Is forex trading legal in india?

[Hulu Girl]

I think we need mind and strategy for trading in market. None signals are going to help us every time. If signals are so perfect then you can trade and earn money from it. There is no need to sell it.

 

[shaguftatahsildar]

zerodha is allowing us to trade currencies? Is that legal?

Depends on which pairs you are trading. Some of the pairs like USDINR, EURINR etc. are legal. These restrictions are put in order to prevent the outflow of foreign currency in cases of loss.

 

[Kaneab]

I believe that forex trading is legal in India. The only limitation is that there are certain currency pairs that you can trade with. I hope that forex trading becomes legal for all the currency pairs. India can become the greatest forex capital as it has huge potential.

 

[Fistig]

Forex trading is legal all across the world. Binary Options and cryptocurrencies are facing the legal issues in the world. In India, you can trade currencies quite easily and you will find a lot of brokers working in your locality. get ready for the trading folk!

 

[malhotra527]

Forex trading is absolutely illegal in india as it may lead to a deficit of foreign currency with RBI and hence devaluation of the indian currency .

If any person is caught doing forex trading you will be charged with FEMA,Violation of Law Act ,1999 and sent to jail for the same.

However , one can trade in forex by trading in forex currencies that are paired with indian rupees that is :

• USD/INR
• JPY/INR
• EUR/INR
• GBP/INR.

 

[Mishra_86]

Currency trading is legal in India to some extent but it is restricted to certain currencies which are paired against the INR. However, in India you can trade in these currencies like EUR/INR, USD/INR, GBP/INR, JPY/INR.

 

[Hulu Girl]

Currency trading is legal in India to some extent but it is restricted to certain currencies which are paired against the INR. However, in India you can trade in these currencies like EUR/INR, USD/INR, GBP/INR, JPY/INR.

That is true, but these currencies are not such high movement that we can make good profit. So Indian government should think about it.

 

[stoch]

I don't understand why the government bans trading with other currencies. Most forex brokers like Tickmill or Hotforex offer CFD as trading instruments so you basically don't buy or sell currencies just extract profit opportunities from the market. I still trade fx despite of regulations because high leverage create very lucrative opportunities.