Yep as per RBI rules it is illegal if you are trading in any sort of overseas marin trading products. Am raj am from south africa,i want to do binary options.which site is better to do this pls sugesst. (P.S. 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). Hi Rajendran, I read your reply on some blog that there are legal possibilities for NRIs to trade in Forex. NRIs can trade in forex freely once they reside outside India. It is only when they return that the problem starts.

best time to trade gbpjpy

I think none of us, who read the article and comments here, want to cheat the government to hide the taxes ; but the government policy is forcing us to do so. It is illegal to trade with them as there is no Tax involved. It is good to trade only with NSE and MCX exchanges. Anyways trading Indian CFD’s is illegal anyways with these FX brokers. You can use those tools only for analysis purpose but trading with them is purely considered as illegal actions as per RBI norms. Mr. Ram u wrote so many things about rbi ,govt, this and that, but u did not reply the main question asked ?

Indian Finance Minister Issues Warnings Regarding Crypto

Well i do respect our indian government but you know very well about the difference of indian market and forex markets, as you worked in both of these market. Anything you are trading with NSE, BSE, MCX exchanges are safe. 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. If purchasing DOLLAR with RUPEE and then selling for profit is illegal, then they allow trading in USD/INR, GBP/INR, EUR/INR pairs ?

  • No week off you have to work and attend training programs on Saturday and Sunday.
  • In this method you will find a foreigner who will post fake freelancer jobs on freelancing sites.
  • With an average daily trading volume amounting to $5 trillion, the global stock market doesn’t even come close to this.
  • Traders look in the direction of moving averages and open positions according to them.

Though these will not work for big amounts at a time…. However to be honest I myself has not tested any one of them. W need a solution, not endless discussion of the same topic. Individual can spend upto $ / anum in any kind of foreign exchange. Hi Sanj , you are the first one here who declared openly that he / she is a trader . Can you please share us more information about this .

EURCAD, CADJPY & AUDUSD and more Currency update for our paid members by SMS.

Yes you are right AJay, Trading in Indian cross currencies are purely legal. You are right sir, they are not registered or trade with any of the exchange. Finally, the dollar strengthening came to an end from a short term perspective. The dollar index tracks the relative value of the U.S. dollar…

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.

Here you can highlight pair with a correlation greater than a predetermined value and to indicate a timeframe for calculating the correlation. The closer it is to zero, the weaker the dependence. We are interested in strongly correlated pairs, with values close to 100% and -100% . As we know there are a lot of trading strategies in the forex market and it is crucial to identify the best one. To get a better idea of how to make money scalping forex, more precisely, let us go through them one by one. In scalping, you make small profits from the short-term price fluctuations of a currency pair.

Update Euro / Us Dollar (EURUSD) 2nd Target Blast…

You can invest in an Overseas company as it states here. But funds have to come from particular sources like RFC account etc. 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.

Why is Gbpjpy called the beast?

GBP/JPY. Called the beast because it has historically been volatile. Its other names include dragon, geppy, gopher and widow maker.

ASK – When you intend to sell a currency pair then bid price is considered, which reflects how much of the quoted currency you will get when selling one unit of the base currency. Simple and exponential moving averages will help you to find suitable entry points for opening and closing positions in the forex market. Using these strategies, a trader develops a set of scalping rules that help to take advantage of forex trading. What if I trade from an NRI frend’s account and if he transfers that money to my Indian bank account.

High leverages – a double-edge sword:

If you are planning a trip to Paris, to pose beneath the Eiffel Tower, you will exchange your Indian rupees for Euros. Prostitution in India Prostitution in India is legal under the Immoral Traffic Act but its related activities such as owning a brothel, child prostitution, etc have made it illegal. Forex is an abbreviation for Foreign Exchange. Forex trading, in its most basic form, is the trading of currencies from various nations against each other, such as the US Dollar vs the Euro.

Who is the richest forex trader?

  • Top Forex Trader – George Soros. George Soros has a current net worth of about $8 billion.
  • Second Place – Paul Tudor Jones.
  • Third Place – Joe Lewis.
  • Runner Up – Stanley Druckenmiller.
  • Runner Up – Bill Lipschutz.

But again, portability, limited supply and divisibility led to the downfall of gold as a currency. Currency trading in India is typically done through currency derivatives i.e. forex spot, forwards and futures contracts. By Deepika Khude Deepika Khude The author is a Certified Financial Planner with 5 years experience in Investment Advisory and Financial Planning. Her strength lies in simplifying complex financial concepts with real life stories and analogies. Her goal is to make common retail investors financially smart and independent.

The only issue is the route you will be taking to access them. As long are you take the legal payment processing systems in Forex trading, you will be safe for ever. In India Futures trading on Stocks is Both traded on NSE and BSE. 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. As I see it keeping forex trade illegal is just the bully mentality of the ruling class of India.

How to do Scalping Trading in Forex?

He deposited Rs 1,00,000 in his trading account. While the currency market in India is jointly regulated by RBI and SEBI, globally the currency market is way less regulated than the stock markets. The global currency market is dominated by banks and brokers, which can lead to scams, unfair price manipulations, counterparty risks etc.

best time to trade gbpjpy

The dealers authorized by the RBI can engage in such transactions. The foreign exchange market in India is composed of the Is Cargill the ‘worst firm on the planet’ “Spot and Forward” market. The forward market is active for a maximum period of six months in the Indian territory.

best time to trade gbpjpy

The Tokyo stock exchange is highly impacted by the news coming from China. This could be the best time to gain profit from GBP/USD trade. With these settings, the strategy lost $250.26 (25.26%) in four years and experienced a maximum drawdown of 27.64%. Using ATR to set a stop loss that adapts to the market’s volatility. For example, using a stop loss of 2.5 times the current ATR value. The safest way to apply a stop loss is to set it before you open your trade.

I am saying this because I have worked in this particular field in India. The so called forex broker companies like alpari, Harvest or any other just take client’s money and park it in foreign banks. Nobody knows where the money is being utilised.