Me and some of my few fellow trades friend was thinking to start our own prop frim. We have a enough capital, We want to trade only in commodities market (both Indian and international), but we are stuck with where we should establish our firm, India/UK?
If we establish the firm in India, the FEMA act will prohibit us from trading in international market, and if we based in UK than our broker(Interactive broker) doesn’t allow us to trade in India. what should we do in this situation ? If we open the firm in GIFT CITy (IFSC) will be able to trade in both the market ?
we choose interactive broker because its the only reliable broker who we can trust, who provide prop desk service like multi user login, CRM, Risk management etc. Is there any other broker who provide same service ?
If you transfer money out of India to this UK company, you still can’t do derivative trading (equity or commodity) with it, unless of course, this is for hedging purposes.
There is no regulatory right way to be able to do this.
