobalan…. I want to work in forex trading please help me I want money forex rates india rbi my operation this month last. But I am not finding any options which can close my account.
When it is time to refund money to public, all of a sudden govt, comes into action and bans these companies. Basically these companies are doing forex business. My question iscan i open forex account in US with the help of my US bank account and SSN? My US account will be funded by my relatives and not by me. If someone wants to play it politikarunet.ru ask any of your NRI cousins or friends to open an trading account in their politikarunet.ru forex rates india rbi trade that account and if you manage to make any money,they can transfer the money to your account.
Before thinking too much,see if you can make any money on politikarunet.ru yes,go for a micro account. Still you can earn a good profit from them. Take Instaforex for example. You get money for forum posting in your instaforex account and you can trade through it. Not even a single paisa is taken. If I make profit then this will bring money to India and the Indians will be benefited.
They why RBI is stopping us? And anything that is not regularized and retail participants are playing in such segments are termed as illegal in india. If RBI wishes then the solution is very easy. Just make it mandatory that every Indian Forex how to do technical analysis in forex should open a particular type of account in a bank.
And a percentage of the earnings will be cut off as tax. Withdrawal in other bank accounts is illegal. If RBI implements this then government also can earn a good amount as tax from Forex trading and Indians also can earn money. Just tax forex investors and make it legal. It is all Indian legal system stupidity and hypocrisy. Alcohol is prohibited in Gujarat. Have ppl stopped drinking?
It is all underground. For a premium you can get whatever brand and as much as you want. And the stupid govt. Sensible countries have legalised both and tax both. As I see it keeping forex trade illegal is just the bully mentality of the ruling class of India. While the ruling political class exists only to start and support scams latest Sharada scamit is us ordinary folks who are always victimised. Such a bull shit nation!! If you want to trade in forex markets its better to stick to Trading in indian bourses like NSE and MCX-SX exchanges who offer Indian Currencies Pair to trade.
But still if you are trading in such segments better avoid as it is unregulated segment so far by RBI similar to cricket betting. Iam able to see lot of efforts from RBI to curb such illegal activities. Its better to avoid rather than getting sued by them. I lost all my deposit with iForex [now I know they are rascals] and whotrades where I did very well in Demo but lost all my deposit in live trading. So, I want to know how did you manage? The legal aspect and the company.
Can you give me. What is the minimum deposit? I stay in Kolkata, India. Because this is the only place where RBI can catch us. Aninditayou can try Instaforex. But remember that you have to cashout through that payment processors through which you have invested most. But you can trade on Instaforex even without any initial deposit. Join politikarunet.rupost good posts there. Bonus accumulated this month will be given in the Instaforex account the next month.
You cannot withdraw forex rates india rbi bonus but if you can make profit then you can withdraw the profit without any limitation. Remember never spam the forum and never copy paste post. They will ban you if these rules are violated. Instaforex is a good broker and there forex rates india rbi no doubt in that. But the main problem is how to withdraw the profit without being caught by RBI.
There is an option called Instaforex mastercard. Harryplease tell how to withdraw the profit legally. Also please say how much you withdraw per month? But note that, all genuine International Forex brokers do have a clear disclaimer policy which talks about the risk involved in trading Forex. The risk of Trading Forex is very similar to the risk of Trading Stocks in the Futures market they work on the same margin and leverage concept.
Every country including India has it. In India Futures trading on Stocks is Both traded on NSE and BSE. Now note that RBI warning is in the interest of common people to protect them selves from unreasonable claims. Forex trading is like stock trading and if you are not managing your risk properly you are bound to lose money. If you do a bit of research on Forex Brokers site, no genuine FX Broker will claim guaranteed profits or returns whether small or big.
Simply, because it is just not possible to claim any guarantee in online trading, whether you are trading forex, stocks or commodities. Every participants from small individuals to big institutions are all equally entitled to the same risk. If RBI or the Indian Government thinks Forex trading illegal, you will not be seeing those Forex trading platforms and sites in India and you will not be seeing a host of Forex trading advertisements and links in search engines like Google in India.
If RBI or the Indian Government think forex trading is illegal they would have stopped it appearing and accessible from India by blocking those sites in just one second. You should be in fools paradise, thinking that RBI and the Indian Government are blinded to all this. If they want to stop they will not issue it on circulars, they will stop your access to it from India.
Foreign Exchange is a critical life blood to Any countries Financial Economy and India is no different. And you can be rest assured that no country will curb on Forex trading. The only issue is the route you will be taking to access them. As long are forex rates india rbi take the legal payment processing systems in Forex trading, you will be safe for ever. So, if you think Forex trading works for you than go for it.
Its perfectly legal as long as you have the access to do it legally with legitimate payment processes both in and out of your bank account. Seems to clarify many aspects of Forex trading. Btw, who are you? Your knowledge seems tremendous. I have some questions. If yes please share which forex broker you are using any which payment processor are you using. Have you filled up Forex trading as a source of income?
