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Why is forex trading illegal in India? That is why RBI allows Forex trading in INR based pairs, which is in turn traded within Indian citizens only.

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RBI warns of forex trading through foreign portals. RBI says a person doing forex trading with foreign portals can be punished under The Reserve Bank of India

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WHAT ARE THE RBI GUIDELINES FOR FOREX TRADING INDIA?

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Banks cautious after RBI forex directive - Times of India

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Forex trading in india rbi guidelines 2015. 14.06.2017 But margin trading in overseas is suppose to be illegal as per RBI regulation guidelines.

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RBI takes strict measure on Illegal Forex and CFD trading

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Reserve Bank of India moves to stop foreign forex brokers

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