I will HELP You with Anything you ASK in Forex

[pra]

I read somewhere that inr/usd trading not allowed in india is it right
please suggest me which platform is better for it

It was restricted few months back for retail trader/ investor in india but now all restriction removed from indian financial mkt. So, you can play it with any indian broker who is your favourite.


Thanks

 

[smartboy1jan1982]

I read somewhere that inr/usd trading not allowed in india is it right
please suggest me which platform is better for it

Your question is not entirely clear. Do you mean Usd-Inr trading in forex market or the currency derivatives market. There is difference between spot forex market and exchange traded currency derivatives. It is perfectly legal to trade currency derivatives in India on NSE and MCX-SX for Indian citizens as Individuals. However, the same is not true for spot forex trading in Inr-Usd or any other currency for Indian citizens as Individuals. In order to bypass this rule one can open an account with overseas retail forex brokers like Alpari or Interbankfx etc but you are legally NOT supposed to use any leverage in those overseas retail forex accounts. So considering the situation I have to come to a conclusion that exchange traded currency derivatives like Usd-Inr futures on Nse and Mcx-sx are much better to trade for a living rather than overseas spot forex market.

 

[preetksgill]

USDINR has the smallest movement in terms of forex pairs because it has not been opened out completely, that is not available on all broker platforms in the forex community

Some people used to just go down to the western union office and buy or sell currencies from there, dun know how they did it

But given the fact that current rate is 47 n is expected to drop to 42 or lower before november and then shoot sharply in november above 49 or so, this can give a wild ride

I am expecting a thermo nuclear war to begin on November 8th, as per the visions I get during meditation.

 

[rajsingh]

Are there any hedging mechanisms available in forex ???

 

[preetksgill]

Yes, there are, but they are not advisable as getting into a hedge is easy, but getting out of it is really tough

In NFA regulated brokers hedging is done by trading mirror image pairs

like hedge of eurusd in usdchf, and so on

 

[rajsingh]

That's what I thought..Thanks a lot.

 

[Edward]

I will help you with anything you ask in forex except on legality and tax issues which is well discussed elsewhere

I give trade ideas on my Blog as well.

I am new to forex, just joined today !!! but I will try to answer all questions., whenever I get time.

:lol:

Now that's the epitome of being modest and humble...

God bless.

 

[maidass]

hi all. does any one have idea about Rochester investment consulting pvt ltd (india based forex broker) and their (supposed to be ) counterpart master field financial consultants ltd, supposed to be virgin island based multi billion $ company.
Thanks in advance.

 

[preetksgill]

hi all. does any one have idea about Rochester investment consulting pvt ltd (india based forex broker) and their (supposed to be ) counterpart master field financial consultants ltd, supposed to be virgin island based multi billion $ company.
Thanks in advance.

Just one comment

A genuine company will never register on an island.

 

[scalperfx]

>>Just one comment

A genuine company will never register on an island. <<

I have to disagree on this generalization. A legitimately structured company stands to save millions if not billions of dollars by incorporating in income-tax or direct taxation free places.
An example being Cayman Island- which has Coca Cola, Intel, Oracle, Seagate etc registered there just for this puprose.

>>hi all. does any one have idea about Rochester investment consulting pvt ltd (india based forex broker) and their (supposed to be ) counterpart master field financial consultants ltd, supposed to be virgin island based multi billion $ company.
Thanks in advance. <<

But, I would be very very careful in trading using my money (or infinitely worse other ppl's money) with a broker that i have never heard of before.

Regards.
Scalper