ilmscore | Prediction Details
"As discussed earlier, the RBI is not infallible; they know everything. If you make any transaction directly from your bank account, outside India or in any other currency, with a forex broker, your bank account can also be frozen. Tell me what all can happen. If I am a debt person and I do not use crypto, I say no, I will deposit money only from my bank account. What can happen to my forex broker? Your bank account can be frozen. Your funds can be stopped. And another thing that can happen is that you can also be fined. You can also be fined because you are regulating and violating the FEMA Act. You can also be fined and you can have to pay three to four times more than the profit you are not making as a penalty. Okay, so keep this in mind that all the people who trade in forex, if they deposit money directly from their bank accounts, then look, brother, even your bank account has been frozen once. It was just because I deposited money directly, and some of my friends' bank accounts have also been frozen for $0.000. So don't think that if I deposit a small amount directly, nothing will happen. Depositing money directly from a bank account into a forex broker directly violates the FIMA Act."
By Trade with Purab | October 5, 2024 | Pending
From video
How to Trade Forex - LEGALLY | Trade with Purab @acetradingofficial 00:08:23 - 00:09:25
Interpreted Prediction
Directly transferring money from an Indian bank account to a Forex broker outside India is a violation of the FEMA Act and can lead to severe consequences, including bank account freezing, fund seizure, and fines of up to three to four times the profits not made.

Prediction Details

Topic
Risks of Direct Forex Trading from Bank Accounts

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