I partly agree with what you have said. I think all of us discussing here are ready to give taxesbut not want to be sued by RBI. However if you have found out that forex can be traded legally here if we pay the proper taxes then please guide us. We all will be grateful to you. But the fact is anything which is unregulated is considered as illegal. Recent Example is Sports betting in India is considered as illegal.
I guess you would agree. Running casino in most of the states in india is considered as illegal. Likely International Forex trading and CFD trading, Spread Betting, Binary Trading is considered as illegal as these segments are considered as unregulated marekts as per RBI and SEBI. Even if the broker is genuine trading with such brokers are considered as illegal.
Alpari one of the top FX broker had opened their india few years back. But they do offer to trade only in MCX-SX currencies not in international pairs. It only warns about Guaranteed high returns scams in online trading who try to make money differently in the name of online trading. Misleading interpretations and false gossips should be strictly avoided in a good discussion blogs like this. You invest your money, you open your trade positions and you close your trade positions for a profit or loss, and you are free to take your money out to your local bank account whenever you want.
Its not a Hawala racket of currency exchange which happens in the back channels to be deemed as illegal. And if you want to trade USD or other currencies against each other apart from INR you can trade them legally through genuine international brokers. Forex trading is not a walk in the park to make quick money.
They need to have a solid backing to the claim and the ruling and the opposition political parties have to back it up. And in spite of all this, the Supreme court can intervene and question the RBI intention if it finds to be unjustifiable. It is only a joke if forex rates india rbi one happens to even think that RBI does not know this, on what even an average common man in India knows. RBI is not an enemy to Indians, in fact it is a body to help Forex rates india rbi to keep things in order and to facilitate the growth and safety of every Indian.
Note that it is not RBI who dictates Indian citizens -- It is Indians who dictate what RBI has to do ultimately. If not the few officials who involve in stopping it for personal gains will be thrown off eventually either by the government or by the supreme court or by the people of India. Forex trading is Just about buying and selling currency, which is just as any normally traded item. Even RBI does foreign exchange, so why not individuals should not do it in the fair open market route.
If no one trades, there will be no liquidity in the market. And where will even RBI do its own Foreign Exchange. The argument of specific regulation will not hold here. Since the Online trading is a new kid on the block with just forex rates india rbi years old Open to General Public World Wide And regulations in India dates back to decades and decades backwards.
And every Indian knows how the policy decision, updates and amendment processes work in India. And long it will take to do it in India. It May be days, months, years, decades, or centuries or even never! For example take the case of politikarunet.ru -- this is under one of the world largest banks, Citi group. Does few people who are against Forex trading mean to say that Citi is facilitating illegal activities right under the nose of US government?
Even in the case of etoro there is a separate site for US clients which is regulated specially for US citizens. You can check the etoro US website for more details. Genuine Forex brokers make there money by commissions, if you make lot of trades they end up getting more money by way of more commissions. In any case you are free to withdraw forex rates india rbi initial amounts any time.
And those who have limited capital can make use of it. Not Just Alpari, if there is a option for registering, a whole list of International and Local Indian online trading brokers will register for trading international pairs. Since RBI is bothered more about Indian Rupee they limit themselves to opening up for trading on it as of now. If there is a need, and if India rise up to deal with International forex trading facilities they will make necessary amendments.
Right now, since there is no option available here locally, interested people take access to forex trading on international pairs through International Brokers. They are not a law enforcement so they will not chase people. However if a complaint is made against a specific person they can take action. Is it still illegal to trade with them? Forex is a highly leveraged trading product and not many people know what they are doing and most brokers offering these promotions know this.
My advise would be to use companies registered and authorised to trade by the BEST regulators FCA or NFA. I would say brokers like FXCM, City Credit Capital, Gain FX who are listed companies or about to be listed and offer correct pricing that is transparent. Can you please share us more information about this. The first question is which broker do you trade about and how do you withdraw bonus to your bank account?
Please give us a detailed guide. We will wait eagerly for that. How can we withdraw funds to our Indian banks. They may withhold the money or inform to RBI if they come to know that fund is from Forex trading. Is there any way to get the fund forex rates india rbi Reading your article has put me in a dilemma. I am at the moment an NRI residing in Singapore since the last few years.
In that time I have been successfully trading in foreign exchange. My husband has recently been offered a posting in India and we will be taking up the offer. My situation is that I have been very successful as a Pro Forex trader. And while I will not be remitting money outside India for my foreign exchange trading purposes, I wish to continue with my trading and, at the same time, hopefully remit my profits into India. What would be the legal repercussions forex rates india rbi a situation like mine?
Can I carry on trading with the capital I already have outside, in my own name, the country and bring money back in legally? I would truly appreciate your feedback. Try opening an international current account and park your profits there and spend the money using the international bank debit card. Do let me know so I can mentally prepare myself. The debit card idea is a nice one. However I have already declared my international assets to the IT dept this year as it has become mandatory so will have to declare it every year now.
