As a forex trader, no matter that you are a beginner or an experienced one, you should not skip this article. “Forex account in India” will bring you lots of interesting details about forex trading in Indian market.
The overall information about the forex trading market in India
It can be said that India is one of the most popular countries around the world to have the huge group of working class people whose interest on forex investment is raising more and more. This is a good news and a nice chance for forex market as well, as trading forex is quite new to Indian people. With the growth of broker scams as well as financial malpractices and risky of forex trading, Indian government has to enforce strict restrictions towards forex trading rules in Indian forex market.
Which organization regulates all forex accounts in India?
Established in 1995, SEBI (Securities and Exchange Board of India) takes the responsibility for regulating and supervising all problems related to financial entities. They forecast and make sure that all activities of regulated forex brokers and traders are safe. Also, they work with integrity and protect the Indian forex accounts from unstable situations. SEBI is among the most effective organizations in the globe which has the power to control and protect the forex trading market.
In order to make sure all firms apply the FEMA instructions regarding forex trading, SEBI and other relevant authorities need to regulate and authorize the Indian brokers. India is known for being a pioneer in the anti-money laundering laws as well as for being very cautious in the government policies which stop its citizens from investing in foreign brokers.
Even though SEBI and the relevant authorities have the right to ban any transactions with brokers from other countries, there still exist some exceptions. Many global brokers in India are branches from their head offices, which means they are not regulated by SEBI. Usually such brokers provide traders with illegal services and have no permission from the authorized organizations. As a result, it is pretty hard for the government to check their activities.
There are many reasons causing losing money among traders, but the main one is the shortage of knowledge in terms of forex markets. Thus, traders should be careful and search for such details before opening a forex account India. To sum up, if you are Indian traders or traders living in India, you had better trade with legal forex brokers in India.
Although most of them only permit transactions on INR related currency pairs, some may provide you with the convenience of investing in other countries. This is good news for you; however, you should check those brokers carefully to make sure their services are legal. For more information about forex account India, don’t hesitate to contact us.