Any Forex traders from Mumbai

[d_hasta]

Hello traders!

well i am a mumbai based forex trader. there are many international cbrokerage firms who have local offices in mumbai. I was with alpari initially but very soon switched to xtb & with them for almost a year. guys ther are other brokerage firms like nordfx, 4xp, etc. you need to select the one which meets ur criterias. check out their demo accounts(to check their trading platforms) , customer support & also how is their review in international markets. the best way to get ur doubts cleared is to go to their office personally & check out how they work & how well they're regulated.
please get well versed with demo accounts before you trade with real money!

 

[sayantan2u9]

d hasta
were u trading the major pairs(EUR/USD,USD/CAD etc) or indian pairs?
how was your experience with the brokers? did u make profits
xtb is not ECN broker i think they have fixed spreads

 

[d_hasta]

Yes I am trading EUR/USD pairs & also the commodities, & yes i've made quite a good profit with xtb india. yes they're not ecn brokers, yet i'm quite fine with the amount of profits i've made with them. these guys are quite good and are very responsive enough when you've any doubts and all ,so it gives me a kind of assurance that helps me make trade better.

 

[sayantan2u9]

but ECN brokers are more reliable
anyways thanks for the info
may be i will keep them as an option in the future

 

[mithoon]

but ECN brokers are more reliable
anyways thanks for the info
may be i will keep them as an option in the future

http://www.fxcentral.net/fxcentral_technologies.aspx

 

[d_hasta]

hi everybody,
can anybody help in letting me know whether i can perform demo trading and frm where can i get the software. further pls let me know, how much brokers charge as commission on forex trades and how much leverage they give. say, if i place Rs 25000 deposit, how much forex exposure will i get? regards

well if you wish to trade in international markets, you usually trade in dollars with the brokerage firms. So Rs. 25000 = $500. you can choose a leverage of 100:1 or 200:1 (remember leverage is a 2way sword. so there are equal chances of making a huge profit or a huge loss, so choose wisely) so in simple terms you'll have quite a wide exposure to trade satisfactorily.
Obviously before investing real money, practice long with a demo account.
You can try the demo account with whom i am trading called XTB India. free demo accounts similar to live accounts except the money involved
www.xtb.in
also they have this xStation which is a web-based platform, so u wont hve to download the mt4 .

 

[easwaran]

well if you wish to trade in international markets, you usually trade in dollars with the brokerage firms. So Rs. 25000 = $500. you can choose a leverage of 100:1 or 200:1 (remember leverage is a 2way sword. so there are equal chances of making a huge profit or a huge loss, so choose wisely) so in simple terms you'll have quite a wide exposure to trade satisfactorily.
Obviously before investing real money, practice long with a demo account.
You can try the demo account with whom i am trading called XTB India. free demo accounts similar to live accounts except the money involved
www.xtb.in
also they have this xStation which is a web-based platform, so u wont hve to download the mt4 .

dear brother
greetings, it is nice of you to guide all of us, who are just waiting for the knowledge,pl accept my thanks
my question is "trading on forex in euro vs us $ or any currency is legal
and i just registered with xtb online for demo account
they give only 30 days demo account,
i think it is too short period to be with the market
kindly do clarify this point
it is regarding pips
i buy at 1.3700 and sell at 1.3801
hence 1.3801- 1.3700= 101 pips
is this correct
kindly do give information about trading and how to go about
in a nutshell to learn it deeper
thanks for your view
with gratitude
easwaran
bangalore

 

[d_hasta]

HI easwaran,

Yes the demo is only for 30 days but you can always register for another demo account & you can continue to do so until you are confident.
Yes it is correct. It means you have earned 101 pips.
As for any tips, I understand that you have signed up with XTBs demo accounts; you can also try attending their webinars which tend to be very useful for newbie traders. Also try clearing out your doubts with the experts of these webinars if you have any. Also there are many other trading materials available on the website like videos & literature you can make use of them. Initially try keeping your trades short & trade regularly with discipline. :thumb: Let me know if you need any more guidance. Would be glad to help you.

 

[MissForex]

I am also intrested in anyone who could guide me in forex trading in mumbai?I
also wanted to know from which platform can we trade in forex from india.Is there any guide available.I am specially intrested in anyone who would help me in forex trading from Mumbai.

Hey guys

looks like a lotta people lost out here..havent really gone thru the forums, but you guys can shoot out ur questions and il try my best to answer them..been trading for a couple of years now, so lemme know...cheers..

 

[mubzaveri]

Hey guys

looks like a lotta people lost out here..havent really gone thru the forums, but you guys can shoot out ur questions and il try my best to answer them..been trading for a couple of years now, so lemme know...cheers..

I m from mumbai,
i m a day trader in indian markets & interested in FOREX,
can u guide me about the charges (brokerage + other),
& can u recomment any broker(ecn will be preffered),
with which broker do u trade,
& how do u tranfer funds?
i know many of these r silly questions but, answer if u can..............
thank for the help.............:clap: