Lots to learn and advance. The very concept of cross currency trading is illegal and is prohibited. Kya pataa aise hi maze le rahe honge sabki. Far too many hassles have caused the community to become distressed about pursuing trading more seriously. The contract size will continue to be 1000 for all the new forex contracts. As I have mentioned before, Only INR pairs are allowed so far. What you are talking about is a broker who is a market maker. The cross currency trading in India is probably mummified issue! The matter seems to be pending with SEBI.
What do you think will be the risk for forex platforms when NSE launches this? Yes, we will workout a leverage that makes sense to traders of course. Keep in mind that these entities that you referred to are not regulated by SEBI in India. IPO is on the horizon so I guess the priorities have shifted. Please keep updating in the forum. INR account with Neteller and transfer INR abroad and deposit USD through Neteller abroad.
RBI have disallowed this. Suggest you wait for NSE to launch it officially and trade in a legitimate manner. Am a neighbour of Mr. If it is not legal what is the way out to get back the money and avoid any legal implications later. This has an inherent disadvantage if you want to trade international pairs. Moreover, in comparison our trading platforms shine brighter. Good that you are increasing awareness about this subject. Since as on date, it is illegal in India to do actual trading, eagerly waiting if it is being started by NSE. To my knowledge is illegal as it does not happen through Indian exchanges.
The time extension for the new forex trading pairs are to accommodate for the actively traded hours of the day. Do not fall prey to such schemes. The second major activity happens during the evening when the American markets open. It is best avoided. PM, it will not include the American trading hours. Annex to this circular.
FXB Trading has earned the trust of hundreds of brokers and traders as a result of its vast range of analytical tools. In the meanwhile, you can trade Indian pairs like USDINR and others. Modi ji ko aur unki office ko ye fyers ka page or comments dikaye aur mehsus karaye ke bhai log frustrated hai! And how about taxing. Wasim, CFD forex trading platforms are illegal in India. Rampage, why would we tell you a story?
Its now official one year! In this way it is legal, as US dollars in India are not used. How you came up with such thing? Thx for appreciating me. As we all know that traders in India have not been able to do forex trading in cross currency pairs legitimately due to RBI regulations. JPY is most active. INR RBI exchange rate.
Secondly, these platfroms are new age bucket shops because they are the counter party. Is it will be permissible as an Indian trader. Suggest you try using Fyers One to see the real difference. Hi there, I am in touch with NSE officials. Overnight positions can pose a risk management threat during times of great volatility and strong trends. He is giving 12 PDC of PSU bank. PM, Monday to Friday. INR RBI reference rate.
Whereas NSE is a legit exchange so you have counterparties. Nithin from Shimoga, Karnataka. Please understand that there are better and legitimate ways of doing things. Neteller INR account is located abroad and so INR to USD is done abroad in Europe and not in India which is perfectly legal. So effectively, they are betting against you. On April 20, 2016 a trader buys and sells 1 contract and holds till expiry. Their vested interests lie in making you lose! Cross rate is calculated by dividing one of the pairs by the other. Hope this post has answered all your potential queries.
We are very positive about this new initiative and will provide the necessary facilities to our clients to trade in this these new global pairs when NSE officially launches. Strike prices will be resolved by that date. If you trade with an ECN broker then they are not taking a trade against you and are simply providing you an oppurtinity to trade with different banks. India is dead country, there is no present all is past. No it is not legal to trade with international forex platforms. Ek product launch karne mein saal bhar lagaenge tho hamaari wat lag jayegi. CFDs are not known for the best reasons. You think a coin be having both sides alike?
Sirji yeh NSE waale nautanki baaz tho nahi kar rahe hai? Tejas Khoday, Love your Fyers Web. USD by trading only in EURUSD pair. Hello Tejas, Actually one person contacted to me by saying that he is trading in foreign currency platform EURUSD GBPUSD through liteforex company. The only reason Indian government does not allow marginal trading in international currencies because USD reserves in India will get over if Indians do marginal trading through international brokers. India in the wake of demonetisation. Now just because NSE is launching, they are taking their illegal competition seriously? You should ask for a SEBI registration no. Govt walo pe koi vishwas nahi. We were in a meeting with NSE officials just before I wrote the post.
They have several tricks under their sleeves to fleece your hard earned capital. Forex trading through a broker is legal in India? Because you brokers cannot give as much leverage. Recently, NSE has announced that it will launch cross currency pairs. Last Half Hour Weighted Average Price. Khoday sir thanks a lot for your so quick response to my post. If yes how do we know that the broker is licensed in India? Bhavik, just making the audience proactive about future developments. You are wrong about financial awareness.
