Currency trading

Currency trading also know as Forex trading is legal in India for the following currency pairs. USD:INR, GBP:INR, EUR:INR and YEN:INR. These pairs are provided by major stock exchange in India including NSE and MCX-SX. Lately the liquidity for these pairs have increased in India. But globally the currency trading takes place in USD:EUR and other major world currencies.(INR IS NOT ONE OF THEM) .There are some global currency trading companies which are providing services under the radar to Indian traders to trade in world major currencies but as per the RBI policies, an individual cannot trade in global currency pair from India.

For trading in Indian currency pairs, you can open a currency trading account with most of the major brokers(ICICI direct, Angel Broking, HDFC or RKSV). With more and more brokers providing these services, the rates has reduced drastically. To just give you an example of USD:INR currency pair, the lot size is $1000 dollars, so if you are buying one lot you are trading for about Rs 60,000 and brokerage could be anywhere from Rs 15 to Rs 100 depending on the brokers. Currency options are also available if you want to trade but the liquidity for currency options is thin and you can get struck with some options and they could be difficult to sell. All the major brokers are providing currency trading associated with Indian currency. You can find details about major currency broker in India here.

Angel Broking is India’s leading broking firm which operates revolutionary trading platforms and expertise to a diversified client base on all segments. In the forexsegment, the company offers top quality research reports and technical calls that arms clients on a daily basis with key information that can shape the markets. The research report gives investors a fundamental view along with technical edge. There are event specific write-up like the recent US Presidential Elections, Brexit and outcome of Monetary Policies of major central banks of the world. Benefit from Angel Broking’s robust and indept advisory and research reports on Forex Trading by opening an account now.

On the other hand, if you open currency trading account with some of the major global currency trading account, you will be able to trade in world’s major currencies. But transferring and pay in of the funds are not very simple with them. As these brokers are mostly based outside of Indian territories, they will take money from you through a paypal account or wire transfer to a foreign or Indian based account. Even when you have to withdrawn some money, there can be some issues. For a list of brokers proving trading in global currency, please visit here.

Research well before selecting the currency brokers.

Forex Broking in India is new and there is still a lot of doubt about its legality but lately some of the major forex brokers have started operating in India.The list given below is not in the ranked format but talks about the major Forex broker in Indian Market. But before starting to trade in Forex market in India, make sure to understand the intricacies of it. Please read the basic of Forex trading and Type of forex broker in India.

This is one of the most asked question on my blog related to Forex trading. And the answer for this question is YES and NO. You can trade legally in India for currency pairs provided by MCX exchange. Most of the major stock brokers are providing currency trading in INR pairs through MCX exchange and the pair they provide are USD INR, EUR INR and GBP INR. Trading in these contracts are legal in India. The market for these contracts have also become very liquid lately and it would be a good starting point for someone who want to test water of currency trading. [Read more…] about Is forex trading legal in india ?

Forex trading has become very widespread of late. Along with its popularity, there has been an increase in the amount of scams and frauds in the Forex markets.

Relatively new on the financial scene, Forex is full of the unknown and Forex brokers can tell new traders everything they want to hear. This creates a situation where Forex brokers function under a cloud of suspicion and the Forex trader is placed in a vulnerable position.

Forex is not an easy concept to understand and Forex trading is more complicated than one thinks. It is easy to lose money within a very short time and in fact, only about 10 percent of traders come out ahead. [Read more…] about Don’t Get Caught in a Forex Trading Scam

What is currency trading?
Currency trading is the act of buying and selling international currencies for example USD-EUR or USD-YEN. Very often, banks and financial trading institutions engage in the act of currency trading. Individual investors can also engage in currency trading, attempting to benefit from variations in the exchange rate of the currencies. The currency trading market is bigger than stock and commodity combined and every day more than U.S. $3 trillion in currencies change hands in a highly professional interbank market, in which electronic trading platforms link currency traders from banks across the world directly. FX markets are effectively open 24 hours a day thanks to global cooperation among currency traders. At the end of each business day in Asia, traders pass their open currency positions on to their colleagues in Europe, who – at the end of their business day – pass their open positions on to American traders, who just begin their working day and pass positions on to Asia at the end of their business day. And there, the circle begins anew. Currency market is by far the most liquid market at least for the main currency pair.

Currency trading terminology [Read more…] about Currency trading basics in India