The whole world has seen firsthand how much the Forex Trading market has grown over the years. However, for Indians the market is still lagging behind due to RBI restrictions. In India, Forex Trading is banned, but that there is no authority which monitors the online trading market. So, being an Indian trader, it is also possible to get involved with the Overseas Forex Trading market.
It is very important to find an authorized broker and use its service for trading purposes. In case the government receives the information about you being involved in foreign exchange within the country, then you will be charged against the law. Nonetheless, you are dealing with international brokers, it will be easy for you to get away with it as the Indian government has no authority over international trading services.
As an exception, the Government has provided legality to trade forex with NSE, BSE, etc. where only 4 pairs of currency can be exchanged. It includes:
Along with this, Indian traders also have the freedom to invest in equity markets. But therein lies another problem as trading overseas is also illegal as per RBI guidelines. So, you have to look for some catch that will allow you to bypass the restrictions and get involved in Forex Trading market in India.
Nowadays the Forex Market is very big. The traders can earn trillions of dollars daily. Just one blink of an eye and a huge amount of currency is transferred from one place to another. Due to the profit level of the market, buying and selling of an individual’s holdings are done on the same day and the traders earn a big amount of profit.
In the start, you need to understand the currency pairs and how they work in the market. It is a term which is mainly used in the Foreign Exchange market. Basically, the currency pair gives the relative value of a specific currency unit aligned with another currency unit. Take the example of EUR and USD. Here, we will consider EUR as the base currency and USD as the quote currency against which the units are measured.
So, when you buy EUR/USD, in simple words, you are making a purchase of European currency against the American Dollar. And when you are selling the currency pair, you end up buying the dollar against the Euro. The first occurrence is termed as long position and the later one is termed as a short position in the forex market.
You might think that the Foreign Exchange market is very easy to handle. However, it involves a lot of elements and components that are out of hands. The currency is evaluated considering various factors such as a country’s current economic condition, its monetary policies, ongoing politics, speculations, risk factors, and most important is international trade.
Let’s understand the operation in this way. When a country is improving its economy regardless of the extremities, the currency of that country becomes strong, hence attract investors from all over the world. The economic growth impacts the inflation in sustainable resources and other monetary related areas which further increase the interest rate. And the traders solely earn profit from the interest rates.
So, when a country’s economy improves, the foreign investment increases resulting in increased demand of the currency. And the cycle continues.
Apart from these factors, the forex market is also affected by risks as no one really wants to invest in a heavy risk asset. So, before you find yourself stuck in the Foreign Exchange Indian market, don’t forget to dig deeper and do proper research of the field.
Even though Forex Trading is forbidden in India by law, there is no law which regulates the dealings of binary trading. Thus, it is like grace for the traders who want to enter the foreign exchange market. so, the only thing Indians need to do to take part in the market is a simple registration or sign up on the broker IQ Option platform.
As more and more people are moving forward with the foreign exchange in India, it is used as a viable source of passive income for investors. And it’s all because of the various advantages linked with the exchange. The biggest enticement is that it is easy to learn and have the potential to give big returns.
1: Simple and Straightforward:
The simplicity of FX is the first thing that attracts potential investors. Even the concept sound so much interesting that people feel drawn to it. The traders have to follow very few basic steps to get started. Open an IQ Option account and enter the trading world with a small deposit and gradually, you will learn everything about forex.
2: Potential of Big Profits:
Who would miss the chance to earn huge reward in a very short time period? Forex Trading makes the timeframe shorter than other types of the financial markets. As you couple the exchange rate with the volatility of the market, you will realize that there is a huge potential to earn high returns. You can even get 80 or 90% profit from the amount you invest within minutes.
As a new market is developing, everyone wants to try their hand in it. Forex Trading is not the exception. There is already a massive amount of people using the IQ Option platform daily and many new users join everyday.
4: Start With the Amount You Pick:
When you investing your money in a profitable market, usually there are large amounts to start investing. FX gets rid of the high numbers. You can start off trading by investing any small amount. Then you can continue increasing it while getting more confidence using videos and support of IQ Option team.
As Indian Citizens can only gain access to forex via offshore brokers, you must be careful about who you pick. The broker should be popular, reliable, have a good reputation, and be effective in giving proven results. You wouldn’t want to fall into wrong hands while dealing your money. That’s why IQ Option is the prominent choice.
From opening an account to making transactions, everything is easier with IQ Options. You will need some identification like National ID. As an Indian Citizen, you can submit your PAN card details, driving license number, etc for verification purposes.
Regulated: The platform has legal compliance and authorization to deal with European clients. It is the International Financial Commission which regulates and makes it possible for the brokers to deal with international clients as well.
Customer Support: IQ Option has a very responsive team. You can contact them via email and resolve any query or issue you might be facing in foreign exchange matters 24/7.
Account Options: The minimum deposit is only $10 that is easily accessible for even the small scale traders. You can get Standard to VIP account.
IQ Option Demo Account: For new potential traders there is an option to try out the Demo account and trade in Demo mode. If you find the foreign exchange interesting, you can stick with IQ Option or you can leave anytime you want without losing anything.
SEBI License Not Required: As the Securities and Exchange Board of India doesn’t have jurisdiction over IQ Options, you can easily use the platform without obtaining a SEBI license.
You can practice Forex Trading in India with IQ Option without being concerned about the laws. To put down funds in your IQ Option account, you can’t use Debit card. For Indian traders, the available payment methods include Skrill, Web Money, Credit Card, AstroPay, Neteller, Bitcoin, Yandex, FastPay, and Qiwi Wallet. Even the withdrawal of the profit you made with Forex is very fast. You will have your earnings in your account within a matter of minutes.
IQ Option is giving you a huge opportunity to take chance in the foreign exchange market. With the latency to earn nice money in a short time, every trader looks forward to trying the platform. They assure that you will have a pleasant and rewarding experience in trading with IQ Option.