Fema act forex trading


  1. Overseas Forex Trading India–Legal or Illegal | Legal Way
  2. Is Forex trading illegal in India? Can Indians trade Forex Legally?
  3. Helping you with Forex Services services
  4. Is forex trading legal in India?

According to these guidelines, the principal rule was that all branches of foreign companies operating in India should convert themselves into Indian companies with at least 60 per cent local equity participation. The actual impact of this act was completely negative on the economic development of the country, because it tied the hands of big corporate houses to expand their business, so it was felt by the policy makers that there should be some relaxation in the act so that the economic development through industrialization can be speed up in the country.

The Bill aims "to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India. Among the various objectives of the Foreign Exchange Management Act FEMA , an important one is to revise and unite all the laws that relate to foreign exchange.

Further FEMA targets to promote foreign payments and trade in the country. The following are some of the important features of Foreign Exchange Management Act:. It is consistent with full current account convertibility and contains provisions for progressive liberalisation of capital account transactions.

Overseas Forex Trading India–Legal or Illegal | Legal Way

It classified the foreign exchange transactions in two categories, viz. It provides power to the Reserve Bank for specifying, in , consultation with the central government, the classes of capital account transactions and limits to which exchange is admissible for such transactions. This act is a civil law and the contraventions of the Act provide for arrest only in exceptional cases. As is clear from the name of the Act itself, the emphasis under FEMA is on 'exchange management' whereas under FERA the emphasis was on 'exchange regulation' or exchange control. Under FERA it was necessary to obtain Reserve Bank's permission, either special or general, in respect of most of the regulations there under.

FEMA has brought about a sea change in this regard and except for Section 3 which relates to dealing in foreign exchange, etc.

  1. Foreign Exchange Management Act (FEMA): Guide and RBI rules.
  2. Foreign Exchange and Management Act, 1999.
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No doubt! Capital outflow that way would be minimal and the freedom of action duly remain protected. But when I submit my withdrawal request to my FX Broker, my account has been disabled by them, and they verbally deny my withdrawal request. Please suggest me what should I do???

Is Forex trading illegal in India? Can Indians trade Forex Legally?

You are right sir, they are not registered or trade with any of the exchange. Are these brokers Genuine.? Shall i continue with it or shall i stop trading as people says it is illegal to trade in forex..? Are there any Genuine online Forex brokers.? They may be genuine online forex brokers. However it is illegal for Indian Retail traders to trade with those brokers.

Even Alpari the No. Not legal for Indian Residents. If not, is it completely illegal?? I just had a chat session with someone from a UK based forex broker. Please explain.

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Yes Ajit, Many people in india are trading in forex market but that doesnt means that it is a legal concept. When comes to scrutiny you are one to suffer. Rajandran R :i invested nearly dollars in sunbird and made more when i requested i was able to draw money to my account i never felt any problem.

Hi bhargav can i speak to u regarding forex in private.. Forex trading with INR pair is legal in india and other pairs are illegal. I have been doing that since I earn online, invest with an online forex broker and so does it go on. They want indians to be losers. Check this out. Someone kickk indian foreign ministers asss. I share your feelings, but not country will give you citizenship or residency just because you have dollars. I am in big trouble because of this forex trading. I had paid to iForex.

Now Citibank is closing my account stating that it is illegal and against FEMA rules therefore Citibank is closing the account forever. I never made any money from iForex due to less time and I started that just for learning purpose…. Donno what to do now. Can anyone please help? Hi Mano.. I face the same issue now. Did you get any help from anyone? If yes, pls help me-thanks. If anyone does take that with the greed , then he is over to follow the hidden agenda of crossing the bonus level. So you end up losing, SO do take care , we can make money in our stocks and mcx if you are deciplined trader with a little fundamental,am sure Rajendran is doing ,all he can, for that.

And i am wondering why is nt Arvind kejirwal fighting for this and i am thinking wat did he do with 1. These people are trying to make money also I just dont know where this will conclude. Bro your question is half correct. U can ask why Arivind Kejriwal not questioning on this. Nothing wrong. Also he used to charge Rs Y from any one who seek his autographs on those days many people including british officials are fond of getting his autographs along with these those days many rich people used to donate money for the freedom movement else how do u think that Gandhiji used to travel in Car from town to town village to village through out the country?

Movement doesnt mean that no money is required. For even movement money might be required. But what we need to look at is how that money is utlised. Gandhiji never misused the money so he became ideal person. But we have tocheck what Mr Arivind Kjriwal is doing. More over you have mentioned about china products right its people like us who give damn to this country.

Helping you with Forex Services services

Have you ever questioned any politician or govt employee for not doinf what he has to? No right? First we has to change then Country will change. If you want to eanr there are many ways need not to play with the currency. This link is updated Act on Jan Please explain me better if I am not understanding it correctly as Finance is actually not my area. See answer 4 to question 30 which prohibits money transfer outside india for trading in foreign currencies.

And how about this link wher rbi warns against forex trading?

Is forex trading legal in India?

Hi, Can you please guide me to any online declaration where it is given that Forex trading is legal in India? I am facing an issue here. Last year I opened a account with iForex Its advertisement on Yahoo page flashes all the time. I paid Rs to start the account.