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We are a sub-broker in India that helps clients to
open currency futures trading account. Please be
advised that the above forex account opening links
are only for practicing purpose and this account is
opened with etoro. However the real account is
opened in NSE market (India) only if you email
into us.
Forex Accounts are also available in all majors states & cities of India
like: Andhra Pradesh - Hyderabad & Sikandrabad, Arunachal Pradesh -
Itangar, Assam - Dispur, Bihar - Patna, Chhattisgarh -Raipur, Goa -
Panaji, Gujarat - Gandhinagar & Surat, Haryana - Chandigarh &
Faridabad, Himachal Pradesh - Shimla, Jammu and Kashmir - Srinagar
and Jammu, Jharkhand - Ranchi, Karnataka - Bangalore & Mangalore,
Kerala - Thiruvananthapuram, Madhya Pradesh - Bhopal & Indore,
Maharashtra - Mumbai, Manipur - Imphal, Meghalaya - Shillong,
Mizoram - Aizawl, Nagaland - Kohima, Orissa - Bhubaneshwar, Punjab -
Chandigarh, Rajasthan - Jaipur, Sikkim - Gangtok, Tamil Nadu -
Chennai, Tripura - Agartala, Uttaranchal - Dehradun, Uttar Pradesh -
Lucknow, West Bengal - Kolkata. Also these forex courses are
available in these cities: Andaman and Nicobar Islands, Port Blair,
Chandigarh, Dadar and Nagar Haveli, Silvassa, Daman and Diu, Daman,
Delhi, LakshWadeep, Kavaratti, Pondicherry.
If you wish to open a
forex trading account in India or want to open a
commodity trading account in India, to trade gold,
silver, oil on MCX, NSE, etc then you have come to
right place. We make fx trading Indian commodities
trading easy online.
Currency Futures Trading
in
India
There has always been a big debate about whether
forex trading is legal or illegal in India. Well
it is very much legal to trade FX in India if you
are doing it through the NSE. Last October, India
kicked off currency derivatives or
Indian FX
Trading in other words, after decades of leaving
investors without the option of making money from
this lucrative opportunity, the Indian forex
market has been opened for traders & investors.
There were markets for non deliverable forward
trading offshore earlier with the RBI monitoring
domestic forward trading in currency. But currency
futures were banned until the RBI decided to toy
with the idea after Indian rupee futures began
trading on the Dubai Gold and Commodities Exchange
(DGCX). Now forex traders are easily trading US
dollar against the rupee online.
70,000
contracts on the first day
It led to the start of the first currency futures
trading at the National Stock Exchange (NSE) in
India launched by the Finance Minister at that
time, P Chidambaram. He spoke about developing the
bond and derivatives market with interest rate
futures in and secure credit derivatives market.
As it got launched on August 29, 2008, interest
was up and running with nearly 11 banks and 300
trading members registering and transacting nearly
70,000 contracts in a single day, with great
fluctuations in the Indian forex rates. East India
Securities conducted the first trade and among the
banks, HDFC was the first to transact business. Of
the total business done on that day, transactions
by banks accounted for 40% of the total trade. The
Reserve bank of India (RBI), happy with the
proceedings went on to allow
currency futures
trading at the selected exchanges across India.
Later, a plan was drawn up for setting up a
futures market for currency with the help of RBI
and the capital market monitoring organization,
Securities and Exchange Board of India (SEBI).
If you want to do futures trading in currency or
want to enter the
forex market of India
to trade various currency pairs online, then we can
provide you all the facilities ramped up to suit
your requirement. It was the NSE that first
allowed to trade in futures although applications
were sent in by the Bombay Stock Exchange (BSE) &
MCX or the Multi Commodity Exchange. Primarily,
the step to open up futures trading in currency
was taken to provide companies with increasing
flexibility and infuse more liquidity into the
market. You may do it individually, involve your
company or institution that could also be a bank
to buy or sell the currency of your choice pitting
one against the other at a predetermined date and
price.
Enriching India's financial sector
The opening up of the currency futures trading in
India was done primarily to facilitate opening up
and enriching the financial sector as well. It was
happening elsewhere like in Dubai and everything
was smooth, but the benefit wasn't being ploughed
back into India. With the deregulation and RBI
monitoring, India would be getting a slice of the
large volumes that are traded in the currency
markets. As financial markets in India get ramped
up, the move was greeted with cheers by the
operators and banks across India and abroad. But
there is a flip side to it. India failed to take
advantage of the growing clout of the Chinese Yuan
and has made derivatives trading other than the US
dollar difficult. It is a short sighted move as
the Chinese Yuan is gaining more prominence these
days. China has even suggested to the US to allow
the Yuan its rightful place among global
currencies as the greenback is losing its luster.
Yuan trading is being marketed aggressively by
China and it would be another missed opportunity
as Yuan-Rupee or the dollar-Yuan transactions are
still not on. It's a scenario of 'better late than
never' for currency futures trading in India
although options trading & trades above $5 million
are not allowed. As the Indian economy continues
to soar, experts feel the onset and rapid
globalization that is taking place would enable
the currency futures trading market in India to
kick off fast.
We accept:
Copyright @ 2011
NriInvestIndia.com (Brand of Ni2
Financial Consultancy Pvt Ltd)
All rights reserved
NriInvestIndia.com only offers its services and products where
it is allowed to do so, therefore, not all of our securities,
products or services may be available to you. Please review this
Legal Notice.
Use of
this website constitutes your acceptance, that you have gone through
the Disclaimer mentioned in it.
Forex Trading &
CFDs are leveraged products. Trading in CFDs related to foreign
exchange, commodities, financial indices and other underlying
variables, carry a high level of risk and can result in the loss of
all of your investment. As such, CFDs may not be suitable for all
investors. You should not invest money that you cannot afford to
lose. Before deciding to trade, you should become aware of all the
risks associated with CFD trading, and seek advice from an
independent and suitably licensed financial advisor. Under no
circumstances shall we have any liability to any person or entity
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following/copying the trading decisions of possibly
inexperienced/unprofessional traders and the overall risk associated
in CFD Trading or traders whose ultimate purpose or intention, or
financial status may differ from yours.
HIGH RISK WARNING: Foreign exchange trading carries a high level of
risk that may not be suitable for all investors. Leverage creates
additional risk and loss exposure. Before you decide to trade
foreign exchange, carefully consider your investment objectives,
experience level, and risk tolerance. You could lose some or all of
your initial investment; do not invest money that you cannot afford
to lose. Educate yourself on the risks associated with foreign
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