Can Indians trade non INR currency pairs?

If indian resident want to trade non INR currency pairs can they do it legally?
If yes how.

SEBI Allows Cross currency pair trading in 3 Pairs
That’s what i know but haven’t seen any broker providing these pairs.
Would like to know more from you guys @nithin @ShubhS9 @Meher_Smaran @Bhuvan

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Is there any other legal route to trade those currency pairs like incorporating a firm in some other country? But even in that case I think fund would be transferred from India to offshore account for purpose of trading non INR currency pairs and would violate FEMA.

You can legally trade via a broker in all NSE listed currency pairs including cross currency pairs.,trading%20in%20Currency%20Derivatives%20segment.

If there is a broker imposing restrictions discretionary or otherwise that is a localised broker problem. Just switch to another broker where there is more freedom.

@t7support Do you do it? If yes then which broker? How’s the liquidity?

Nope. I don’t trade in currency segment yet.

I trade with Dhan and they have the nse listed currency pairs.

Please let me know which currency pair(s) you are interested and I can share more details.

Suppose you want to sell EURUSD.


That’s it.

Doing it since half decade now.


The non inr pairs that’s allowed by NSE since they are not avialable at zerodha

No liquidity in options. Liquidity is very low in futures for all cross currency pairs.

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I see however these are supposed to be most liquid of all Forex Pairs primarily the Cable (GBPUSD) when international volumes are also taken into consideration …
Don’t understand how it works?

Depending on exchange volumes could vary. For instance volumes on mcx for commodities is no where near international commodity volume.

Also I wonder if brokers block clients from trading these currency pairs how will these currency pairs ever be liquid at NSE… :thinking:


But GBPINR? Lol.
How a forex trader in the UK is feeling about GBPINR? The same thing you feel about Somalian currencies.

Only corporates use it. Like If you order a machine from the UK and paid in GBP and You want to hedge it for volatility. In those cases.