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Indian Resident Forex Trading through NRI friend's account. Page 1 of 2. I am an Indian citizen residing in India. Ooening have a friend in whose name I have opened a Forex Account in Dubai. I trade, I make money. Can I not show this as income from other sources while filing my Opening a forex trading account in india happy returns in India? If the taxman comes calling, I can say that I provide a service using my expertise in forex and receive compensation for the same.

Is there any other way of doing this deed in a legal manner? Re: Indian Resident Forex Trading through NRI friend's account. As a resident Indian you're not allowed to trade FX, but in this case aaccount can conceal this as there's really no proof that you trade. The statements will be in your friends name, imho you can always say you've invested your money with your friend and he generates the returns and passes on a percentage to you.

Should be permissible but make sure its not a joint account your name should not appear anywhere not even POA also please do check with a knowledgeable CA firm preferably a firm that specializes in FEMA regulations. The Following User Says Thank You to aryabhatta For This Useful Post:. Originally Posted by yogasutra. Originally Posted by aryabhatta. Originally Posted by vartika. As i m even planing to trade in the same. Few of my friends are trading in same way for abt years and they are safely trading.

Sounds like a good plan. Except i'm wondering how this money could be transferred to my friend's account. If I remit it I fored have to give an explanation as to what the purpose is. That I cannot lie about. If I say that I am sending it abroad for investment sake, will that be permitted? Originally Posted by wccount. If a resident Indian is not allowed to trade FX, not sure how these websites advertising like eToro and others who are willing to open FX account operate? Originally Posted by eToro Team.

I am not sure about the legal status of forex trading in India. What I can tell you for a fact is that we do have many traders in our social trading network who are based in India, and who have no problem funding their accounts through their banks. We haven't yet heard of a legal incident. I certainly do not mean to encourage you to break the law, if indeed it is illegal. The Following 2 Users Say Thank You to ztrader For This Useful Post:.

If indeed forex trading is illegal in India, by all means stay away from it, it's not worth the risk of getting in trouble with the authorities. Major depressive disorder severe symptoms, eToro accoung not a "bucket shop" and we do not hunt stops - we simply couldn't afford to even if we wanted to!

Here's a quote from investopedia regarding stop loss hunting:. The only tgading a broker could do this is by manipulating their data feed, which should never happen if your broker is regulated". We do not have a trading desk and we make profits exclusively from spreads, so that we have nothing to gain from traders losing their positions.

On the contrary, the more our traders gain, the more trades they open and the more spreads we earn. This is why we launched our social trading network - to help traders trade smarter together. Can i open a forex opening a forex trading account in india happy from US and trade in India? Stop Loss- Limit Vs Stop Loss - Market.

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Discuss Indian Resident Forex Trading through NRI friend's account at the Forex within the Traderji. I have a friend in whose name User Name Remember Me? Register FAQ Today's Posts Search. Forex Discuss trading the foreign exchange markets. Advanced Search Find All Thanked Posts. Join Date: Jan Thanked 4 Times in 2 Posts. Join Date: Oct Thanked Times in Posts. Thanked 5 Times in 3 Posts. Join Date: Nov Thanked 0 Times in 0 Posts. Join Date: Feb Thanked 12 Times in 8 Posts. You may not post new threads.

You may not post replies. You may not post attachments. You may not edit your posts. BB code is On. HTML code is Off Trackbacks are Off. Similar Threads for: Indian Resident Forex Trading tradng NRI friend's account. Full time Indian Resident FOREX trader?? How to become a non resident indian for the sake of trading forex 18th June AM. Trading account for indian Resident in foreign country 3rd May AM. Re: How to become a non resident indian for the sake of trading forex 2nd May PM.

Previously Resident, now Non-Resident: Can I invest using my old account?

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How to open a forex trading account in India. Opening a forex The Reserve bank of India (RBI), happy with the. Open live Forex account. Opening a live forex trading account with Forex4you is easy. we will be happy to help. Start trading. Feb 17,  · Discuss Indian Resident Forex Trading through NRI friend's account at the Forex Happy trading! «Can i open a forex account from US and trade in India.