As we all know that traders in India have not been able to do forex trading in cross currency pairs legitimately due to RBI regulations. So far, all currency pairs are bench-marked against the Indian Rupee INR. This has an inherent disadvantage if you want to trade international pairs.

Forex Trading: Do it The Right Way - Karvy

Recently, NSE has announced that it will launch cross currency pairs. They will be launching 3 global currency pairs: Futures contracts will have 12 months contracts available in addition to monthly contracts. Whereas options contracts will have: This is an illustration so you can understand better. The second major activity happens during the evening when the American markets open. Overnight positions can pose a risk management threat during times of great volatility and strong trends.

The existing forex contracts which are benchmarked with the INR USDINR, GBPINR etc. The time extension for the new forex trading pairs are to accommodate for the actively traded hours of the day. However, in spite of this time extension till 7: Value of a Tick: We are very positive about this new initiative and will provide the necessary facilities to our clients to trade in this these new global pairs when NSE officially launches. Hope this post has answered all your potential queries.

FYERS was started as a mission to enhance the terrain for traders and investors in India.

They were planning since , there is no statement regarding cross currencies are coming How you came up with such thing? Tejas is absouletly right. Anyway Tejas, lets make your webpage alive and breathing…becoz non in India talking about this stuff at all…laughs. Can you go thru and tell us what they mean by 8th of august? Curious to know is it illegal to trade through existing CFD platforms. Is it a punishable offence? If you mean forex platforms that give 1: They are illegal dude..

What do you mean by it is illegal? There is no such rule.. I have worked in forex company using MT4 based platform and we had many clients. How come only you guys are writing about this? Is there any dal me kala? Or is it because it is not official yet? Thanks for your proactiveness sir.

Only in comments section I found out why so much leverage is given by forex platforms like IC markets. Once a thing is on its on.. As one great person called osho said even people like osho born in India! You think a coin be having both sides alike? In India they always take time to launch something new. Always afraid and slow to adapt. U guys should write a request letter to the govt. No hope no worry. Sir if NSE starts EURUSD then how much margin , and what 1 point value , exetra in your view just asking.

Sirji yeh NSE waale nautanki baaz tho nahi kar rahe hai? Kya pataa aise hi maze le rahe honge sabki.. Govt walo pe koi vishwas nahi.. Yeh story bhi aise hi lag raha hai. Sir is metatrader 4 and metatrader5 platform is legal in india? There are always new things coming up but I promise you one thing that our cfd platforms have always existed in india and will continue to exist even after NSE forex trading starts!!

Because you brokers cannot give as much leverage. This article is just completely informative. Many new facts and information which I have not seen before. TEjas Khoday, like you said, I have traded with those scamsters before. Good that you are increasing awareness about this subject. Ham sab khoday bhai ko leader bana ke koi PM MODI ko request kare ke bhai..

Modi ji ko aur unki office ko ye fyers ka page or comments dikaye aur mehsus karaye ke bhai log frustrated hai! Very well written article Tejas Khoday and good initiative to explain these things in detail. I have given my details please call me so I can open an account with Fyers.

Its now official one year! Indian government said last year, WE are introducing cross currency pairs no cross nor currency has come! Well as I said, this is INDIA, anything is possible…. People are waiting in q at atm n banks for hours n hours LIKE us here…ROLLs. Explained in great detail. Now I understood why it is not so easy to launch currency product. Overnight risk is high.. The only reason Indian government does not allow marginal trading in international currencies because USD reserves in India will get over if Indians do marginal trading through international brokers.

A way around this is to open an INR account with Neteller and transfer INR abroad and deposit USD through Neteller abroad. In this way it is legal, as US dollars in India are not used. Neteller INR account is located abroad and so INR to USD is done abroad in Europe and not in India which is perfectly legal. If forex trading was illegal for so many years why was SEBI not arresting them? Now just because NSE is launching, they are taking their illegal competition seriously?

In India, only the big stuff matters. I lost in lacs that too in 1 month through IC markets. They use to charge me for carrying forward position which I got to know was a scam after trading in Nifty and other futures through stock exchange.

Could you provide us with any sources and links that will help up us get a headstart in cross-currency trading like learning the cypher pattern, etc.? And when the cross-currency market open!! Dear khode sir, Long time, what is inx? Can you tell us what kind of trading instruments it is going to give? And can Indian citizens trade in it? I meant non nri….

