i have funded 500$ , what amount should i aim for everyday?

[forexworld]

them the main collage in park circus is lady bourbon collage it is only for girls! And There are not only 1 ice cream shops there are many here near by and as for the coffee shop we have barista, quality walls,I never go there 1 hot choclate coffee for 120 rs hahaha !!!!!restaurants such as ocean blue, peter cat, tung fung, mcdonalds, kfc , moon roug[/I]e, Yo china, mocha , 360*, HTC, XTC , Jimmy's kitchen, Arsalan here in park street and many more Near by there are 3 very big luxury complex malls forum , courtyard and mukti world, and also also south city mall and money square! which is very big though!and the park auckland court is very small sir, the best park is victorial memorial square

Siaf you forgot to mention Park hotel which is the main luxury restaurant/complex combo and Taj Bengal !

 

[fxgood]

which broker you peoples are using to trade forex and what are funding options available with them.

 

[Piratetrader]

which broker you peoples are using to trade forex and what are funding options available with them.

Hello fxgood, I use instaforex as they give 30% on each deposit )))))))

 

[adityasaraf007]

Hi Saif.... I recently came to know that the Foreign Brokers act as Market Makers for Forex Pairs....... If this is the case, it completely changes my outlook towards legality of Forex Trading for Indians......

Do let me know if the contracts entered in the Forex Pairs are Futures/Options Contract or not..... I mean do the contracts have an Expiry/Maturity Date?


PS: I hope you don't mind me posting on your thread..... as I didn't want to clutter anywhere else

 

[Piratetrader]

Hi Saif.... I recently came to know that the Foreign Brokers act as Market Makers for Forex Pairs....... If this is the case, it completely changes my outlook towards legality of Forex Trading for Indians......

Do let me know if the contracts entered in the Forex Pairs are Futures/Options Contract or not..... I mean do the contracts have an Expiry/Maturity Date?


PS: I hope you don't mind me posting on your thread..... as I didn't want to clutter anywhere else

Hey adi bhai Not sure what market makers exactly mean but I think they place their trade opposite to you and buy and sell from their own account to make profit I guess!!

No bhai there are no contracts for forex pairs they do not have Maturity or expiry date but today each and every forex broker has a multi platform they have fx pairs, futures,index,options and commodity ! they have contracts in these stuff but not fx pair but they do act as a market maker in these stuff

Legality remains the same bhai as it is clearly mentioned in fema the word "remmitance" from India Inr converted to USD for the purpose of trading ! if you did not remit funds from here! but some in in aborad family, friend remitted for you then you cannot get into trouble because you did not break the law !

bhai, you gave me a chuckle post as much as you want why would I mind? every thread here does not belong to any individual but to all members !

 

[adityasaraf007]

Hey adi bhai Not sure what market makers exactly mean but I think they place their trade opposite to you and buy and sell from their own account to make profit I guess!!

No bhai there are no contracts for forex pairs they do not have Maturity or expiry date but today each and every forex broker has a multi platform they have fx pairs, futures,index,options and commodity ! they have contracts in these stuff but not fx pair but they do act as a market maker in these stuff

Legality remains the same bhai as it is clearly mentioned in fema the word "remmitance" from India Inr converted to USD for the purpose of trading ! if you did not remit funds from here! but some in in aborad family, friend remitted for you then you cannot get into trouble because you did not break the law !

bhai, you gave me a chuckle post as much as you want why would I mind? every thread here does not belong to any individual but to all members !

Kya yaar..... pehle batana chahiye na humko......

I have earlier mentioned the importance of the word "Derivatives" several times..... Futures & Options are the Derivative Contracts and they have some maturity date.....

But as you said, these Forex Pairs do not have any maturity >>> this implies you are trading Spot..... ie; there would be no Settlement on a Specific future date.......

I don't think FEMA mentions anything about trading SPOT in Currencies...... But it specifically mentions that we are allowed to trade in DERIVATIVES of Currencies anywhere in the World...... Like the Derivatives of 4 Currency Pairs available on NSE for trading......

Have to go through the Act again about Spot Trading in Currencies....

And.... do you remember... that Liberalized Remittance Scheme prohibits remitting money for trading in Currencies...... and I had mentioned the other day, that this implies trading in Spot...... So, if you want to trade in Derivatives, you can use this remittance scheme...... But as is the present situation..... you cannot use this for your Forex trading.......

And please don't assume anything..... you have said that if someone from abroad funds your account, there is no contravention of Law..... I don't think so....... FEMA mentions the restrictions with respect to everything..... whether you pay the money or receive the money...... I have to go in details of the Act for saying anything concrete about it..... But please If you can go through the Act once, it would be beneficial for you.......


Would come up once again.... If I find something about it...... And in all the discussions we had earlier, I had assumed that you are trading in Derivatives and not Spot....... So, make the necessary adjustments to all what I had said earlier......

 

[Piratetrader]

Kya yaar..... pehle batana chahiye na humko......

I have earlier mentioned the importance of the word "Derivatives" several times..... Futures & Options are the Derivative Contracts and they have some maturity date.....

But as you said, these Forex Pairs do not have any maturity >>> this implies you are trading Spot..... ie; there would be no Settlement on a Specific future date.......