I have also heard of an RFC account. Apparently NRIs returning home can maintain this account and park the funds they had abroad into this account. They can then transfer money abroad without restrictions from the RBI. Just not sure about the Forex investment bit. Should you know of any CA who is well informed about FEMA rules, please do let me know. It would be very helpful. I want to trade in Fx markets, please tell me how to do that. Ram u wrote so many things about rbi ,govt, this and that, but u did not reply the main question asked?
If u r trading successfully kindly mention the deposit and withdrawl method u use. If u will guide ppl here in that thing only this disccussion will be over and ppl will come to know a way of depositing and withdrawing the money without being caught by the rbi. I and i m sure others will also be very grateful to u if u can do this. W need a solution, not endless discussion of the same topic. RBI and forex trading. Is it legal to trade in these products! Waiting for your reply.
Please give the list…. I want to trade in USA stock and commodities markets, can any one please provide me information on brokers. It is good to trade only with NSE and MCX exchanges. You can use those tools only for analysis purpose but trading with them is purely considered as illegal actions as per RBI norms. We all have been having this discussions about the legality of forex trading.
Some ppl say its legal some its not. So its my big big request to all these traders to pls pls come forward and help ppl by guiding in. If these traders just tell what i did mention above ,the details of deposit withdrawl methods, what to say to. IT ppl,what reasons to give for every transaction etc etc. Pls all the senior members come fwd and help us. Many brokers gives bonus for forum posting… such as Instaforex sponsors a number of forums.
Gather a good deal of bonus and start your trade. Though this is not a good solution, still you can use it to start trading. The main problem lies in withdrawal of bonus. I was thinking that these strategies may help to withdraw money. Though these will not work for big amounts at a time…. However to be honest I myself has not tested any one of them. No one will know the source of income.
Gather money to this fake account. Transfer money to your original one. If asked just say that you are doing freelancer jobs to earn money. However this method is not a reliable one as it is not safe to use the same paypal account repeatedly. Give your original paypal email as an author. Now open fake paypal emails and buy your own books by paying through your fake paypal emails.
If you have more than one fake paypal emails or if the site accepts different payment processors then it is an advantage. You can say that you are earning by selling books. Also say him that he should pretend as a freelancer job giver if any problem arises. The main problem in this method is that you have to find out a good and trusted foreigner who will do this job for you. I request others to discuss various other ways to forex rates india rbi money and you are also welcome to criticize the methods discussed above.
I will like to hear them. What i know about paypal forex rates india rbi that rbi has put some limit on it for transactions. They nowdays ask for documentation and all. Can we transact large amount into our bank acccounts?? Can we tell to the IT guys that is freelance income? But I will suggest you not to do that. Transacting large amounts may draw attention of IT department. Richa and Anindita Choudhury. Actually in order to withdraw profit in India, we have to keep in mind two things.
One is we have to hide our original identity and the second one candlestick trading binary options we have to find a good source of income, which we may use to hide our forex profit and say that we earn money from that source. I am in many forex forums and foreigners get surprised when they hear that forex trading is illegal in India. It is actually a very shameful thing that we have to turn into criminals to do a honest business.
Sell some books on different sites [ The books are just few pages written by you or gathered from the web ]. Now you have to gather foreigners who will buy your books. In reality no one will buy your useless books with their money. The money will be transferred to your bank account when the foreigner will buy the book. Yes it is possible. For that use this. Ask the foreigner to give screenshot of that portion of the book which contains the stamped email. Keep that email address.
Now sell high valued ebooks. Note that paypal allows to open only one personal and one business email. So if you give good commissions, then the foreigner will not cheat unless he is super foolish. In this method you will find a foreigner who will post fake freelancer jobs on freelancing sites. The foreigner will always select you to do the job.
The foreigner will pay you to do the job. Actually you have to give the foreigner in advance the job fee. After you get the payment give some bonus to the foreigner. These processes seem to be very much legal. If you get more foreigners then the process will be more legal. Because they will pay you through different paypal address. But in case something goes wrong [ though it is least possible ] you can delete the website or forum to remove all details.
Note:- Many free hosting sites allows to host forums and websites. In order to get such foreigners, give ads in Paid to click sites, ad networks etc. Also you can use forums to gather foreigners. Criticize the methods freely. I want to trade with fxcm and Want to deposit fund via debit card, but I came to know that forex trading is illegal in India, So can I transfer fund from debit card to fxcm. Is it safe or not? If u r doing the same what do u say?
Give me some names of forex trading sites which give option of depositing and withdrawing fund from skrill,moneybookers etc. Some of them are. Sir what u r mentioning the ways to fund forex account by doing all sort of things. Funding is not difficult,we can do by moneybookers easily and we can do it directly by debit card in small politikarunet.rum arises when u make profit and u have to withdraw. My question was can we withdraw large amounts. Am i wrong in thinking this way?
Please read the posts carefully. All the ways that I have described are ways to withdraw forex profit, to your bank, through paypal, in a complicated way. You want to pay tax and earn a good amount of money. But I think that a better way will be NOT to pay tax and withdraw relatively low amount of money per month. This will help us to play on the safe side. This is a small amount in relation to your expectations, but I think it will keep us away from trouble.
