iCharts Discussions

[chinturao]

Hi,

Want to know -
if an indian resident is allowed to trade in forex? i.e buy and sell currency pairs.
How to go about it? resources - any brokerage account that helps us?

any info in this regard would be helpful

Thanks,

[shravanjupally]

yes, indians are eligible to trade the forex markets and one of the best brokers in forex is fxcm.com , fxcm.com also has fxcmmicro.com where you can trade micro lots and the spreads are also competitive but you should know that forex is an unregulated market unlike NSE BSE which are regulated by the SEBI. But if you make a weakly payout of your profits there should not be any problem.

[lasya]

Hi PT/ST/KAMAL

Please let me know if the charts provided for currency futures is for MCX-SX or NSE or both.Also do we get a few of the active options traded on USD/INR


Thanks and Regards
SUNRAYS

[ProTrader]

Hi Sunrays:

They are for MCX-SX. We do not have currency options yet.

--PT

[shekharinvest]

Forex Trading is illegal in India for Individuals.

Though one can trade in Foreign currency futures as traded on Indian bourses.

Here is the link to recent clarification by the RBI http://articles.economictimes.indiatimes.com/2011-02-21/news/28618054_1_forex-trade-portals

SHEKHAR