By Johnny Smiths
Forex trading is a global market and although it may be classed as gambling in some countries and illegal, forex trading in India is very legal and becoming a popular legitimate method of making money online.
The Rupee is a highly protected currency and because of this exchanging it has many restrictions. These restrictions have recently been relaxed to accommodate the financial markets to help benefit the economy. Although forex trading is legal it can be restricted to certain currency pairs making profiting a little bit long winded with the slow moving Rupee.
Forex trading in India is no different from trading anywhere else in the world; the market is open 24 hours a day for 5 – days of the week. Anyone in India can be a part of the trillions of Dollars that are traded on the forex market every day, giving any Indian resident the opportunity to be a part of this huge global market.
The restrictions may limit the currency pairs that you can trade through an Indian spread betting company but it does not limit anyone that wishes to fund a managed account from India. A managed account is the simple process of opening a spread betting account for someone else to trade on.
This process is perfectly legal and involves nothing more than using a forex account manager to speculate on the forex market on your behalf. This will give access to all the currency pairs hence a more profitable trading account.
You can have as little interaction in the account as you like, simply go through the set up process with the account manager giving them limited power of attorney and they will use which ever method appropriate to trade on your account.
The benefits of using a forex managed account are fairly obvious; you do not need experience in the forex markets yourself. As forex trading is quite new to Indian residence there is a certain lack of experience in the local vicinity, a managed account can benefit from years of combined professional experience in the market place.
You do not have to worry about the market or even learn how to trade it this is all taken care of, Your simply sit back and let the professionals go to work with your money. There are no security risks with your money as you set up the account money can only be withdrawn to the bank from which it was deposited.
Although forex trading in India is slowly coming of age and it will be a welcoming day when such a huge country can finely get its teeth into the market on an individual basis. Until that day using managed accounts to take a slice of the huge amount of money being made on this financial market is the best way to go.
Take complete advantage of the experience and expertise that is on offer and see you forex trading investments grow in the hands of a professional proven forex trader.
If you are looking to take part in forex trading in India then a forex managed account is often the best way to ensure a profitable investment.