Looking for an IB/FCM to be able to trade International Futures

[ag_fx]

Hello everyone,

Does any one out there knows of any Indian IB(Introducing Broker) which is offering retail client accounts for trading Index and Stock futures in US?

I am interested in opening an account to trade primarily Index futures.

Regards

Ankit

 

[pasha]

Indian brokers do not allow margin/intraday trading in US markets.

 

[ag_fx]

Indian brokers do not allow margin/intraday trading in US markets.

Thanks for the reply Pasha. But I was not referring to Indian brokers...I was talking about an IB operating in India. an IB is different from Indian brokers.

i know Kotak Securities recently tied up with Saxo Bank to provide offshore US trading equities. They are an IB for Saxo. That ways....

 

[pasha]

Thanks for the reply Pasha. But I was not referring to Indian brokers...I was talking about an IB operating in India. an IB is different from Indian brokers.

i know Kotak Securities recently tied up with Saxo Bank to provide offshore US trading equities. They are an IB for Saxo. That ways....

Spoke to Kotak some time ago, there are no derivatives on any foreign market :annoyed:

 

[ag_fx]

Spoke to Kotak some time ago, there are no derivatives on any foreign market :annoyed:

Thats what the confusion is..On One hand you have FX brokers setting up their shops in India(Alpari, Forex4you, FXopen) and offering new accounts to indian customers. And on the other hand we have this dicey stuff for futures.

I got my hands on this link from some other forum. Read it carefully, it says commodity derivatives allowed. Now, if RBI allows commodity derivatives, how come they can stop futures on indices?

http://www.rbi.org.in/SCRIPTS/BS_FemaNotifications.aspx?Id=155

 

[pasha]

In the end, what the broker says is law and we are a tiny minority who want US accounts.
Fact is that trading there is far more potentially profitable, so the brokers want to restrict access to areas that give them the maximum commission.
Why even provide F&O when the average investor doesm't know what it is?

 

[pasha]

ICICI has index options, so at least they are ahead of the rest.

 

[ag_fx]

In the end, what the broker says is law and we are a tiny minority who want US accounts.
Fact is that trading there is far more potentially profitable, so the brokers want to restrict access to areas that give them the maximum commission.
Why even provide F&O when the average investor doesm't know what it is?

I strongly disagree...Even what RBI says is not a LAW....Laws are to be passed by constitution and parliament...who the hell are brokers to make laws :annoyed:

And I dont think its about commission. Its more about ignorance of Indian brokers who are not doing the right stuff. Why is that we need foreign companies like Interactive Brokers and Alpari to set up their shops here and then we wake up to realize there is a potential possibility given away.

 

[ag_fx]

ICICI has index options, so at least they are ahead of the rest.

Index options? for what all indices? Can you provide some relevant link please.

 

[pasha]

http://content.icicidirect.com/OtpTrade.asp