Hello Friends,
I am new to forex trading and only practise in demo account.
In demo account i get small profits and wish to open a live account.
For that i apporach my bankers(Kotak Mahindra Bank) to open A/C with wire transfer facility. Bank manager told that, as per RBI rules any Individuals cannot invest directly in forex trading (currency trade) and only banks&financial Institution do forex trade.Also he told that invest in foreign shares are allowed for Individuals directly.
Please guide me in this matter and give proof to open forex trading by Individuals is allowed in India.
Expect your help.
Thanking you
Rgds
mduclassic
I am new to forex trading and only practise in demo account.
In demo account i get small profits and wish to open a live account.
For that i apporach my bankers(Kotak Mahindra Bank) to open A/C with wire transfer facility. Bank manager told that, as per RBI rules any Individuals cannot invest directly in forex trading (currency trade) and only banks&financial Institution do forex trade.Also he told that invest in foreign shares are allowed for Individuals directly.
Please guide me in this matter and give proof to open forex trading by Individuals is allowed in India.
Expect your help.
Thanking you
Rgds
mduclassic