Note that paying tax is not a good idea when your source of income is not legal. This is because IT department will keep an eye on you to see whether you are paying tax according to your income or not. So it is better to avoid IT dept. However if you want to earn more, just withdraw your money to say egopay account. If you divide the income, the IT department will hardly notice you.
Also use diverse fields, like selling books, article writing etc. If possible do some article writing in reality. These are just to show that you are working hard to earn money online. Always remember that IT and tax dept. So just avoid them. For more clarifications you can consult a good lawyer or a tax consultant. They can better guide you. P DIR Series Circular No. But is there anyone who can tell why it is termed illegal in our country and what harm does it cause to our economy, society, culture or whatever?
Should not be risky for anyone. I would also like to understand why this is illegal in India when countries like US and UK do allow such things legally. Forex rates india rbi, What options I have …. Even ICICI provides such facilities. However margin trading in any international segment is considered as illegal. Margin from exchange Like in derivatives etc. If I am right on this then which kind of margin is banned. I will check with them today as i read this article today and stop this if they are not ready to provide legal docs for same.
But do i also need to inform RBI for same, that i was not aware of this. What consequences do i have now? It is legal if your investments are delivery based. Your blog is very informative. I am little bit confusing in forex trading and currency trading. Currency trading in USD, EUR, JPYand GBP is also illegal?? Please reply me sir. If you have more concerns on legality check with your financial advisor or with CFA people. Bloomberg UTV : Forex Trading is Illegal in India.
However it is legal to trade in Indian Currency pairs trading in Indian Exchanges. Also please say if there is any Indian broker who offer some no deposit bonus. They are providing only MCX-SX Currencies. I am not an expert but if the FX trading is illegal for indviduals? The article says trading in international currency parirs from FX brokers are purely illegal.
Do not convert USD from INR on your electronic payment processor like money brokers skrill,webmoney,perfect money,paypal via CREDIT CARD …. Then what should u do? Buy USD from a genuine man u can find these people all around the india and Give him the INR as gift and bring USD to payment processor like money brokers skrill,webmoney,perfect money,paypal and deposit to broker ….
Sell face to face if possible best way i politikarunet.ru wiil not get informed if u sell hand to hand. DO NOT USE CREDIT CARD FOR INVESTING. I would like you all to explore an alternative safe way to earn from forex trading without violating Forex rates india rbi norms. The alternative way that I am talking about is by becoming forex signal provider using demo accounts to these well-known signal providers: ZuluTrade, Currensee, Tradeo, Simpletrader, FXSTAT,etc. This involves no real money trading and your trades will be mirrored by thousands of fellow forex traders.
You will earn based on your trading performance and popularity with subscribers. If you think you cannot make serious money with it, then you will be pleasantly surprised. Read more politikarunet.ru For heavens sake, dont lose your hard earned money to shady forex brokers operating in India from Russia or East Europe.
If you are new to forex start demo trading on etoro. RBI rules are getting harder. Read the new RBI Rules on forex legality. It will be legal or not? However, you will have to shut shop when you become a resident of India again. Also, I do not know about politikarunet.ru I trade with AxiTrader. Exit strategies for options trading reason I trade with them is because unlike in Cyprus and most other places, the Australian security markets are very forex rates india rbi regulated by the ASIC.
No bucket shops there. To let stock market only to enlarge which can be drained out as per fowl players will? How many politicians or their relatives participate in stockmarkets? Whose government policies and what for? Most probably, Expert traders or Indian institutions can bring back dollars in exponential profit level after participating in spot forex abroad as the market cannot be manipulated due to immense volume.
Even after all those limitations and regulations what happened to Indian currency and majority retail participants in Indian stock markets? Is it that some fowl players in Indian stock market gets all of retail participants money? How many Indian citizens have made something named profit consistently from Indian stock markets or commodity markets? I think Instead of forex rates india rbi FIIs invest and take back profit from India, Indian institutions are supposed to bring profit dollars to India with allowance to participate in spot forex trade abroad.
Indian economy should not be based on FIIs generosity and play provision. Perhaps Indian strategists blind expectation on shrinking market which can be whipsaw to FIIs would have been effective if FIIs or their supporters did not know to handle human brains and forex rates india rbi system through interception. Why asking the same questions again and again? For a resident Indian, trading with HY markets forex rates india rbi illegal. If you really want to trade in global spot currrency market,open a demo account on etoro and start politikarunet.ru you manage to make any money on demo atleast two months is required start thinking about real trade,RBI blah blah etc.
If you are a NRI, you can trade with HY markets OR any NRI cousin or friend can open an account in their name and you can trade that politikarunet.ru first…. Its just like our helmet politikarunet.ru the govt is bothered about the driver and not the passenger on politikarunet.ru can trade any politikarunet.ru is considered more safer than share politikarunet.ru it becomes legal,more people would leave share trading and its not good for big share dealers who makes money from small share dealers.
