How to trade in COMEX(bullion)?

Discussion in 'Commodities' started by tradersuraj, Jul 2, 2011.

  1. tradersuraj

    tradersuraj Member

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    Hi friends and fellow traders,

    I have been trading Bullion on the MCX for a while now and have also been following COMEX (gold, silver). I want to trade on the COMEX too, so could anyone guide me as to how to go about it?...

    I also contacted a broker in New York who accepts international clients to trade on the COMEX, but my question is about margins

    1] It costs $8500 as margin for 1 lot gold and $25000 as margin for 1 lot silver which is huge. Now even if one can afford it, does RBI allow to transfer that kind of money to a broker abroad suppose if someone wants to trade in 10 lots silver which would come to $250,000 or almost Rs.1 crore?

    2] What about when you book profits? Would it be easy to transfer the money back to India?

    3] Is there a local broker/dealer here who allows to trade on the COMEX and how would the pay-in/pay-out be?..in dollars or rupees?


    I apologise if the questions sound amateurish, but i would really love to trade on the COMEX and am not finding any answers.
     
  2. sumeetsj

    sumeetsj Well-Known Member

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  3. tradersuraj

    tradersuraj Member

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    Sorry!...Preference Changed!
     
  4. kt100

    kt100 New Member

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    as far as the word goes, one cannot trade in margin money through a foreign broker in forex. since the dynamics are essentially the same( transfer money, leverage, conversion into dollars) it would seem that the same rule applies to trading commodities through a foreign broker.

    and there is no indian broker offering comex trading. though if u have your mind set, you can try interactive brokers. they do have a office ( i think) in india and would help you in all issues you have asked above.
     
  5. Vish4u85

    Vish4u85 New Member

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    Hello Suraj,

    This is Vishal Pateliya. If you want to trade in COMEX GOLD SILVER or CME EURO/USD pair or NYMEX CRUDE then contact me on 07359100097.

    I will serve you at your best.

    Thanks

    Vishal Pateliya.
     
  6. rgrforex

    rgrforex Member

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    My advise is not to invest that much huge money to somone in other country even without knowing his face and who he is ...If there is any problem , where and who will u ask ?

    Even if u make profit , whats the guarantee he will pay you the money ..and always theres a huge risk playing with huge money and RBI ..

    With that much money you can easily play in Gold and SIlver in MCX itself trading in 3-5 lots ...you can get a awesome profit per day with each tick change ...
     

  7. bet00ST

    bet00ST New Member

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  8. SPREAD.TRADING

    SPREAD.TRADING New Member

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    Dear Vishal,

    Im looking for the same to trade in comex gold & silver please let me know details. @ nehago15@gmail.com
     
  9. ashok1976

    ashok1976 New Member

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    hello friends I want start comex and mcx heading pls guide me about heading and pls give me details of brokers who provide comex and mcx I invest a satisfied ammount
    imcool_ak39@rediffmail.com
     
  10. ashok1976

    ashok1976 New Member

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    hello friends pls tell me about mcx and comex heading with curreny headge
     
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