Hi to everyone in the forum
I have been trading on both the equity market and commodity market for some time now and would like to progress into forex trading.
However due to some ambiguous rules framed by both the govenment and RBI it seems that it is illegal to trade on the forex market as it is margin trading.
I have seen some members mention ways to circumvent the RBI regulation but this tantamounts to breaking the law as it is framed.
The main drawback that all the avenues discussed have not taken into consideration is that Forex trading does not happen on any recognised exchange but is a trading product of an OTC market (over the counter market) I would appreciate it if some one can clarify this so as to not break the regulations
My personal belief is that this restriction is absurd and the government and RBI should allow Forex trading in the format that is done world wide.
I have been trading on both the equity market and commodity market for some time now and would like to progress into forex trading.
However due to some ambiguous rules framed by both the govenment and RBI it seems that it is illegal to trade on the forex market as it is margin trading.
I have seen some members mention ways to circumvent the RBI regulation but this tantamounts to breaking the law as it is framed.
The main drawback that all the avenues discussed have not taken into consideration is that Forex trading does not happen on any recognised exchange but is a trading product of an OTC market (over the counter market) I would appreciate it if some one can clarify this so as to not break the regulations
My personal belief is that this restriction is absurd and the government and RBI should allow Forex trading in the format that is done world wide.