Is OctaFX legal in India?
Yes, OctaFX is legal in India. According to the broker's website, it is fully compliant with international legislation and allowed to operate worldwide.
OCTAFX INDIA PRIVATE LIMITED is a Private incorporated on 04-10-2019. It is classified as a Non-Govt and is registered at RoC-Mumbai. Their state of registration is Maharashtra. Its authorized share capital is 1000000.00 and its paid-up capital is 1000000.00.
OctaFX, the official trading sponsor of Indian Premier League (IPL) team Delhi Capitals, is one of the many unauthorized digital platforms under RBI's scanner for offering forex trading.
MT4 & MT5 platforms supported. OctaFX is regulated by CySEC and SVG FSA.
OctaFX is a SEBI registered forex and crypto trading platform that has recently become a popular choice for Forex traders in India due to its low spreads and fast execution.
Is OctaFX Safe? OctaFX is considered high-risk, with an overall Trust Score of 67 out of 99. OctaFX is not publicly traded and does not operate a bank. OctaFX is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust).
Forex and currency trading in India is legal but failure to adhere to authorised brokers or permitted currency pairs is a penal offence under FEMA. If you are interested in online forex trading in order to make your portfolio a diverse one. make sure you check the broker's credentials.
No, OctaFX offers negative balance protection, so whenever your balance becomes negative, we automatically adjust it to zero.
Georgios D. Pantzis - CEO / General Manager @ OctaFX - Crunchbase Person Profile.
Limits for withdrawals: Skrill, Perfect Money, Neteller—from 5 USD (5 EUR), without the maximum limit. Bitcoin—from 0.00096 BTC, without the maximum limit. Mastercard—from 50 USD (50 EUR) or the equivalent in other currency.
Why is forex not allowed in India?
However, forex trading is held legal when one does it through specified foreign exchange trading platforms and the base currency is INR (Indian Rupees). Simply put, the Indian Government has limited trading for Indian residents to only trade currency pairs which are bench-marked against INR (Indian Rupee).
Make a deposit
At OctaFX, you can start trading with a minimum of $25. The minimum deposit can vary depending on your region and the payment method.
- OctaFx – Best for Indian audience.
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- FXTM – Best for fast trading platforms.
- eToro – Great for multiple trading assets options.
- XM Forex – Demo account with $100,000 of virtual balance.
- iForex – Great for one-click deal execution.
Yes, all the different types of MetaTrader work in India, be it MetaTrader 4 or 5. And, if you are concerned about the legality of the technology, MetaTrader 4 is legal in India. You can use it to trade forex, stocks, and commodities.
Forex Trading Illegal In India
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.
Georgios D. Pantzis is the CEO / General Manager at OctaFX .
- OctaFx – Best for Indian audience.
- Olymp Trade – One of the most trusted.
- FXTM – Best for fast trading platforms.
- eToro – Great for multiple trading assets options.
- XM Forex – Demo account with $100,000 of virtual balance.
- iForex – Great for one-click deal execution.
Yes, all the different types of MetaTrader work in India, be it MetaTrader 4 or 5. And, if you are concerned about the legality of the technology, MetaTrader 4 is legal in India. You can use it to trade forex, stocks, and commodities.
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.
