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  #11 (permalink)  
Old 27-10-2011, 01:29 PM
bharatk8 bharatk8 is offline
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Amarnath,

Legal routes?Pl. elaborate.
Originally Posted by amarnath View Post
There are several other legal routes to trade forex

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  #12 (permalink)  
Old 03-11-2011, 01:27 PM
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There are many people who are trading in international forex markets.
Bharat-- Try consulting forex brokers to find out what are the other legal ways to trade. They will be of more helpful to u, as i suppose diff brokers will have different ways.
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Old 07-01-2013, 10:00 AM
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http://rbidocs.rbi.org.in/rdocs/Noti...PDFs/51175.pdf
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Old 08-01-2013, 09:35 AM
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U can trade inr pairs on NSE.
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Old 29-04-2013, 02:58 PM
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Default Trade Currency Pairs Through NSE

We can trade currency futures and options at NSE in pairs (USD, EUR, GBP and JPY). Get into contact with a good broker as various brokerage companies deal in it, talk to one who has thorough knowledge relating to your query and then go for trading. See the trading platform, account to be opened (Dmat can work) and brokerage fee.
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Old 30-04-2013, 11:52 AM
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Originally Posted by SNVFOREX View Post
Hi This Is SNV,
I Tried To Invest In A FOREX Comapny Named Activtrades...but when i tried to deposit my money , then i came to know that Money transfer overseas for the reason for trading is banned and those transactions r said to be illegal.....hence it is a RBI rule all banks r following it.....So can u guys suggest a otherway to deposit my name to the company.....! waiting for ur reply ! Am From CHENNAI ,INDIA.
RBI REGULATIONS :

This topic has been discussed umpteen times here!

Foremost, let me clarify RBI stand in this regard.

What is Illegal : To transfer foreign currency outside INDIA for purpose of Trading.

What is Legal : Trading in any markets as long as it does NOT involve transfer of foreign exchange. Any foreign currency transfer that violates FEMA regulations can get you into civil case with the authorities (ie;Fines/Penalties).

Options available to Indian Traders : Almost None. I'm not aware of any indian broker or International Broker who will allow you to trade Forex Spot/Futures with a account funded with Indian Currencies. The only option im aware of is to trade with instruments with INR pairs (USD-INR, etc).

How are Indian professional traders doing it : By having a proxy in foreign soil open a account for them offshore (or Indian account but funded by individual abroad). Some risk takers have funded such accounts using CreditCard or doing wire transfers (in small gradual amount). Such individuals have either a alternate source to route the profit back to India using illegal means or they simply are not wary of the powers of Income Tax dept.

In short, i would advise new traders to think deep before getting into Forex trading till the time RBI eases this limitations (im not too hopefull). Please understand that with Aadhar and PAN, RBI and IT Dept has track of all transactions that you do electronically or via bank.
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Old 25-09-2013, 07:40 PM
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RBI takes strict measures in Forex and CFD trading

http://www.marketcalls.in/forex/rbi-...arket+Calls%29
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Old 22-11-2014, 04:15 PM
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Originally Posted by pipeman View Post
There are several other legal routes to trade forex

Can you explain what are legal routes to trade forex(not INR paired derivatives on NSE)?
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Old 23-11-2014, 12:14 AM
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Originally Posted by NJ23 View Post
Can you explain what are legal routes to trade forex(not INR paired derivatives on NSE)?

Trade a prop account or trade someone else's account and receive a profit share.

Main thing is that you should not be transferring money from india to trade forex. So if you can get an account funded by someone from outside India, it should be legal. Best to ask RBI if doing this will break any foreign exchange rules.

-- no1lives4ever
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Old 23-11-2014, 08:26 PM
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Originally Posted by no1lives4ever View Post
Trade a prop account or trade someone else's account and receive a profit share.

Main thing is that you should not be transferring money from india to trade forex. So if you can get an account funded by someone from outside India, it should be legal. Best to ask RBI if doing this will break any foreign exchange rules.

-- no1lives4ever

Yes, but most of the prop shops ask you for funding. So, I guess that too will be a violation of FEMA.
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