How many Indians really trade forex on live accounts?Share your experiences..

[m_lal2007]

Thank you.

 

[talati]

anyone traded in fxcentral.net

 

[talati]

Hello Pipshower, Ankit and others

Just see the FX Central platform. They are doing great.

Talati

 

[ag_fx]

Hello Pipshower, Ankit and others

Just see the FX Central platform. They are doing great.

Talati

Why do you say so? Whats special about them?

 

[talati]

Ankit

The platform is techy, faster and a good response.

They give the 5th decimal pip.

Talati

 

[talati]

Ankit

Please see the site and mail

Talati

 

[ag_fx]

Ankit

The platform is techy, faster and a good response.

They give the 5th decimal pip.

Talati

Their platform is MT4....All brokers provide it
5th decimal pip.....there are a dime a dozen brokers out there offering 5 decimal pricing.

Whats different about them? These features are normal and available everywhere.

 

[talati]

Ankit, pipshower

To what value can a Resident Indian trade in FX every year?

Can the losses in FX transaction be adjusted against general business losses?

If we have booked profits, have we to report to RBI and if so in what format?

Talati


If the losses

 

[talati]

What is the average daily turnover of Forex in India. Some guess please

Talati

 

[talati]

Dear Talati,

Residents can invest upto 200K USD annually. As i mentioned earlier, The RBI does not specifically categorize where you can and where you cant make investments, though the LRS (Liberalized Remittance Scheme) Schedules mention, Margin is not allowed.

Regarding taxation - When you transfer you transfer for business investments abroad. When you receive your funds back or book profits or losses, you mention profits or losses from business investment abroad.

You can confirm this with any CA or even with alpari which has its office in India (www.alpari.co.in)

With BR,

Mash

Most of the CAs do not what is Curency FX.

Any particular name in Alpari