Any Spot Forex trader from Mumbai?

[Galts Gulch]

I can not comment on best broker ... I trade with Lite forex and power trader ... Never faced any problem with either of them ...

You can either use cash deposits and cash withdrawals either through banks or through Angadiyas' ...

 

[funkytoon_suns]

What if you withdraw $50,000 at one go then you would come under the scanner of RBI and your bank

 

[Galts Gulch]

What if you withdraw $50,000 at one go then you would come under the scanner of RBI and your bank

I would not be that mad .... Im not that rich also ....

Normally I withdraw about 15,000$ - 20,000$ every month ... Not on a single day again ... I'm smart enough not to fall in to any trap ...
:thumb::thumb::thumb:

 

[shad4u2]

I would not be that mad .... Im not that rich also ....

Normally I withdraw about 15,000$ - 20,000$ every month ... Not on a single day again ... I'm smart enough not to fall in to any trap ...
:thumb::thumb::thumb:

let me more clear it!

means we can use our Online banking and CC for withdrawals but not exceed 50k.
what about the deposit can we go with onlne banking, CC, ? is there any problem in future or we can use any other payment option if yes which is the best for Indian trader?
could you please tell me the safe entry in forex step by step Please..............

 

[Galts Gulch]

let me more clear it!

means we can use our Online banking and CC for withdrawals but not exceed 50k.
what about the deposit can we go with onlne banking, CC, ? is there any problem in future or we can use any other payment option if yes which is the best for Indian trader?
could you please tell me the safe entry in forex step by step Please..............

You got me all wrong buddy ...
Will simplify for you ... the whole process ...
1. Mail the KYC norm documents to a FX broker ...
2. Credir cash to their any Indian Bank account, Not online / Cheque transfer / Nor NEFT / RTGS .... Good, old and Traditional way of Cash Deposit ...
3. Your account will be opened in about 2 days ...
4. Whenever, you want to withdraw, Mail the withdrawal request. Withdrawn amount, will be credited IN CASH to your any Indian Bank Account number.
5. As cash deposits happen both ways, neither you nor the broker is leaving any trial ...
6. If the amount is higher, go to an Angadiya in your city and pay cash to him. The broker gets cash in his city. Account will be opened in your name in about 2 days.
7. Whenever you want to withdraw, Mail the withdrawal request. Broker will hand over Withdrawn amount in cash to an Angadiya in his city. You will get cash from an Angadiya in your city.
8. I use both options, depending on the volume of the capital. Bank channel for lesser capital and Angadiys network for higher capital volume. I have never faced any problem in 5 years and that is almost about 250 - 300 transactions ...
Hope I'm clear NOW ... Feel free to ask me, if you still have doubts ..

Regards,

 

[shad4u2]

You got me all wrong buddy ...
Will simplify for you ... the whole process ...
1. Mail the KYC norm documents to a FX broker ...
2. Credir cash to their any Indian Bank account, Not online / Cheque transfer / Nor NEFT / RTGS .... Good, old and Traditional way of Cash Deposit ...
3. Your account will be opened in about 2 days ...
4. Whenever, you want to withdraw, Mail the withdrawal request. Withdrawn amount, will be credited IN CASH to your any Indian Bank Account number.
5. As cash deposits happen both ways, neither you nor the broker is leaving any trial ...
6. If the amount is higher, go to an Angadiya in your city and pay cash to him. The broker gets cash in his city. Account will be opened in your name in about 2 days.
7. Whenever you want to withdraw, Mail the withdrawal request. Broker will hand over Withdrawn amount in cash to an Angadiya in his city. You will get cash from an Angadiya in your city.
8. I use both options, depending on the volume of the capital. Bank channel for lesser capital and Angadiys network for higher capital volume. I have never faced any problem in 5 years and that is almost about 250 - 300 transactions ...
Hope I'm clear NOW ... Feel free to ask me, if you still have doubts ..

Regards,

Thank you dude your post is very useful to me and other new comers.
Please clear me in some point.
1) I want to open a account with hotforex but they dont have cash payment option. any other safe way for deposit and withdrawal with it ?
2)Lite forex is not ECN broker.?
3)Please suggest me some more broker who offer cash trasnsection so will choose the best broker.

thank you for your support. God bless you.

 

[Galts Gulch]

Thank you dude your post is very useful to me and other new comers.
Please clear me in some point.
1) I want to open a account with hotforex but they dont have cash payment option. any other safe way for deposit and withdrawal with it ?
2)Lite forex is not ECN broker.?
3)Please suggest me some more broker who offer cash trasnsection so will choose the best broker.

thank you for your support. God bless you.

Lite Forex has both ECN and Normal accounts ...
And their Client relation is at par the best ...
I happen to know the country head for good 6 years and that helps in getting extra terrestrial services as well ... :thumb::clap::clapping:

 

[shad4u2]

Lite Forex has both ECN and Normal accounts ...
And their Client relation is at par the best ...
I happen to know the country head for good 6 years and that helps in getting extra terrestrial services as well ... :thumb::clap::clapping:

Thank you buddy its very useful to me could you please tell me what is your strategy in trading.

 

[Galts Gulch]

Thank you buddy its very useful to me could you please tell me what is your strategy in trading.

I have a whole thread for that ...

Be home there ...

 

[Saiyyed Rafik]

1) I want to open a account with hotforex but they dont have cash payment option. any other safe way for deposit and withdrawal with it ?

Check the image for the Payment option bro (same for deposit and Withdrawal). I`m using Hotforex since long time and so far its good for Asians traders.