Forex trading is illagal business in India.Tell any one

[tamaa]

I read somewhere i think its in this forum, that forex trading is like being GAY (no offense to anyone) it may be illegal but no body does anything about it, and t be honest i know lots of indians trade forex online and do transfers through money bookers, its not direct bank transfer and the money that comes in is legal with less fees i trade with hotforex currencie trading

 

[MANISH_DAMANI]

lots of complexities in law but if it is illegal NSE and MCX-sx then they are not able to launch it.The way you are trading that is illegal but in Indian exchanges it it not.

 

[Kungfu]

I read somewhere i think its in this forum, that forex trading is like being GAY (no offense to anyone) it may be illegal but no body does anything about it, and t be honest i know lots of indians trade forex online and do transfers through money bookers, its not direct bank transfer and the money that comes in is legal with less fees i trade with hotforex currencie trading

Forex is a complicated business, I know some countries do not allow it. But I know if you want, you can trade with some tricks.

 

[tradetolearn]

Forex is a complicated business, I know some countries do not allow it. But I know if you want, you can trade with some tricks.

Hi,
Obviously sir everyone who is new to forex wants to know the tricks .
Pls do tell all of them how to do that especially in india ?

 

[Mr.Rao]

it is not illegal, you can trade in forex but dont use libaralised money remittance sceme, thats it

 

[tradetolearn]

it is not illegal, you can trade in forex but dont use libaralised money remittance sceme, thats it

hahaha, can u explain how to do that??trading in forex legally but not using te liberalized money remittance scheme.?
Pls explain

 

[MANISH_DAMANI]

Clear your any doubts related to foreign exchange by reading FEMA Act.
http://220.227.161.86/19401sm_cal_finalnew_cp18.pdf

 

[tradetolearn]

Clear your any doubts related to foreign exchange by reading FEMA Act.
http://220.227.161.86/19401sm_cal_finalnew_cp18.pdf

hahaha boss if one could understand these circulars by itself then y does one need to join a thread like traderji and ask questions.Pls be clear and direct in saying.We are not chartered accountants or have some kind of financial degree so that we understand all this.
Pls give simple , direct and straigtforward replies.

 

[tradetolearn]

Clear your any doubts related to foreign exchange by reading FEMA Act.
http://220.227.161.86/19401sm_cal_finalnew_cp18.pdf

lol again a confused form of reply, not clear :thumb:

 

[Saiyyed Rafik]

Guys as per my knowledge you can trade upto 15k USD in foreign currency (as a Indian Trader) but you need to pay tax to Indian governments....