Because international Forex trading for retail clients is not yet regulated. And no STT, education and Cess tax are not involved in international Forex/CFD trading. And anything that is not regulated and plays in such segments is called illegal in India. XTrend speed, best choice for trading: 1、Low investment, invest from $22, two-way trading. Reach your trading potential3、Easy and convenient. User-friendly interface4、Negative balance protection5、Sticky spreads and NO quotes6、Innovative PC trading application7、Trade the world`s most liquid market8、Our motto is „customer first arrive“, we strive to provide you with one of the best trading experiences at your fingertips.9、Our goal is to improve the online trading experience, Provide a stable and secure trading platform and provide specialized services to consumers, with which users can enjoy trading at their fingertips. XTrend Speed is owned and managed by Rynat Capital (Pty) Limited. Rynat Capital (Pty) Limited is registered as an authorised financial services provider in South Africa under registration number 2004/005384/07, regulated by the FSCA (Financial Sector Conduct Authority) under licence number FSP 23497. Registered office and correspondence address: South Africa. Address: 6 Willow Road, Northcliff, Johnnesburg, Gauteng, South Africa / P.O.
Box 2195We are dedicated to this product. We will continue to improve the properties of the product. We strive to introduce you to better XTrend speedOur official website: goxtrend.comIf you have any questions, please contact us: support@xtrendspeed.comRisk Warning: Trading carries high risk, please invest carefully. Hi Rajandran, Nice article. Thank you for clarifying RBI`s point of view. Reading your article presented me with a dilemma. I am currently an NRI who has been living in Singapore for several years. During this time, I successfully traded currencies. My husband was recently offered a job in India and we will accept the offer. We should be back by September 2013. My situation is that I have been very successful as a Pro Forex trader.
And although I won`t be sending money out of India for forex trading purposes, I would like to continue trading and hopefully transfer my profits to India at the same time. What would be the legal consequences of a situation like mine? Can I continue to trade in my own name and legally bring in money with the capital I already have outside the country? I would like to hear your comments. Thank you. Let me see in every offensive point in the RBI circulars where they were mentioned about illegality with draws, if no deposit or transfer from India, it is absurd to say that Forex is illegal, I have read all the stupid circulars abruptly and I can definitely say that transfers for Forex trading are not allowed and you also cannot use credit card transfers, but with draws from outside is not prohibited by RBI if you have not made a deposit from here. Trading Forex through online portals with such a type of money transferred is absolutely illegal, but if you already have a trading account and have not paid anything from here, you do not have to worry, you can trade and shoot easily without obstacles, RBI did not say anything about it in their circulars. Not even in a press release. Harry, please tell us how to withdraw winnings legally. Please also indicate how much you withdraw per month? It is part of the margin trading segment. Anything in the overseas margin trading segment is illegal for Indians. However, you can invest in stock markets, but you cannot trade. For more information on how to invest in foreign markets, click here. Don`t worry, it`s legal.
Simply use the online payment system for withdrawals and deposits, then the government may not be aware of your transaction. Can you please tell me whether binary options trading in India is valid or not? If I use my credit card, is there a problem with the withdrawal? @boral, I totally agree with you. Just control Forex investors and make it legal. This is stupidity and hypocrisy of the Indian legal system. Alcohol is prohibited in Gujarat. Have people stopped drinking? No way. Everything is underground. For a reward, you can get any brand and as much as you want.
And the stupid government loses tax revenue. Similar to sex workers. Sensible countries have legalized both and taxed both. That is exactly what I mean. Rajandran is right. You can trade through an NRI account at any time. It is completely legal. RBI ONLY does not allow money to be transferred from India to the outside world for speculative transactions or margin deposits. But I`m thinking about it. Open a legal offshore company, there are many viable sites, as I said.
Singapore, Dubai, etc. Then get (legal) capital to invest. After making a profit, you pay yourself a salary or consulting fee as a director or employee of the company. Pay taxes as needed according to the rules. I don`t know why people say it`s illegal. This is not margin trading. If you want to bet $10, you need to bet $10 and no margin. The RBI restricts margin trading. Maybe I`m wrong? Hi Lord, please tell me a legal way to trade Forex. Thank you.
Trading any type of online maring or gambling segments is illegal according to RBI standards. I need the best forex broker in India for forex trading ONLY ONCE I SENT $100 FOR FOREX TRADING VIA HDFC BANK CREDIT CARD 1 YEAR AGO. I HAVE RECEIVED A WARNING LETTER FROM THE BANK AND THE RBI STATING THAT THIS IS ILLEGAL ACCORDING TO FEMA AND IF I REPEAT, LEGAL ACTION WILL BE TAKEN. SO I STOPPED IT AND INSTEAD DID FOREX TRADING THROUGH MY INDIAN STOCKBROKER, WHICH IS LEGALLY ALLOWED. You all take note of this to avoid any legal action DR. ANAND Its very clear individuals, who consider marginal trading of International Forex pairs and CFDs as illegal, you need to read Bloomberg`s critical analysis on illegal Forex trading in India. www.marketcalls.in/forex/bloomberg-utv-forex-trading-is-illegal-in-india-critical-analysis.html I think Forex trading is legal if it takes place on MCX or NSE exchanges. Now, the HDFC Netbanking website itself says that foreign trade is illegal.
So consult all advisors/banks if you are involved in such activities. My case is similar to yours, formerly in Singapore and now in India. Try opening an international checking account and parking your winnings there and spending the money with the international bank card. I think it is purely legal, because it does not fall within the competence of the RBI. I really have no idea that Forex trading is illegal in India. Can you please elaborate and find out if it is legal in any way? If not, is it completely illegal? ok that the nomenclature website also intraday also my legal hope in.reuters.com/article/2013/09/20/india-intraday-idINDEE98J03Y20130920 If you are an Indian retailer, it is best to discuss this with your financial advisor and close your account. Since everything related to margin, CFD trading is illegal according to the RBI guidelines. Trading non-INR Forex pairs is illegal in India under FEMA. Please read this last article on the international legality of Forex and CFD margin trading, it is clearly mentioned in the RBI document. If you have any further concerns about legality, consult your financial advisor or FCA staff.
I called her as you help her, her words are not clear. I also know that you are also a Forex trader. Could you please tell me your approach to Forex India? If you see that it`s hard to say this in public comments, please send it to my email address that I provided. The confidence with which you say that Forex trading is legal if we pay the right taxes gives me good blood in my veins. I have a few questions. Hi Rajiv, the RBI has already issued strict standards for PayPal and other payment gateways in India to monitor these transactions. When you approach these companies, they very wisely say, „We operate our call centers in India“ to support our international customers. Can someone also give me a list (maybe small) that supports XYZ/INR pair and trading with that will be completely legal? Alpari India closed its doors in India. So, please, tell me some Indian brokers.
@Ram: You`re good with your argument. However, the fact is that anything that is not regulated is considered illegal. The most recent example is that sports betting is considered illegal in India. I think you will agree. The operation of casinos in most states of India is considered illegal.