I have been coming across your site often on google. Let me know when NSE starts it. I have pinged my number in ur registration page. Hi Tejas, Read your stuff which is very informative. Let me know when NSE starts with Cross currency futures. Finally someone is discussing sensible things here.. In my guess they will launch Forex after NSE IPO. Dear Tejas Khoday Please inform me when it starts My E-Mail -nakshathris yahoo.

Right now brokers in mumbai are calling the persons for cross currency trading by saying that the person will deposit money in rupees and recieve profit in rupees thru them.

So there is no legal problem in this, is this right. Actually one person has contacted to me by saying that we trade in a forex currency,if you invest with us we will return you approx double in a year and that is on monthly basis returns. He is giving 12 PDC of PSU bank. Hello Tejas, Actually one person contacted to me by saying that he is trading in foreign currency platform EURUSD GBPUSD through liteforex company.

This is the best-written article so far on forex trading in india. It is really a great post, I need your advice if I could start with any of these following as I hope all of them are regulated by SEBI.

Please Suggest which platform would be great for online forex trading is good and legal in india and I hope leave of 1: I was reading all the coments and your so good infometive response and reply to them. I am really thankfull to you. Sir i want to open online forex trading account with global broker like fxtm or etoro and want fund deposit through neteller as per the justification given by Mr Simon dated 11 Dec Is it will be permissible as an Indian trader. Hey… How you doing Mr.

Am a forex trader here.. Good to see you. I have some large fund in Dukascopy Bank. If i give withdrawal request to my Indian bank account is there any issue i might be end up facing. And how about taxing. Plz guide me if you can.

Good to hear that you worked for zerodha. Am a neighbour of Mr. Nithin from Shimoga, Karnataka. Hey tejas, You seem to really know what you are talking about, my question is about binary trading, is it okay if i do binary trading from india? Also what about the tax on the profits from binary options, what should be shown as the income source?

The Indian government and securities regulator is very conservative and restricts you Indians from transacting in global markets. Full of restrictions, forex trading is globally recognized and accepted but dealing in India is a big issue as there is a lack of willingness and awareness from your citizens.

Lots to learn and advance. Hello all, I am been following this post since official one year and above. The cross currency trading in India is probably mummified issue! Better trade something liquid like currency as well..

So, guys which stuff giving you good liquidity? Has NSE forgotten what the hell is this why are they taking so much time?

Been waiting since ur blog. Hi Guys, Any update on this. I heard NSE will is planning to launch these instruments after increasing their trading time upto Tejas Bhai NSE walo ko bolo ki USDINR move hi nahi karega tho trade kaise karenge?

Kam se kam EURUSD mein to kar sakte hain.. Ek product launch karne mein saal bhar lagaenge tho hamaari wat lag jayegi.

FXB Trading has earned the trust of hundreds of brokers and traders as a result of its vast range of analytical tools. In addition, it supplies various types of trading platforms which allow traders to have full control of their trades.

Rampage, why would we tell you a story? If you have doubts, check out our post dated We provide valuable information on our website. Track developments on https: Leverage is lower compared to CFD platforms..

It is important to understand why. Whereas NSE is a legit exchange so you have counterparties. Hi there, I am in touch with NSE officials. The matter seems to be pending with SEBI.

Getting such product approvals does take time with the regulator. I shall keep you updated when the good news arrives. The circulars you quoted in your msg. It means that this uncertainty around Strike prices will be resolved by that date. Dude get your facts straight.. First of all it is not a real market. But it is going happen. Bhavik, just making the audience proactive about future developments. Our markets have been a lag in comparison.

Generally when there is leverage on the table, traders more often than not, make use of it. Overleveraging always kills the trader. No it is not legal to trade with international forex platforms.

Hi Arun, yeah its true that this has been pending for a while. Financial markets are abound with opportunities. Thx, we hope so too. For EURUSD it will be 0. End of year is about 90 days away. Since we have not received any official communication from them yet, I doubt it. Wasim, CFD forex trading platforms are illegal in India.

Yeah due to the lack of law enforcement, this menace has survived many years. They provide massive leverage like 1: That means that even if the contract moves by 0. In that sense, it is like a casino. So effectively, they are betting against you. They have several tricks under their sleeves to fleece your hard earned capital. Suggest you wait for NSE to launch it officially and trade in a legitimate manner. A demo forex contest as in Virtual trading in forex?

Why will RBI penalize trading which is not a real exchange of currencies? Abhi, forex platforms basically run on Metatrader 4 and metatrader 5. It is the business of CFD trading in forex. Moreover, in comparison our trading platforms shine brighter. Suggest you try using Fyers One to see the real difference. So the actual truth is that excessive leverage is an obvious disadvantage.

