Any Forex Brokers in India ?

[fxgood]

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.

Regulated in India by whom RBI or SEBI or FCM?

 

[preetksgill]

I would doubt any genuine forex brokers in India. All brokers claim to be genuine but have registered offices in offshore countries like cyprus and BVI, belize. Please beware of this companies as offshore based companies are scams and will make a run with clients money sooner or later.

Only trust countries who have strong credibility like canada, US, UK baed brokers.:thumb:

is a broker registered in jhannum good ?

 

[fxgood]

preetksgill you have got plenty of time it seems asking this silly questions. Only one answer what an idiot.
:thumb:

It seems you work as one of the brokers who operate thru offshore companies. ?

Is trading with offshore broker is illegal, i wonder it is not, even citibank have offshore operation for taxhaven and many other mnc's does

 

[fxgood]

It seems a lot of people on the forums are not aware the difference between corporate and retail clients. All mnc's are corporate clients and can have offshore operations for hedging their risk! There is another million ways a corporate can have offfshore op's

I am talking about legality of offshore regulated brokers eg: FSC regulated by Mauritius is not a bad regulation and FSA doesn't meant its too good either.

 

[mayank111]

hello i want to start forex trading can anyone tell me how can i start it and in india which can provide forex trading..please reply

 

[robkey]

Forex cant be traded from India . ITs illegal .

More info : http://articles.economictimes.indiatimes.com/2011-02-21/news/28618054_1_forex-trade-portals

 

[Bhulokeshwar]

fxcentral.net.banglore based

 

[jessica_30]

Thank you for sharing the information. It adds to my knowledge.

 

[naga_thetrader]

hey, don't fund for forex trading. there are hundreds of competions running accross simply paritcipate in them, win to receive real money a/c and then you start trading like i did in FEB. visit http://www.dukascopy.com/tradercontest/?action=blog&trader=nagarajaadiga&month=201102 and you test your skill

 

[hyraj]

Hi friends,

I saw so many debating about legality of forex in India. Just for you informations i personaly visited HDFC bank amd discussed the issue wiuth the manager at Vasai (E) branch. She said after confirmations from her seniors that any one can trade in forex .
She gace me a circular copy of RBI which states that any one can invest up to 25000 USD per year . The copy of the circular can be found on RBi site at

http://rbidocs.rbi.org.in/rdocs/Notification/PDFs/51175.pdf Please do your own home work about this document.


As far as choice of broker is an issue, there is no broker from India who will provide you a plateform for forex trading.
One has to rely on offshore broker only.
Now aboput the brokers , please do you own research and choose youor broker. I will prefer that one must open an a/c with US based broker who is regd with NFA. I will prefer CMS, due to high leaverage and hedging facility.


Hope this will be helpful to those who are intrested in trading forex.


Happy Trading

Nice and very transperent info about the legal info provided by dilse

Besides the clear circular attached/link_provided by Dilse....y agn there is dilema and confusion among Indians to open FX trading a/c....as this issue is discussed so many times under various threads"Forex Trading is Leagal/Illigal in India"?
Coz me too is stiil in confusion whtr i shud go for a/c opening or not?

I hope Dilse will help.

~~hyraj