Any Forex Brokers in India ?

[Furgaan]

Hi there,

I am an Indian trading Forex last 2 years. I have seen lots of Ups n Downs in my life but now am quite satisfied and happy in my life.

Wishing a very Happy New Year 2009!!!

Regards

 

[tirou]

I am an IB for an overseas company and can answer to user queries on margin investments.

I have asked permission from traderji if i can introduce my website here, should he allow, i will provide complete details on how to do it, in the legal manner.

Still you didn't got permission from traderji?

 

[amar_gr]

Hi there,

I am an Indian trading Forex last 2 years. I have seen lots of Ups n Downs in my life but now am quite satisfied and happy in my life.

Wishing a very Happy New Year 2009!!!

Regards

Can you give us details of your preferred broker ?
What are your experiences in txfr in & out of funds . How do you take care of taxation on profits ?

Have you tried an auto trading systems for forex ?

Regards & Thanks in advance.
Amar

 

[duster]

Service available ONLY to NRI's ????

Yes. It's due to the RBI regulations. Resident Indians are not allowed to purchase foreign currency for margin trading. We hope that in the future these rules will be softened somehow...

 

[pramitbrahmbhatt]

Hi Desi

When you goto your bank, you need to fill in the form for transfer where you need to declare the reason for transfer. Regarding broker i can say go with UK based companies which are regulated by FSA. simple reason for UK based is 38% of the world forex is traded in london.
Also the time difference is not as much as US.

Hello Pramit,
I found some really useful posts from you on brokers, funding etc. on this as well other threads.
I want to know what is the formality for funding the forex account from your Indian bank account account. I mean we just walk in the branch and fill out some form , if you can some details.
Also which Metatrader broker you recommend to business with in terms of ease of reputation, account opening, funding, etc. By the way which broker you are using?
Thanks in advance for your reply.

 

[pramitbrahmbhatt]

The logical solution to margin trading is when you are trading forex don't ask for any margin just use pure cash to trade. In otherwords, don't use 1:100 or any margin use only 1:1 margin account. By doing so you can consider it investment account.

Yes. It's due to the RBI regulations. Resident Indians are not allowed to purchase foreign currency for margin trading. We hope that in the future these rules will be softened somehow...

 

[duster]

The logical solution to margin trading is when you are trading forex don't ask for any margin just use pure cash to trade. In otherwords, don't use 1:100 or any margin use only 1:1 margin account. By doing so you can consider it investment account.

While absolutely true, Forex loses its benefits this way - many people want to trade Forex because of the leverage, because they can make good money with small investments...

But sure - trading 1:1 is absolutely legal under LRS scheme. Probably, it's fine only for big investors (from 50,000+ USD).

 

[indiaforex]

hi
as an individual entity (resident Indian) you cannot deposit in INR for OTC transactions within india. OTC is not yet open for individuals in India. Once it is open, then you will b able o transact by depositing IR with the broker. Currently you can trade only INR/USD by remitting INR deposit. For interntional curency pairs, you have to wire (TT) the money in foreign currency to n overseas broker.

 

[vinayji]

Hi,
I have found one. They take indian cheques/cash and pay in cheques/cash.
Trading for the last three months.
Vinayji

 

[preetksgill]

I am going to start a brokerage based in India, with registered office in India and regulated in India with direct deposit facility, no need for bank wire, with spreads as low as 0.4 pips on eurusd and 1.2 pips on gbpusd, STP

Just taking time with setting up server clusters, and some legal bottlenecks



Final offering is subject to legal costs involved in operations.

When I begin, you will find my paid ad banners all over the net.