Hello Everyone,
As far as I know FX trading is only allowed with INR as base or quote currency in india. Unless you take special permission from government, I would like to know workaround this.
Thank you
Hi,
To work around something that is a law means you want to do something illegal in your country. That is not a good starting philosophy. Before you think about working around something, first decide whether participating is going to be profitable. I don’t know any country where you would be paying tax on a loss-making venture (maybe except Syria, where they tell you what to pay first, and you negotiate it downwards after the official tax demand, regardless of P&L)
That special permission is most likely there for a reason. And that would be to discourage poor people from becoming even poorer.
Thank you, I found that India has allowed forex trading on some pair, but I will be quiting FX untill I found stable continuous source of income.
Thank you for taking care of me.
That is a very clever decision, in my opinion. Sometimes the path to our dreams is not a straight one and if we need to divert a little from the straight plan, so be it. Try to find a conventional job as the easiest way to be able to eat (I know that is very difficult in some countries) and use some of your free time to educate yourself on the internet (including the Education section on this forum).
As you will be acutely aware, your country bases much of its personal wealth on physical gold - because of past currency inflation. I am a great fan of physical silver and gold, preferably the first because it’s easier to trade an ounce of silver to many people instead of an ounce of gold to only the richest 1% of people in the world. I also recommend you use the search button top right of screen to just browse through some of the thousands of posts on this forum. Worth their weight in gold but like mining for gold you may have to do a lot of reading work to find the gems (and the gold) 