How to trade on forex from india


Get Started with Forex in India

  1. Get a digital device with fast Internet connectivity. You can use your desktop, laptop, tablet or smartphone to trade forex. …
  2. Find an online forex broker. There are several forex brokers available online. Go through each broker’s website and choose 1 that allows you to trade INR currency pairs.
  3. Sign-up for an account. You can open a new account with the forex broker on its website. …
  4. Transfer funds to your account. Once you’ve signed up for an account, you need to transfer funds to start trading forex. …
  5. Download a forex trading platform. You need to download the forex trading platform on your computer or smartphone. …
  6. Begin your forex trading journey. Before you start trading forex, you might want to run a few demos using virtual money. …
Get Started with Forex in India
  1. Step 1: Get a digital device with fast Internet connectivity. …
  2. Step 2: Find an online forex broker. …
  3. Step 3: Sign-up for an account. …
  4. Step 4: Transfer funds to your account. …
  5. Step 5: Download a forex trading platform. …
  6. Step 6: Begin your forex trading journey.


Who are successful forex traders in India?

Traits of Successful Forex Traders

  1. Discipline. Discipline is one of the most significant traits of successful traders. …
  2. Patience. Patience is another important trait of successful traders.You sometimes need to hold your horses and wait for the appropriate time.
  3. Adaptability. Most of the time, there is high liquidity and volatility in the forex market. …
  4. Control on Nerves. …
  5. Rational Thinking. …

How to start currency or forex trading in India?

Which Things Required To Start Currency Trading ?

  • Open a currency trading account with a reputed broker like Nirmal Bang as the company does not charge any account opening fees
  • Abide by the Customer KYC (Know Your Customer) norms.
  • Deposit the required margin amount.
  • Get requisite access credentials from your broker to begin.

Why is forex trading illegal in India?


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What is the best timing for Forex trading from India?

India currency trading time in India exchange market is from 9:00 A.M. till 17:00 P.M. For MetaTrader traders, the forex market closes at 02:30 AM IST (Indian Standard Time) on Saturday, and the forex market opens at 02:30 AM IST on Monday (European forex brokers usually have this timing). US market opening time in India time is 7:00 PM IST.


How do I start forex trading in India?

To make your first forex trade, you have to firstly open the currency trading account. You have to fulfil the broker’s KYC requirement for this. You will have to deposit a margin amount, which is the deposit amount that the broker holds while your forex trade remains open.

Which is best for forex trading in India?

Best Forex Brokers IndiaIG – Best overall broker, most trusted.Saxo Bank – Best web-based trading platform.Interactive Brokers – Great overall, best for – Excellent all-round offering.AvaTrade – Great for beginners and copy trading.Admiral Markets – Great for MetaTrader.More items…•

Is forex illegal in India?

It is legally allowed to trade Forex within Indian Exchanges like BSE, NSE, MCX-SX. However, you can hit big or lose it all just as easily. If you think a currency will increase or decrease in value, you can buy or sell it accordingly.

What is punishment for forex trading in India?

Hi, there is no punishment for doing forex trading in india. There is punishment for misusing USDOLLERS from RBI Reserves ( if you think you deposit USDOLLERS from your INR bank account, RBI have to pay USDOLLERS behalf of you) and also It is our responsibility to save our foreign reserves.

How much leverage is right for forex?

How Much Leverage is Right in Forex Trade. Forex trading involves leverages up to 300:1 , which means you can trade for amounts up to $30,000 with just $100 in your account. Misuse of leverage is one of the reasons why forex traders lose money.

What is the second most traded currency in the world?

The Euro (EUR) The Euro is the second most traded currency and the second largest reserve currency used across the world for trade and commerce. The Euro is largely used by multiple nations as a common currency in a eurozone. #3. The Japanese Yen (JPY) The Japanese Yen is the most traded currency of Asia.

What is leverage in trading?

Leverage. Leverage is the multiplier, the X times the margin for which you can take a position. For example, if you have $10,000 in your account and have a 10 times leverage then you can take a $10,000 x 10 times = $100,000 value of the position.

Is a forex brokerage regulated?

