Is Forex Trading Legal in India?

sriyash

Forum Newbie
Hello all.

Please let me know, Forex Trading allowed in India.
Recently came to know that if we deposit either from credit card or debit card, cards are getting blocked and accounts are free-zed by the bank authorities and also getting notices from them as it is illegal to trade forex from India.

This is the link from Reserve Bank Of India - https://www.rbi.org.in/scripts/FAQView.aspx?Id=66

My humble request to Experts and Indian ForexTraders to clarify.

Regards
 

Lucitymo

Forum Newbie
It is legal to trade with Indian Brokers providing access to Indian Exchanges(NSE,BSE,MCX-SX) providing access to Currency Derivatives.
Currently the trading instruments are USDINR,JPYINR,GBPINR,EURINR.
Apart from that trading in overseas market in margin trading segment is illegal for Retail Clients.
 

bull375

Regular Member
Jeniferfx I am not sure if you understood the question posted by Sriyash? There are restrictions in India in trading forex as local residents are not allowed to deposit directly with forex brokers abroad. 5Stars forex does not fit the category for Indian traders. You sound like you are working at 5starforex.
 
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davidson333

Guest
Forex is becoming very popular in the world and also in India. So i think Forex would be legal in India soon.
 
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