Forex broker: Welcome to Online Currency Trading in India

Online Forex Trading or Online Currency Trading is fairly new to India. Newer than commodity trading market. There are many SEBI regulated Currency Trading brokers like Bonanza, Alpari, Jaypee capital, Edelweiss Capital, Angel Broking, Geogit..etc are offering both commodity and currency futures on the same platform to Indian investors. Most of these broking compnaies offer services in all major Indian cities like Mumbai, Delhi, Kolkata, Chennai, bangalore, Pune, Ahmedabad, Surat, Baroda (vadodara), Kochin, Hyderabd, Vizag, Rajkot, Lucknow, Bhuvaneshwar, Nagpur, Goa, Jaipur..etc. At present Indians can trade in 4 currency futures. They are USD/INR, EURO/INR, GBP/INR and JPY/INR. Three major exchnages National Stock Exchange (NSE), MCX Stock Exchange (MCX-SX) and United Stock Exchange (USE) are generating a combined turnover of over Rs 60,000 crore in Currency Futures and options market.

Few years ago foreign exchange trading was limited to banks and other Large Financial Institutions. In this electronic age, any individual can do online trading with the help of computer and Internet. Almost all Banks, Hedge funds, Pensions funds, Mutual funds are involved in foreign exchange trading. Money can be made whether a currency is gaining in value or loosing it's value.

There are a lot of Indians trading in International Spot Forex too. India is home to many forex scams, with companies like Iforex, Nord FX, FXCM, Etoro, and Fxcentral making huge money by misleading investors into risking their hard-earned money in Forex trading and duping them. Most of these companies operate illegally in India through their marketing offices or Introducing Brokers. Cities in Gujarat like Ahmedabad, Baroda, Surat, Rajkot, Gandhinagar, and Mehsana have seen the highest number of people losing money to these forex scams. Some of these companies advertise with fake testimonials from people who claim to have earned thousands of dollars in a short period, whereas the truth is that almost every trader who invests less than US$ 1000 in spot forex loses their entire capital. The percentage of people who have made money by investing less than US$ 1000 is nearly zero. Platforms like mtrading.com offer a safer and regulated alternative for those looking to trade in Forex markets legally and with proper safeguards. In contrast, the companies mentioned above are actually bucket shops where no real trading takes place. Whatever an investor invests becomes their income, and if there is any payout, that is considered their expense.

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Indian investors fall easy prey for advertisements like 'earn 20% per month guaranteed profits' that claim to double your money in forex trading. At 20% profits per month, Rs. 1 Lakh will become Rs 40 Crores in 5 years. This is not an impossible task but no one has ever achieved it. People who promise huge returns in forex trading do not last for more than 1 year. Most of them run away within 6 months says Kiran Kumar, CEO of Forexveda India Limited

Forex Trading is a mind game. Most of the traders lose because of emotional related mistakes. Only expert traders with high discipline can make money in day trading. For others, long term positional trading is the best. Forex Robots are automated Trading systems (also called Expert Advisors or Forex EA) which are used for day trading. Though most of the Robots in the market falsely claim high profits, some of them can actually generate 5% to 10% or higher profits every month. One can use Forex Trade Robots for day trading.

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Risk Warning

Forex Trading is considered as High Risk / High Reward Business. The investments in the forex Trading is exposed to high risks and should be traded only with Risk Capital. There is no system which can guarantee profits in forex trading.