Forex Trading India

Trading
1

Why is forex trading banned in India? What should I do if i want to trade Forex??

2

Forex trading is not banned in India. Many brokers are providing the service but not openly advertising because nobody is interested. You can do forex trading in Zerodha also.

3

What forex pairs do you want to trade?

4

Forex is available Zerodha.

You can only trade with INR pairs. (USD/INR, EUR/INR, JPY/INR, etc.)

5

Bro he wants to become broker in NYSE and NASDAQ and you are asking such silly questions to him.

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6

Would suggest you check out this post:

https://zerodha.com/z-connect/sticky/the-twisted-world-of-illegal-cfds-binary-options

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7

Yes yes, my bad. :smiling_face_with_tear:

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8

:joy::joy::joy::joy::joy::joy::joy:

9

:joy::joy::joy::joy::joy::joy:

10

hey, shubh article is enough so people can understand that forex ban wont be lifted, but im interested in one thing, ppl who are into forex trading in india work for international market? or do they work for usa/chinese markets? any articles that can prove this, cus in my head this is great idea to work on other countries from india somehow…

11

Hi, I was trying to activate the NSE- currency exchange segment, and the attached declaration came for signing. I wanted clarification on point 1 and point 4 of this declaration.

Point 1 - I was not previously engaged in currency trading through Zerodha, so how can i give this declaration?

Point 4 - What do you mean by that the trader will provide “sufficient disclosure of the underlying exposure related to their currency derivative contracts”? What is the actual ask here? All the trading records will be with Zerodha, so what additional needs to be provided?
NSE Forex

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12

They really should remove this point. It makes no sense. Signing a known lie in a legal document could land you in huge trouble. Also it says “trading activities”, which is explicitly not allowed. Only hedging is allowed. @siva Pls remove it ASAP.

You need to have contractual exposure outside Zerodha. As per RBI, you can only hedge that outside exposure with currency derivatives and not really trade.

Also related:

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13

Ya I just read the RBI circular it seems retail investors cant trade in forex derivatives if they don’t have real underlying exposure in forex. In short only hedging is allowed.

Not sure if this is only in India or everywhere.

14

You are right, I also got confused due to the word trading.

1 Like