Hi all,
As I remember only direct pair with INR are allowed to trade in india, but other currencies pair are not.
So my question is how forex trading are growing in India special they advertise have negtive impact on kods they sign up without knowledge.
App like Olymp trade
A few years ago I got “scammed” on Olymp Trade, the line always goes in the opposite direction of your “bet”, at least that is what happened to me.
That what happen, but my question is, is it illegal to trade other pair of. Currency in India
Trading spot FX pairs is certainly illegal. Trading futures is no problem as it will not impact movement of rupees at the RBI level.
Don’t put your money in those illegal apps. They are scam once you put your money they won’t let you take it out. I’ve seen people complaining that they have been scammed by such illegal trading app. They agressively advertise themselves on YouTube etc to prey on less informed people. There are too many forex trading scams only trade under SEBI approved brokers.