PAMM Legality

#1
hi
i am an indian citizen and i reside in india. i know that its illegal to trade forex from india other than inr pairs. but....

Being a fund manager for others, like PAMM manager becomes an illegal activity?


The money is not mine, and i trade others money and i get paid through commission. I am not remitting from india, i will just be getting the Dollars to india. Is this legal?
 

Mr.G

Well-Known Member
#2
Nope, as far as the government is concerned you will charge you for smuggling for a second party. This is like asking if you can bring drugs into India for a friend with your friends money.
 
#3
Nope, as far as the government is concerned you will charge you for smuggling for a second party. This is like asking if you can bring drugs into India for a friend with your friends money.
is it so? dollars is not drugs, bringing dollars in to india is not equal to bringing drugs. isnt that right?

if drug business is legal in another country, and i oversee a business in that coungtry from here, and i get paid for that, what is illegal in this?

i dont understand.
 

Mr.G

Well-Known Member
#4
I used an anecdote. I'm confused too :p consult a lawyer.
 
#5
is it so? dollars is not drugs, bringing dollars in to india is not equal to bringing drugs. isnt that right?

if drug business is legal in another country, and i oversee a business in that coungtry from here, and i get paid for that, what is illegal in this?

i dont understand.
Hello sir,

If u r a senior member and trading forex for quite some time pls guide in depositing and withdrawl methods for forex?what should we use ?what is the best method?
 
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