Online Forex Trading

Welcome to Online Forex Trading

The Foreign Exchange Market also known as Forex or Fx or Currency market is the Largest and the most active Market in the World. Largest because of the volume (More than 2 Trillion Dollars per day!) and active because it's a 24 hours market. Most of the trading takes place through Electronic Broking System also called as 'Forex Robots' At any given time, in some part of the world, foreign exchange is traded.

Few years ago foreign exchange trading was limited to banks and other Large Financial Institutions. In this electronic age, any individual can do online trading with the help of computer and Internet. Almost all Banks, Hedge funds, Pensions funds, Mutual funds are involved in foreign exchange trading. Money can be made whether a currency is gaining in value or loosing it's value.

Currencies are always quoted in pairs. 4 major pairs traded are EUR/USD, USD/JPY, GBP/USD and CHF/USD. Cross currencies are also traded. Pairs like EUR/JPY, EUR/GBP, GBP/JPY � etc are called as Cross pairs. Other than these major and cross pairs, some minor pairs like AUD/USD, USD/CAD are also traded giving the trader or investor, a freedom to trade in whichever currency he/she chooses.

Other than Volume and Liquidity, Forex offers more to Traders and Investors.
o 24 Hours trading
o Commission free trading (Broker earning only from spread)
o Sell before you buy
o Margin Trading with leverage up to 500:1

Forex Trading in India

We are regularly asked if Forex trading is illegal in India. Our answer has always been 'NO' As per the information we have, there is no law that says forex trading is illegal in India. Indian Rupee trading that take place in India is also forex trading. Government has not made any law which says INR trading is allowed, USD trading is illegal. Indians are allowed to open forex trading account abroad, but can not send the funds from India under Liberalised Remittance Scheme of RBI. Using Credit Cards, Debit Cards or any other online payment methods is also prohibited which makes international forex trading difficult for Indians.

Best Forex Brokers in India

Many International Forex Brokers operate in India through their Introducing Brokers. Many Indians have taken white label and operate illegally in India. White labels are not safe as they are not regulated and financially not sound. A broker needs to have at least a million dollar capital to operate comfortably. All the small timers shut their shops after a year or 2.

How to chose a Broker?

Most of the traders expect the forex broker to have an office in their city. Forex Brokers with posh offices attract more capital than forex brokers without an office in that city. Investors feel safe when they see a local presense. It doesn't take much time for a broker to open an office and shut down the same. One must check the background of the company and reputation of the promotors to chose the right broker. It is absolutely fine to invest with a well established and regulated forex broker who has only one office in some part of the world.