I'm asking this question because, I know that FOREX Trading in India is not legal, so is it legal if we trade options on companies like Apple or Facebook using IQ Options or Expert Options or basically any foreign broker?
No any activity that involves margin call is not permitted under Liberalized Remittance Scheme or FMEA. As Option trading involves margin calls; it is not allowed.
- Remittances under the Scheme can be consolidated in respect of family members subject to individual family members complying with its terms and conditions. However, clubbing is not permitted by other family members for capital account transactions such as opening a bank account/investment/purchase of property, if they are not the co-owners/co-partners of the overseas bank account/ investment/property. Further, a resident cannot gift to another resident, in foreign currency, for the credit of the latter’s foreign currency account held abroad under LRS.
- All other transactions which are otherwise not permissible under FEMA and those in the nature of remittance for margins or margin calls to overseas exchanges/ overseas counterparty are not allowed under the Scheme.
protected by Community♦ Aug 1 '17 at 17:08
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