Finance, Forex and Investments - Is Forex Trading is approved by Reserve Bank Of India ?

Is Forex Trading is approved by Reserve Bank Of India ?

1. Is Forex Trading is approved by Reserve Bank Of India ? 2. Why does all Banks in India does not allow Wire Transfer ? 3. Why Does they ask many questions while wire-transfer ? 4. Is it possible to do Forex Trading from India ? Please reply...

Public Comments

1. Ask them. 2. They do obviously judging by 3 3. Because they want to control money transfers leaving the country. It's export of wealth and affects the balance of payments. 4. Yes. Open a forex broker account in another country that allows it.
for the three first questions you have already been replied by Hostatico. For the 4th question, yes you can start to trade forex also from India. I suggest you to use Marketiva, which has also an India chat channel in its platform where you can meet other indian traders, ask for details and maybe have a good answer from them for your 3 questions. Marketiva gives you 5$ real to start trading so you don't have to deposit and if you made profit from it you can cash out, this is why it's very good for beginners. Their platform is very easy to use and they have support during trading hours. To open your account please visit http://www.marketiva.com/index.ncre?gid=3371
Forex trading in India is allowed by RBI. Induviduals can trade upto US$25000. This is available in NSE itself.
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