I don't think FEMA mentions anything about trading SPOT in Currencies...... But it specifically mentions that we are allowed to trade in DERIVATIVES of Currencies anywhere in the World...... Like the Derivatives of 4 Currency Pairs available on NSE for trading......

Have to go through the Act again about Spot Trading in Currencies....

And.... do you remember... that Liberalized Remittance Scheme prohibits remitting money for trading in Currencies...... and I had mentioned the other day, that this implies trading in Spot...... So, if you want to trade in Derivatives, you can use this remittance scheme...... But as is the present situation..... you cannot use this for your Forex trading.......

And please don't assume anything..... you have said that if someone from abroad funds your account, there is no contravention of Law..... I don't think so....... FEMA mentions the restrictions with respect to everything..... whether you pay the money or receive the money...... I have to go in details of the Act for saying anything concrete about it..... But please If you can go through the Act once, it would be beneficial for you.......


Would come up once again.... If I find something about it...... And in all the discussions we had earlier, I had assumed that you are trading in Derivatives and not Spot....... So, make the necessary adjustments to all what I had said earlier......

BHAI derivatives me to contract hota hai ??? ham toh spot karta hai aap bol rahe ho ki spot mentioned nahi hai to phr kya trade karte sakte hain is advantage ke basis par?

Haan bhai I trade in spot forex I though you know because of my charts and posts on "some of my forecast" and also I trade s&p 500 on hese platofmr which are futur contracts ! I do no trading these are legal or not! Bhai I am also aware of that we are only allowed to trade in currency recognised by I think SEBA?they are INR Against the 4 major pairs ! and I only assumed because It was written remittance from India on the liberized scheme(NO.4)

I know its overall illegal but I am hoping that some day they would come up with something or I open a swiss bank account hahaha(just a joke)

BTW can an individual take permission to trade on request that if the money is a risk free money not INR ?

 

[adityasaraf007]

In a nut shell.... Trading in Forex Derivatives is perfectly fine and you can you LRS for funding your account..... However, you do need to submit a declaration to RBI......


I am not saying anything about the legality of Trading in Forex Spot..... But what can be said for sure is that you cannot use LRS for funding this account......

Hope this helps

PS: Yaar...... jab itna confusion hai.... Forex mein trade hi kyun karta hai..... Forex hi trade karna hai toh NSE mein USDINR mein accha volume bhi hai...... Aur Equities/Commodities hai na trade karne ko.......

 

[adityasaraf007]

BHAI derivatives me to contract hota hai ??? ham toh spot karta hai aap bol rahe ho ki spot mentioned nahi hai to phr kya trade karte sakte hain is advantage ke basis par?


Yaar.... theek se yaad nahi hai abhi...... Ek baar phir Act read karna padega..... Phir tereko confirm karta hai, whether trading in Spot is prohibited or not.....

Haan bhai I trade in spot forex I though you know because of my charts and posts on "some of my forecast" and also I trade s&p 500 on hese platofmr which are futur contracts ! I do no trading these are legal or not!

Foreign Securities mein toh trade kar sakte hai.... But whether Derivatives fall in the Definition of Securities or not is the question..... So, no comments from my side....

Bhai I am also aware of that we are only allowed to trade in currency recognised by I think SEBA?they are INR Against the 4 major pairs ! and I only assumed because It was written remittance from India on the liberized scheme(NO.4)

Act doesn't mention this.... If there is some Notification by RBI or SEBI, then I am unaware of it.....

I know its overall illegal but I am hoping that some day they would come up with something or I open a swiss bank account hahaha(just a joke)

BTW can an individual take permission to trade on request that if the money is a risk free money not INR ?

Yaar.... Risk free money ka baat hi nahi hai.... If you have earned it, it's your money and you should bring this to India and convert it to Rupee..... However, you can keep a certain amount of Foreign Exchange in your account without converting to Rupee..... I don't know the limit

Answers within quote

 

[Piratetrader]

In a nut shell.... Trading in Forex Derivatives is perfectly fine and you can you LRS for funding your account..... However, you do need to submit a declaration to RBI......


I am not saying anything about the legality of Trading in Forex Spot..... But what can be said for sure is that you cannot use LRS for funding this account......

Hope this helps

PS: Yaar...... jab itna confusion hai.... Forex mein trade hi kyun karta hai..... Forex hi trade karna hai toh NSE mein USDINR mein accha volume bhi hai...... Aur Equities/Commodities hai na trade karne ko.......

Bhai spot agar mentioned nahi hai toh without funding from India trade kar hi sakte hain , kyunki aap spot legality ke bare mai nahi bol pa rahe ho aur na LRS ya fema mai iske bade mai kuch mentioned hai?! jaise ham online fee lancing work kiya tha jisse mereko paisa mila tha through alertpay dollars mai vahi ham fund kiya tha ! paisa abroad se aaya tha alertpay account mai usd mai vahi ham fund kiya tha!

bhai USD/INR aur ye sab 4 pairs bekar hai ! aur mereko ye bhi nahi pata ki NSE mai account kaise open hoyega! aur NSE mai mt4 platfrom nahi hai aur meta T.A setup dusra hai ( ichimoku) jo NSE mai nahi hai !