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Forex brokers in India

Trading in the Forex market is now a popular occupation that has been taken on by many people in the world. They notice that with all the necessary tools that are available to assist them to make an affordable living many are turning into dealing in the foreign exchange market. Although there are many intelligent people who would be millionaires by dealing in the Indian Forex trading have second thought due to certain limitation that have been imposed by the Reserved Bank of India with regards to Forex trading in India.

Every Indian is well aware of the situation with regards to dealing in foreign exchange; they all understand that a simple example of receiving and sending money through Western Union has limitations. An Indian can receive funds through Western Union which is recognized worldwide but cannot send funds from India. This is so thanks to the strict foreign currency exchange policy, which is known for its protection of the Rupee and keeping away for the world's economy.

Thanks to the world's globalization, in recent times the Reserve Bank of India did amend its rules and regulations permitting Indian brokers who are specialized in money markets to play a part in the Forex market by dealing in currency futures. This was fine but there was a catch where there were only limited to the pair of US$ and INR dealings.

One can get hold of various Forex brokers in India who are excellent and can be easily located through referral or the internet. It is greatly advised that people intending to invest in the currency market should follow certain criteria's before placing their hard earned money down. They should consider the following to make sure their investments are in good hands.

  • Perform a through check and validate the Forex trading firm.
  • Ensure that they run with Forex laws and terms.
  • Check their business experience and their ability to progress in the Forex trade.
  • What sort of spreads do they offer?
  • Do they offer stop losses?
  • The question of if, the invested funds would be placed in a reputed bank.

The main participants of the Forex trading in India are:

  • Central banks of countries
  • Commercial banks
  • Investing banks
  • Legalized brokers
  • Specially licensed dealers in Forex trading
  • Pension funds
  • Insurance companies
  • International corporations
  • Individuals