Only investing legally with Webull in US Exchange?

General
1

Hello people, If you don’t know webull is a commission-free trading platform with huge variety of tools for US stocks.

Although it allows “intraday” trading which is illegal from India.

Is it legal to use that app to only invest, what If I don’t buy and sell stocks the same day but instead hold it for days and then sell like a short term investment, will that be legal to do so?

Don’t suggest vested, It does not include all the stocks!

Thanks, looking for legal advice

2

You can do short term investment also, no issues with that.

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3

Thanks, but Is it legal to use foreign broker which is not regulated in india?

And is it legal if I buy stocks today and sell the next day, will it be considered as short term investment or speculative?

4

If shares are in your account one can sell anyday, no concetp of demat in US but I think it will take 2 days to be in your account. BTST is not available.

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5

Thanks, But is it legal to use foreign broker which is not regulated in india?

6

Not sure if they allow but yeah should not be a problem regulatory wise, I opine.

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7

I think BTST will be legal right because it is not intraday?

If yes?

Will the BTST be considered in US time zone or Indian time zone?

Example:
If I buy 10 shares of tesla today at 1:29am IST (3:29pm ET) just 2 minutes before market close time in the US (US market closes at 4pm ET)

And If I sell the stock at 7pm IST the same day (that’ll be next day in the US around 9:30am that’s US market opens)

will this be legal?

Here BTST is done in US time zone not in IST time zone

Or should I follow indian timezone?

8

Have u ever traded on their platform? N also what remittance option do u have to open acc with them?

9

I just opened a webull acnt yesterday. Which took 5minute to open and 12 hour to activate.and their mobile platform in my opinion is the best I’ve so far. As far as I’ve seen , depositing in webull acnt from india is pretty straight-forward. Overall this broker looks perfect.
I’m planning to trade options but I’m little confused too about the indian regulations. Is there anyone who is trading in US can provide some suggestions regarding indian regulations for day trading in USA? If you are using webull too, please share opinion about the broker plz.

10

I had opened webull account in November last year but still not able to transfer funds hdfc telling me it is illegal to do transactions in crypto it seems RBI has banned it please help me in this regards

11

lol webull does not allow crypto and options trading for indians
seems like HDFC lacks info, go do it in icici they will help you

I got issues with interactive brokers too while funding through HDFC and got same issue what you mentioned

so I did through icici

12

RBI does not allow trading in derivatives in foreign markets.

13

Why hdfc won’t let you? U only need to add the webull acnt details in hdfc net banking facility. Thats it. After that, it’s ur choice how much u transfer and why. They can’t look into ur overseas acnt with webull.

14

Webull doesn’t allow crypto for indians till now, but u can use other indian platforms for crypto. That will be easy.
Also, u doesn’t need to mention specifically that u r going to trade crypto, thats why u transfering the money. mention only ST investing

16

How did you tranfer cash into it from india? Help would be very vry appreciatd