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| Discuss Help regarding Money Transfer . at the Forex within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Hi desiraja It is not all a hard job to transfer money from bank account(india) ... |
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#11
4th August 2007, 05:25 PM
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Re: Help regarding Money Transfer .
Hi desiraja
It is not all a hard job to transfer money from bank account(india) to ur forex dealer (worldwide). Ask for outward remittance form or TT form from ur bank U have to fill the purpose of transfer.. ( just fill "investment of equity trading"..not forex trading) Here u have to mention a code.. ( S0001) ...((((0 -zeros)))) Dont forget to mention receivers(forex dealers) 1.bank a/c no 2. name of the bank 3.branch 4.address of the bank 5.SWIFT or ABA code u can collect these details from ur forex dealers... ask for the days tt selling rate of $$ In my expereince it takes only 2 days to reach (36 hours) my account in oanda... Caution : dont invest on offshore brokers,russian and eastern europe (not UK and france) brokers in my experience fxtrade.Oanda.com is good ..for all Donts trust offshore dealers....they are not legimate... Thanks Prabu 
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#12
6th August 2007, 06:29 PM
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Re: Help regarding Money Transfer .
Quote:
Hi Prabu, As on April 2007, India govt had put stop on investment on Fx, Is that not a major problem? How to manage that tax part? Thanks,
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#13
10th September 2007, 02:48 PM
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Re: Help regarding Money Transfer .
while sending/receiving of foreign currency in US$ is OK as per RBI, but pls make sure you have the IEC code (import export code) when u do that
If you dont have IEC code and send/receive foreign remittance, then its violation of FEMA act
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