Can I trade forex using Octafx in India is it legal to do so?

Since OctaFX is an international company. However, the broker’s documents of incorporation allow it to offer financial services to clients all around the world. OctaFX trading is legal in India and safe for everyone. You can do trading with the help of the broker and earn profits.

Can I go to jail for forex trading in India?

In India, Foreign Exchange or Forex trading is not allowed. … Hence it is legally a crime to involve in Forex trading and the charges of the crime are imprisonment in a jail in this country.

Is OctaFX registered in India?

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.

Which forex trading app is legal in India?

Best Forex App in India – Find the List of Top 10 Forex Trading Apps

Rank Best Forex Apps
1 IQ Option App
2 XM App
3 iForex App
4 Alpari App

Is OctaFX safe in India?

Is OctaFX Safe for India? Yes, it is safe for the country’s citizens to trade with OctaFX. The broker operated advanced SSL encryption to protect the information of the clients.

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Is OctaFX regulated in India?

No, the company doesn’t hold regulations from India’s Securities and Exchange Board (SEBI).

Is forex trading banned in India?

Is Forex Trading In India Legal? It is a settled fact that no Indian citizen, as guided by SEBI and regulated by RBI in order to minimize risk incumbent in it, can undertake forex trading inside the Indian Territory through any electronic or online forex trading platform under any circumstances.

What is punishment for forex trading in India?

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.

Which forex broker is best in India?

Best Forex Brokers India

  • IG – Best overall broker, most trusted.
  • Saxo Bank – Best web based trading platform.
  • Interactive Brokers – Great overall, best for professionals.
  • – Excellent all-round offering.
  • AvaTrade – Great for beginners and copy trading.
  • Admiral Markets – Great for MetaTrader.

Is OctaFX safe?

Is OctaFX Safe? OctaFX is considered high-risk, with an overall Trust Score of 61 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).

How can I withdraw from OctaFX in India?

Select the account you want to withdraw money from on the main screen. Then press Withdraw. You will see a full list of payment options available in your region.

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Is OctaFX legal in India Quora?

As per regulation an indian citizen can only trade on broker platforms which are approved by SEBI and RBI and can only trade in INR pairs such as USDINR, JPYINR, EURINR…. Hence it is illegal to trade on octafx.