New Forex Trader

R

Raghav Krishna

New Member
#1
#1
Hello Friends,

This is Raghav seeking your valuable advice regarding Forex trading.

I am planning to open a Forex account with a foreign broker as they are providing me with the best software available, High Leverage and Low Margin.

But few doubts are still lingering in my mind regarding Forex Trading.

I would be grateful if anyone can answer my queries.

1) I am interested in trading different currency pairs like EUR/USD as they are more volatile and have high liquidity.
Are there any noted brokers in India (like angel broking, sharekhan...) who can provide me these foreign currency pairs?

2) How should I pay my taxes that I earn on Forex Trading (if I go with the foreign broker) to the Indian government (Remember these are the earning from abroad).


Thanks in advance.

Bye

Raghav
 
D

duster

Member
#2
#2
Raghav Krishna said:
Hello Friends,

This is Raghav seeking your valuable advice regarding Forex trading.

I am planning to open a Forex account with a foreign broker as they are providing me with the best software available, High Leverage and Low Margin.

But few doubts are still lingering in my mind regarding Forex Trading.

I would be grateful if anyone can answer my queries.

1) I am interested in trading different currency pairs like EUR/USD as they are more volatile and have high liquidity.
Are there any noted brokers in India (like angel broking, sharekhan...) who can provide me these foreign currency pairs?

2) How should I pay my taxes that I earn on Forex Trading (if I go with the foreign broker) to the Indian government (Remember these are the earning from abroad).


Thanks in advance.

Bye

Raghav
Click to expand...
1) I'm sorry to say that Indian brokers like Angel Broking or ShareKhan cannot provide any pairs other than USD/INR due to RBI limitations. So, in order to get EUR/USD, for example, you need to open an account with a broker abroad. In the future this may change, but this is the current situation....

2) Very easily - just like any other income! Once a year you will a form, and you claim it as profits from investments abroad.
 
A

ananddennis

New Member
#4
#4
Raghav,

Its totally legally to trade different currency pair. Its like going to an exchange company to exchange your INR to EUR, or your EUR to USD etc..
Instead of going physically, you are placing your orders online through a platform what brokers provide, which are foreign companies.

Whether you buy physical or place online orders through leverage or without it, if you get profit, you book it. Which in terms, both of it are legal. Or if it wasnt legal, exchange companies wouldnt exist in India.

Regarding your other question, you can always ask the broker, like i do through STIFX, to give me every month or so, on there letter head or such, regarding profits i have made, so i can claim as profits from abroad.

Hope i may have come helpful.
 
R

rajarameswar

New Member
#7
#7
Hiiiiiiiiiiiiii all just couple of minutes before i registered in the site, and found it very interesting a platform wherein i could gain a lot. Trust me i have been really impressed.
Cud any one please help me out how to get the free demo version of the iforex software????????

Please help me out asap.

Regards

rajarameswar
 
R

RAMDAS

Active Member
#10
#10
rajarameswar said:
HELLO

THIS RAJARAMESWAR, SIR, CUD U PLEASE HELP ME OUT IN GETTING A FREE DEMO OF IFOREX. IT WD BE A GRT HELP. PLEASE HELP ME OUT.

REGARDS

RAJARAMESWAR:confused:
Click to expand...
Hello, you can get free 50$ Real account from IBFX.
just visit there site.
download there Metatrader platfrom, practice demo trades.
But first hurry up and get 50$ free Real account, such offer does not last long.
 
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