Can you recommend any international Forex brokers which I can set up an accout? Also, can you tell me how forex trading is illegal in India? Just wanted to know. Also Trading in US stock for delivery purpose is legal in india. However it is illegal to take marginal trades in foriegn exchanges as per RBI rules. Otherwise you have to consult with your Financial Adviser. My Trading Account is in CDEQUI company, they are providing NEST trading politikarunet.ru i was reading your Marketcalls site.
I come to know about Metatrader. Can i use metatrader software to trade nifty or mcx. Can they stop that as well? Do you know how their funding channel works? However for residential indians they are not promoting to trade in international forex pairs. Guess they are in compliance with RBI guidelines. If they consider something illegal they should take action after circular has been passed, why do it for something which was done before circular was passed??
Can a person move to court for this situation against RBI?? Or it will be a mark on the person? All my transactions are going well tile date. RBI has other big issues to handle then chasing forex traders. If yes, then who are the safe and genuine brokers? Thats how margin trading works! Forex rates india rbi you are very quickly to loose your forex charts live because of the leverage involved.
Trading is going wellhave you withdraw your profit any time. There are many frauds. Better to stick to Indian Mkts. There are so many forex rates india rbi it without any trouble. I had deposited money through my HDFC International forex rates india rbi card. What problems could I face? Will I get any punishment for it? I have deposited money many times and withdraw also.
I ask to my Account Officer about forex trading illegal in India, she replyed me we are working as per Indian Govt. Shall I continue or stop? I am a small scale trader and once i get bigger,I would seek the help of a NRI cousin or politikarunet.ru trading is legal for politikarunet.ru trading. I am literally scared but still trading with XFOREX as my FX Broker. Still no action has been taken against politikarunet.ru help whether i should continue with this or not?
OR I AM DOING SOMETHING ILLEGAL? What is the govt rule for it? I further have a question that can I carry the above mentioned currency and stamps collection from Karnataka to New Delhiwhere Forex rates india rbi am going to shift soon. And then you may always return back. Thanks for your valuable informations, surely they will be eye-opener to many. I came to know this company through my friend.
Do you have any idea about that company and its credibility? Any body can share their knowledge regarding that company. Thank you in advance for your help. My withdrawal amount if way too small so no problem yet. Mr Rajandra, How does the below sound for a solution:. Richa, Anindita Mani awaiting your comments on this:. He has agreed to open FX account in his name.
He transfers equivalent USD from his bank account in Dubai to the FX broker. Float offshore LLC in Dubai. Open Trading account on the name of LLC. The LLC has a nominee director so the management of the LLC remains abroad. Hence LLC is not taxed in India. Jurisdiction to be considered is Dubai. NRIs can trade in forex freely once they reside outside India. It is only when they return that the problem starts. Does anyone have a solution? There is much discussion what and what not RBI is saying, and why they are saying it.
The fact is that trading in Forex in India in pairs other than USDINR, GBPINR, EURINR, JPYINR is ILLEGAL. Their words are very general and to be used as they deem fit. I currently have an international bank account in Singapore. But I am still not using it for trading as the IT rules are getting very strict and internationally info is being shared more and more freely now.
I had already considered the possibility of using the relative angle. But that is the last resort because getting back the money into the country will be complicated. You pay the gift tax and go on your way. If you make bigger money in a year remitting it to yourself gets a little more complicated. How will you transfer it back to yourself? Part remittance and part cash carried by hand maybe is the solution.
I hope you trust your relative a lot. And hope they live up to that trust when the sums become very large Presuming you are a good enough trader to make large sums of money. Please do not think RBI and Income Tax people are fools. Ask anyone who has gotten on their wrong side and they will vouch for what I am saying. So while we may try our luck, in the long run it is not worth testing it.
About you starting a company abroad. I hired a CA to find loopholes in the RBI rules. This is one possible hole. But is it easy? Opening an LLC in Dubai or a Pte Ltd co in Singapore is easy. But there are many things to keep in mind. Especially the part of a Resident Director. Plus you will need a bank account. Much of the charges you will pay will be a recurring charges like the director and Com Sec and local registered address etc.
I am sure there are many known and hidden costs like these in Dubai as well. But you may require licensing in Dubai for a company to trade in Forex. So not only will you have to pay a lawyer to figure out if you need a license, you will also need to pay this lawyer to arrange the license if needed. There will also be requirements that you may need to fulfill for this license. Plus fees, plus renewal. Keep that in mind.
You can invest in an Overseas company as it states here. But funds have to come from particular sources like RFC account etc. If imagine you do manage to open a company then read below. Forex is mostly CFDs that are non-deliverable in nature. It says: An overseas entity, having direct or indirect equity participation by an Indian party, shall not offer financial products linked to Indian Rupee e.
If you trade in commodities like Gold, Silver and WTI, you might have to take permission from the FMC. This information is there in the same link. There is also an email account link so you could mail them as well. Forgot to add one more point. If you open a company with only business being forex and sharetrading and become its director, that too could have repercussions as you will be a resident Indian.
