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do you think FOREX(EURUSD) will be legalised in INDIA
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jeevan007

Členom od Jan 27, 2012  26 príspevkov Jeevan s (jeevan007) Nov 19 2012 at 09:13
Indians are facing issues in trading forex, day by day its getting difficult in one form or other,most banks doesnt allow bank wire transaction these days, honest liberty reserve agents are hard to find, seldom we find forex mentor are real traders in market,, they teach but they dont trade,,, this discussion is only to share ur view on FOREX future in india,not for marketing ur products ,liberty reserve agents and forex mentors kindly do not post anything here

live for yourself
mycurries

Členom od Nov 15, 2012  1 príspevkov Dr Radha Krishna (mycurries) Nov 19 2012 at 12:11
I dont think they will legalise Forex trading in India.
Its a massive political process to do that.

valentine

Členom od Oct 31, 2012  30 príspevkov valentine Nov 19 2012 at 20:04
The problem is that FOREX is being transforrmed in a scam by most Introducing Brokers. I can give you as example my country, Romania, here at the moment, FOREX is being called a scam by most people who dont have enough experience. Why? Because here FOREX isnt forbiddent but neither legal (it's in the grey area), we have like a lot of Introducing Brokers offices over here who are calling potential clients non-stop and try to make them deposit with mostly false promises. Some of this people do a deposit and they start trading. Of course, as any begginer, they lose the money. Here, again the IB comes with the rentetion department and tries to convince the client to deposit more in order to get back the losses and to make profit. Of course this new deposit is also lost.

That's the first strategy. There is also another strategy where they give advices to the people how to trade and of course they put people with just a few days experience to trade even with 5 lots on 5000$ deposits. They are doing this beacuse they need volumes in order to get the money from the Market Maker who the do the Introducing Broker job for. Very many people got in this IB's traps and when they hear about FOREX they call it a scam instantly. And of course they say this to other people also.

If Forex would be legalized in India, exactly the same thing would happen.

valentine

Členom od Oct 31, 2012  30 príspevkov valentine Nov 19 2012 at 20:04
Oh damn it, i wrote my last text with so many mistakes that even I hardly understand it. I hope you people understand what i meantgrin Im just very tired at the moment....

jpslayer

Členom od Jun 24, 2012  27 príspevkov jpslayer Nov 27 2012 at 14:20
Oh Forex isn't legalize in India ??? I really wasn't aware of this. But is there anyone who can explain why it's not possible to trade forex in India ?? Jeevan, why don't you open a brokerage account with a foreign broker then ?? This will resolve the problem isn't it ??

jeevan007

Členom od Jan 27, 2012  26 príspevkov Jeevan s (jeevan007) Nov 27 2012 at 14:32 (upravené Nov 27 2012 at 14:35 )
jpslayer posted:
Oh Forex isn't legalize in India ??? I really wasn't aware of this. But is there anyone who can explain why it's not possible to trade forex in India ?? Jeevan, why don't you open a brokerage account with a foreign broker then ?? This will resolve the problem isn't it ??


although it is illegal,we trade through foreign brokers, we face issues during deposit of funds because we gradually all banks stopped remitting funds outside this country if we cant explain satisfactorily, liberty reserve is the only source which is widely used,, moneybookers also used to some extent

live for yourself
jpslayer

Členom od Jun 24, 2012  27 príspevkov jpslayer Nov 27 2012 at 15:21
Oh okay, i understand now. And what about deposits through credit cards like VISA Cards and Mastercards ?

jeevan007

Členom od Jan 27, 2012  26 príspevkov Jeevan s (jeevan007) Nov 28 2012 at 06:55
jpslayer posted:
Oh okay, i understand now. And what about deposits through credit cards like VISA Cards and Mastercards ? [/quotei

all modes are under intense scrutiny now,, we fear the existence of liberty reserve in the long run.. could not take anything firmly as of now,,but one thing forex manager are gonna have tough time soon,its better they give back the investor money and trade on their own money because things are pretty bad during withdrawal,so its good if they wait till the situation becomes normal, i myself a fund manager and advising my investors to understand the risk associated with this withdrawal,,brokers are not an issue here only the bankers,,, hope the issue get solved soon

live for yourself
jpslayer

Členom od Jun 24, 2012  27 príspevkov jpslayer Nov 28 2012 at 07:25
Damn that's really harsh. Good luck to Indian investors and traders then !! Thanks for the update Jeevan. Fortunately Mauritius isn't like this and we enjoy a complete freedom and trading, and the best in all these, capital gains are completely tax free !!! :-)

Jiggy

Členom od Aug 13, 2012  8 príspevkov Jiggy Nov 28 2012 at 08:27
Jeevan, I read somewhere that RBI has directed that US$200,000 may be invested by an individual outside of India, but not investments involving a margin call or betting. I can understand how banks may be behaving on remittances, causing grievous headaches!!

Only large corporations can do futures trading with their Dollar accounts, that too within a limit.

I think it will be allowed to small investors only when the Rupee is fully convertible.

jiggykapadia@
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