How to easily Trade Forex from India!?

#1
Dear Fellow Traders!

As you all know FX trading is grey field area for trading from India. Thousands if not Lacs of traders however trade in Forex from India. This is because sending money outside India for FX trading is not allowed but no one can stop you if you are not sending money outside India from your Bank account.

I have been successfully trading Forex from India without any issues. Here is how:
1] You first load some BTC in your BTC wallet from any of the exchanges available or via by purchasing from another BTC seller.
2] Then you open an account with any of the Forex brokers who accept deposits in BTC or any other Cryptocurrencies.
3] Fund your trading account from the client portal of the forex broker by selecting BTC as deposit option.
4] Withdraw back your profits into your BTC wallet from the fx trading account and sell the BTC back on any exchange or to another BTC buyer.

Benefits of this method:
1] No trace of your FX deposit activities.
2] No TAX liability on your fx trading profits.
3] Cheap and easy way to fund.

There are many FX brokers who accept BTC for trading:
https://www.forexbrokerz.com/page/forex-brokers-accepting-bitcoin

Out of the above brokers I personally trade with TradersWay because they have the lowest spreads and commissions and provide ECN platform. Also because they support Auto Copy service from meta traders which is the cheapest Signal provider. Fxopen is also not bad but I could not get past their verification. Withdrawals are also not as fast as Tradersway as mentioned on the website.

Why do I trade FX?
1] 1:1000 leverage on trading.
2] Possibility to trade on MT4 which is free and is the best Charting platform to run Algos/Robots.
3] I can trade 24*5 throughout the week from my Mobile phone.
4] Since the FX pairs hardly move more than 1 or 2% per day it is a great place to trade Martingale strategies.


All the Best!
 

Raju

Well-Known Member
#3
And withdrawing money from BTC exchanges like Koinex give lot of issues. Banks/Govt. are not at all encouraging bitcoin.
But there are hopes as son of Mukesh Ambani has started some work in coins.....Govt. will listen to them not to us.....
 

Hulu Girl

Active Member
#4
It is not easy for any Indian trader to trade in India with Forex or BTC. We have strict rules which we have to follow. We have no choice.
 
#6
I know in India Forex trading is not allowed, but yet people from India do trading in Forex, its not like that we don't have any choice.
Forex trading is allowed in India but it is very restrictive. You could say it is partially legal as it lets you trade in 4 pairs only and all of these should involve INR. These are USD-INR, GBP-INR, JPY-INR AND EUR-INR. You can’t legally trade in other pairs.
 
#7
Common and the most straightforward answer to this question is, of course: - "there is a will there's a way".

You can trade Forex in India with Indian Exchanges (NSE, BSE, MCX-SX) which offers Forex Instruments. However, Indian Exchanges currently offer USDINR, GBPINR, JPYINR and EURINR pairs for trading purposes.
 
#8
I have heard a news of the ban of cryptocurrency exchanges amd transactions in India. I want to take the opinions of you people, from India, in this regard. Is it a fake news? Or do you use wrong channels for the purpose of bitcoin trading?
 
#9
In India, Forex and cryptocurrency both are having ban rules, so there is a limitation of trading with them. But still many are doing this work.
 
#10
It is very easy to trade Forex in India. The best thing you can do is to learn the basics and fundamentals of the market. You should also make a relationship with a registered Broker. Brokers are very important in your trading life. So, spend some time and check out for some reputed brokers.
 

Similar threads

Broker Special Offers

Intraday Higher Leverage

Save up to 90% in brokerage and get higher leverage for intraday trades.

Name:Phone:
Email:City:
State:
Are you a day trader?