Offshore destinations are famous for its light touch regulation, if any. LegacyFX Review - is legacyfx. Corporations, Companies frex Institutions or subsidiaries of such Corporations, Companies or Institutions set up for providing financial services. Bedminster, New Jersey, USA. Indian fans of Forex trading have suffered another blow earlier this week, as the Reserve Bank of Regualtion RBI on September 17th issued a notification that orders banks to act tough on anyone involved in online Forex trading.

Forex Trading Information and Regulation in India The subject of whether traders are allowed to carry out forex trading in India is indeed a very controversial one. Residents are, however, permitted to trade in currency futures and options contracts, traded on the stock exchanges recognized by the Securities and Exchange Board of India SEBI in India, subject to the conditions specified by the Reserve Bank from time to time. A closer look at the RBI guidelines listed above clearly indicates that individuals are allowed to operate a forex trading account in India, but under the provisions of the appropriate laws which state that the only kind of forex accounts in India are those tailored towards forex futures and options contracts and not spot forex trading.

Even at that, only brokers recognized by the Securities and Exchange Board in India are allowed to accept forex accounts from Indian residents. One of the ways to operate a forex trading account in India for futures and options is to look for an international broker that has an office in India. Alpari seems to have opened an office in Mumbai, and many European brokers have also followed suit. It will be worthwhile to check this out.

Another way is to open a multi-currency currency futures and options trading account with a large international bank. This will enable the trader to operate a futures trading account in India without having to continuously exchange India Rupees for US Dollars and vice versa. You will be able to fund your account in Rupees and withdraw in Rupees, even if trading is conducted in US Dollars. The reason for using an international bank that also offers brokerage services is to solve the conversion issues.

In conclusion, we can categorically state that you can operate a forex trading account in India, but make sure to do so within the confines of the laws. Still Looking for the Best FX Broker? Plus is one of the best FX brokers in the world. Can you please suggest which large international bank in india allows multi-currency options trding. Plus AvaFX eToro Browse Categories.

December 6, at pm Reply. Click here to cancel reply. USD Gets a Reprieve through Weak Data, Euro Takes Hit. IC Markets Forex regulation in india forex regulation in india Record Trading Volumes With CFD Introduction. Tradeo Introduces Social Trading on Its Forex Trading Platform.

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Legal regulation of Forex in India Foreign Exchange Management Act, Currencies trading with Forex in India conducted only through national currency. Forex Trading Regulation in India. Individuals who reside in India and are interested in the Forex market must remember that many agents may contact them. Is OANDA a good forex broker? broker TradeNext said on Wednesday it has set up a subsidiary brokerage in India, Forex ; Regulation ;.