My regular readers would know that I have been promoting various online and offline money-making products on this blog for the past six years. This includes products in the online currency trading segment Read our beginners guide to online Forex trading here as well.
However, I thought of writing this post on countries where Forex trading is totally banned by law so that people are aware of what they are attempting to do before signing up with any Forex trading sites. Helena Sudan Syria Ukraine Zimbabwe.
They will never ever take any responsibility for your transactions because the onus is on yours. You could land up in jail if you run after some quick bucks without knowing the rules and regulations. As an alternative to open online Forex trading, one could always consider mechanisms such as currency future trading as explained in a recent post.
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These are completely legal mechanisms within the financial laws of every country. Foreign Exchange Controls RBI notification on online Forex trading.
Bank of India
Even worse, one can land up in jail if he does what is illegal in a particular country. Forex is a gamble for these countries and they do not prioritize capitalism.
There are different norms in every state is just that the perspective always contradicts with the goals and aims. The real problem is that illegal Forex trading is a big threat to the economy other other countries from where people are signing up for these schemes. Banning forex help in reducing the illegal funding but it is a big disadvantage for the people who sometimes need urgent money. I think they to settle some sort of intelligence to counter any illegal funding so that common people take the advantage of this service.
For the reasons I mentioned in the post — mostly due to strict anti money laundering regulations. Ajith, but you say forex futures are permitted to trade in India. I am really very much interested in forex trading business, what would be the best thing for me to move to countries where forex trading is allowed.
And suppose if i want to bring back the income to my home country gold forex trade signal what are the rules implicated. Kindly help an aspirant Indian Trader.
Ashvini, Yes, only currency futures trading is permitted in India and that too only selected pairs like USDINR, EURINR, JPYINR etc.
Trading in currency futures or stock futures in India is a much safer and legally permitted option in India.
I am new here and also new to forex trading. I am learning about forex trading. But people are making me confused. Forex trading in india rbi guidelines people are saying that forex trading for individuals is illegal and some other say legal.
Hi Sami, Yeah I knew that they are the same but somehow they were duplicated here duplicated. Thanks for pointing out the mistake. You should be able to trade via regulated trading sites. But not via any Indian Bank but UK bank accounts.
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Ajith Prasad Edassery 6th Jan 20 Comments. Helena Sudan Syria Ukraine Zimbabwe Further clarification on ban categories The ban or inability to do Forex trading could be due to the following financial regulations: Online Forex Trading Tagged With: January 14, at 6: Will there be a loss of Capital for these banned countries?
Forex Trading Banned Countries - Updated list - edegawiwajy.web.fc2.com
January 22, at 8: January 10, at 9: January 23, at January 25, at 8: December 25, at 6: January 26, at February 5, at January 31, at October 1, at 7: October 7, at Of course, any type of trading involves risk to your capital.
March 7, at 2: Dear Ajit, I need to do forex trading,i have good strategy also. December 7, at 2: Is forex trading legal for individuals or not? December 9, at June 2, at 2: June 9, at November 19, at 5: November 25, at 6: December 8, at 2: Google Follow Us RSS Feed Facebook.
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