Is FOREX and Binary Option Legal In India in RBI Tearm

[pannet1]

Hi

Can i open an account in IQOption and get funded the account using Skrill and withdraws money from Skrill to my backup account. Will it be Legal to do.

Yes. you could. IMHO thats the only way to have a middle man between you and broker. I think Skrill will not allow you to fund in one account and withdraw in another account.

 

[howardroark]

Hi howardroark,

How much your daily income from Forex. I am new to Forex basically iam CPA and blackhat SEO making $$$ a day I work most on automate BOT. I am just asking forex will not work in automate BOT or you don’t have experience on automate BOT.

Per week, I earn, what banks give after 1 year on FD's ...
I bought bot's from 199$ - 990$ ...
I got my own strategies converted in2 bot's spending 400$ - 800$ ...
To cut the story short ... BLEW AWAY MY HARD EARNED 4600$ ...
Any bot will ONLY understand 0 and 1 ... They are developed to work under certain rules and parameters ... Meaning any and every bot is static ... Market is as DYNAMIC as Life
Will a bot understand OB/OS, divergence, ADR, pull back etc? NO NO NO
You give me any rules ... Any strategy ... I will develop the bot myself ...
Will they work all the time... under all the market scenarios? NO NO NO ...
If you want profit ... over a period of time ... over a long period of time, LEARN TRADING .... NO OTHER WAY ...
If not NOW ITSELF ... write a cheque in my name ... as I'm going to be the One snatching your money through my skills and expertise ...

 

[howardroark]

Dear howardroark,

You are GOLD here in TJ. Thank you for providing this thankless job. What is the rationale behind selecting the brokers. Let me try ...

Dukascopy (I read you want more money to be safe with the swiss bank off shoot)
Hantec Market (Why you need two .. may be something to with swap / spread .. I am just guessing here).
Lite forex (for all other accounts means .. even smaller account sizes ?)

Hantec Market and Lite Forex .. since when (date ?)

Sorry for too much question. I burnt $2500 in a period of two years with the bucket shop tradersway. Well I don't want to blame broker for my stupidity

Forex trading is not only allowed and regulated in Swiss, it also has one of the stringent Financial regulations ... Dukascopy ...
Hantec is the ONLY FCA regulated broker, having Op's in India ...
Apart my own funds, I do PF management and I do not direct my clients to open acc with a particular broker ... Lite forex and Hantec ...
Lite forex is older than Hantec in India ... That way, I'm with LF since 5 years and Hantec since 3 years ... No problem with either of the two ...
Minimum account size in LF is 100$ ... its minimum 1000$ with Hantec ...
Hope it helps ...

 

[howardroark]

So are taxes income and other are less in forex?

What are the advantages compared to India stock exchanges?

Tax has nothing to do with any business ... trading or hotel or spa ... Tax is for the total income you earn ...
Commissions in FX are very less (compared to NSE/BSE/MCX), NEGLIGIBLE I say ...
FX is a 5 trillion$ market working 24/5 ... any stock exchange ds nt stand a chance with FX

 

[howardroark]

Hi howardroark

I am really saying my fried has custom made auto trading bot he was doing great just impress to see the result he is ready to give me bot also but i need use my account and fund and i need to provide 40% of profit to him.

Open an acc with Hantec or Lite forex ... Hire me as your PF manager ...
Pay me 30% of the profit ... You do not need bot and you save 10% as well

 

[howardroark]

Yes. you could. IMHO thats the only way to have a middle man between you and broker. I think Skrill will not allow you to fund in one account and withdraw in another account.

Skrill also has a rule that if they find your account to be suspicious, they can freeze your account without even informing you ...
Cant not Live happily ever after ...

 

[princy01]

Tax has nothing to do with any business ... trading or hotel or spa ... Tax is for the total income you earn ...
Commissions in FX are very less (compared to NSE/BSE/MCX), NEGLIGIBLE I say ...
FX is a 5 trillion$ market working 24/5 ... any stock exchange ds nt stand a chance with FX

I think charges are deducted from the income so it's alright whatever the charges are in nse fno?

Its my first income tax year due to trading so not too sure

 

[howardroark]

I think charges are deducted from the income so it's alright whatever the charges are in nse fno?

Its my first income tax year due to trading so not too sure

Get a good auditor ... S/he will help you out ...

 

[princy01]

Get a good auditor ... S/he will help you out ...

How many hours per day you spend trading brother?

 

[howardroark]

How many hours per day you spend trading brother?

Depends ... But predominantly 9 hours of London session (which includes 1st 3 hours of Newyork session) ... 1 30 pm to 10 30 pm IST