Is FOREX and Binary Option Legal In India in RBI Tearm

[howardroark]

I'm trading with ...
Dukascopy for huge account sizes (50,000$+)...
Hantec Markets for large account sizes (25,000$+)
Lite Forex for all other accounts
Fx is my bread, butter and scotch since 8 years and there is literally nothing (I'm not boasting) that I do not know about / in FX trading ...
Feel free to ask any doubts ...
I'm more than willing to help ...

 

[PPM]

@HOWARD
I want to know few things abt forex -

Are you trading from india? How do you deposit and withdraw such large amt of money on a periodic basis? Any tax and legal implications of trading and money transfer one must know about and how to handle them?

 

[howardroark]

@HOWARD
I want to know few things abt forex -

Are you trading from india? How do you deposit and withdraw such large amt of money on a periodic basis? Any tax and legal implications of trading and money transfer one must know about and how to handle them?

I trade from Bangalore, India.
For Dukascopy, I use my parents' account, who are NRI's, settled in London.
For Hantec and Lite Forex, I use both Cash transactions and NEFT / IMPS ...
My auditor used to work for a FX broker 12 years ago ... He knows the rules, loop holes, riders, exemptions etc. I have to just provide my bank statements ...
He takes care of the filing etc ...
I have been filing returns since 7 years ...
Hope it helps ...
Feel free to ask any doubts ...
Regards,

 

[ranjancom2000]

Hi howardroark

I am really saying my fried has custom made auto trading bot he was doing great just impress to see the result he is ready to give me bot also but i need use my account and fund and i need to provide 40% of profit to him.

 

[howardroark]

I can make a Robo .. im married to Salma Hayek ... Angelina Jolie ... Aiashwrya Rai ... Do you want?
Profits r made with analysis .. not with robo's ...
Its yr money at da end of da day ...

 

[ranjancom2000]

Hi howardroark,

How much your daily income from Forex. I am new to Forex basically iam CPA and blackhat SEO making $$$ a day I work most on automate BOT. I am just asking forex will not work in automate BOT or you don’t have experience on automate BOT.

 

[pannet1]

I'm trading with ...
Dukascopy for huge account sizes (50,000$+)...
Hantec Markets for large account sizes (25,000$+)
Lite Forex for all other accounts
Fx is my bread, butter and scotch since 8 years and there is literally nothing (I'm not boasting) that I do not know about / in FX trading ...
Feel free to ask any doubts ...
I'm more than willing to help ...

Dear howardroark,

You are GOLD here in TJ. Thank you for providing this thankless job. What is the rationale behind selecting the brokers. Let me try ...

Dukascopy (I read you want more money to be safe with the swiss bank off shoot)
Hantec Market (Why you need two .. may be something to with swap / spread .. I am just guessing here).
Lite forex (for all other accounts means .. even smaller account sizes ?)

Hantec Market and Lite Forex .. since when (date ?)

Sorry for too much question. I burnt $2500 in a period of two years with the bucket shop tradersway. Well I don't want to blame broker for my stupidity

 

[pannet1]

Hi howardroark

I am really saying my fried has custom made auto trading bot he was doing great just impress to see the result he is ready to give me bot also but i need use my account and fund and i need to provide 40% of profit to him.

I would rather say .. if you ask me .. to give him 51% and use his account too. :rofl:

 

[princy01]

I trade from Bangalore, India.
For Dukascopy, I use my parents' account, who are NRI's, settled in London.
For Hantec and Lite Forex, I use both Cash transactions and NEFT / IMPS ...
My auditor used to work for a FX broker 12 years ago ... He knows the rules, loop holes, riders, exemptions etc. I have to just provide my bank statements ...
He takes care of the filing etc ...
I have been filing returns since 7 years ...
Hope it helps ...
Feel free to ask any doubts ...
Regards,

So are taxes income and other are less in forex?

What are the advantages compared to India stock exchanges?

 

[ranjancom2000]

I would rather say .. if you ask me .. to give him 51% and use his account too

He is doing blackhat i don't know how but he needs more account. It will trade on multiple account on each account it only do 4 trade. But each we can make 2K average per day profit