Forex trading in India

India has a rather strict foreign currency exchange policy - even though many liberalization measures have been taken recently, it's still an economically isolated, or highly protected country. Indian currency - rupee, is highly regulated by the national banking authority - Reserve Bank of India, and so Indian citizens still cannot freely exchange rupee to other currencies, they have to prove their need and there are annual limits for different needs (more). Even popular money transfer systems such as Western Union - which is spread worldwide and available to everyone, are forbidden in India - residents can only receive money, but not send.

However, because of the globalization there is a definite need to open the economy, so Reserve Bank of India has been softening rules and regulations in recent years.

One of the important changes in regards to Forex trading is that in year 2008 Reserve Bank of India has finally allowed currency futures trading. Speculative trading became a permissible operation too - since it became impossible to ask for a proof of a hedging need.

We at Forex4you are happy that one of the biggest and the most perspective country in the world is finally joining the world of opportunities of Forex trading market!

More details are available on the official website of RBI - here.

Note that Indian brokers are only allowed to provide USD/INR pair at the moment. Since we're located outside India, in British Virgin Islands, we do provide customers with many more pairs, many of which are much more interesting for traders because of their nature. Rupee, being a highly regulated currency, is not as volatile as other currencies and doesn't allow as much analysis since movements depend on RBI decisions and not on market events.

Our another advantage over brokers registered inside India is that we don't have any fees or minimum transactions/deposits. Services are much more affordable at our company!

Even though we're registered outside India, we do have an office in Mumbai where an Indian company that has a contract with us, provides our Indian stakeholders with support and consultations.

Forex Tips

Always use Stop Loss Orders. If you don't use them, it will kill you financially. We recommend stops 30 pips above or below your entry price.

Don't loose more than 5%-10% of your total capital in each trade. Adjust your stop orders and leverage if needed.

Let the profits run, cut the losses. Instead of using Take Profit orders, it's better to use a "Trailing Stop". If your broker doesn't support it, you can do it manually. Set the stop price at 30 pips (or the amount that you have chosen) above/below the maximum/minimum price since your entry. You will have to adjust the stop level continuously, but you will get much better results.

Don't go against the trend. Go with the trend.

Capitalize well. Fund your account with enough money. For standard accounts, at least $5000 (for mini accounts $500).

It's less risky to don't let trades opened overnight.

Why Currency Trading Is Not For Everyone

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for everyone. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. Remember, you could sustain a loss of some or all of your initial investment, which means that you should not invest money that you cannot afford to lose. If you have any doubts, it is advisable to seek advice from an independent financial advisor.

What is Forex?

you may have noticed that the value of currencies goes up and down every day. What most people don't realize is that there is a foreign exchange market - or "Forex" for short - where you can potentially profit from the movement of these currencies. The best known example is George Soros who made a billion dollars in a day by trading currencies. Be aware, however, that currency trading involves significant risk and individuals can lose a substantial part of their investment. As technologies have improved, the Forex market has become more accessible resulting in an unprecedented growth in online trading. One of the great things about trading currencies now is that you no longer have to be a big money manager to trade this market; traders and investors like you and I can trade this market.

How Forex Works

The currency exchange rate is the rate at which one currency can be exchanged for another. It is always quoted in pairs like the EUR/USD (the Euro and the US Dollar). Exchange rates fluctuate based on economic factors like inflation, industrial production and geopolitical events. These factors will influence whether you buy or sell a currency pair.

Example of a Forex Trade:
The EUR/USD rate represents the number of US Dollars one Euro can purchase. If you believe that the Euro will increase in value against the US Dollar, you will buy Euros with US Dollars. If the exchange rate rises, you will sell the Euros back, making a profit. Please keep in mind that forex trading involves a high risk of loss.

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