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Old 09-07-2011, 09:09 AM
SNVFOREX SNVFOREX is offline
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eeky Is FOREX Banned In India ?

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 :
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Old 09-07-2011, 02:24 PM
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Default Forextrading

I believe Alpari is permitted and recognized by SEBI and they allow deposits in USD.
Would appreciate ur feedback after ur interaction with them.
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Old 11-08-2011, 03:57 AM
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Forex is fairly not banned in India. Yeah, try what Jebat mentioned.
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Old 11-08-2011, 11:24 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 :

There are several other legal routes to trade forex
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Old 03-10-2011, 04:58 PM
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I think you ajve nothinhg to worry about as far as you can easily open an account with any of off-shore forex brokers.
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Old 12-10-2011, 05:46 PM
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Hi SNVFOREX,

the government is looking for ways to legalise forex trading in the coming future. for now the trading has to be done by other means. (one can invest in futures/forwards, stocks, etc. only on paper) one can upto 2 Lac USD / year can use for transfers to international banks for trading purpose ( these has to be in dollars but off course) & such a transaction is encouraged by almost all the international brokerage firms who are operating in India. Also, the best way to find out is to personally speak to the brokerage firm u desire to trade with.

Just to put ur apprehensions to rest, there are several Indians who are trading forex and are making money. Just be careful & co-operate with your broker ( who definitely needs to be reliable & well regulated & has sustainable reputation in international markets )
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Last edited by forex_d; 12-10-2011 at 05:49 PM.
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Old 13-10-2011, 02:15 PM
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Forex can be traded and RBI is 1st central bank on earth trying to control what they can't, OTC market's can't be banned fundamentally

I will be happy if RBI focusing on controlling inflation...and money flow rather than peanut retail fx segment.
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Old 13-10-2011, 03:36 PM
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Originally Posted by amarnath View Post
Forex can be traded and RBI is 1st central bank on earth trying to control what they can't......

So true. These high officials making "policies" live in sprawling govt. bungalows (hence not affected by rising EMI), travel in free chauffered cars (hence not affected by high petrol prices or pot-holed roads).....
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Old 26-10-2011, 09:02 PM
Mayank Patel Mayank Patel is offline
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Forex Trading is not banned,but regulated in India.
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Old 27-10-2011, 12:29 AM
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i don't know but doubt it's banned in india cause i know some people form there who are trading actively with no problems. however, you may need to talk to activetrades to find out if they have other deposit methods or change your broker completely....all the best.
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