How does forex trading work in India?
Forex market is one of a few things nowadays, which attract a lot od the attention due to the fact,
that here it’s possible to earn real money.
Forex currency trading in India is mandatory for pairs using the national currency.
Such things as futures, options, binary options traditionally refer to trading derivatives. As for
the activity of accepting the national currency and transferring it to a trading pair, nowadays it
requires an additional license. Therefore, for legal trade nowadays there is a need in a License
from the National Bank of India.
Around the world nowadays traders use either a local broker based in their home country, or
international, that offer a good, reliable experience. The difference between the two types can be
minor, and in some cases, it's just a matter of where they are licensed.
Forex in India is a great way to earn extra income, however there is a lot of confusion around to
practice and whether or not is legal. Of course, the Reserve Bank of India (RBI) has many
restrictions on trade, but still there are several ways of living in Indian trade. This is an
understanding of these laws and how they treat you, which is important.
It is still possible to trade, and no matter that there are many restrictions,. In order replenish your
trading account you can not open a foreign bank account. But today there is another possibility –
to trade in currencies with registered Indian brokers, which are local. With the hekp of the IRB
nowadays residents can trade in euro / indian rupee, pound sterling / INR / INR in dollar and
JEN / MNO. Still, there are some residents, who ignore the rules and use offshore brokers, but
they do so this on their own peril and risk.