Any broker in india that provide service to trade in international markets

[vagar11]

Any broker in india that provide service to trade in international markets.

What are the brokerage charges?

 

[gopalmohansharma]

Generally RBI does not allow Indian for intra day trading in international markets but you can buy shares and invest for long term. Try contacting hsbc etc who are global custodians.

 

[vagar11]

RBI should allow some of our smart traders(ST sir, Xray) to trade in UK so that they can bring back some money that the Britishers looted from our country.

 

[ndtrader]

I may be wrong here, but from what I understand, you can trade intraday on US equity markets for upto $200k. Just that no leveraging is allowed. Can anyone confirm if I am right or wrong?

 

[Newbie Day-Trader]

Generally RBI does not allow Indian for intra day trading in international markets but you can buy shares and invest for long term. Try contacting hsbc etc who are global custodians.

Could you provide a reliable source that says we can't do intraday on foreign stocks?

I may be wrong here, but from what I understand, you can trade intraday on US equity markets for upto $200k. Just that no leveraging is allowed. Can anyone confirm if I am right or wrong?

Yes, that's what I thought too since the various RBI links I've seen only mention margin trading being prohibited but I haven't seen any mention of intraday trading.

 

[cloudTrader]

I may be wrong here, but from what I understand, you can trade intraday on US equity markets for upto $200k. Just that no leveraging is allowed. Can anyone confirm if I am right or wrong?

Could you provide a reliable source that says we can't do intraday on foreign stocks?



Yes, that's what I thought too since the various RBI links I've seen only mention margin trading being prohibited but I haven't seen any mention of intraday trading.

In the below mentioned official link of RBI at Q No: 7 point no: ii & iv are related to trading.

https://www.rbi.org.in/Scripts/FAQView.aspx?Id=66

 

[Newbie Day-Trader]

In the below mentioned official link of RBI at Q No: 7 point no: ii & iv are related to trading.

https://www.rbi.org.in/Scripts/FAQView.aspx?Id=66

I've seen that before, it says remittance for margin trading & forex are prohibited; where does it say that INTRADAY trading in foreign stocks is prohibited?

And, I'm talking specifically about intraday stock-trading because according to this link, it seems that trading foreign stocks itself is perfectly legal.

https://rbi.org.in/Scripts/NotificationUser.aspx?Id=10192&Mode=0#1

6. The permissible capital account transactions by an individual under LRS are:

opening of foreign currency account abroad with a bank;

purchase of property abroad;

making investments abroad- acquisition and holding shares of both listed and unlisted overseas company or debt instruments; acquisition of ESOPs (the Scheme is in addition to acquisition of ESOPs linked to ADR / GDR and acquisition of qualification shares); investment in units of Mutual Funds, Venture Capital Funds, unrated debt securities, promissory notes;

setting up Wholly Owned Subsidiaries and Joint Ventures (with effect from August 05, 2013) outside India for bonafide business subject to the terms & conditions stipulated in Notification No FEMA.263/ RB-2013 dated March 5, 2013;

extending loans including loans in Indian Rupees to Non-resident Indians (NRIs) who are relatives as defined in Companies Act, 1956.

 

[cloudTrader]

I've seen that before, it says remittance for margin trading & forex are prohibited; where does it say that INTRADAY trading in foreign stocks is prohibited?

And, I'm talking specifically about intraday stock-trading because according to this link, it seems that trading foreign stocks itself is perfectly legal.

https://rbi.org.in/Scripts/NotificationUser.aspx?Id=10192&Mode=0#1

These things are just like other laws of India where almost in any domain you will find kind of ambiguity.

The quoted text from you , I have read it earlier but even after having a conversation with a ICICIBANK official of no less status , was not clear about Intraday Trading in foreign stocks. He said Delivery based is allowed , now this is ambiguity in the lines.

If you can read between the lines then can go ahead. :thumb:

 

[Newbie Day-Trader]

These things are just like other laws of India where almost in any domain you will find kind of ambiguity.

The quoted text from you , I have read it earlier but even after having a conversation with a ICICIBANK official of no less status , was not clear about Intraday Trading in foreign stocks. He said Delivery based is allowed , now this is ambiguity in the lines.

If you can read between the lines then can go ahead. :thumb:

I agree with you about the legal ambiguity. I guess very very few people in India actually trade foreign markets (in fact, only a small % of Indians trade/invest at all compared to some of the developed countries) so often even CA's, lawyers & other officials aren't sure but I guess if there's no law saying that intraday trading in foreign stocks is illegal then one would have to assume that it's not a problem, & it would be a little difficult to prosecute someone who hasn't broken any written laws (or at least one would hope so). But yeah, there's always that fear of somehow getting into legal trouble, that's the reason I've not tried doing it.

 

[Obelixtrader]

I think all brokers can deal with their clients internationally . Living in India you can work with Insta Broker that are famous in Asia in forex trading business. Many other Brokers are working in your country you can get benefit from their services.

instaforex is **** look on page this broker no real address its scam broker. You wanna trade FX?
1. trade as a standardized futures contract traded on exchanges with regulations on NSE on BSE or MSEI INR futures currencies and hope that in coming months they will start to offer non INR futures contracts EUR/USd, USD/JPY and GBP/USD futures
2. Spot Fx with Interactivebrokers they have 16LP big banks or on LMAX Exchange in London. LMAX is Multilateral Trading Facility (MTF)