Too many people get lured into it too easily. I encourage people to look beyond leverage. Things are changing fast. If you trade with an ECN broker then they are not taking a trade against you and are simply providing you an oppurtinity to trade with different banks. To trade forex we should be looking for an ECN broker which is requlated by financial authorities in countries like america,Australia and England.

What you are talking about is a broker who is a market maker. Unrealistic leverage is dangerous either way. To know what ECN Broker is, click here. Hi Manish, you will be notified when it happens. It was communicated that they will start with futures. Of course Indian citizens will be able to trade in it. Hi Akhilesh, glad you found it useful.

Based on my personal interactions with NSE officials, they have said that they want to start off in Indian hours. No you should not. The promise of doubling your money in a year is not new. As I said earlier, please ignore them. Do not fall prey to such schemes.

Trading via CFD platforms through MT4 is not the right way to invest your money. Instead, invest your money in stocks or trade in currency segment on NSE. It makes much more sense.. I am not sure if Nord FX is regulated. You should ask for a SEBI registration no. With regards to Zerodha, they have the same license that we have. Hence, when NSE launches Cross-currency pairs, we will offer it too. Yes, we will workout a leverage that makes sense to traders of course.

Thx for appreciating me. It is not legal to trade with CFD based foreign brokers from India. The very concept of cross currency trading is illegal and is prohibited. Keep in mind that these entities that you referred to are not regulated by SEBI in India. I strongly recommend you stay away from cross currency trading unless one of our exchanges launch it. In the meanwhile, you can trade Indian pairs like USDINR and others.

Khoday sir thanks a lot for your so quick response to my post. It is really highly appreciable. Could you kindly suggest me any usd inr pair broker who provide market timing 24 hours. I will be thankfull to you. I suggest you open a trading account with us for free and trade on our platforms. To my knowledge is illegal as it does not happen through Indian exchanges. Besides, there is a crackdown on Binary options in several countries.

It is best avoided. Please understand that there are better and legitimate ways of doing things.. Why trade binary options? Attention of the Authorised Dealer Category — I AD Category — I banks is invited to A. DIR Series Circular No.

Forex Trading In India

Further, AD Category-I banks were also advised to exercise due caution in respect of the accounts being opened in the name of individuals or proprietary concerns at different bank branches for collecting the margin money, investment money, etc. With a view to further strengthening the restrictions on such online activities which are in violation of FEMA, , AD Category I banks are hereby directed as follows:.

Road, Mumbai — in the format provided in the Annex to this circular. If it is observed that the concerned AD category I bank has failed to carry out the measures as outlined above, Reserve Bank of India may proceed against the defaulting bank under section 11 3 of FEMA, and take any action as may be deemed necessary.

AD Category — I banks may bring the contents of this circular to the notice of their constituents and customers concerned. The instructions contained in this circular may also be brought to the attention of the card issuing companies who may also be advised to remain alert against permitting payments for such unauthorized transactions.

CFDs are not known for the best reasons. You are wrong about financial awareness. A lot of people know about CFDs being illegal. There are some issues that concern these bodies and hence, the implementation is stalled. The trading time was initially planned till 7: I will trade more and give you more transaction charges lol. After my recent interaction with NSE officials, we have learned that there is an issue with settlements upper cap on dollar-denominated investments.

Open An Account Refer A Friend. TRADING PLATFORMS Thematic Investing Fyers One Fyers Markets Fyers Web Trader Tool Box Mutual Funds Pricing About Us Brainstorm SERVICES CUSTOMER SUPPORT Fund Transfer Downloads Feedback Fyers Circulars FAQs Fyers Focus Contact Us SIGN IN WEB TRADER BACK OFFICE.

Take a look at the table below for more clarity. Example 1 — Futures MTM Settlement: Checkout examples of how futures trades will be settled in all 3 forex pairs.

Example 2 — Futures MTM Settlement: Example 3 — Options Premium Settlement: Example 4- Options Final Settlement: Here is an example of computation of final settlement price: How to use intuition to predict the stock market.

Unique Stockbroking franchise opportunity in India. Quantity Freeze Limits — What you need to know. Rangnath May 12, When this going to start any information on this please update me? Rampage May 28, Nimbalkar June 10, Tejas Khoday June 23, Ravi June 29, Very informative information sir..

But much better for sure..

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Rampage July 16, Anyway what is your update? Rampage July 23, Ashok July 27, Vaas August 12, Navdeep Singh August 12, Tejas Khoday August 12, Will write a post about it soon.