In case of an enquiry ever, questions will be raised and they will need to be answered. One way to circumvent this is to have an NRI relative as the director and shareholder God bless our hardworking NRI relatives. But then how do you bring money home? Like I have mentioned before, the RBI and IT are not to be messed with. I hope this post was helpful to all.
I could do with a second opinion on the company angle. So please do consult forex rates india rbi let me know. Since I am not in India yet, I could open a company as an NRI and keep the shares when I return. But I am worried about investing in Foreign Currency as worded in RBI circulars. Use my existing savings account in Singapore to continue trading when I become an Indian resident.
No one is forex rates india rbi in India. This route has no problem. HSBC recently sent India forex rates india rbi list. Information will flow freely now. Sooner or later this forex rates india rbi will reach RBI. That said, please consult a CA and let me know soon. Everybody, there is no point abusing the RBI and arguing why they have this rule.
The fact is that they have it. Lets live with it and try to find a solution. What do you think will be the extent of the investigation and what do you think will be the punishment for such an offence if they deem it has occurred? Open a legal offshore company, there are many viable location as said…Singapore, Dubai etc. Then get capital legally to invest. After you make profit, pay yourself salary or consulting fee as director or employee of the company…pay taxes as needed per the rules.
I will be checking on the same with a CA on this. But you have to check out the legality of the countries regulation if any. U can always trade through NRI account. RBI ONLY doesnt allow moving money from India to outside for speculative trading or margin deposit purpose…. It is lambourde bois composite forexia when they return that the problem starts…….
If NRI return to India and become Resident Indian, NRI account needs to shut down. RFC account can be opened. Does the Income Tax authorities in India have the legal right to question the source of income earned abroad for an NRI assuming the NRI stays in country which has a DTAA arrangement in India. More specifically Singapore or Dubai or Australia. SINCE ACCORDING TO HDFC, IT IS AN ILLEGAL MERCHANT SITE. IS IT GENUINE OR SCAM….
PLEASE HELP ME IN THIS REGARDS…. Then how come no one is stopped till now. Some traders were arrested but for money launderingetc. I strongly suggest you try a demo account and see if you can make money in politikarunet.ru successful invest a small through a NRI friend or politikarunet.rus in demo account does not gurantee success in real politikarunet.ru is not easy and could take lot of time to politikarunet.ru the NRI route as its legally politikarunet.ru you can master it your laptop would act like a money printing politikarunet.ru in mind,forex is not easy.
I know that many Indians are trading forex International ,but some of them have problems. Well I have a trick to safely get the money to Indian bank accounts. But still I need your suggestions. First of all open an offshore bank account and withdraw any profits to that account. Later open an project in crowdfunding sites where you can get donations for your project. Fund your own project and release the donations to your Indian bank account.
In you bank statement, it will appear as donations received for the project. Is it okay to do so? Any help will be appreciated. Then you can decide to go with binary options. Well, read a lot about about the illegality of Forex trading in India. Or is there something I am unaware of? What according to RBI makes Forex trading illegal? I believe trading is then possible for Indian clients and Forex rates india rbi is very much an acceptable currency for trade.
He told that forex is illegal in India but binary is different. Lot of Indian traders have account with them and trading without any problem. Rajendran have no idea on many things and he is just frightening others on the basis of RBI circular which says about forex trading. Its more of a legal one. Could you please suggest me some other genuine broker for this in India which offer Forex trading. I will be thankful to you. I have come across a few like Onada and Alpari….
I would also like to know about politikarunet.ru…. Seems legit since its a subsidiary of politikarunet.ru but I dont know how far the representatives are legit. And then I trade on it, sitting in India. That way I am not doing any online transfer of funds from here. Any way to do that? But as long as there is a right understanding between you and your friends are good you can do it. If reply is not satisfactory or involved in forex trading then international credit limit will be zeroised on card and such transactions will be reported and action will be taken as deemed fit.
Please let me know what actions they can take against him and what are his options against those actions? What to answer the bank? Please can you provide an update? Similar thing is happening to my friend. The best part is, in mauritius you dont have to pay taxes ,all you have to do is show your a alien and india you dont have to worry about taxes because u never earned the income in this country. So it is clear RBI is banning forex just to save Indians from being scammed by forex brokers and to prevent outflow of INR to foreign countries.
But there are ways to trade forex without investing a single paisa. There are many foreign brokers who give no deposit bonus. Searching on Google with forex no deposit bonus gives a huge list. And in order to withdraw money from these brokers one need not require to deposit a single paisa. Now in this case, there is no outflow of INR but inflow of other currencies. Also see that trading in this way does not contradict with RBI rules. This is due to the fact that you are not investing any money here.
You are trading with free dollars. Alpari India has closed in India. So please tell me some Indian brokers. There is no free money. Bonus are just a brokers feature to allow you to try and trade more not a users facility. And that no-deposit-bonus cannot be withdrawn. Is it legal to get the account funded from a friend residing in US to trade futures? Can you please confirm if I can trade forex online in the above website legally. It is perfectly legal to trade with SEBI registered Indian Stock Brokers.
