anyone trades usdinr here ?

#1
Hey guys ,
I was thinking of jumping into the ocean of forex as i seem to be trading equities well .
Wanted to know if its legal to trade in india and does anyone have a post or a book or a link which would explain me abt forex trading ?


Regards,

Fudge
 

manishchan

Well-Known Member
#2
Hey guys ,
I was thinking of jumping into the ocean of forex as i seem to be trading equities well .
Wanted to know if its legal to trade in india and does anyone have a post or a book or a link which would explain me abt forex trading ?


Regards,

Fudge
Trading forex for Indian resident is illegal. You will, however, find many ppl offering you to trade forex but don't fall in that trap. Coz they will help you trade and if can make money also in ur account but will never be able to withdraw them. I have heard many such cases and know a person personally as well.

Better just trade in our market.. why you wanna take risk of forex..
 
#3
Oh thank you for informing sir .
i was under the impression that we could trade the INR pairs . but i guess i'll have to stay away .

What a shame , forex market being the most liquid and trending market in the whole world is unaccessable to us . (the usd/eur pairs etc...)


Thanking and Regards,

HedgeFudge
 

TraderRavi

low risk profile
#4
Oh thank you for informing sir .
i was under the impression that we could trade the INR pairs . but i guess i'll have to stay away .

What a shame , forex market being the most liquid and trending market in the whole world is unaccessable to us . (the usd/eur pairs etc...)


Thanking and Regards,

HedgeFudge
you can trade USDINR, EURINR, JPYINR & GBPINR in NSE currency segment.
 
#6
oh . thats good :)
Thank you TraderRavi and Timpass .

Coould any of you guide me towards a thread / website where learning or info on forex trading is present ? (i was able to find babypips and forexfactory .. but looks like inr pairs are highly unpopular )


Thanking and Regards,

HedgeFudge
 

Rish

Well-Known Member
#7
oh . thats good :)
Thank you TraderRavi and Timpass .

Coould any of you guide me towards a thread / website where learning or info on forex trading is present ? (i was able to find babypips and forexfactory .. but looks like inr pairs are highly unpopular )


Thanking and Regards,

HedgeFudge
INR pairs are popular and liquidity is also good.
 

raul12

Active Member
#8
you can trade USDINR, EURINR, JPYINR & GBPINR in NSE currency segment.
Pls keep following things in mind before investing in above pairs:

1. Out of the above 4 pairs only USDINR has good liquidity and rest has comparatively low liquidity.
2. Unlike in major forex pairs traded globally, USDINR pairs price is very prone to intervention by RBI which usually makes a big impact on your holdings and that is something which is beyond your control.
 
#9
Thanks for the info Rahul . Yes , i was thinking of trading usd/inr only . But i am kinda new to forex , and i searched for threads which contain forex trading info on this forum , but unable to find any .

Hence my question asking pros on this forum about it . :)


thanks and regards,

Fudge