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Best Forex Broker in India

A forex broker is a professional term synonymous with Forex Trader. Many forex brokers represent

only a small part of the overall size of the foreign exchange market. Forex brokers, widely distributed

around the world, can find such companies that are scams and are trying to hide their customers.

Why Do You Need a Forex Broker to Trade Forex? | Iran Front Page

Traders are generally known to find the largest forex brokers to work with. But every region in the world

has the best brokers. Therefore, forex traders will seek for the best forex brokers in India.  There is

no forex regulation, the RBI. The Reserve Bank of India regulates all forex trading activities in India.

But no broker controlled by the RBI cannot authorize Indian traders to trade 4 currency pairs:

INR / USD, INR / EUR, INR / GBP and INR / JPY. No foreign currency can be the principal currency.

Therefore, Indian traders don’t really want to opt for RBI forex brokers in India.

TOP FOREX BROKERS RANKING 2018 - Stephenking' Blog - Blog Trading ...

The most commonly used strategy for Forex trading is the price action strategy. It is entirely

dependent on increases or decreases in price action in currency trading and is generally useful in

all types of market conditions. You can legally trade forex on Indian stock exchanges such as BSE,

NSE, MCX-SX. Before choosing a good broker to start a trade check for forum reviews for the

best forex brokers in India.

 

For India, trading on other pairs rather than defined by RBI is illegal under the FEMA Act. Trading forex

in India through an online broker is a non-bailable offense in India. With many online brokers who

misguide retail investors claiming forex trading performed legally through them.

 

Moreover, RBI claims the restrictions are there to prevent retail investors/traders from losing big time.

However, many India citizens believe that the main reason is to stop currency outflow. I meanwhile believe

that RBI will ease in their limits in the coming period as India is going through the Financial change.

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