Future forex trading india

As I mentioned in a recent post , Online Forex Trading is an illegal means of making money in India.

So what alternatives do Indian citizens have if they still want to trade currency? Trading Currency Futures is the answer! In this post, let us understand how to trade forex futures in India. Futures, as you probably know, is more like a contract that says that you as a buyer will purchase the underlying item contracted item at a specific price contracted price at a specific time Expiry date in the future.

Now let us move on to currency futures in the Indian context. Unlike online forex trading, all Indian nationals are legally eligible to trade currency futures in India via participatory agencies or brokerage firms e.

ICICI Securities, Geojit BNP Paribas etc These agencies offer online trading of currency futures either in National Stock Exchange NSE or Multiple Commodity Exchange MCX.

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For example, I use the ICICIDirect. Once you open an online trading account with them, you can trade popular currency pairs like in the case of online Forex trading as futures. However, at the moment, only four major currencies are traded as futures in India and they are USD, EUR, GBP and JPY.

Needless to say the other currency in the pair has to be the Indian Rupee INR and hence the four futures are USDINR, EURINR, GBPINR and JPYINR respectively. In other words, here you are playing with the exchange rates of major currencies against Indian rupee.

Currency Futures Trading | Geojit

Since the volatility in forex market is very high and the volume transacted per day is really very huge, the currency futures have the potential to make money during Intraday day trading or during a futures contract period a month.

If you want to know more about trading forex futures in India, please read the FAQs on ICICI site.

By the way, in order to make good money via trading in currency futures require you learn a little bit of technical analysis. There are a number of portals out there that gives technical trends online for free and you may watch them carefully for a few days or weeks before investing.

This is not a paid or promo post and I have myself just started currency futures trading. I am not really an expert in future trading but I see a huge online money making opportunity using this method. I would like to say, for investors searching to expand their portfolios, currency futures are a outstanding place to initiate.

Currencies are the preeminent trending marketplaces to deal, and therefore it is comparatively unproblematic to build trading policies around these markets.

Getting Started In Foreign Exchange Futures

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Ajith Prasad Edassery 6th Mar 3 Comments. Currency Futures in India Unlike online forex trading, all Indian nationals are legally eligible to trade currency futures in India via participatory agencies or brokerage firms e. How to Trade Currency Futures in India? In order to trade futures, you need to understand the a few terms related to the futures.

Typically, futures have an expiry time of roughly a month. It just means that we are talking about a USDINR future that has an expiry date of 27th March The future currency pairs are usually traded in lots of which means that one lot minimum unit of contract is USDs in the case of USDINR futures. This means, a minimum value of rupees per contract at current exchange rate. Going by this example, if you want to buy 4 lots or USDINR in futures, you just need to have around rupees Once you enter a contract via buying a future, it can be terminated anytime within the future expiry date when you think you have made a profit or stop loss.

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