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forex trading in india

Sandeep Hambre, BTech, MBA,CMA (Working) (55 Points)

11 February 2011

can anyone tell me wheather forex spot trading allowed in india.?

i had search on net i found FX CENTRAL as one of 1 st rbi approved fx trading company in india. i know about rbi allowed trading in futures and options on nse but wheather spotforex trading allowed in india? is FX CENTRAL IS RBI APPROVED? ...If any one having idea about it please share...

if fx trading is allowed ....then tell me can any company able to enter in trading.......?

please provide any circular reference if u have?

i had open demo a/c on forex.com and trade in varrious currency pairs like EURO/USD GBP/USD.....JPY/USD

can i able to do in real here in india.....?

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3 Replies

forex4fun (Social Media Specialist) (24 Points)
Replied 20 September 2011

I really can't comment about fx central , but you can definitely start your research from here >rbi.org.in/scriptts/FAQView.aspx?Id=53
as far as trading yes you can still trade but yes it will be done by some other means. you can check these concerns with few brokers and double check with other brokers as well regarding the regulations. also many indians are trading in spot forex market all you've to do is thorough research of the broker you'l be trading with. there will be majorly all international companies and hardly any indian brokerage company. but still select a broker which has a local presence(office) .

good luck.

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duttafx (marketing executive) (21 Points)
Replied 03 October 2011

Hello Sandeep,

No Idea about Fx central ... yes you are able for real trading in India. I can help you by recomending you another broker with whom I am working since last 4 months , Nordfxdotcom forex broker in India that basically focus on assisting clients to open Indian forex accounts that enables you to conduct money or forex trading online.

There has always been a big debate about whether forex trading is legal or illegal in India. Well it is very much legal to trade FX in India if you are doing it through the NSE. Currency futures were banned until the RBI decided to toy with the idea after Indian rupee futures began trading on the Dubai Gold and Commodities Exchange (DGCX). Now forex traders are easily trading US dollar against the rupee online.

forex_d (Social Media Specialist) (21 Points)
Replied 03 October 2011

Hi Sandeep,

Well the issue about forex trading being legal or not is a controversial topic.

The market is likely to open in the near future for India too & will become legal. For now there are other ways to trade online.

You can check out xtbdotin with whom i've been trading quite satisfactorily.

But do check out their regulating bodies also their international presence & their funds hedged with whom and all. Its very important before trading with any brokerage firms!

I think you'll have a fruitful experience with them just the way I have been having.