I GOT A WARNING LETTER FROM BANK AND RBI THAT, IT IS ILLIGAL AS PER FEMA AND IF I REPEAT IT, LEGAL ACTION WILL BE INTIATED. All of you Pl make a note of it to avoid legal action. I have tried it with HDFC but did not succeed. Please tell me which banks card I should use? Forex rates india rbi have one question as you are doing great on this please answer me if you have it. I know How to Trade in FX Market as I did finish my study in Finance only. Trading FX in India and sending money as margin from India for such purpose is illegal.
I am convinced on this. IS THIS GOING TO BE PERMITTED TO ME? If you know the answer then pls let me forex rates india rbi else also pls let me know if you have any inputs in this…. I advice you do consult with auditors would throw some good info on such kind of setup. I would like to speak to Ram about forex trading and opening a forex trading account in Dubai?
I would like to contact him about forex trading and opening an account in Dubai. I will highly obliged to you give me the brief information on the FOREX legality. Sir looking forward for your reply. But once cannot trade in margin segments like Intraday trading, Forex, CFD, Binary Options…etc. Trading in Overseas Margin Trading Segments is illegal as per RBI regulations. FXCM and politikarunet.ru are legal according to their country rules.
But when RBI says you cannot trade then trading in such segments are legal as per Indian Regulations. If you would like to invest in US Equity Markets here is a way to do it. But definitely not with overseas margin trading. That will be a legal? The other side of the scrutiny is going to be so forex rates india rbi It doesnt matter whether you are receiving funds from listed company or a non listed company.
But still remember such transactions are not safe and there is no guarantee that your money will be safe or refunded back if there is any issue. RBI does not disallow forex trading itself -- there is no such rule. This will violate the rule. So, for example, ff you go to Canada and manage to open a forex-trading account there with money deposited in non-Indian-rupee currency -- you are not directly violating the rule. Forex rates india rbi if you earned money there and never converted to Indian Rupee -- that is completely legal.
If you are already earning plenty via forex trading, go to that country and open another forex trading account there with the previous amount, stay for a while, open a bank account there, but never convert from Indian rupee to transact in Forex. If you are transferring forex earned amount back to India -- there is employee stock options iras such rule violation.
You will violate RBI rules or the FEMA in particular only if you transfer money to a forex broking account using Indian Rupee currency. This is the only important part. Sending money from India for speculating purpose is co spidered as violation of rules but some how managing their and trading their or trading foreign clients account from even India is also not cosidered as violation of rules.
As we are not sending money outside. Just providing our service as fund manager to our foreign Clients. This is just as outsourcing task. If I open an account with them, will they trade on behalf of me in the global forex market, so that I can benefit. RBI is more concerned on funds transfer from an Indian resident to forex trading accounts abroad, which is supposedly banned by RBI.
Any payment through bank transfer, wire transfer, credit card etc. I could not draw a conclusion that RBI or Indian govt. My query, if Rajandran or any other may answer it, is -. I trade online from India. My trading profits come to their account in their country. Also there are many contests through which we can win and earn decent seed capital. I have a hold in the forex market now, but its sad that there are many restrictions and prohibitions to trade forex market freely.
What shall i don know?? I am doing binary trading. What should i do close or continue???? Because anything related to margin, cfd trading is illegal as per RBI guidelines. Being an NRI, i was allowed to do forex trade. I had been using my gulf credit card to deposit forex. The withdrawals came back to the same credit card. The excess profits are sometimes directly transferred to my NRE account in India. So far ok since i was NRI. But forex rates india rbi year i am planning to return to india for good.
Will i be allowed to bring in foreign exchange to my rupee account in india there will not be any elliott wave software for forex forex remittance only inward payments from my forex account. There is no margin in Binary options. So how is it illegal? These are the options we have right now. If you have any info. Even on Value area trading strategies website they have not mention that BO is illegal.
Forex I agree where margin is involved. All our discussions are really not leading anywhere. Given the bad economic situation, we need to learn and do legal Forex. Is SEBI have any role in that trading. Are there any regulations on how much money I get from this type of transfer. Please let me know. Your email address will not be published. Neither politikarunet.ru website nor any of its promoters shall be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
The first parameter to addSize is. Rajandran is a Full time trader and founder of Marketcalls, hugely interested in building timing models, algos forex rates india rbi, discretionary trading concepts and Trading Sentimental analysis. So, Individuals should not trade in forex in India?? Fx Brokers are not giving right clarity on that.
Better check with your forex broker. USDINR allowed if a currency pair without INR only not allowed. PLEASE TELL ME WITH WHICH WEBSITE R U DOING FOREX TRADING Reply. Awaiting for a good response from the expert. I stopped forex trading these days. Trading with nifty these days until a solid confirmation from RBI about the legality of trading in FX markets Reply.
