Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

Bloomberg UTV : Forex Trading is Illegal in India : Critical Analysis

36 sec read

Very Recently we had a very critical study on Forex trading in India and its legality in India. Iam able to see lots of Forex Brokers Emerging in India and Lots of Traders in india doing marginal forex trading on International forex pairs like EURUSD, USDJPY, USDGBP,…etc. But if you are still not clear whether forex trading is illegal or not in india then here is the complete news covereage from Bloomberg UTV on the legality of forex trading. The 20 minutes coverage on Bloomberg UTV study clearly mentions that Indian Individuals trading in International Forex Pairs like EURUSD, USDGBP, USDJPY…etc are purely illegal

httpv://www.youtube.com/watch?v=Dsc7_rRawTQ
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Resident Indians’ overseas investments are currently restricted to $200 000 per annum by the Reserve Bank of India and investors are currently limited by regulations as to where they can invest. But definitely the investment should not be in the forex market segment.

If you are still doing forex trading in International currencies then rethink about it.

Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

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17 Replies to “Bloomberg UTV : Forex Trading is Illegal in India…”

  1. sir i want to something about forex trading in india there are so many trading like forextrading working there acctivities and take money like one thousend 3 thousend 1 lakh and give some % of return and this type of working doing in india its is worng or right can u explain this topic …sir

  2. Dear Mr. Rajendran:

    First of all, thanks for the post regarding legality/illegality of forex trading in India. I would be happy if you can resolve my queries, because I was looking forward to open an account with a forex trading company. My queries are as follow:

    While surfing on the net, I found so many Indians trading forex with agencies outside India. Do you mean, they are all at risk of being imprisoned?

    Secondly, if banks are advised to be due cautious about such transactions, how are these people depositing their forex trading accounts?

    Is there any legal way to trade forex from India?

    Thanking in anticipation,

    1. If you pay in Indian rupee it will not be any problem. If you pay directly by your credit/debit card it will goes in Dollar which impose burden on foreign currency balance of India and also tread deficit, because traders always pay you in INR not in DOLLAR. If they pay to you in Dollar your govt will give you awards.

  3. I am planning to start Forex trading on my own in India with Indian broker , kindly advice me to do some fortune .

  4. Is there any legal way to trade forex from India?

    What is current rules and regulations. Currently, Is there any change .

    A Broker from Ahmedabad is in my contact from some time and he convinced me to trade in overseas forex markets. He also promised me 5 to 10 % retruns per month on my investment .

    what should i can do. Plz advice me .
    Thanking You.

  5. hi my name is hema latha i have opened an account in zxmarkets.com. now i had doubt whether it is safe or not. plz help me.

      1. Do MT4 or MT4 and all sophisticated indicators with market data are available for Indian currency pairs? Since platform is the key.

    1. It is illegal for a Indian service provider, Broker you can tread online with any foreign broker. Second thing don’t pay in foreign currency otherwise you will be charged under FEMA per RBI regulations. Most important DON’T TRADE WITH LOWER ACCOUNT BALANCE TRADE ONLY WITH MIN 500 or 1000 DOLLAR ACCOUNT WITH LOWER SPREAD (MAX 2 PIPS, Some brokers charge even 5 pips).
      After earn money (You can double even in one month) ready to explain Income Tex Department from where you earn this money.

      GOOD LUCK, HAPPY TREADING.

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