Madhusnair, may I dump the apple cart? I see a worm or 2. You'll pardon me for using metaphors, but I do use a lot of them to create a more picturesque view of what I'm talking about.
First of all, if you are getting direct calls from brokers to educate and assist you, then your doubts are 100% justified. Their whole motive is to entice you to see what they have, then down the road they are going to sock it to you with a sales pitch. It will also sound like something too good to be true. Let me assure you (And this is not too good to be true.) that there is lots of wonderful information you can get right here on this forum. And just between you and me (whisper whisper), it is FREE! There are also (By what I can tell.) quite a few excellent traders on this forum.
They can also claim to be international markets but if it is illegal?...(You finish that statement.) I will say there are forex markets you can trade from India, and the pros from India can guide you on that. I can't because I am an 11 1/2 hour time zone from you here in the USA.
I've been trading for 7 years. In choosing a broker, just start off with a demo account, develop some sort of rapport with the broker, and then get in this forum and ask for opinions concerning that specific broker. If you notice, for the most part people remain hush about their broker. I've had a few bad experiences with a few brokers, but I am still alive, monetarily to tell the story and still be trading.
This site, http : // forex-strategies-revealed .com does have some catchy phrases like "simple systems" among others. There is only one thing about trading that is simple to understand, and that is nothing is simple. I can personally take anyone of those systems and either make them look good on paper or totally blow them out of the water. The site gets paid for all that advertising they do, so it really does not matter if anything works.
I'm almost hoping you don't believe me. If you don't, then find a few of their "simple strategies", we'll set up a thread, and I'll blow everyone of them away. After all, this is all I do. I trade here in my home office with Tucker (in the pic) on my lap, and I got a blog. Oh....it's free with no advertising whatsoever. I can't publish it here in this open forum nor my e-mail because it is against Traderji policies, so I need to respect that.
Let me also refer you to
www.actionforex.com. I have no affiliation with them. People are attracted to their site because of outstanding forecasting. There are 2 buttons to click on: 1. Action Insight; 2. Trade Ideas. You will be able to learn some things there. They also have lots of free stuff on there. They make their money through their advertisers. Evidently they forecast better than they trade. The company will never give you a hidden sales pitch of theirs. I've known them for 6 1/2 years.
Lalit, this was not an intention to get on your bad side, but I just wanted to set the record straight.
Hi Folks,
Lately i have been receiving calls from 2/3 forex trading companies.
They claim to be based on international markets.
I am not exposed to forex trading but interested in it.
They are willing to educate me & assist me throughout but i do have a couple of doubts..
- Is it legal in india to participate in international market forex trade?
- What guidelines do RBI put forward for the same?
- What are the key factors that i need to keep in mind while choosing the right broker?
Please do provide your suggestions.
Thanks & Regards
both are illegal but no one gets caught