Remittance of profits from trading

[buccas13]

You are one frustrated man, whose mistake I just pointed out and is talking about 50 being irrelevant. A business profitability increases by tightening every screw and not being a jerk, oh my business makes so much money Why Should I bother about this expense or that expense.

I wish I had a button to ban a user commenting on this thread.

 

[sumeetsj]

thank you sir,
Good night

 

[fxmaniac]

You can open a moneybooker a/c,transfer fund from trading a/c to moneybooker a/c and then withdraw from Mb to your bank.A single paisa is not charged.Last month I withdrew 150 $ and got 6700 rs in bank.

 

[buccas13]

Thanks mate, I'll try on that one. Can you give an idea how long i takes for amout to get transferred from moneybooker a/c to bank a/c?

 

[fxmaniac]

2 to 3 days max.I gave the request on a monday.Same day it came to my Mb a/c and on wednesday morning ,got deposited in my hdfc a/c...I think this it is the best option as far as money withdrawl is concerned (except alpari trading as they allow only wiretransfer.rest all the brokers accept MB).Earlier I also got burned 50$ from my a/c while withdrawing via Wire.I can understand the pain.
By the way do you know anything about an Indian broker called Fxcentral.They have offices in Mumbai n bangalore and claim to be RBI approved in their ads.The advantage is, you dont have to wiretransfer for uploading/withdrawing funds,instead local remittance/withdrawl option in rupee is there.you can go to axis bank and deposit in their a/c...have any idea on this.

 

[buccas13]

I've not heard of them yet. It is a new name to me. I know of interactive brokers
India pvt ltd. They give you access to 80 markets globally, it includes forex trading also. IB is a big player and famous. On Chicago Mercantile Exchange, they have listed IB for Indian traders.

IB asks you to deposit funds in INR.

interactivebrokers.co.in

I've still to open an account with and I'm not affiliated to them in anyway.

 

[4xpipcounter]

C'mon, Buccas. He was trying to be helpful. I don't think Sumeetsj was being a jerk by wanting to be helpful. Encourage free discourse. What he was saying was relevant. Again, I do not believe he had an intent on being a jerk.
Now, you wish you had a button to ban me. Right?

You are one frustrated man, whose mistake I just pointed out and is talking about 50 being irrelevant. A business profitability increases by tightening every screw and not being a jerk, oh my business makes so much money Why Should I bother about this expense or that expense.

I wish I had a button to ban a user commenting on this thread.

 

[buccas13]

Maybe I'm tunnel visioned and I could not see how he was trying to be helpful Please enlighten me on this.

When he has no idea about how to circumvent the correspondent bank charges and he is coming up replies that why I do not trade fx I'm waiting for SEBI clarification. He could have kept his case to himself.

4xpipcounter, I'm still to find you giving irrelevant answers and bragging your case 'Why you dont do a certain thing'. Do it and I'll add you in that list too.

Correct if I'm wrong, these forums are for discussion and not bragging personal cases.

 

[preetksgill]

There are already two thread discussing about the legality of forex trading. Anyone who wants to say the same words, I've read those threads. Please do not repeat the same here.

I give instruction to my broker every month for remitting a part of my profit to my Indian bank account. My bank account is with HDFC bank. They use an intermediary bank for Inward remittance. No the problem is that the intermediary bank charges 50 for its services.

I want to know if there is any bank in India which doesn't uses intermediary bank of remittances.

Thanks in advance

withdraw with bank wire, no questions asked.

 

[preetksgill]

one of the experts in this matter is Mr. Preetsgill.

Hope he see this, else you can leave him a PM.

trade with fxcentral, its a completely transparent net banking operation, no extra costs in deposit or withdrawal.

Zero cost, plus there is no minimum on withdrawal.

I wish they have a rupee account as well, since rupee to dollar conversion depends on market value.