This is just a Thought.
The RBI guidelines says that one can't remit INR to trade the FX market so the issues is more for outward remittance. If one has a relative, cousin, friend or any other family member over seas, one can ask them to fund one's Fx account and can pay him back when in India by way of either giving him direct cash or meet their travel expenses, shopping's etc. whichever way deemed OK for both the parties. Then when the money is made and profits are booked, one can ask the broker to remit the money to his account here in India. Here the RBI I guess has no issues with inward remittance of foreign currency into India. Also one thing to keep in mind is that the broker will remit the money to any account anywhere in the world as long as the account holders name with the broker and the Account holders name with the bank are one and the same.
But friend's this is just my perception. Kindly verify it with the relevant authorities i.e your bank and your fx broker.
BTW, I guess Silver is on the verge of return by the way it made that gap up before closing this friday. I may start profit booking of 20% of my stock.
Would I be wrong to call the FX markets a Calculated Casino Slot Machine? $ $ $
BINGO! :rofl:
Cheers!
The RBI guidelines says that one can't remit INR to trade the FX market so the issues is more for outward remittance. If one has a relative, cousin, friend or any other family member over seas, one can ask them to fund one's Fx account and can pay him back when in India by way of either giving him direct cash or meet their travel expenses, shopping's etc. whichever way deemed OK for both the parties. Then when the money is made and profits are booked, one can ask the broker to remit the money to his account here in India. Here the RBI I guess has no issues with inward remittance of foreign currency into India. Also one thing to keep in mind is that the broker will remit the money to any account anywhere in the world as long as the account holders name with the broker and the Account holders name with the bank are one and the same.
But friend's this is just my perception. Kindly verify it with the relevant authorities i.e your bank and your fx broker.
BTW, I guess Silver is on the verge of return by the way it made that gap up before closing this friday. I may start profit booking of 20% of my stock.
Would I be wrong to call the FX markets a Calculated Casino Slot Machine? $ $ $
BINGO! :rofl:
Cheers!
