How to Trade Forex - LEGALLY | Trade with Purab @acetradingofficial

"The RBI has listed them all as illegal brokers. Now, in this video, we'll discuss the ways to trade Forex legally in India. There are three ways."

"Our Indian brokers, the SEBI-registered brokers, give you four to six currency pairs that you can legally trade in Indian Rupees. Okay, but the catch is that all the currency pairs are related only to IR, so only four or six options are available."

"if we talk about the forex market, the forex market is the biggest financial market in the whole world. Okay, okay, and its overall daily volume is $ trillion, its exchanges."

"the second method will be a little trickery. The third method will be even trickier. So, stay tuned for the video. Let's start with the first method. Before that, just take a minute. I'll turn on screen recording and give you the list. You'll find the link on the RBI website in the description if you want to check it out. According to the FEMA Act, all these brokers are not legal. Octa, for example, Accenture, Banam, Alpari, all these brokers are not legal. Now let's talk about the methods to trade forex legally. Let's start with method number one. The most legal, the most correct method, you tell me, brother. First, it is absolutely legal. Our Indian brokers, the SEBI-registered brokers, give you four to six currency pairs that you can legally trade in Indian Rupees. Okay, but the catch is that all the currency pairs are related only to IR, so only four or six options are available. Okay, even in those, you can trade only with IR. See what most people like to trade. What do you like? UD, EUR, JPY, currencies with very high volume. There is no option at all, that is what you mean to say, these are not options and how many options do you have in forex, well if we talk about the variety of options, there are hundreds of options, there are commodities too, there are oils, that means there are 3 or 50 such options, many people get confused, they think that forex trading involves only currencies, so one thing I would like to request you guys is that no one provides so much hard work and so much education for free, in return I will just ask for a subscribe and a like, nothing else, please support and I will keep bringing such educational videos for you for free, thank you so much guys, but you need to know that forex trading started only with currencies, after that some other options also came in it like commodities came, oil etc. came, okay, so you can trade in all these options in forex trading, which is the first legal way, he said, in this Indian brokers like I Guess Angel I also searched on One and saw that there is also Roda P. Okay, if you search for something like IR USD there, you will get a couple of options, so you can trade on them. Tell me its disadvantages. Its disadvantage is that it does not have much volume, there is not much liquidity because on the other hand, volume and liquidity. Please explain to the audience that volume means how many people are trading on that currency pair globally. Okay, look, if we go for the forex market, if we talk about the forex market, the forex market is the biggest financial market in the whole world. Okay, okay, and its overall daily volume is $ trillion, its exchanges. Now, volume means a daily volume of $6 trillion. This means that there is a daily buy and sell of $6 trillion. Okay, the simple meaning of volume is how much buying and selling is happening, how much trading is happening. Okay, now if we talk about Indian markets, even in a whole week, it does not amount to one day. That is why people trade forex because the movement is very fast. The profits and losses are also faster. Now, the first method of trading with Indian brokers. You said there's no volume, which means there won't be much movement. Usually, if we talk about forex pairs, there are seven to eight currency pairs that the majority of people trade. There's a daily up-and-down movement of 1 to 2 pence. But if you talk about currency pairs related to the Indian rupee, there's very little movement. It's simple. If you only get four or five forex options with Indian brokers, instead of that, you should trade in Nifty. Brother, do one thing. Trade in the Indian market, where you have options on thousands of companies. Trade equities there, or do FAO. Do whatever you want. Okay, it would be better. More than just four or five options where there's no volume. There's no volume, which means there won't be much ups and downs. That means there won't be much profit or loss. There won't be any profit or loss. This is the first method, which is the most legal. And this is the most correct method, but now we will come to the jugaadu methods in which you actually trade in forex. Right now this is just forex in name, there are four options, not forex trading. Now we will learn two methods of proper forex trading. Now look directly all over to you. The second method is exploiting the loopholes. Look, FEM says that you cannot exchange Indian currency into any other currency, but what if we take a broker, that is, take an intermediary, and we buy something from that intermediary. Okay, not an Apple, evolving a third party. Okay, now let me give you an example. Even if you go to rent out a flat, you do not get it directly. You go to a broker, the broker finds it for you. The broker is your mediator, and in this process, your mediator will be crypto. Okay, suppose I buy crypto with Indian Rupees and buy another currency pair with crypto. Okay, so FEM says that you cannot exchange Indian Rupees directly into any other currency. Meaning you cannot convert IR into dollars, you cannot convert IR into pounds, so in simple words, first we are adopting Rupees, then whatever we want to do with crypto is our wish, so this is their way of saying, crypto is the mediator and we can do it by using crypto, and to tell you in a little detail, see further, crypto is decentralized market, before this when FEMA Act came and the invention of crypto, that is, the invention may have happened, the first thing is is crypto legal now, yes, okay, so one thing I would like to request you guys is that no ne provides so much hard work and so much education for free, in one provides so much hard work and so much education for free, in return I will just ask for a subscribe and a like from you, nothing else, please support and I will keep bringing such educational videos for you for free, thank you so much guy, so there is taxation also and in India, even though it was not considered legal till 2 years ago, but after the imposition of taxation, it is, I mean, legal on 60-70 percent, mostly legal Actually, crypto has already been legalized, in a way, now look, Binance was banned, Binance is back, what does it mean to be back, it means the government is accepting it, right? It is legal, Binance was banned, Binance is back, with it WazirX, all this is going on, right? It means mostly it is legal, on top of that they are charging you tax on 30%, they are charging tax on capital gains, now crypto currency has been legalized, so we are converting Indian Rupees into crypto in a legal way, then we can do whatever we want with crypto, be it forex trading, now tell me about the decentralized wallet, see, crypto is a decentralized market where if we talk about Indian Rupees, Indian Rupees is regulated by RBI and if RBI has complete track, but if we talk about crypto, then no country can track it, it is a decentralized market, meaning it has no boss, in a way it has become cash in a way So, suppose you buy any crypto with your Indian Rupee, then the government has no right to know where it went, it doesn't even have any track, okay, decentralized means that there is no track of it, okay, neither you, I mean anyone else knows, third person, no one will know what you have done, right, exactly, so this is about a decentralized market, if it is decentralized then it has no boss, because of the absence of a boss, we can legally trade crypto globally, so if we buy crypto with that, that is, we buy any other currency with crypto, that is totally, then what will we do, if we want to deposit money in any exchange, then we may first create an account, but after creating the account, we will not transfer it directly from the bank account, we will first buy crypto on any exchange, let's say Bitcoin or Binance, and then from there you deposit the money in your exchange where you have a forex trading account, from there you can deposit your money in your You will also be able to trade currency pairs legally."

