Trading in foreign exchange is legal only through nse currency segment mcx sx with the only foreign currency paired with indian rupees. If rbi or the indian government thinks forex trading illegal you will not be seeing those forex trading platforms and sites in india and you will not be seeing a host of forex trading advertisements and links in search engines like google in india.
You can trade with involvement of indian rupees like usdinr eurinr gbpinr or jpyinr.
Does forex trading in india is legal. So ! i started so many investigations to find the right answer if forex trading is legal or illegal in india. Though forex trading is legal in india still investors must take into consideration it as a risky trade. Well forex trading is legal only when one does it through forex trading platforms and the base currency is inr.
Forex trading or currency trading is risky and not for everyone trading in forex carries a high level of risk and it may not suits everyone. So i took the opportunity to investigate and find answers to if forex trading is legal or illegal in india. Forex trading in india is illegal where there is no involvement of indian rupee.
Being from india i had many doubts about legal aspects of forex trading. Under the foreign exchange management act fema 1999 or fema act you can face imprisonment or a fine can be imposed on you for illegal forex trading in india. It is advisable to consult a lawyer first to know the procedu! re well.
Forex trading in india is legal! or illegal as per the guidelines of reserve bank of india rbi and certain terms set by sebi. If you are an indian you have some hesitation and contradiction about legal aspects of forex trading. Sebi imposes restrictions on the maximum availability of leverage types of trading and the rules governing exotic currency pairs etc.
Before deciding to do forex you should consider your investment objectives risk carrying capacity and level of experience. Trading with sebi forex brokers in india. Forex trading in india legal.
India is the second most populous country in the world that is home to one of the largest group of working class people who have an increased affinity towards investing in the several attractive opportunities available throughout the globe.
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