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[mailmeram]

Hi,

I am new to Traderji.
I have a couple of doubts regarding Forex.

i) We know that NRIs are allowed to trade forex. So if an NRI trades forex, how much money he can bring to India ? (Is there any limit?)
What about the income tax applicable to his gains?

Thanks.:thumb:

no tax for nri 's in india

 

[KumarShiva]

hi,

are your trading Forex Futures or options?

how liquid are options esp USD

thanks

 

[Tradr103]

Hi rocky!i have a/c in etoro.i have fund in it.will there be any problem if i transfer this fund in to my bank a/c as I have deposited via bank a/c.can you please help me out??
I am indian resident and have opened my a/c in jan 2012.

 

[indy]

hello,

I will start work for a foreign client who pays me a fixed amount every month. I can choose one time at the start of the contract to receive this fixed amount in either USD or CHF. The amount is to be fixed either in USD or in CHF (swiss franc). I have the choice.

Please suggest which one should I choose and why?

 

[indy]

Mr. JJShah


I will start consulting assignment for a foreign client who will pay me a fixed amount every month. I can choose one time at the start of the contract to receive this fixed amount in either USD or CHF. The amount is to be fixed either in USD or in CHF (swiss franc). I have the choice.

Please suggest which one should I choose and why?

 

[ashu1234]

You should choose USD over swiss frank, first for easy convertibility and second dollar is on rise against INR as well as CHF, so it makes sense to go for USD.

 

[ashu1234]

Plus if you see a downside risk in USDINR, that is appreciation in rupee, i.e you'll get fewer rupee per dollar than you have option of hedging your monthly payment on NSE by selling USDINR futures or taking position in option which won't be possible if you select CHF.

 

[sailaja]

Can buy Usd or jpy ?

 

[MAIL2STEVENIN]

Yes retail forex comes under speculative margin based one, so its not legal for Indian resident to trade forex or futures with a OTC or futures broker abroad or here.
(
But Reliance Money in one of their FAQs says:

Can an Indian National invest/trade in the Forex Market?

Yes. After RBI�s circular dated November 04, 2004 on �Liberalized Remittance Scheme of USD 25,000� Indian Individuals may freely remit up to $25,000 per calendar year for any permissible current or capital account transaction or a combination of both.

This opens up a Window for Indian clients to remit funds abroad to do Forex trading.
( the indian gov is delibrately vague in their policies..)
Thank - you

Hi I am using FXCM as broker and let me tell you i manage to tranfer my money in my account via HDFC Bank.I have been told by my frinds and other people including the concerned in reliance money HDFC Bank asks you the least questions and conducts hasslefre tranfers.I have not come across any problems as of now.

hi,
i want to trade fx and i hold hdfc credit card. will it be alright to remitt money through it and what would be the maximum or minimum amount to remitt. is it possible to transfer money through hdfc credit card without risk?

 

[MAIL2STEVENIN]

Re: i want to forex trading from india....

I think noone can find what we are doing ....So RBI cant take any actions for just trading in overseas..

Infact we are not trading...Its broker platform and the orders executed after the broker wall then to market...So techinically we are not the man who buy/sell currencies..

So they cant find or do anything...Try to depost and withdraw in low amount like 2k or 3k per deposit and withdrawal..so no one can find anything..I m doing it for years and i pay taxes...so no problem....


In usa, can't trade after 1:10 leverage....

dear Blood,
i would like to know since when r u doing fx trading.hw do u manage deposit n withdrawal. please explain. iam new to fx trade. ur advice will be very helpful.
thanku.