Is forex trading illegal in india 2017 ? – forex trading in india : is forex trading illegal in india? this is one of the biggest question into indian investor mind. forex market is a decentralized market which cannot operate from one place like indian nse and bse market, its 24 hours a day from monday to friday.. Rbi clearly allows investment abroad and holding a international bank account for individual upto 50000.00 usd per annum ( including forex trading and stocks ) however , if you plan to send large fund via bank transfer , you will have provide a fill in declaration form to the bank ( for is available at rbi website) .. The reserve bank of india (rbi) has also been receiving applications under rti and queries/complaints regarding the guidelines of reserve bank on the spread that can be charged over the interbank forex rate by the ad banks and adherence of banks to the same..
Rbi guidelines forex facilities for residents (individuals) (as on oct 1, 2003) private travel foreign exchange up to us$ 10,000. is permissible in any calendar year for tourism or private travel to any country other than nepal and bhutan on the basis of self-certification.. While forex trading is considered illegal in most cases, forex trading in india is possible if the reserve bank of india (rbi) guidelines for the same are followed.. For india, trading on other pairs rather than defined by rbi is illegal under 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..
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