Forex trading except INR base

Why is forex trading without INR base is not allowed in India or if it is allowed how can I trade it ?

Because few years ago I never knew that we should trade only INR base , and I was practicing it in forex demo ac ,
Please do reply :smiley:

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As per RBI press release, cross-currency forex trading is allowed in certain pairs. Refer to this thread for more details -

They trade on NSE and BSE, but as per this reply by @nithin they aren’t currently available on Zerodha

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Fyers is one of the brokers who allows trading in EUR-USD, GBP-USD & JPY-USD. So if you’re looking to trade in these FX pairs, then you can evaluate opening an account with them. Zerodha is yet to activate these pairs & have been promising to allow for more than a year now.

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Do they allow spot trade or only future contract

Only future contact that are listed.

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There will some difference.

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while NSE has allowed trading EUR/USD , GBP/USD and USD/JPY. The liquidity for these pairs is very poor.

But you can still trade EUR/USD, GBP/USD, USD/JPY, EURJPY, GBPJPY.

For e.g if you want to buy EUR/USD, that means you are buying Euro and selling USD.

so you simply buy EURINR and sell USDINR, the quote currency INR gets cancelled out.
since you sell INR in EURINR pair and buy INR in USDINR pair, i.e you are long EURUSD.

similarly you can trade GBPUSD and USDJPY, EURJPY, GBPJPY on nse.

of course there will be two transaction involved , but that is best you can do given the choices and liquidity on NSE.

The issue is volatility picks up at around 5 in the evening when the London/US markets overlap. But sadly we close trading at 5. Such geniuses we have at NSE/SEBI.

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I want to on zerodha does it allows dinar trading I can’t find I can only find USD and euro

Cross-currency derivatives aren’t yet available. You can trade only in USDINR, EURINR, GBPINR and JPYINR. More details here.