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1) I'm sorry to say that Indian brokers like Angel Broking or ShareKhan cannot provide any pairs other than USD/INR due to RBI limitations. So, in order to get EUR/USD, for example, you need to open an account with a broker abroad. In the future this may change, but this is the current...

Please stop selling those scary stories about landing in jail. No Indian resident has ever finished at a jail because of RBI excluding corrupted RBI chairman/top managers. Even if we imagine that Forex trading is forbidden by RBI and it is not, RBI would put a fine on you, not close you in a...

It is definetely an advertisement. Doesn't matter if you like this word or not. Otherwise you would have included link to the main page, and not some sort of affiliate link.

NRIs can trade with foreign brokers which is even better :) USD/INR is available with some international brokers. In fact, it was introduced in Arabic Emirates long time before India... What is bad about MCX-SX/NSE/BSE is that they are not 24 hour and there is a minimum contract size.

While absolutely true, Forex loses its benefits this way - many people want to trade Forex because of the leverage, because they can make good money with small investments... But sure - trading 1:1 is absolutely legal under LRS scheme. Probably, it's fine only for big investors (from 50,000+...

This question was answered million times here. You can refer to RBI's official website http://www.rbi.org.in to exclude possibility of misinformation. In short, Indian Forex brokers can only offer USD/INR right now. EUR/INR is planned to be added later. Foreign brokers can provide both...

That's an old version! It was further increased to 2 lakh per year. Check Annual Statement for 2008-2009.

In general, people pay taxes in the country they reside. So, if you live in India - you must pay taxes in India. It's a personal responsibility of every citizen to pay taxes on annual basis. Even if you sell your old TV to a friend and thus gain a revenue - you must pay taxes :) Of course, most...

Margin calls are not allowed under LRS scheme, but if you use a banking card like Visa/Mastercard - should be no problem, since it's not a part of LRS. Anyway, there are traders who specify S0001 as the purpose of the transfer and it works well (Indian investment abroad -in equity capital...

Trading USD/INR is not real Forex trading since 1) Rupee is a highly regulated currency 2) There is no space for analysis 3) Volumes are low 4) Volatility is low. Trading rupee is only profitable to insiders from RBI who know in advance when some change is going to happen. That's why USD/INR...

Sure you can. The only reasonable way to transfer 30,000 is a bank wire transfer. You can call Reliance Money and ask if they still provide Forex trading services through their UK partner (they did in the past) - maybe it will be easier this way.

I was googling for information regarding Reliance cooperation with CMC Markets and found this in the news: http://economictimes.indiatimes.com/articleshow/1439116.cms http://www.financialexpress.com/news/reliance-money-platform-to-help-offshore-trading/198057/ It seems to be true -...

Oh, you're true - I opened this page but didn't scroll down! Yep, they got offices and phone numbers - sorry. I look forward to their opening in India... as well as Alpari's. Still wonder how are they going to manage deposits/withdrawals...

I'm going through website of MoneyRain and cannot find any single address of any single office in _any_ country! I personally would never trust my funds to a company that doesn't even publish their addresses, looks like scam! Clients must always get: 1) legal name of the company 2)...

I'm going through RBI's notifications and circulars, and so far I see that: 1) Use of Debit/Credit cards (Visa/Mastercard for example) is not a part of Liberalised Scheme, and hence is not subject to this limitation. As far as I see, it's absolutely legal to use credit cards for Forex...

Hey! Where did you get information about Alpari?? Don't see anything on their website.

For some reason, electronic currency exchange is very, very expensive in India and there are not many exchange centers :( So probably debit/credit cards, wire transfers and PayPal (basically the same as using debit/credit card but with extra fee) are the only good solutions here. In my...

An excerpt from the same RBI page: == No ratings or guidelines have been prescribed under the Liberalised Remittance Scheme of USD 200,000 on the quality of the investment an individual can make. However, the individual investor is expected to exercise due diligence while taking a decision...

They offer only one pair - USD/INR, which is non market driven and low volatile. Also, conditions are not that nice. But yes - it's true, after introduction of USD/INR futures at NSE last year, all NSE participants may offer it. At the moment, it's unknown when RBI decides to introduce any...

I know - it's cool to say "LOL", but electronic currencies are 1) cheaper to use and 2) instant. With a bank transfer, a client will have to pay a relatively high transaction fee, plus it will take several days. With electronic money it's normally absolutely free and instant. Credit cards are...