Why is Forex trading illegal in India?



According to SEBI, Indian Forex traders are not supposed to indulge in any currency pairs that does not involve the INR as the base or quote currency. The Indian Rupee is the official currency and the legal tender of the country, and it is illegal for Indian citizens to transact in any other currencies while they are in India.

However it is legal to trade forex with Indian Exchanges like NSE, BSE, MCX-SX where they currently offer 4 pairs(USDINR, JPYINR, GBPINR, EURINR) in Derivatives (Futures and Options Segment). So if you are trading with Indian Brokers whom have membership with the above mentioned Indian Exchanges it is perfectly legal.

But still there are all the other option like bullion, base metals, energy, NSE and BSE to trade and earn high-end profit under the supervision of the advisory firms like 100mcxtips. The reports and tips are generated through a fundamental and technical analysis for high accuracy rate and tips.

(Source: https://www.quora.com/Why-is-forex-trading-illegal-in-India )




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