Sanchit August 13, Forextime August 13, Tejash Ji any update on the same? Ravish August 28, Rampagee September 3, Rampage September 5, Tejas You think a coin be having both sides alike? Manju September 14, When we get cross pairs trading sir. Arun September 17, Amarjeet Singh Kukreja September 19, Manju September 21, Manju September 26, Sir I dine a calculation as per that may be to rs per 1k unit.

Bhari Export September 26, Wasim September 29, Abhi October 1, Forexdemand October 6, Epic Research October 12, Kumardino October 25, Raheem Forex Trader November 4, Hari November 18, Me too got to know about CFDs only after reading your comments. Ashok N November 25, Ranganathan December 1, Please in form me , when the sebi Announce the cross currency legal.

Mango December 6, So basically fx trading on platforms such as eToro, etc. Ritvik December 8, Simon December 11, Raghu December 21, Manish Paul Simon December 24, RAMPAGE January 10, Girish January 25, Very nicely explained hope it starts soon….

Joshua January 25, Akhilesh January 26, Manish FX January 28, RAJ February 8, SEFARD February 22, Brijesh February 23, Superbly written article by you sir.

When NSE launches only god can tell. Vivek Singh February 26, Mayank March 6, Hello Tejas, It is really a great post, I need your advice if I could start with any of these following as I hope all of them are regulated by SEBI. Sandy March 7, Looks like NSE has gone to sleep after making big announcement. Stalin Johnson March 13, Ram March 16, Any updates on the currency pairs other than INR.

Jamal March 17, Dear Khoday Sir I was reading all the coments and your so good infometive response and reply to them. Ranjit March 20, I think NSE is waiting for IPO before they launch this. Ranjith March 27, Sujay April 3, No leverage Also what about the tax on the profits from binary options, what should be shown as the income source?

Thanks In Advance, Please Respond! Forex Trading Academy April 3, RAMPAGE April 12, Rahul April 24, Charan May 10, Think so NSE has forgot about it and is planning to make money in IPO first. Bhaskar May 21, Tejas Khoday May 28, Tejas Khoday June 30, Tejas Khoday July 20, Tejas Khoday July 25, Tejas Khoday July 27, Navdeep Singh August 13, Tejas Khoday August 16, Tejas Khoday August 29, We shall update you as soon as we receive news or a circular.

Tejas Khoday August 30, Tejas Khoday September 3, But hey, think about the flipside. Tejas Khoday September 6, Tejas Khoday September 15, Manju, we are anticipating it too. Will notify our readers as soon as we get some new info. Tejas Khoday September 19, Tejas Khoday September 20, Tejas Khoday September 21, Tejas Khoday September 26, Please go through the content again. The calculation methodology is mentioned. Dheeraj Rakhiye Ho Jayega!

Tejas Khoday September 29, Tejas Khoday October 1, Tejas Khoday October 2, Tejas Khoday October 10, Tejas Khoday October 12, Tejas Khoday October 25, Tejas Khoday October 28, Tejas Khoday November 15, Sahil Singh December 4, Tejas Khoday December 6, Yes according to RBI rules it is illegal. Tejas Khoday December 24, Tejas Khoday January 10, Tejas Khoday January 27, Tejas Khoday February 1, Udhayprakash February 2, Tejas Khoday February 2, Tejas Khoday February 8, Yes, the profits will be settled in INR.

Tejas Khoday February 22, Tejas Khoday March 8, Tejas Khoday March 16, Tejas Khoday March 17, Tejas Khoday March 20, Tejas Khoday April 3, Chetan April 9, With a view to further strengthening the restrictions on such online activities which are in violation of FEMA, , AD Category I banks are hereby directed as follows: Yours faithfully, Rudra Narayan Kar Chief General Manager-In-Charge. Your right, Binary options are so blatantly risky and useless.

Tejas Khoday April 25, Dharmpal May 10, Tejas Khoday May 22, Fyers One Fyers Markets Fyers Web Trader Tool Box Mutual Funds SiteMap. Downloads Fund Transfer FAQs. Quantity Freeze Limits — What you need to know March 29, Avoid paying excess STT on Options Expiry March 9, Book Review February 28, Kindly make sure you read the account opening documents as prescribed by SEBI.

Issued in the interest of the investors. A client can also opt to write to NSE here. Use it for FREE and give us your valuable feedback. Take advantage of volatility using intraday trading scanners. Find unusually high volume stocks on Fyers One.