LRS scheme is not for margin trading in any way. If you are NRI may be you can check with local broker itself.
On the point number 37 . Registration fees is mentioned.
Is it refundable or non refundable?
Can one join a proprietary trading firm (based out of India having an office in India), and trade global forex markets through them ?
Yes, if that firm is allowed to trade.
can i invest some money in US stock like microsoft , google etc ,for better diversification when zerodha will allowed to invest in us stock
You can, need to open account and can start investing.
Siva really , zerodha is opening account to help investor to invest in USA market how please explain
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Will start in 2 months.
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Hey, haven’t gone through the whole thread, but will day trading be allowed in this account? If yes, will the US “pattern day trading" rule apply?
Day trading is not allowed.
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What exactly is the NRI route for trading forex outside India ? Suppose I have an NRI friend, I will trade from his account in the markets outside India, and someone from his family/friends will pass on the profits to me here in India ? Since it is illegal to trade forex from India, will sebi ever find out if the trades are being punched here from India ?
You are saying you will break the law and will someone find out?
No, I have already mentioned it is illegal as per fema, but I wanted to understand how people do it through nri ? Aren’ they concerned about such legalities ?
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It will come out one day, these days most of the things are online.Also I believe your friend won’t take this route considering the risk he has to face if this come out unless he is unaware of the consequences.He need to comply with foreign country rules.
That can be a option, although not recommended. Your friend/relative will also be subject to pay taxes on any gains you make.
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Can you link me to any circular saying Day trading is not allowed also that does not fall under margin too, and how will RBI know if I did day-trade or trading or investing, because once you open cash account you can do both day trading and investing activities in case of Interactive Brokers and all other big brokers like TD etc.
Hey, firstly when you day trade, as per Indian law it is considered speculative and the money in the account since it never resulted in delivery considered as margin. So immaterial of if you took leverage or not, it is construed as margin trading.
It is debatable, but I am telling you the most conservative inference to avoid issues. And of course, unless you declare, RBI will never know what you traded, it is all self-policing. If tomorrow there was an Income tax scrutiny and the ITO took an objection to your trading activity in the US, there could be a problem, of course the chance of that happening for a retail investor is quite small.