Unfortunately I am born in India where what I can do is defined by the government. Lets say I am ready to do anything to do forex trading legally, what are my options?
Speaking my mind here…
Do I need to shed the Indian Citizenship? If so will the India tag ever leave me?If I become an NRI/acquire citizenship of a different country will I be able to do legal Forex trading?
Considering politicians are the above the law, is there any special condition where I can trade forex legally?Becoming a politician in India will improve my chances for Forex Trading?
Being a diplomat maybe?
Create a company on the British Virgin Islands?or Cayman islands?Will it be complicated but a guaranteed one?
As a human being, what do I need to do in order to do Forex?
For people suggesting cross currency trading please back off.
@Jontu you are speaking as if you’ve 100 Or 200 Crores Rupees with you (Trading Capital). I bet you… with in next 2 months of Trading Forex legally you will be in debt (minus). Always remember… Craziness is inversely proportional to Trading Success.
@AkashKB if I had 100-200 Crores I wouldn’t be putting that money in trading .No rich people does trading like you and me in. There is nothing craziness about my question. Its pretty simple if you know how to comprehend the sentence.
@newguy I didnt say I am bigger or smaller than anyone. All I want to know if there are any legal options for trading Forex and i have put down some of my thoughts . If you have any thoughts/you know the answer of the question you can help
Also being Indian is not that unfortunate as you may think. More people have been lifted from poverty in India than in any other country even after all the negatives you hear about it.
@Jontu if you are a Professional Trader you must be aware of… Trading is just a pattern recognition number game. Where the trader trades the sentiments of the crowd (Bullishness & Bearishness) by cutting the Bad luck immediately and running the Good luck as much as possible.
Do you have a good track record in any number game like Stock mkt Or Commodity mkt Trading? If yes, then go ahead… take a citizenship of US and trade Forex. Very soon you will play with millions & billions for sure. Best of luck.
Yes atleast we are not China. They are detaining Muslims in camps and no country bats an eye on them. While a stone pelting in kashmir results in hearing flak from Pak ambasadors in UN.
if you leave india for trading forex, that would be the most stupidest thing you will ever do in your life time. Don’t get me wrong and please don’t take this statement the wrong way. I just had a good laugh.
The reason why you will regret it as below.
Currencies are not meant to give you returns like equities. They are controlled by govts and central banks , it wont rally forever or decline forever, they are mostly range bound.
For e.g
The annual returns for major forex pairs for last year were between 2-7%, as compared to indices of emerging countries including india where the average annual returns is somewhere from 20-25%.
Dont take my word for it, do your analysis and see for yourself.
Now , you are thinking but i m not going for investment , i am gonna day trade and become a millionaire in no time. Guess what, the daily volatility of Major forex pairs is about 0.3-0.4% . you really think you can squeeze out all that tiny returns in day trading , everyday. well good luck.
In the entire world, only US and emerging countries are giving returns and thats where all the money is going and you want to run away from all that. Think about it.
All the money to be made is right here in this country, but most people don’t see it.
if for whatever reasons you are not convinced , let me know the reasons. i will help you out.
What makes you think if the scrip is not manipulative you will make profit at the end of the day? Have you even tried trading USDINR pair or EURINR on NSE CDS?
what gave you the impression that markets are manipulated. Not all markets are.
I m not asking you to trade in some crappy illiquid stock. I m talking about large caps and midcaps and to some extent small caps.
you cannot manipulate the stocks in large and midcaps. These markets are quite liquid and give decent returns over the years.
Now coming back to your computing strategies. Are you planning to be a HFT or planning to work for a HFT firm. Retail cannot do HFT.
you can participate in NIFTY and a good few giant or large caps. I don’t see what the issue is here? These markets are big so not one entity can manipulate and you have enough opportunities and you can decide on the risk/reward.
I still dont get your point, are you saying you want to trade like HFTs?
@trader_dude thanks for your points. I donot want to converse on these topics further .I think I am driving away from my question. My whole point was to know how can I trade forex leagally and I will keep it that.
@newguy dude please comment if you know any ways I can trade Forex legally .
Please refrain from other points as to what I have done and I haven’t done. I don’t want to have an argument with you. My whole point is to know the answer of my question.
It’s a shocking news 
