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FAQ
Get Informed About Currency trading in India
"Success in forex trading requires discipline, hard work, and a willingness to learn. But with dedication and determination, anything is possible."
IS FOREX TRADING LEGAL IN INDIA IN 2023 ?
"Yes, forex trading is legal in India in 2023. The Reserve Bank of India (RBI) has issued guidelines for the operation of forex trading in the country, and it is regulated by the Securities and Exchange Board of India (SEBI). Indian residents are allowed to trade in the forex market, but they must do so through registered brokers and exchanges. It is important to ensure that you are using a reputable and regulated broker when trading forex in India."
WHICH CURRENCY PAIR IS LEGAL IN INDIA?
Currency trading in India is allowed in the following pairs only:Â (USD/INR); (EUR/INR); (JPY/INR);(GBP/INR); (EUR/USD); (GBP/USD) and (USD/JPY). Forex trading is facilitated on the National Stock Exchange (NSE), Bombay Stock Exchange (BSE) & Metropolitan Stock Exchange of India Ltd.
HOW CAN I TRADE FOREX IN INDIA?
In India currency futures can be traded in popular exchanges like NSE, BSE and MCX. The trader here needs to open a forex trading account with the broker, and trading is done between 9 am and 5 pm. The trades do not involve any physical delivery and are cash-settled.
HOW MUCH CAN A BEGINNER TRADER MAKE IN INDIA?
You can earn anything from Rs. 100 to Rs. 10,000 or even Rs 20,000 in a day with intraday trading. But this depends on your risk appetite.
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