Is this possible?

[Akshat Kaushik]

Hi,

You need to approach RBI and get clearance certificate otherwise in future you may face problems if you want to transact outside India. You better approach them that you were ignorant that forex trading is Illegal in India. And promise them that you will not do such thing in future.

Its important to get clearance certificate.

Regards

Thanks a lot

 

[Grules]

I was in touch with Markets.com recently as i was keen to trade forex and global stocks. According to them it is legal from INdia to trade. They infact have a helpline number based out of India. Originally they are based out of cypress.
Note : Since i am a INdian , they asked a Indian (based in cypress) to call me as my account manager. I have not opened a account with them yet as i am concerned on the USDINR conversion rates , which will eat away my profits more than the gains i will make in Forex

 

[kumars]

Citi bank mumbai branch

Yes...Citibank is closing the a/c without notice citing the RBI CIRCULAR.My friend have experience the same problem..:annoyed: were his a/c got closed 40 days ago....:annoyed:


anyhow there after no fx trading all stopped...And now relaxed from market tension...

 

[Akshat Kaushik]

I was in touch with Markets.com recently as i was keen to trade forex and global stocks. According to them it is legal from INdia to trade. They infact have a helpline number based out of India. Originally they are based out of cypress.
Note : Since i am a INdian , they asked a Indian (based in cypress) to call me as my account manager. I have not opened a account with them yet as i am concerned on the USDINR conversion rates , which will eat away my profits more than the gains i will make in Forex

What i know is that you can do trading in international stocks however as far as currency trading is concerned it is illegal,if u want to do forex trading you can do it with NSE only being an indian resident.plz check once before trading in foreign exchange market.