Okay so I’m so confused about forex trading in India. I read alll RBI laws and according to 2015 we can trade all inr pair and 3 cross currency pairs are now legal. EURUSD, GBPUSD & USDJPY.
But honestly, I wanna trade all because of the opportunities. I’ve spent much time in learning this stuff too.
And as everyone says OCTA fx is legal. And their customer care too said that they have clients from India trading. So I don’t know who to trust rn.
There’s a channel on YouTube AJAYMONEY I talked with him and he said he’s trading it since 5 years and no problems, my another friend in our forex group said don’t worry about legal issues till you make like 10 lakhs annually.
Any suggestions???
Hi, contact the department that oversees the exchange, I think you will receive a specific answer there. Regards Greg
Forex is a legal issue , no way to avoid it , but the transaction deposit and withdrawal is the problem and some countries dont allow this kind of , as like India. but lots of trader right now there is.
I would remain within legal limits. That way your broker cannot refuse withdrawals without you having legal recourse.
It may all just be fine until it’s not. You don’t want to get in their cross hairs. It will make life hell for you.
I just came across this video on YouTube which claims to clearly explains what is legal and what is not when it comes to forex trading in India. The video is in Hindi. The publisher also provides his email address. Perhaps you can email him for further questions or clarifications.
you got the real point , thanks for your nice information. the main deal is how to withdrawal.