Can i trade U.S E-Mini DOW Futures from India?

[throwawayacc123]

No i mean atleast i can trade DJIA with chicago broker?

you can , but how will you transfer the money from india to US?

 

[SrZnlu32]

Trading per se is not illegal. What is illegal is to transfer money outside India for any kind of margin trading.

ok so what does this even means margin trading? If you can explain in simple words please.
Can't we just maintain our margin and trade?

 

[SrZnlu32]

you can , but how will you transfer the money from india to US?

So wire transfer from India to broker is not allowed?

 

[throwawayacc123]

So wire transfer from India to broker is not allowed?

No.

For wire transfer you have to give a reason to RBI and you certainly cannot mention that the funds are for margin trading since you will be doing a direct wiretransfer to the brokers a/c in US. The bank will not allow you to do this.

 

[SrZnlu32]

No.

For wire transfer you have to give a reason to RBI and you certainly cannot mention that the funds are for margin trading since you will be doing a direct wiretransfer to the brokers a/c in US. The bank will not allow you to do this.

This is so Unfair man. I don't remember but They said that we can transfer $75k something annually without giving them reason, sorry if it's wrong i don't remember. I am just fed up with this RBI ****. This assholes don't want us to do anything.

 

[lemondew]

How can one trade US derivatives without transfering money to US? Its one and same it means u cant trade.

Or

You can trade for an american ask him to open an account and trade his account. Again tax will ve to be borne by him

Trading per se is not illegal. What is illegal is to transfer money outside India for any kind of margin trading.

 

[SrZnlu32]

How can one trade US derivatives without transfering money to US? Its one and same it means u cant trade.

Or

You can trade for an american ask him to open an account and trade his account. Again tax will ve to be borne by him

Idea seems good, But he can pay the tax with the account profits i am trading right? So he should have no problem.
And is it possible to have a offshore bank account and then trade US futures?

 

[deba72]

ok so what does this even means margin trading? If you can explain in simple words please.
Can't we just maintain our margin and trade?

This means you can't transfer money outside for all derivatives and forex trading. However you can invest in global equities upto a certain annual limit.

 

[deba72]

How can one trade US derivatives without transfering money to US? Its one and same it means u cant trade.

Or

You can trade for an american ask him to open an account and trade his account. Again tax will ve to be borne by him

You can trade from India. But can't transfer money. Suppose there is some money receivable by you from abroad or some NRI friend pays the money on your behalf. Net net, transferring money is prohibited but trading is not prohibited.

 

[SrZnlu32]

You can trade from India. But can't transfer money. Suppose there is some money receivable by you from abroad or some NRI friend pays the money on your behalf. Net net, transferring money is prohibited but trading is not prohibited.

I have some friends from USA and UK. Will talk to them about this then. Will send them the money and they'll open the account for me. It's just the tax, will ask them how much they have to pay.