Newbie from India - Mumbai

Hi,

Can someone throw light on my below queries?

  1. Forex trading in India, legality issues and how do I overcome them if I want to trade? How will my income be taxed?

  2. Which broker would be more suited for me to start Demo trading and how many hours of trading should I put in before I even start of putting real money on the line (You can consider me an enthusiast and an average learner for the purpose of computing)

I have introduced myself in the “Introduce Yourself” thread

  1. Contact a lawyer and accountant to get these answers

  2. No one can answer question 2 but you. Cause the answer is depends on you. If you start here
    Design Your Trading System in Six Steps | Create Your Own Trading System | Junior Year | Undergraduate you’ll be able to answer this yourself. Anyone who tries to answer this question based on what you’ve written, will be giving you an opinion based on their experiences not yours. Good Luck
    Gp

  1. I know that there are lot of traders from your country trading on this or that way despite the legality issues so as gp00035 said you should contact someone from your country about taxing system in India.
  2. When it comes to forex education and trading experience I will recommend learning before earning mind set. The best way the get real experience is to open micro account with some small deposit and start creating your own trading strategy.