Trading forex for prop firms

[vinaykn]

Hello Guys,

I understand that trading forex is illegal in India. I was exploring the possibility of trading foex for prop firms with the firm's capital. I assume it is legal to do that. Just wanted to know what you guys think of this? Is there anyone who does this?

Thanks,
Vinay

 

[vishal7176]

in mumbai western suburban 2-3 firm is trading desk of forex but they ask some deposit money before u start trading with them ...

they will teach ,train and support . but only reference candidate they accept it

 

[vinaykn]

-ve. Prop firms / any firm for that matter ... can not trade FX ... Legally ....
ONLY Export companies can trade ... Buy $ ... to hedge against the risk ... If $ falls against Re.

Thanks for your reply. By prop firm, I meant a foreign prop firm with remote trading option. Is that legal? I am not sending any money abroad. I don't think I will break any law here.

 

[vinaykn]

in mumbai western suburban 2-3 firm is trading desk of forex but they ask some deposit money before u start trading with them ...

they will teach ,train and support . but only reference candidate they accept it

Do you know names of these firms?

 

[spearforex]

Hi Vishal,
Can you provide some details about these firms?

 

[vishal7176]

crosses capital & sara capital ....both have forex prop desk they have office in mumbai malad/fort but actual forex trading desk outside mumbai . u want to shift there

as i know they accept only reference two yr back this policy they run , as today condition i dont know ...i heard they allow everyone to join but they ask for deposit money .

thank you