HotForex

[Kungfu]

Yes, no one can trade forex as individual in India. Trading forex with your own money is illegal in India, but you can trade others money who has registered address outside India (obviously prop firm is a legal mean to trade forex).

It's same to my country, where you cannot trade forex as individual, and all local forex companies are scammer. But it's possible to trade with a foreign broker.

 

[Saiyyed Rafik]

We have (Indians ) strict rules and regulation about trading. If you really want to do Forex trading then you can open account with your friends or relatives who lives outside India.

 

[tamaa]

im not encouraging people to do a bypass. but people do bypass. intl brokers have lots of indian traders despite the the restrictions.

 

[throwawayacc123]

im not encouraging people to do a bypass. but people do bypass. intl brokers have lots of indian traders despite the the restrictions.

Complete BS.

Do you have ANY proof to back that statement?.

 

[Kungfu]

^
I also noticed many Indian trader in Forex field, not sure if they are from another country outside India.

 

[tamaa]

let me rephrase "there are tons of indian traders (something i doubt is easy to deny) theoretically speaking not all of them trade would be residing outside india!! and not all will declare income through forex trading." a simple real talk here.. if we talk about just one trader, yeah its 99.99% chance that there is one trading from india with restrictions, on an international broker.

maybe its just me but im pretty sure im not alone, but is highly probable. lets completely reverse the situation, do all indian residing traders only trade with indian brokers? how about some proof?

P.S. this is just theoretical, probabilities and statistics, setting aside all legal declarations and statistics, I never believed in something thats a 100% when there is always a margin for error/loophole in the system (no matter what it is as long as its man made)

 

[stoch]

let me rephrase "there are tons of indian traders (something i doubt is easy to deny) theoretically speaking not all of them trade would be residing outside india!! and not all will declare income through forex trading." a simple real talk here.. if we talk about just one trader, yeah its 99.99% chance that there is one trading from india with restrictions, on an international broker.

maybe its just me but im pretty sure im not alone, but is highly probable. lets completely reverse the situation, do all indian residing traders only trade with indian brokers? how about some proof?

P.S. this is just theoretical, probabilities and statistics, setting aside all legal declarations and statistics, I never believed in something thats a 100% when there is always a margin for error/loophole in the system (no matter what it is as long as its man made)

Are you trade through IB with Hotforex or directly with the broker? What about taxes on forex income in India?

 

[Kungfu]

"Facebook is prohibited in China but still there > 20 millions people in China using Facebook everyday".

Hopefully everyone get what I mean.

 

[tamaa]

Its not like an advice, and i do not consent it, but it does happen,, honestly my forex income comes in as remittance, its not taxed on my end, i only pay whatever fees comes with the transfer, its not like im making millions

 

[JPK35]

It is obvious that despite of restrictions many indian people trades Forex (don't know whether from India or outside the country), and actually this broker, HotForex, offers a customer service in this language.