Can EUR/USD be traded in India

[rishikesh_m]

The same reason to trade NF, BNF, USDINR Pair, liquidity. Would a small broker not go broke if the markets opened on Monday at 5000 levels?

Sorry but I disagree with this one point.

If this happened in India, the client would have to pay not the broker. They would send their debt recovery agents after you to collect the money.

I have heard similar stories happened during the Jan 2008 crash in India.

 

[NJ23]

Sorry but I disagree with this one point.

If this happened in India, the client would have to pay not the broker. They would send their debt recovery agents after you to collect the money.

I have heard similar stories happened during the Jan 2008 crash in India.

Recovery agents of whom? The broker. So, if a client is bankrupt, the broker can't do anything but bear the loss of the client on their own books. What do you think happens now? Alpari and others wouldn't try to recover their debit balances in clients' accounts? Of course the will. Brokers are required to keep a deposit with the NSCCL for this same reason. Risk Management.

 

[market oracle]

Moreover these fx brokers are CFDs.. Which means they're an off market bet on the real currency pair. It's equivalent to a casino with minimum of 1:100 leverage.. Some give up to 1:500.

This is not legitimate because you're buying and selling away at random prices which are not real bid/ask.. Since by entering such trades you don't really buy the currency futures, it is like gambling against the service provider himself. The broker is the counterparty. You lose, he wins. They are not brokers. Because they take ur principal.. They AFR placing wagers against the clients.

 

[MontiDiaz]

Hi everyone, I am new to this forum and I would like to gain some knowledge on some aspects of forex trading in India.

I know for a fact that in India only 4 currency pairs are allowed for trading which include INR.

My question to everyone is, can EUR/USD be traded by any means in India ?

I had an account with Alpari when I was abroad and now when I am here I was told that EUR/USD can't be traded here in India.

On contacting, Alpari, they stated that it is possible to trade EUR/USD as many in India do it through Alpari sitting in India. On clarifying that Indian banks don't allow to deposit money via credit/debit cards into forex brokerage accounts, I was told that I can use NETELLER.
NETELLER is a site where you can put money and alpari will withdraw it from that site into my trading live account.
But my question to all knowledgeable people here is "Would I be able to withdraw money from Neteller to my bank account in India?".
Here I am not questioning Neteller's credibility. I am wanting to know if RBI allows this to happen. If yes, would I be questioned by my bank where this money is coming from? If yes, what would be an appropriate acceptable answer to the bank ?

Phewwwwwww ...I know lot of questions, but please help...Appreciate it !..Thanks

I think that there are many brokers that will take your business.

 

[copypasteaee]

Directly trading the pair is not possible however indirectly it can be traded through nse.

 

[AncientLion]

Sell INR/EUR meams sell INR buy EUR
Buy INR/USD means buy INR sell USD

wow you just did buy EUR/USD !!!!

 

[copypasteaee]

Sell INR/EUR meams sell INR buy EUR
Buy INR/USD means buy INR sell USD

wow you just did buy EUR/USD !!!!

hmmm smart boy, you got what i mean. But pairs in NSE are otherwise.

 

[trader_ks]

Then you can do opposite, ie sell usd/iur and buy eur/inr..i think that will result in eur/usd

 

[Saiyyed Rafik]

You can trade pairs only which are with INR, For Example Eur/INR, GBP/INR, USD/INR and so on.

 

[wayway]

You can trade pairs only which are with INR, For Example Eur/INR, GBP/INR, USD/INR and so on.

Do this actually happen in india??
So, i think its good for india currenct against any major currency.
I hope this will happen to in indonesia.