It is not made illegal. India as a country does not have full capital convertability. Trading FX or sending margin money abroad to trade FX via any means is deemed illegal and in violation of FEMA
the RBI or the Enforcement Directorate does not define violation in context with the amount being involved. Refer to the link below for details.
Date: Nov 17, 2011
Overseas forex trading through electronic / internet trading portals
Liberalised Remittance Scheme
(updated up to November 13, 2013)
When i google for forex success stories, I can see lot of great successful individuals in the market. But I don’t see even a single name from Individuals. Am I not checking this properly or is there something which blocking us from achieving great success.