Comex Account

[linux7802]

As per RBI norms the forex trading is disabled but I am not able to see any guideline for Comex trading, therefore can some one let me know, if we can do crude trading only in Comex or not......... :clap:

 

[linux7802]

any one.......

 

[puneetsinghania1980]

Rbi has a general restriction that one cannot do margin trading outiside India which includes commex, forex and even equity margin based trading.. Only delivery based trading allower

 

[linux7802]

Thank you for your reply puneet, but its nor fair enough by RBI to restrict the Comex trading as well, we all Indians are missing the movement of international commodity , we are becoming big losers because after MCX closing all the activities completed in night in comex market and in morning we are ready to see gapup opening either downside or upside and many small traders lost money in such way.......so its better to leave our markets also open as per international commodity market timing , if RBI can't afford to allow Comex trading

 

[puneetsinghania1980]

Comex trading will basically create offshore liability which RBI does not want....and locally, the exchange cannot be kept open full night as it would strain the exchange staff, brokers for staff requirement and settlement cycles.