The forex brokerage houses are regulated, market participants. Look for the number of countries under which the firm is regulated. Regulated market participants are required to have certain minimum capital and follow benchmark standards which result in healthy trade practices.

Is a direct quote based on the currency?

Quotes can be direct or indirect based on the domestic currency. In a direct quote, the domestic currency is the quoted currency. For example, for a US-based forex trader GBP/USD, is a direct quote. In an indirect quote, the domestic currency is the base currency.

Do you have to pay fees for forex trading?

Unlike stock trading, you don’t need to pay fees on each forex trade. Forex trading deals directly with market makers and not through brokers. Spread on a currency pairs is what differs from firms to firms. The difference can be as small as one pip (0.0001), but with large volume, it can make a significant difference.

Why Trade Forex in India

There are a few reasons why people turn to forex trading rather than any other financial market. Let’s take a look at some of them:

How are Currencies Traded

Since buying/selling a currency implies paying for it with another currency, currencies are always traded in pairs. So what they trade in the FX market is called currency pairs. There are many currency pairs, for example, EUR/USD (Euro/US dollar), USD/INR (US dollar/Indian rupee), etc.

Where Can I Trade Forex in India?

Currencies are traded over the counter (OTC) through an online brokerage system. To become a trader, one needs to sign up with a broker and open a trading account. There is no need to go through formal training or receiving a license to enter the market.

How to Open a Forex Account and Start Trading in India

Start trading currencies by registering with a broker and opening a trading account. Today practically anyone over the age of 18 can open a trading account with an online broker. Follow the link to open your personal trading account. To do it, you need to fill in the form with your data and submit it.

Forex Market Operation Time in India

The forex market operates from 12:00 am on Monday to 3:30 am (IST) on Saturday. This schedule is predetermined by the fact that there is no universal center for all money exchange. There are multiple centers of commerce and trading all around the world. The most significant ones in terms of trading volume are Frankfurt, London, and New York.

Final Words

Forex trading offers high profits to people who are ready to give it time and effort. One can open a trading account and profit from the currency market from home. To start trading, it is required to open an account with a broker and make a deposit.

About Justforex

Try your hand at currency trading by opening a demo account on Justforex. It’s a quick and risk-free way to master trading in the most liquid financial market. A practice account will help you learn trading basics and develop a strategy before investing money. Start trading today to take care of your future tomorrow.

How can I become a successful forex trader?

To become a successful forex trader, you will need to have some forex trading strategies under your belt. The amount of strategies out there can become overwhelming though, so we suggest starting by familiarizing yourself with the most successful forex trading strategies first and foremost to help you stay focused.

Who regulates forex brokers in India?

Furthermore, make sure to determine who the broker is regulated by; brokers offering services to traders in India should be regulated by the Reserve bank of India (RBI), the regulatory authority over forex brokers in India.

What is scalping forex?

Scalping. Scaping is a strategy used by some forex traders to make a lot of smaller trades over and over. You can set the entry and exit positions with smaller movements in the currencies to ensure low margins. To be good at scalping, traders need to make precise executions.

Where is Pepperstone forex broker?

Pepperstone is a forex broker based in Australia, with competitive features everywhere you look. All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team.

How long does a position trade last in India?

Position trading is another key forex trading strategy in India where traders hold positions open long-term. With this strategy, trades can last from about a week to a few months, or even several years. Traders can benefit from larger movements in the price of currency pairs without the need to focus on smaller market changes.

Can you trade forex in India?

As we just noted, forex trading is legal in India, but you can only trade currency pairs that include the Indian Rupee. A key reason behind this limitation is because the Indian Rupee is weak against the USD. If traders in India want to buy the USD they must do so from the Central Bank of India.

Is day trading good for forex?

This ensures that traders are less likely to be hit with unprecedented losses as a result of overnight volatility. If you’re just starting out forex trading, day trading is a clear cut and straight strategy to begin earning a profit. Day trading is a good way to limit risk and increase your odds of profitability.

Key Benefits of Forex Trading in India

Forex trading is already a new reality for Indians. Here are the reasons you should consider when joining the team of traders:

How to Find a Forex Broker in India?