Hai, My name is Alvin. Any one in India can trade in Forex provided by the authorized brokers in Indian stock exchanges. You cant trade in Margin Segments Overseas Markets. Can Indians trade in futures such as E mini in the US markets? It comes under margin trading segment. Thank you for the information.
Exit and Take your money back and stop trading in international forex accounts. If forex trading is illegal in INDIA thn why do the govnment and RBI not stopping the companies of forex trading from opening offices in metros of the country. Something is forex rates india rbi which is unkwn Reply. Folks, all indian government hypocrisy. You are right sir, they are not registered or trade with any of the exchange.
They may be genuine online binary options free demo account brokers. I have one question about politikarunet.ru this company is genuine in india. Even Alpari the No. Yes you are right AJay, Trading in Indian cross currencies are purely legal. Not legal for Indian Residents.
As per RBI policy its legal to trade currency only with Indian Exchanges NSE, BSE, MCX-SX Reply. I just had a chat session with someone from a UK based forex broker. Yes Ajit, Many people in india are trading in forex market but that doesnt means that it is a legal concept. Hi bhargav can i speak to u regarding forex in politikarunet.ru reply to politikarunet.ru politikarunet.ru. Forex trading with INR pair is legal in india and other pairs are illegal.
Someone kickk indian foreign ministers asss Reply. I am in big trouble because of this forex trading. If yes, pls help me-thanks Reply. The above article clarifies its clearly illegal for Retail traders in India. Even the States ,I mean America have restrictions on forex trades, this I knew only recently, and it seems that. Bro your question is half correct. And what about this Updated one. Please explain me better if I am not understanding it correctly as Finance is actually not my area.
And how about this link wher rbi warns against forex trading? If any one can tell meif politikarunet.ru is fake or a genuine forex trader? Many Geninue International Brokers are there. Are company CFDs allowed? GOOGLE CFD, GE CFD. Sridhar Its legal only if you are trading in indian exchagnes like NSE,BSE,MCX,MCX-SX Reply. Good to know that you are not trading in forex account. My friend having an foreign account. Kindly clear can we do like this…. Thanks for your inputs KEN.
Can we trade gold with forex platform. OANDA or FXPRO or IBFX etc Reply. Trading will be illegal if you are trading in any margin segment outside india. Can we trade INR to USD ,INR to GBP and other INR against other Forigen currency. For Retail traders trading in Indian cross currencies like USDINR, EURINR, JPYINR, GBPINR are legally allowed to trade in NSE and MCX Exchanges or any other currency exchange operating from india. Rajandran i am glad to see atleast someone trying to spread awareness amongst people i have a video which will probably clear many people doubts as to why they should nt do so plz if possible politikarunet.ru?
Now that the funding is not allowed by RBI, lets not fund into margin account. Is this a problem, even if we are not funding. I want to know about Online FOREX Trading in India. Thank You so much Mr. NRI Trading in forex market in forex pairs are legal if the Current Foreign Country where the trader resides allows legally. Yes you had broken the rules.
Please Brother reply on this. Very Good Job Mr. Dont worry it is legal. Hi i wanted to know can i invest with Etoro for Forex trading. It is illegal as per RBI norms to trade in E-Toro Reply. Hey Rajiv, thanks for the comment. Hi Rajiv, are you aware of any good, reputable and transparent ECN FX broker, for LIVE trading, from India?
Any help or advise is highly appreciated. Note that using torrent is not illegal. But for forex the thing is different. RBI is therewho resides in Indiato sue us. As I understand, in India, if you are a big shot with big money, you can get away with murder, not just violation of FEMA. Hi I made a payment in politikarunet.ru today but by reading your website I immediately withdrew my all money from it.
Here is the perfect scenario. Yes but still it is better to consult a CA before taking such decision to know the implication involves in such activities. Its better to consult a CA. You are always welcome! RBI wont knock your door for investing few hundred or thousand dollars. Because International forex trading is forex rates india rbi regularized so far for Retail clients. So the problem is tax.
Yes if you would had traded in International forex market it is FEMA violation. I gave up trading in forex as it was illegal. Harrycan you say how you withdraw your money. Is binary option trading legal in India? No Binary Option Trading, Spread Betting, CFD Trading are completely illegal in india? There is a lot of bad blood discussions here on Forex rates india rbi trading unfortunately.
First of all, RBI or the Indian Government is not in the business of stopping Indians from making genuine money. The RBI is just trying to protect us from falling prey to scams which claim unrealistic returns. The only thing RBI is concerned is to protect the money out flow and in flow in illegal routes. And every one whether big or small will make money or lose money in trading. Note that, RBI or the Indian Government are not foolish. They are aware of whats happening in the cyber space inch by inch.
RBI sets rupee reference rate at 68.0858 against US dollar
Buy and sell foreign currency online or transfer money from India at the best currency exchange rates. Book a forex order online at politikarunet.ru.
In India, Foreign Exchange or Forex trading (Overseas Trading) is not allowed. If someone is found trading Forex on the stock market by the Reserve Bank of India’s.
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