Forex Trading Doubts

[d_hasta]

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..

1. Is it legal in india to participate in international market forex trade?
2. What guidelines do RBI put forward for the same?
3. What are the key factors that i need to keep in mind while choosing the right broker?

Please do provide your suggestions.
Thanks & Regards

Well the forex trading markets are going to be soon legalised in India. but for now we've to trade by other means. Also, there are many traders who are trading in forex, so you can put your apprehensions to rest.
as far as i know, one can transfer up to $2,00,000 per year in international banks for trading in futures/forwards/stocks. Am sure who ever contacted you would also want u to transfer the funds to international bank.

Lastly the most imp part about choosing the broker:::
1. Regulations: with what all bodies they are regulated and how safely their funds are hedged.
2. Do they have a local office in India?
3. Their global presence
4. Low & Fixed spreads, margins & commissions.
5. Initial deposits should be less, & the withdrawal & deposit facilities should be quick
6. Customer support should be effective & excellent.

As a newbie, you first for at least 3-6 months trade on demo accounts if you have no prior trading experience.if they're providing free webinar/seminars do avail the benefits of it totally.:clapping:

also the babypips website is very useful if you want to get started with forex knowledge.

Wish u luck!:thumb:

 

[lrsekhar]

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..

1. Is it legal in india to participate in international market forex trade?
2. What guidelines do RBI put forward for the same?
3. What are the key factors that i need to keep in mind while choosing the right broker?

Please do provide your suggestions.
Thanks & Regards

Hi,

Nair,

send your email id i can send legal documents in india to trade forex