No it isn’t legal. Actually, trading any derivative product outside of those which trade on recognized Indian exchanges is illegal.
Under the liberalized remittane scheme, you can take out upto $275000 a year out of India to invest. It can be used to buy stocks, real estate etc. But you are not allowed to trade any margined/leveraged products.
according to which law ?
I was told that it is legal under FEMA1999
Moreover it is not a margined product…
Actually it is illegal under fema99 .
How ?
I consulted a lawyer and it is legal , under FEMA.
Please don’t post your homemade opinions as there is too much ambiguity around this subject matter already.
actually you can trade via bitcoin…its 50 % legal and50 % illegal ., because no one can able to trace bitcoin address
little bit trading under 5000 rupee not affect the inr rupee reserve… some lawyer too don’t know about this matter…