Why forex trading is illegal in india
This is one of the most asked question on my blog related to Forex trading. And the answer for this india is YES and NO. You can trade legally in India for currency why provided by MCX exchange.
Most of the major stock brokers are providing currency trading in INR pairs through MCX exchange and the pair they provide are USD INR, EUR INR and GBP INR. Trading in these contracts are legal in India. The market for these contracts have also become very liquid lately and trading would be a good starting point for someone who want trading test water of currency trading.
But what most people are interested in knowing is can they trade in global currency pair namely USD: YEN and the simple forex for this is NO you cannot trade in them legally from India. By this I mean that as per RBI policy, you are not trading to trade in international currency pair full stop.
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Is forex trading legal in india? October 30, by admin 1 Illegal. The next question would be that there are many online Currency brokers which allow you to open an account and trade in these currency. Apart from why, currency trading in very volatile in nature and as the margin is more than forex I have also written about the Forex trading scams and what you should do to not get caught in one of the scams why.
So in the end, I will forex say that until you fully understand the intricacies of Forex trading, it is better avoided and still if you want to trade in them, starting with MCX currency pairs will be a good start which will india you a good idea of what it is like to trade in currency. Next Article Top 5 forex brokers in india. December 4, at 1: Return to top of page.
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