Seniors Please help
- Thread starter tradetolearn
- Start date
Yes he mentioned using debit card instead of credit card(coz of st charges). First decide which broker you want to go, then check out deposit options, there are many like bank wire, e-currencies, local deposit(only exness). Each one has pros and cons so investigate before using, more info you will get with the ccare of the broker of your choice.
sir i have checked all things and i know the options, i just wanted to know what would be the best one , jahan sir mentioned debit card, now that option is gone, what is the next best one where the money is also safe to transact and i don't get into trouble with anybody regarding forex trading. ?? Pls give straigtfwd ans .
See all options which are enlisted on website's deposit options page are safe.
Its just how you execute them conveniently. Do the following:
1. Debit/Credit card: Use Icici/Axis/HDFC International Debit card(check with your broker regarding this some are still working.
2. Use MB(skyrill), a bit complicated process requires identification but safe.
3. Webmoney.
4. Exness (Local deposit) Good for starting initially and last resort if other don't suit/work for you.
5. NRI relative(ultimate option if he is willing)
Its just how you execute them conveniently. Do the following:
1. Debit/Credit card: Use Icici/Axis/HDFC International Debit card(check with your broker regarding this some are still working.
2. Use MB(skyrill), a bit complicated process requires identification but safe.
3. Webmoney.
4. Exness (Local deposit) Good for starting initially and last resort if other don't suit/work for you.
5. NRI relative(ultimate option if he is willing)
Ashu sir by 'safe' i meant that i should not get into trouble with banks or RBI and other stuff regarding legality of forex trading.I did not mean that i will lose money while transaction.
I can go with card or MB but it involves wire transfer. I have met people who told me that during wire trasfer bank calls u and asks various questions regarding the money.
I want to be sure with the method i choose so that i should not get into any trouble.
I would request u , jahan sir and any other senior member who is doing all this Pls guide what to do ??
I can go with card or MB but it involves wire transfer. I have met people who told me that during wire trasfer bank calls u and asks various questions regarding the money.
I want to be sure with the method i choose so that i should not get into any trouble.
I would request u , jahan sir and any other senior member who is doing all this Pls guide what to do ??
Hi,
Yes first statement was a bit generic statement, but please read second statement which I have made taking the whole discussion from our point of view. I am no one to guarantee you anything, we do it with our own understanding of law applicable so far and its enforcement. As far as I can comment for retailers trading fx, keep the transaction amount low and nobody will ever question if its under your tax free limit, so how you make it reflect in your bank account is your lookout. I have enumerated ways to make forex deposit and withdrawal happen, these are the only possible combination so far. See doing transaction online in $ is totally legal, people buy sell goods and services online and nobody goes in length and depths unless its a huge amount and/or there is a former complaint against you.
Yes first statement was a bit generic statement, but please read second statement which I have made taking the whole discussion from our point of view. I am no one to guarantee you anything, we do it with our own understanding of law applicable so far and its enforcement. As far as I can comment for retailers trading fx, keep the transaction amount low and nobody will ever question if its under your tax free limit, so how you make it reflect in your bank account is your lookout. I have enumerated ways to make forex deposit and withdrawal happen, these are the only possible combination so far. See doing transaction online in $ is totally legal, people buy sell goods and services online and nobody goes in length and depths unless its a huge amount and/or there is a former complaint against you.
And the options which I have given, first two seem to be not working, so you have to go through the last three. And for small amount just do it if you really want to trade, further discussion won't help apart from more convincing you by me 
as you can see I'm not representative just a trader.
All the best.
as you can see I'm not representative just a trader.All the best.
another way is the USE of moneybookers, i know of indian brokers doing it this way, and it will help you when withdrawing profits, though there is a small fee, but around 2-3 dollars per transaction which is not bad at all, i suggest opening an account in dollars not euros, and funding it then funding your broker hotforex, but first make sure all verifications are made on moneybookers before proceeding anyfurther so you wont have anyproblems in the future and best of luck.
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