Is Forex Trading In India Breaking The Law
The nature of forex trading is such that it can be perceived as gambling and made illegal in some countries. We are fortunate that this is not the case in India and many people are quietly making 1000’s on a daily basis.
Although forex trading itself is not illegal in India it can be difficult to profit from the limited currency pairs that you are allowed to trade. The Rupee currency of India is highly protected by the Royal Bank of India and exchanging it for other currencies is highly restricted. They have been more lenient with these laws recently as to aid the economy by introducing the financial markets, but the rupee is not a volatile currency so it can be hard to profit.
The forex market does not change wherever you are in the world, it still has trillions of dollars traded on it every day and it is still possible to trade 24 hours a day 5 days a week. There is no reason why Indian residence cannot take a piece of this action and in fact many of them are. Many Indians are joining the global financial market every day.
The spread betting companies in India might well be limited to the trading pairs that they can offer but it does not mean that people in India cannot go elsewhere to trade forex. Using a managed forex account is becoming increasingly popular as a method for residence of India to benefit from the complete forex market.
There is nothing illegal about using a forex managed account and it is the simple task of opening an account and giving it to a professional to trade on for you. The benefits include staying within the law and being able to have a much more profitable account in your portfolio.
You do not need to get involved in the task of trading yourself you can leave that task to the professionals. Simply sign the necessary paper work to give the account manager the power to use your account and watch the profits roll in.
It is hard not to see the benefits of using a forex managed account; for one the combined experience of the traders means you are getting profitable trades and not just lucky wins. It is important to remember that although the forex market can be very lucrative it can have a steep learning curve for the inexperienced trader.
There is no need to worry about money in your trading account as it can only be withdrawn to the card from which it was first deposited. All you need to do is sit back and allow the account manager to do his job and of course withdraw the money now and again.
India will definitely have access to the full forex market in the future as it is impossible for them to stay out of this huge earning potential. Until that day comes about using a managed account is the best way to see success in the market place.
Take advantage of the professionalism that is on offer with a managed account and see your investments grow for very little effort.