If you’re asking can forex trading be done in India, the answer is yes — but only under strict conditions set by the RBI and SEBI. Indian residents are legally allowed to trade INR-based currency pairs through SEBI-registered brokers on Indian exchanges like NSE, BSE, or MSEI.

Yes, Forex Trading Can Be Done in India – Legally

You can legally trade the following INR currency pairs:

• USD/INR
• EUR/INR
• GBP/INR
• JPY/INR

These pairs are available via currency futures and options, not the spot forex market, and must be traded through Indian platforms.

Where To Trade Forex Legally In India

Use SEBI-regulated brokers with exchange access:

• Zerodha Kite
• Upstox Pro
• ICICI Direct Markets App
• Angel One App
• HDFC Securities

These platforms route orders through NSE or BSE, making them compliant with RBI guidelines and FEMA (Foreign Exchange Management Act).

What Is Not Allowed

You cannot legally trade:

• Non-INR currency pairs like EUR/USD or GBP/JPY
• With offshore brokers like Exness, OctaFX, FBS, or IC Markets
• Using high-leverage accounts with overseas platforms

Violating these rules may result in:

• Penalties under FEMA
• Frozen accounts
• Tax scrutiny or prosecution

Conclusion

If you’re asking can forex trading be done in India, the answer is yes — when done through SEBI-registered brokers and limited to INR-based pairs. Any other form of forex trading (especially with offshore brokers) is not permitted for Indian residents.

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