Is trading platform Olymp is legal for Indians?
3 years ago
Olymp has two catagories - fixed time trading and forex trading
According to LRS or FEMA, is it legal to trade on olymp including legal deposit and withdrawals into bank accounts or e-wallets.
Some websites (blogs) says that it is not technically illegal. I am providing few links on which it is stated.
Please confirm the platform's legality for Indians.
https://www.republicworld.com/technology-news/apps/what-is-olymp-trade-app-and-is-it-legal-in-india.html#:~:text=Olymp%20Trade%20legality%20details,not%20be%20able%20to%20help
A.Hi,
This trading site is not legal in India.
This trading site is not legal in India.
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
This trading site is not legal in India.
This trading site is not legal in India.
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DIYAVARHUSSAIN SHAIK
Responded 3 years ago
A.Dear Client,
As per your inputs the issue falls under Foreign trade,
the existing laws and RBI rules is not permitting any individual to deal with the foreign currency, it is contrary to the law.
So better be away from that transaction
As per your inputs the issue falls under Foreign trade,
the existing laws and RBI rules is not permitting any individual to deal with the foreign currency, it is contrary to the law.
So better be away from that transaction
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Geeta Singh
Responded 3 years ago
A.Forex trading is illegal in india . Currency pair with inr is only allowed.
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A.Dear Sir,
At anytime you may how to face troubles better to avoid such tradings.
Rate me Five Star *
At anytime you may how to face troubles better to avoid such tradings.
Rate me Five Star *
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