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Forex Trading Legal in India

As you already know, Forex trade is illegal to trade from India with non-INR pairs. It is illegal to

trade margin with entities that are not registered with SEBI. However, thousands, in addition to

Lakh traders do forex trading legal in India. This is because it is not allowed to send money

outside of India for Forex trading, but nobody can stop you if you are not sending money

out of India from your bank account via bank transfer.

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Forex trading is obviously legal in India if it is done through a registered Indian Forex broker.

The central authorities that control forex trading in India are the Reserve Bank of India (RBI) and

the Securities Exchange Board of India (SEBI). In India, currency pairs such as US dollars and INR,

euros, and INR, British pounds and INR, JPY, and INR, etc. All legal.

Forex trading in India is legal if the underlying currency is INR. Forex trading between two foreign

currencies is considered illegal in India and Indian citizens are not allowed to trade foreign currencies

directly and indirectly.

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To start Forex trading legal in India, you need to open a Forex trading account with a SEBI registered

Forex broker in India. Once the account is set up, you can start trading currencies in the Forex market.

The Forex market is the largest decentralized global market where all currencies in the world are traded.

When coming to India, many people have the doubt if it is legal or not. So let’s talk about the legality

of Forex trading in India.

 

Is Forex trading legal in India and how to trade forex in India legally?

Forex trading is, of course, legal in India if it is done through a registered Indian Forex broker.

The central authorities that regulate forex trading in India are the Reserve Bank of India (RBI) and

Securities Exchange Board of India (SEBI). In India, currency pairs like US Dollar and INR, Euro and INR,

Great Britain Pound and INR, JPY and INR, etc. are all legal. Forex trading in India is legal if the base

currency is INR. A Forex trade that happens between two foreign currencies is considered illegal in India

and Indian citizens are not allowed to trade foreign currencies overseas both directly and indirectly.

In order to start Forex trading in India, an individual has to open a Forex trading account with a SEBI

registered Forex broker in India. Once the account is set up he\she can start trading currencies

in the Forex market.

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