Forex Accounts are also available in all majors states & cities of India like: Andhra Pradesh — Hyderabad & Sikandrabad, Arunachal Pradesh — Itangar, Assam — Dispur, Bihar — Patna, Chhattisgarh -Raipur, Goa — Panaji, Gujarat — Gandhinagar & Surat, Haryana — Chandigarh & Faridabad, Himachal Pradesh — Shimla, Jammu and Kashmir — Srinagar and Jammu, Jharkhand — Ranchi, Karnataka — Bangalore & Mangalore, Kerala — Thiruvananthapuram, Madhya Pradesh — Bhopal & Indore, Maharashtra — Mumbai, Manipur — Imphal, Meghalaya — Shillong, Mizoram — Aizawl, Nagaland — Kohima, Orissa — Bhubaneshwar, Punjab — Chandigarh, Rajasthan — Jaipur, Sikkim — Gangtok, Tamil Nadu — Chennai, Tripura — Agartala, Uttaranchal — Dehradun, Uttar Pradesh — Lucknow, West Bengal — Kolkata. Also these forex courses are available in these cities: Andaman and Nicobar Islands, Port Blair, Chandigarh, Dadar and Nagar Haveli, Silvassa, Daman and Diu, Daman, Delhi, LakshWadeep, Kavaratti, Pondicherry.

If you wish to open a forex trading account in India or want to open a commodity trading account in India, to trade gold, silver, oil on MCX, NSE, etc then you have come to right place. We make fx trading Indian commodities trading easy online.

A Brief about Indian Forex market and How to open a demo fx account?

Forex trading in India is one of the foremost ways to make money with your investments. Provided you know how to do it successfully, and spend quality hours studying the tricks of the trade, success is guaranteed. Forex trading for many people is their only means of livelihood. That’s because forex trading provides more than adequate return on investments.

The truth is that forex trading can make you extremely rich but you still need to trade it on your personal discretion. One of the chief reasons to that is the strength of the Indian currency. For the past decade, the Indian Rupee has gone through highs and lows, but it has never faltered. Added to that, Indian exports have increased.

Now the Rupee is sought by many countries across the world to buy Indian products. And hence the demand for forex currency. The Indian Rupee is so self-sustaining that it is not only listed on the Bombay Stock Exchange, but also on the Dubai Stock Exchange.

How to start forex trading

NRIs are entering the forex trading scene in India by the numbers. They have understood the potential India has very early. To begin trading in forex, you should have in-depth insights, knowledge and wisdom of the Indian forex market. You can get all this information by reading books, or simply by joining an online course that teaches you about Indian forex trading.

The course, apart from providing you basic and advanced information about the Indian forex market, will also acquaint you with the relationship between the Indian Rupee and the American Dollar.

Another option is to approach a broker. You cannot initially do forex trading on your own without assistance. It is slightly tricky and also very risky. When approaching brokers, do so only with credible brokers.

The profit you make in forex trading depends on the global economy. The Gross Domestic Product of India plays a major part in the determination of forex trading profits. The GDP influences the face value of the Rupee, inflation among other things.

The strength of the Rupee influences the influx of foreign exchange capital. A strong domestic economy creates international interest. International investors want to invest in India and get profits. This is an excellent time to make forex trading profits.

How to open a forex trading account in India

Opening a forex trading account in India is easy. You can do it in simple and easy steps. You select an account type, register yourself, and activate your account. A broker can help you in this regard.

There are two types of accounts. A personal account and a business account, also called a corporate account. Certain brokers have a managed account in the application form. If you want your broker to do the forex trading on your behalf, you select this option. But you would not want to do this, since you’d be better off learning the ropes of this yourself rather than rely on a broker.

Opening a managed account needs a lot of money. You have to shell out a minimum of twenty five thousand dollars. If you make a profit, the fund manager is entitled to a cut. Due to this, many people stay away from managed accounts.

Registration process

Forms for registration vary by fx broker to broker. You submit the form to the bank.

Activating your demo account

If your paperwork filing is successful, you receive an activation email. You have to follow the instructions as outlined in the email. If it is successful, you receive the username, password, and other set of details. Please note that the instructions and mode of operation differ by bank. But the concept behind opening a forex trading account is pretty much generic.

Currency Futures Trading in India

There has always been a big debate about whether forex trading is legal or illegal in India. Well it is very much legal to trade FX in India if you are doing it through the NSE. Last October, India kicked off currency derivatives or Indian FX Trading in other words, after decades of leaving investors without the option of making money from this lucrative opportunity, the Indian forex market has been opened for traders & investors. There were markets for non deliverable forward trading offshore earlier with the RBI monitoring domestic forward trading in currency. But currency futures were banned until the RBI decided to toy with the idea after Indian rupee futures began trading on the Dubai Gold and Commodities Exchange (DGCX). Now forex traders are easily trading US dollar against the rupee online.

70,000 contracts on the first day

It led to the start of the first currency futures trading at the National Stock Exchange (NSE) in India launched by the Finance Minister at that time, P Chidambaram. He spoke about developing the bond and derivatives market with interest rate futures in and secure credit derivatives market. As it got launched on August 29, 2008, interest was up and running with nearly 11 banks and 300 trading members registering and transacting nearly 70,000 contracts in a single day, with great fluctuations in the Indian forex rates. East India Securities conducted the first trade and among the banks, HDFC was the first to transact business. Of the total business done on that day, transactions by banks accounted for 40% of the total trade. The Reserve bank of India (RBI), happy with the proceedings went on to allow currency futures trading at the selected exchanges across India. Later, a plan was drawn up for setting up a futures market for currency with the help of RBI and the capital market monitoring organization, Securities and Exchange Board of India (SEBI).

If you want to do futures trading in currency or want to enter the forex market of India to trade various currency pairs online, then we can provide you all the facilities ramped up to suit your requirement. It was the NSE that first allowed to trade in futures although applications were sent in by the Bombay Stock Exchange (BSE) & MCX or the Multi Commodity Exchange. Primarily, the step to open up futures trading in currency was taken to provide companies with increasing flexibility and infuse more liquidity into the market. You may do it individually, involve your company or institution that could also be a bank to buy or sell the currency of your choice pitting one against the other at a predetermined date and price.

Enriching India’s financial sector

The opening up of the currency futures trading in India was done primarily to facilitate opening up and enriching the financial sector as well. It was happening elsewhere like in Dubai and everything was smooth, but the benefit wasn’t being ploughed back into India. With the deregulation and RBI monitoring, India would be getting a slice of the large volumes that are traded in the currency markets. As financial markets in India get ramped up, the move was greeted with cheers by the operators and banks across India and abroad. But there is a flip side to it. India failed to take advantage of the growing clout of the Chinese Yuan and has made derivatives trading other than the US dollar difficult. It is a short sighted move as the Chinese Yuan is gaining more prominence these days. China has even suggested to the US to allow the Yuan its rightful place among global currencies as the greenback is losing its luster. Yuan trading is being marketed aggressively by China and it would be another missed opportunity as Yuan-Rupee or the dollar-Yuan transactions are still not on. It’s a scenario of ‘better late than never’ for currency futures trading in India although options trading & trades above $5 million are not allowed. As the Indian economy continues to soar, experts feel the onset and rapid globalization that is taking place would enable the currency futures trading market in India to kick off fast.

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