Trading on behalf of foreign clients
This query is : Open
29 November 2012
hi,
i am a trader in the indian commodity markets. i have a few friends/clients abroad who are willing to invest money.
all that i want to know is that - is it legal for me to trade on their behalf in CFD's forex and other speculative instruments available in the developed markets.
they will be opening the accounts in their name and i will trade on their behalf from india, but i will not be depositing any money in $ to them.
PLease let me know. if there are any permissions that need to be obtained for the same , pls let me know
i am a trader in the indian commodity markets. i have a few friends/clients abroad who are willing to invest money.
all that i want to know is that - is it legal for me to trade on their behalf in CFD's forex and other speculative instruments available in the developed markets.
they will be opening the accounts in their name and i will trade on their behalf from india, but i will not be depositing any money in $ to them.
PLease let me know. if there are any permissions that need to be obtained for the same , pls let me know
30 November 2012
Hi
As per our knowledge. The can only trade if they are traded with registered DP. You can not trade on behalf of friend/client.
As per our knowledge. The can only trade if they are traded with registered DP. You can not trade on behalf of friend/client.
30 November 2012
Dear Mr Mishra,
Thanks for the response. Can you please elaborate? for eg: if i ahve my friend open an account in NYSE through a registered broker of that exchange - what are the things that i need to do to trade in his account from India
Thanks for the response. Can you please elaborate? for eg: if i ahve my friend open an account in NYSE through a registered broker of that exchange - what are the things that i need to do to trade in his account from India
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