Your question: Who is the best forex trader in India?

Who is the best forex broker in India?

Best Forex Brokers India

  • IG – Best overall broker 2021, most trusted.
  • Saxo Bank – Best for research, trusted global brand.
  • Interactive Brokers – Great for professionals and institutions.
  • City Index – Excellent all-round offering.
  • FOREX.com – Great all-round offering.
  • eToro – Best copy trading platform.

5 дней назад

Who is the best trader in forex?

Can Forex Trading make you a millionaire?

  • Sandile Shezi.
  • George Soros.
  • Joe Lewis.
  • George Van Der Riet.
  • Paul Tudor Jones.
  • Martin Schwartz.
  • Ref Wayne.
  • Stanley Druckenmiller.

Can I trade forex in India?

Currency futures in India are cash settled. … Currency futures are traded on platforms offered by exchanges like the NSE, Bombay Stock Exchange (BSE), MCX-SX. Currency trading usually happens from 9.00 am to 5.00 pm. You need to open a forex trading account with a broker to do trading in the live currency market.

You can trade only in RBI and SEBI approved forex pairs and through SEBI authorized brokers only. … So answer is that FXTM is not authorized by RBI or SEBI to carry out any kind of operations in India. Hence, it is illegal in India.

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What is punishment for forex trading in India?

Hi, there is no punishment for doing forex trading in india. There is punishment for misusing USDOLLERS from RBI Reserves ( if you think you deposit USDOLLERS from your INR bank account, RBI have to pay USDOLLERS behalf of you) and also It is our responsibility to save our foreign reserves.

Can you get rich by trading forex?

Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader. But for the average retail trader, rather than being an easy road to riches, forex trading can be a rocky highway to enormous losses and potential penury.

Why do forex traders fail?

The reason many forex traders fail is that they are undercapitalized in relation to the size of the trades they make. It is either greed or the prospect of controlling vast amounts of money with only a small amount of capital that coerces forex traders to take on such huge and fragile financial risk.

Is it possible to make 100 a day day trading?

You can make 100 a day in the stock market, but if you are a gambler, because , you will have to risk all your money every single day, and the market likes people who think this way. … there are some exceptional cases, but if you want to trade for a living, you should not think this way.

Why do traders lose money?

Too much panic in the market

One of the basic reasons traders lose money in intraday trading is due to panic. In the stock markets when you panic, you actually subsidize the other trader who does not panics. Profits always flow from the trader who panics to the trader who does not panic.

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Can we do forex trading in Zerodha?

Yes, Zerodha offers trading in forex (currency). You can trade in currency derivatives at BSE and NSE exchanges using the Zerodha trading account. The customer has to enable the Currency trading segment before start trading in the currency.

How do I start trading forex?

Forex Trading Step by Step:

  1. Step 1: Get a Device Connected to the Internet.
  2. Step 2: Find an Online Forex Broker.
  3. Step 3: Open an Account and Fun Account.
  4. Step 4: Download a Forex Trading Platform.
  5. Step 5: Enter Your First Trade.

Can I do forex trading without a broker?

Trading Without a Broker

If you want to trade forex without a broker, you can start by checking different market quotes online and finding forecasts of how different currencies will be traded in the future. … You then take this money and purchase a currency that has a higher interest rate.

Is Zerodha registered with SEBI?

Zerodha, being a Trading Member of NSE and BSE, registered with Securities & Exchange Board of India (“SEBI”) and having Registration No. … Commodity trading on your account will be enabled through Zerodha Commodities Pvt. Ltd., a member of MCX (Registration No. 46025) and having SEBI Registration Number INZ000038238.

Is Olymp trade illegal in India?

Olymp Trade legality details

According to various sources, Olymp Trade is not technically illegal in India but it is in no way monitored or controlled by SEBI or RBI. This means if a trader faces any issues with regards to the app’s transactions or collections then Indian authorities will not be able to help.

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What is difference between mt4 and mt5?

MT4 was specifically built for forex traders, whereas MT5 was designed to provide traders with access to CFDs, stocks and futures. … For more information on the key differences between the MT4 and MT5 platforms, or information on the trading platforms available at FXTM, click here.

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