Is forex a legal business or not

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This is alright. But RBI has said that a company can trade in forex with the 8775 free dollars 8776 that the company earned as a profit through overseas profit and the company can trade in any types of pair not only XYZ / INR This is also alright.

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Ram , I am mailed RBI has received a clear statement from them that forex trading is illegal in India. They are not a law enforcement so they will not chase people. However if a complaint is made against a specific person they can take action. you logic is more on why it should not be illegal rather than what is the current situation and I dare say it is a quite misleading to people

Any one in India can trade in Forex provided by the authorized brokers in Indian stock exchanges. But their is only 9 currency pairs and the volatility of these currencies are too low. An Indian can trade with an International Forex brokers only he stays outside India and the law in that country permits him to do so.
Their are two types of Forex brokers one is Market Makers and the other one is ECN Brokers. A market maker gives you better spread and no commit ion but they have a dealing desk which will trade against you. But for an ECN broker they will charge commit ion and spread but they wont trade against you. Their are regulatory bodies in each country that regulates these brokers for example FINMA for Swiss brokers. So consult with these regulators and take a wise decision.

7) Also please say what you have filled up in the form while giving tax. Have you filled up Forex trading as a source of income ?

only oversease intraday Trading is not allowed. U can trade in India with USD, YEN, EUR & GBP with paired with INR. See that the broker should have registered number with NSE & MCXSX. Presently there are many brokers like Alpari, Angel, CDEqui, NirmalBang are providing ODIN Terminal to Traders.

I want to know whether binary options trading is legal or illegal in India. Even if I trade with reputed binary option trader like 79options and trade rush, is it illegal.

Uttam Paria,
You dont have any options because such brokers are called as dabba brokers and your trades never end in trading exchanges and they are running Forex Broking like casino 8767 s

i m not sending money to anyone outside india
m not making any payment to any of his people in india -- so no hawala
nor m sending him any money using anyway

i have doubt if a individual have dollars earned online,can he do trading with that?
because its not indian currency so if it lost or gain nothing happen to indian economy so please tell me this answer

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