Forex Brokers

Posted by admin 26/08/2013 Comments are off 557 views

Forex Brokers

The Bank and Forex Brokers:

You should be warned that the reserve bank is trying to stop all Forex trading that individuals do in India. So if you are a Forex broker you should not let individuals or attempt to lure individuals into trading on the Forex market at all. Instead you should ask to see their corporate papers that declare that they are a part of a corporation and then you should inform them that they can only gain up to 10 times their initial investment if they get results from the Forex market.

Forex Brokers and Responsibility to Corporations:

As a Forex broker in India you should be responsible to your clients that are corporations. Besides mentioning the facts above in the previous section you should also mention that there are no guarantees that they will earn money on the Forex market and that they might end up actually losing money at times. You should make it clear that Forex trading is risky in particular if they are promised high gains in lieu of their ability to trade on the Forex market.

People Seeking a Forex Trader for their corporate trading:

If you are an individual or a corporation seeking a Forex broker you should be aware of the facts mentioned above. You should be also concerned if they are a foreign Forex trader and they even attempt to lure into the Forex market in particular if you are just a lone individual. You should even refrain from going to the Forex broker if you are an individual at all.

If you are a corporation then you should proceed with caution and be aware of the facts mentioned above. You should ask for clarification on what the law means by 10 times the leverage rate. If you do not get a clear answer from your Forex broker then you should contact the RBI and the Reserve Bank in India to get your answer. You should get this answer before you even start changing your money into a dollar and putting it in the Forex market.

Conclusion:

In conclusion trading on the Forex market is very risky and it is your responsibility as an Indian citizen regardless if you are the Forex broker or just a person to know the facts about the laws in the country regarding the Forex market. If you are lured into the Forex market as an individual you should try to get out as quick as you can because you can be put into prison. If you are a corporation then you should only look for local Forex brokers as foreign brokers may be scams or not tell you the whole truth about the situation in India. They also might not be aware of the local laws in India of it being illegal as well. This happens because not every country counts Forex trading as illegal. Thus you should look for a native Forex broker to help your corporation start the process of Forex trading as they will know more about the laws in the country.

 

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