This is a very important stage since your trading experience strongly depends on the broker’s level of professionalism. You should do your homework and prioritize quality over quantity. Yes, it takes time, but a reliable broker is what can support you in case of any troubles. We strongly recommend taking the following steps:

How Much Money do You Need to Start Trading?

Everything depends on the broker you cooperate with. Justforex offers you a great opportunity to start trading by depositing just $1. Yes, that’s not enough for great returns, but that’s how everyone starts. A step-by-step approach is a foundation of success that can’t be ignored.

How to Start Forex Trading in India?

What should I start with? Is it the right thing to do at this stage? You will be overwhelmed by such questions all the time if you don’t follow the recommended steps in becoming a trader:

How To Open A Trading Account In India?

You can easily open a trading account with Justforex by following the link and filling in the registration form. After you download a trading platform ( MT4 or MT5 ), you will need to sign in with your email address, and there it is, you are a trader. Make a deposit and start trading in India.

Final Words

It might seem to be difficult and overwhelming, but if a person knows what he/she wants, the sky is the limit. All you need to do is to ask yourself a question about what you really want as a trader, and you will be getting the answers throughout all stages of learning.

About Justforex

Justforex is an international broker with clients from 197 countries.

Forex trading in India: An introduction for new traders

The foreign exchange market is also referred to as the forex or FX market. In today’s age, it is powered by telecommunications technology and remains active 24 hours a day.

How does it operate?

Categories: Foreign exchange market has two distinct trading communities:

Purpose of the forex market

Hedging of currency risk is one of the two drivers behind the foreign exchange market. Through the FX market, a party to an international transaction can fix the currency value at which the transaction will be calculated. This insulates the party from a sudden devaluation in the foreign currency.

Operational details

There are two currencies involved in any forex trade, the first listed currency is called the base currency while the second one is called quote currency. If INR is the base currency while GBP is the quote, INR/GBP traded at 0.0097 means that one INR is equal to 0.0097 GBP.

Indian currency market

In India currency futures can be traded in popular exchanges like NSE, BSE and MCX. The trader here needs to open a forex trading account with the broker, and trading is done between 9 am and 5 pm. The trades do not involve any physical delivery and are cash-settled.

Risks involved

As mentioned above, various factors influence the exchange rate of a currency. What a central bank of a country decides is subject to the internal monetary policy of the country. If your trade involves that country’s currency, it will be subject to unexpected fluctuations. Therefore, currency trading is considered to be a high-risk playground.

Choosing the right broker

If you are trading in FX through a broker, make sure that it is registered with the exchange and is of good repute. The leverage and margin options offered by the broker is also important. A 10:1 leverage in your margin account can allow you to take an FX position of Rs 1 lakh with a margin deposit of Rs 10,000.

What is, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets plus spot metals with low pricing and fast, quality execution on every trade.

How long does it take to trade day trading?

These trades can take place anywhere between a few minutes to a couple of hours. This way you can avoid running through unprecedented losses due to overnight price volatility.

What is swing trading?

Swing trading is a strategy that involves trading forex currencies over a day or a week. This method gives you plenty of time to deflect daily ups and downs in the value of currency pairs. You can skip through needless stop losses along the way with this medium-term forex trading strategy.

What is SEBI in India?

It is an autonomous authority that protects forex securities issuers, investors and forex-related agencies.

Does CedarFX offer Eco accounts?

CedarFX offers an Eco Account option, which includes a $1 commission for every lot traded. 100% of commissions paid are matched by the broker and used to plant trees in partnership with the Eden Foundation and support Gold Standard certified carbon reduction projects. Get Started.

Is forex trading legal in India?

Forex trading is not entirely legal in India. You are only allowed to trade currency pairs that include the Indian Rupee (INR). The primary reason behind this restriction is that the INR is weak against the U.S. dollar (USD). Traders from India who want to buy the USD have to purchase it from the Central Bank of India.

Is Avatrade a broker?

A fully regulated broker with a presence in Europe, South Africa, the Middle East, British Virgin Islands, Australia and Japan, Avatrade deals with mainly forex and CFDs on stocks, commodities, indexes, forex, cryptocurrencies, etc.


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