Forex Traders In India
Forex Brokers in India Forex brokers active in India are subject to the regulations and oversight of the Securities and Exchanges Board of India (SEBI), which is an independent body tasked with ensuring the smooth functioning of the country`s stock markets and brokers. Forex Brokers in India Forex OTC trading has been illegal in India since 2000, when the Foreign Exchange Management Act (FEMA) came into effect, but traders have found ways to circumvent the law and trade financial markets anyway.
As a child, I remember collecting coins and bank notes from my father, every time he would return from one of his trips abroad. The colors, the pictures, the name and sign of the currency – it would transport me to a different world – a place where I saw myself traveling to different countries around the world. As I grew, I did travel to many different countries and my collection of coins and bank notes of different currencies kept growing. This interest in collecting different currencies soon developed into studying the connection between one currency with another and very soon into the world of trading foreign currency or FOREX as it is called. My interest led me to; a website, where I learned everything about Forex trading and started my trading activities from and have continued since. Last week, as I was sorting through my collection of coins; my daughter asked me to explain to her what Forex Trading was all about. Before I could launch myself into talking about the intricacies of Forex trading, she smiled and said, “Dad, start from the beginning and keep it simple.
Forex Trading In India
I have absolutely no idea about this but would like to know and understand why it fascinates you so much.” Taking a deep breath and collecting my thoughts I started. What is Forex Trading? The term ‘Forex’ stands for Foreign Exchange. In simple terms is the trading in currencies from different countries against each other; for example the US Dollar against the Euro. Anyone who deals with a foreign country – be it a holiday there, or wanting to purchase something from that country or pay for a service, generally requires the currency of that country to do so.
For example, to pay for your college fees at Dubai, I need to make the payments in UAE Dhirams as Indian Rupees are not accepted there. Of course, I could pay in US Dollars too, as it is accepted almost everywhere, but that is a different story.
So, in order to make this payment, I would have to buy UAE Dhirams by paying the equivalent amount in Indian Rupees. Remember all those signs stating ‘Foreign Currency Sold / Exchange here’; well, that is where I give the Indian Rupees and get UAE Dhirams in exchange.
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India Forex Trading Brokers
Now for these brokers to be able to give me UAE Dhirams, they need to buy the same – this is done in the foreign exchange market – the largest, most liquid financial market where currencies worth over $4 trillion are exchanged daily. One of the most fascinating things about this market – there is no brick and mortar marketplace for Forex trading.
![Forex Forex](https://image.slidesharecdn.com/forextradingforexbrokerindia-evenforex-151123080110-lva1-app6892/95/forex-trading-forex-broker-india-even-forex-1-638.jpg?cb=1448265752)
Every transaction is done electronically over-the-counter. Unlike the stock exchange, the Forex market remains open round the clock with currencies traded across every time zone, five days every week. World economic calendar forex. Fascinating, isn’t it? Like the broker who changes my Indian Rupee to UAE Dhirams, I too trade on the Forex market on my own – all it required was to open an account with a.
Forex Broker In India
I selected one from ForexSQ and have been trading since then. However, Forex trading is different from exchanging money at the Foreign Exchange outlets. How to choose a binary options broker reviews. There is much more to Forex trading than just exchanging one currency for another. The two currencies that have the highest trading volume on the Forex market are the US Dollar and the Euro – but, other currencies are traded as well. One of the biggest advantages of Forex trading is the ‘leverage’ that is provided to me by my broker.