"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."

"The third method, which is the safest and easiest, is funded accounts. Funded accounts have a very simple principle. Let's explain with an example. Funded accounts are basically you're trading with someone else's money and making money and giving it to them, and you're keeping a percentage of it. Okay, so let's assume that there are 10 people in the US who have invested money in a firm called XY. They told us that after making a small profit, what will the company do? The company wo n't do the hard work itself. The company will find different good traders and give them small amounts of that money. And those people will invest in that money. They will make a profit and give it to you. Okay, traders are traders, and those traders will be us and you. Basically, what will happen is that the company will give you money to trade, and those traders are trading with that money, and you and I become traders. We are called funded traders who will trade with their money. But there's a catch: they wo n't give you that money directly because you have to prove yourself as a good trader. So, how will you do that? The company conducts an exam. Only when you clear that exam will you get a funded account."

"Now, that exam is n't very difficult, but it takes two steps. I'll explain those two steps to you in detail. Let's say you have a funded account of $55,000. If you want that funded account, you will have to show that you can make a profit of 5% on that funded account. Okay, and they won't give you a funded account directly. They will first give you a demo account. When you make 5% profit the first time, you will clear the first step, then the second. You will have to create the same amount of 5 on the same demo account. When you combine both to 10, you will be given an actual funded account and you will be able to trade with the actual fund."

"The identity of a good trader is profit, right? Profit, money. So, if you show the company that you have made a profit twice on the demo account, but remember, there are many complications in this. This is easy to explain, but making that profit is very difficult. Making a profit on 5 is no joke."

"Right now, if you want a funded account of $5,000, you have to pay around $100 to $50, which is $10,000 to $ 10,000. Then, when you clear the test, the company benefits in two ways. Suppose 10 people are taking the exam, all 10 won't clear it. Nine out of 10 will fail. One person will clear it. So, the company is earning money in two ways. The xam fees for those who fail also go to the company. exam fees for those who fail also go to the company. And the profit from the one who passes also goes to the company. A portion of the money earned will go to the company. So, the company is making a profit with everything. The company has to make a profit on everything. Okay, you have to keep one thing in mind: a funded account isn't just a child's play. Okay, you know trading and you have the confidence to go and clear the funded account and clear its exam. Only then should you go after a funded account. 10,000 to 12,000 isn't a small amount for us. 10,000 to 12,000 is not a small amount. If you pay 10,000 to 12,000 if you pass the exam, you'll get the account. Even after that, you'll have to make a profit on the account only then will you get anything. If you fail the exam, you'll lose all your money. You won't get a refund. There's no refund. So, if 10 people apply for the exam and fail, your money is gone."

"So, if you have confidence and a good amount of knowledge, and have backtested for a few months or a few years, only then should you apply for a funded account."