Getting started as a new investor might be daunting. Financial jargon that is technical and new might be scary. That’s where online brokers come to your rescue – those with easy-to-use platforms and a wealth of instructional resources can help you get started with investing. Almost all other currency pairs are barred from FX trading unless authorized by the Government authorities. Forex trading used to be a private activity in India that was exclusively made available to the Reserve Bank of India, other allied banks, and large financial institutions. However, with time, more individuals and smaller financial institutions started indulging in Forex transactions for global businesses and other investment opportunities, which allowed Forex trading to gain immense popularity in the country quickly.
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J.B. Maverick is an active trader, commodity futures broker, and stock market analyst 17+ years of experience, in addition to 10+ years of experience as a finance writer and book editor. Get DXtrade up and running with integration to your brokerage infrastructure just in several weeks. For example, Interactive Brokers is regulated by the SEBI and offers exchange-traded currency derivatives in India, but doesn’t offer traditional forex trading (i.e. non-deliverable spot forex) to Indian residents due to the restrictions in place for forex trading in India. In essence, forex trading involves the purchase and sale of currency pairs, such as EUR USD or JPY GBP, as opposed to other securities like stocks. The distinguishing feature of forex trading is that it involves the exchange of one currency for another. To make a profit, you would sell one currency with the expectation that its value will decrease relative to the currency you plan to buy, which you anticipate will increase in value.