They will be listing both futures and options contracts. loss of money in foreign currency will be converted using applicable RBI rate for the day. It is the business of CFD trading in forex. Many broker were struggling but you people are proving to a lot of good things to us. Neteller account which is perfectly legal as traders are not breaking any laws in India. It is important to understand why. Yeah due to the lack of law enforcement, this menace has survived many years.
Tejas Bhai NSE walo ko bolo ki USDINR move hi nahi karega tho trade kaise karenge? These forex contracts will be quoted and traded in foreign currency. How you doing Mr. The instructions contained in this circular may also be brought to the attention of the card issuing companies who may also be advised to remain alert against permitting payments for such unauthorized transactions. It works like a casino. Too many people get lured into it too not difficult. Overleveraging always kills the trader. RBI Circular dt on 10 dec 2016 what does it mean really? Thank you for the information as we know Currency markets being the largest market in the world.
It is really a great post, I need your advice if I could start with any of these following as I hope all of them are regulated by SEBI. Could you kindly suggest me any usd inr pair broker who provide market timing 24 hours. We provide valuable information on our website. They use to charge me for carrying forward position which I got to know was a scam after trading in Nifty and other futures through stock exchange. In India, only the big stuff matters. YEN are cross currency rates for India. Right now brokers in mumbai are calling the persons for cross currency trading by saying that the person will deposit money in rupees and recieve profit in rupees thru them. Ham sab khoday bhai ko leader bana ke koi PM MODI ko request kare ke bhai.
This is not a building construction work. USD are mainly active during European and American hours. Good to see you. Plz guide me if you can. NSE IPO as of now. Generally when there is leverage on the table, traders more often than not, make use of it. Futures contracts will have 12 months contracts available in addition to monthly contracts. If forex trading was illegal for so many years why was SEBI not arresting them? Am a forex trader here. Kam se kam EURUSD mein to kar sakte hain.
Things are changing fast. The circulars you quoted in your msg. JPY but the number of strikes will be the same for all these new forex pairs. It is not legal to trade with CFD based foreign brokers from India. So the actual truth is that excessive leverage is an obvious disadvantage. It makes much more sense. Take a look at the table below for more clarity. Nord FX is regulated. Yeh story bhi aise hi lag raha hai.
Trading via CFD platforms through MT4 is not the right way to invest your money. Besides, there is a crackdown on Binary options in several countries. The Indian government and securities regulator is very conservative and restricts you Indians from transacting in global markets. TEjas Khoday, like you said, I have traded with those scamsters before. Hence, by giving you unrealistic leverage in forex markets it is a sure shot income stream for them. PM on last trading day. Cross currency forex trading is not legal and CFD brokers who are doing it might come under the radar.
In addition, it supplies various types of trading platforms which allow traders to have full control of their trades. Sir i want to open online forex trading account with global broker like fxtm or etoro and want fund deposit through neteller as per the justification given by Mr Simon dated 11 Dec 2016. Once a thing is on its on. So, guys which stuff giving you good liquidity? As I said earlier, please ignore them. In that sense, it is like a casino. Instead, invest your money in stocks or trade in currency segment on NSE.
If i give withdrawal request to my Indian bank account is there any issue i might be end up facing. Checkout examples of how futures trades will be settled in all 3 forex pairs. Daily MTM shall be computed in US dollar but settlement shall be in INR. The new contracts will be introduced after the expiry of near month contract. CFDs will continue to exist in India but it is certainly not legit. In the absence of the last half hour trading, the theoretical price shall be considered.
Good to hear that you worked for zerodha. Contratulations to your team for achieving it as a young company. Can you go thru and tell us what they mean by 8th of august? Full of restrictions, forex trading is globally recognized and accepted but dealing in India is a big issue as there is a lack of willingness and awareness from your citizens. Leverage is lower compared to CFD platforms. Better trade something liquid like currency as well. CFD platfrorms which you mentioned are illegal in India.
FEMA, 1999 and take any action as may be deemed necessary. No hope no worry. INR pair especially during times when the currency trend is strong in one direction. There are some issues that concern these bodies and hence, the implementation is stalled. Japan are so unique? This is an illustration so you can understand better. With regards to Zerodha, they have the same license that we have. It is really highly appreciable.
There are always new things coming up but I promise you one thing that our cfd platforms have always existed in india and will continue to exist even after NSE forex trading starts!
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