Is It legal to send money to Prop Firms from India?
1 year ago
RBI has banned forex trading through foriegn brokers. But platforms like FTMO charges a fee for evaluation of the trader then refunds it if he/she passes. Then provide them trading funds. If we get profit it'll payout a reward for us. Is it legal India?
A.Dear client,
Hello In India, however, forex trading platforms are banned. While you cannot directly trade in the foreign exchange market, you can still trade in currencies through the stock exchange. Under the Foreign Exchange Management Act (FEMA), binary trading is not allowed. But in your case you are trading for third person which i think would not create any problem as the amount you are investing is not yours neither is the account, you are just sharing the profit.
Thanks.
Hello In India, however, forex trading platforms are banned. While you cannot directly trade in the foreign exchange market, you can still trade in currencies through the stock exchange. Under the Foreign Exchange Management Act (FEMA), binary trading is not allowed. But in your case you are trading for third person which i think would not create any problem as the amount you are investing is not yours neither is the account, you are just sharing the profit.
Thanks.
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A.Dear Sir,
When it is banned no other short cut method can be used in the said scheme. Thus it is not legal in India.
When it is banned no other short cut method can be used in the said scheme. Thus it is not legal in India.
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