In India, however, forex trading platforms are banned. While you can't trade directly in the forex market, you can trade currencies through. While you can't trade directly on the forex market, you can trade currencies through the stock exchange. Under the Foreign Exchange Management Act (FEMA), binary trading is not allowed.
While trading in foreign currencies is allowed, it does come with certain restrictions. Binary trading is not allowed under the Foreign Exchange Management Act (FEMA). Under the Liberalized Remittance Plan of the Reserve Bank of India, a person cannot use money transferred abroad for speculative purposes or to provide margin money for trade. Allows investments but on a delivery basis.
Individuals are strictly prohibited from electronic and Internet foreign trade. The reason is that it brings them high returns, but with high positions, the charges of imprisonment. Individual traders in India have also been warned by the RBI against online trading portals that offer these attractive high-profit results, but do not disclose to traders that they are getting caught up in illegal activity considered by their state. India is a country with different cultures and a constantly growing economy.
In India, currency trading (forex) is a new platform with greater possibilities. Forex trading is not entirely legal. Only currency exchange including Indian Rupees (INR) is allowed. The weakness of the INR against the US dollar is the main reason for this restriction (USD).
Yes, Forex trading is legal in India. In fact, Forex has become a daily routine of many Indian lives. The Securities and Exchange Board of India (SEBI) is the body responsible for the forex trading industry. SEBI regulates all forex brokers in India, regardless of whether they are onshore or offshore brokerage firms.
Therefore, forex trading is legal in India and you can feel safe with SEBI regulated Forex brokers. Forex trading in India is legal. However, the scope of currency trading in the country is limited due to strict regulatory restrictions. Traders can only trade currencies with regulated brokers.
With the exception of three cross-currency pairs, traders cannot trade any currency pair that does not involve the Indian rupee. At this juncture, due consideration should be given to the fact that under the Foreign Exchange Management Act (FEMA) 1999 or the FEMA Act, you may face imprisonment or be fined for illegally trading Forex in India. Rajendran is clueless about a lot of things and is only scaring others based on the RBI circular that says about currency trading. Forex is a highly leveraged trading product and not many people know what they are doing and most brokers offering these promotions know this.
As an Indian citizen, as long as traders trade through any specific Indian brokerage that gives access to Indian exchanges such as NSE, BSE and MCX-SX, and also allows access to currency derivatives, transactions made for trading are entirely legal. Understand that the account is yours, the money is yours, I am not going to give you a single rupee, but it is your account, and I am withdrawing all the profits and everything to my account, I am trading forex and everything that is possible and I am heading to India. Therefore, it is clear that the RBI is banning the forex market just to prevent Indians from being scammed by forex brokers and to prevent the outflow of INR to foreign countries. The RRBI has made foreign exchange trading legal in India only if investors invest in currencies authorized by the RBI and the SEBI.
The government cares about its citizens and wants to protect them from falling into big losses, this is why currency trading is illegal in India. I want to trade on the binary market, individually it is illegal I can trade with a company or under another trade name. I want to trade currencies located outside India through money brought to India (opening a company in India). Identify well in advance the point at which you will withdraw from a trade or the point at which it will no longer be sustainable for you to trade.
Once registered, they ask us to trade on demo MT4 accounts and the trades are copied to their server via their EA (Expert Advisor). As is the case in many other countries around the world, Forex trading is allowed in India according to certain rules and guidelines. Can you name some genuine forex brokers from India, which allow trading in INR paired with another currency?. So what will happen if I invest in Forex, which has been arrested in India to date for trading Forex?.
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