Is E mini futures legal from India?

#2
Can indian resident open E mini futures account directly with any usa broker..? Is it legal./
future trading is legal "without using leverage or margin" same as NSE where no leverage is used ! if you use leverage on trading future then it is illegal
 
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#3
future trading is legal "without using leverage or margin" same as NSE where no leverage is used ! if you use leverage on trading future then it is illegal
With the use of leverage I mean Margin or margin call where you have to put the required money on the account if your equity goes below the required margin set by the exchange
 
#4
You can open a account with any futures broker in US.

But no futures broker accepts margin money through credit card. And no indian bank will allow wiring of about $3000 for average minimum opening balance for E-Mini. Remember brokers accept money only from your own 'same named' account, hence your NRI relative or friend can't fund your account. If you open a joint account with your NRI relative, brokers need an 'origin of funds certificate' from your bank certifying that both joint account holders deposited money in the joint account.
 
#5
Hello everyone, with respect to the above situation assuming everything is fine and the person is ready to trade, to which country should the trading taxes be paid (how often)? India or USA (as Emini s&p 500 is related to Chicago Mercantile Exchange)?

Thank You.
 

ram2010

Well-Known Member
#6
Hello everyone, with respect to the above situation assuming everything is fine and the person is ready to trade, to which country should the trading taxes be paid (how often)? India or USA (as Emini s&p 500 is related to Chicago Mercantile Exchange)?

Thank You.
question of paying tax is a secondary factor here,

since you can't trade in overseas exchanges from india, its illegal according to RBI notification.

Hope it clear now.
 
#7
question of paying tax is a secondary factor here,

since you can't trade in overseas exchanges from india, its illegal according to RBI notification.

Hope it clear now.
Hello Ram,
Many thanks for the reply.
If that is the case, could you please suggest the possible ways to trade Futures from India through Indian Exchanges?
Thanks.