HOW CAN I TRADE CROSS CURRENCY EXCEPT INR IN INDIA?
Most of the investors in India are mistaken about cross-currency trading's illegal. But you should know that the Government of India has approved the trading of three cross currency pairs, i.e. (EUR/USD), (GBP/USD) and (JPY/USD). Hence, ignore the false claims on cross-currency trading and start investing in currency markets.
The Reserve Bank of India has introduced exchange-traded currency option contracts in EUR-INR, GBP-INR and JPY-INR pairs. But before trading the cross currencies, you should be aware of the market strategies and other market trends as they will help you make your investment successful.
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REQUIREMENTS & CRITERIA FOR CROSS-CURRENCY TRADING:
Before investing your valuable savings on the cross-currency pairs, analyze the criteria that should be taken into consideration:
- Resident Indians and eligible NRI's are allowed to trade options trading in USD-INR cross currency pairs.
- Market participants can take positions in the exchange-traded currency future and options segment without any underlying exposure.
- The exchanges would probably limit the positions of the market participants.
- You are allowed to perform the trade with the help of a SEBI registered broker.
- Before investing in the currency pairs, analyze the performance of the cross-currency pairs as it is dependable to fluctuate.
- Cross-currency pairs are associated with a high-risk factor.
Follow the mentioned criteria as it would help you to make your trade successful in currency trading.
HOW TO TRADE CROSS CURRENCY PAIRS?
In this blog, we will discuss how can an investor trade cross-currency pairs in India. An investor can perform the trade in two ways:
1. TRADE THROUGH STOCK EXCHANGES:
In India, an investor can trade the currency pairs in stock exchanges like NSE, BSE and MCX-SX. You can buy or sell the currency pairs in the forex market through the stock exchanges. Cross currency futures and options contracts are also available for trading in the currency derivative segment. While choosing the currency pairs, you should analyze all strategies to fetch better profits from your investment.
2. TRADE THROUGH SEBI REGISTERED BROKERS:
If you opt to perform trading with the help of trusted brokers, you can sit back and relax as they can play well with you in the market. Yes, having years of experience and loads of trading knowledge, a broker can perform cross-currency trading in a promising way. The brokers charge a fee for their work but think you're paying them a small part of your profits. The broker looks after your trading documentation and performs the trade effectively in the stock exchange.
INVESTING IN CROSS-CURRENCY PAIRS:
If you feel that trading cross-currency pairs is a risky option, you miss out on the golden opportunity available here. Every trading service has a variable risk exposure in the market, but you can overcome the risk exposure in currency trading by analyzing the market and currency performance. The profits you fetch in the currency market is comparatively higher as it depends on the value of foreign currencies associated with it.
Invest your savings with 500 per crore as they can guide you to choose the best currency pairs in the exchange at the lowest brokerage fee. When you trade with 500 per crore, you can enjoy exciting trading benefits with exceptional customer support.
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