Attention! - Forex trading is illegal in India!

Status
Not open for further replies.
#51
dude,i think you are not going through your search properly.how could you say money rain dont have addresses of their offices.check out CONTACTS on their website or check out this link http://en.moneyrain.org/contacts/ they had their office in austria,newyork,russia,uk.they are in the top 20 brokers of the world.they will have there FSA LICENCE IN A MONTH ,WHICH IS HIGHLY REPUTATED IN UKdude check out and then get back..
I'm going through website of MoneyRain and cannot find any single address of any single office in _any_ country!

I personally would never trust my funds to a company that doesn't even publish their addresses, looks like scam!

Clients must always get: 1) legal name of the company 2) registered address. So in case of problems, they at least know whom to sue :)))

Alpari is definetely a much more serious company, but I hardly imagine how are they going to operate in India. We all know that there is no free market in the country and everything is already occupied by a little number of rich families (Ambani, Tata, etc). They will not let foreign companies come and work, I'm quite sure.
 
#52
dude i think you are not going through your search properly.MONEY RAIN had their offices in many parts of the world .they had office at russia,newyork,uk,vienna(austria),chicago,you can check out this link http://en.moneyrain.org/contacts/...or you can go to contacts directly on their websites .you could easily see complete addresses of their offices at the most posh areas.they are going to get FSA LICENSE IN UK IN A MONTH,WHICH IS HIGHLY REPUTATED IN THAT COUNTRY.i think you know about FSA. they are in the top 20 forex brokers in the world according to current ratings.dude check out ...gud luck.
I'm going through website of MoneyRain and cannot find any single address of any single office in _any_ country!

I personally would never trust my funds to a company that doesn't even publish their addresses, looks like scam!

Clients must always get: 1) legal name of the company 2) registered address. So in case of problems, they at least know whom to sue :)))

Alpari is definetely a much more serious company, but I hardly imagine how are they going to operate in India. We all know that there is no free market in the country and everything is already occupied by a little number of rich families (Ambani, Tata, etc). They will not let foreign companies come and work, I'm quite sure.
 
#53
dude i think you are not going through your search properly.MONEY RAIN had their offices in many parts of the world .they had office at russia,newyork,uk,vienna(austria),chicago,you can check out this link http://en.moneyrain.org/contacts/...or you can go to contacts directly on their websites .you could easily see complete addresses of their offices at the most posh areas.they are going to get FSA LICENSE IN UK IN A MONTH,WHICH IS HIGHLY REPUTATED IN THAT COUNTRY.i think you know about FSA. they are in the top 20 forex brokers in the world according to current ratings.dude check out ...gud luck.
Oh, you're true - I opened this page but didn't scroll down!

Yep, they got offices and phone numbers - sorry.

I look forward to their opening in India... as well as Alpari's.

Still wonder how are they going to manage deposits/withdrawals...
 
#54
I was googling for information regarding Reliance cooperation with CMC Markets and found this in the news:

http://economictimes.indiatimes.com/articleshow/1439116.cms
http://www.financialexpress.com/news/reliance-money-platform-to-help-offshore-trading/198057/

It seems to be true - Reliance is offering Forex trading through partnership with CMC Markets, and it seems that clients have to make international bank transfers.

It's clearly stated on CMC Markets website that they offer margin trading. So how does Reliance go around RBI's regulations?? Initially, when Reliance started working with CMC (in 2007), yearly Forex limit for Indian residents was 25,000 USD and margin trading was not mentioned in the RBI notifications - so that time it was fully permissible. But what about now?

Anybody got any idea?
 
#59
Hello All,

Is this limitation to trade Forex just for the USD/INR pair or in general to the Forex Trading itself?
This question was answered million times here.

You can refer to RBI's official website http://www.rbi.org.in to exclude possibility of misinformation.

In short, Indian Forex brokers can only offer USD/INR right now. EUR/INR is planned to be added later. Foreign brokers can provide both rupee pairs and other pairs.
 
#60
Hello Every one
INDIAN MEMBERS ONLY,

I receive many opinions on myposting of forex trading in INDIA.
I wish to insist again that RBI doesn't allow to send
money via wire transfer for reason of "ONLINE FOREX TRADING
OR CURRENCY TRADING" there is no where option in Form A2 of
Indian Banks,to remitt money for above reason. Also RBI doesnt
allow to trade it from INDIA.

Now, many says that to trade USD/INR, has they checked
about the spread?? Its 22$ per pip, it menans Rs1100/-
per pip, now pls let me know will any one try this pair on
their real money???compare to EUR/ USD???

When I met RBI officer in RBI Forex Dept. also that officer
suggested me to trade this pair, ( USD/ INR)
but immd. I asked or I noticed him
about the difference between USD/ INR and EUR/USD spread, I did ask
him this too...... the officer also kept mum on my this spread query...

I can suggest here that if any one wish to trade forex can trade and fund
by Paypal or credit card and with draw by the same way..... once u receive
money, bankers wont ask any question about money becoz u r receiving
ur money in Ruppee currency..... now ... u have a question how to face
Income Tax issue....

Take care..... make money be happy...:clapping:
 
Status
Not open for further replies.

Similar threads