DGCX adn MCX
- Thread starter global trader
- Start date
Just got a reply from IB ( USA I think not India)
"All the exchanges are available except the BSE. Your account can hold multiple currencies, you will be able to convert the funds in your account for the product you want to trade. To open an account a minimum equity deposit in cash or stock of USD 10,000 (or USD equivalent) is required.
This link will direct you to the Interactive Brokers web site, In the upper right hand corner you will see an icon, Open An Account, here you can complete an application for an account. . If you are going to trade just stocks you can complete the Fast Track options, if you are trading other products, options, futures, etc. then complete the ProTrack options
https://www.interactivebrokers.com/en/index.php?f=4689
"All the exchanges are available except the BSE. Your account can hold multiple currencies, you will be able to convert the funds in your account for the product you want to trade. To open an account a minimum equity deposit in cash or stock of USD 10,000 (or USD equivalent) is required.
This link will direct you to the Interactive Brokers web site, In the upper right hand corner you will see an icon, Open An Account, here you can complete an application for an account. . If you are going to trade just stocks you can complete the Fast Track options, if you are trading other products, options, futures, etc. then complete the ProTrack options
https://www.interactivebrokers.com/en/index.php?f=4689
I have account by IB. Iam intersted for INR/USD futures. but most liquid is on DGCX and they dont offer it. iam from europe and I can trade it only on CME US but the liquidity is poor on SGX liquidity is growing but its still to small 500 a day CME europe offer USD/INR futures but its new exchange there isnt liquidity only on DGCX. And IB dont offer trading on DGCX
you can trade USD/INR on NSE.
last time i checked they had dubai exchanges and mcx. Don't know if something changed.
That was one of the reasons i wanted to trade with IB. But when i checked with them they said I will have to take the risk as it is illegal for indian traders to trade on margin a/c in foreign exchanges.
They are aware it its illegal , but they say customer has to decide if he wants to take that risk. What BS, if it is illegal , they should say it , but they are getting good business.
Just like FOREX , if any of the banks or govt inst comes to know about IB , you will have to pay a hefty penalty. But they are only looking out for their own interest not the customers.
Same goes with the so called FOREX brokers who are established in India. No respect for the law of the land when it comes to business.
Hopefully Modiji's govt will make a change in this.
last time i checked they had dubai exchanges and mcx. Don't know if something changed.
That was one of the reasons i wanted to trade with IB. But when i checked with them they said I will have to take the risk as it is illegal for indian traders to trade on margin a/c in foreign exchanges.
They are aware it its illegal , but they say customer has to decide if he wants to take that risk. What BS, if it is illegal , they should say it , but they are getting good business.
Just like FOREX , if any of the banks or govt inst comes to know about IB , you will have to pay a hefty penalty. But they are only looking out for their own interest not the customers.
Same goes with the so called FOREX brokers who are established in India. No respect for the law of the land when it comes to business.
Hopefully Modiji's govt will make a change in this.
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