Table of Contents
How do I file a complaint against a forex broker?
How to complain to a forex provider?
- Lodge the complaint in writing (online/offline) at the consumer care department of the concerned branch of your bank.
- If the Bank is unable to resolve the issue you may contact the Grievance Redressal Officer of the concerned Bank.
Is trading Forex legal?
Forex trading is legal, but not all forex brokers follow the letter of the law. Around $6.5 trillion trades each day on the forex markets, according to the 2019 Triennial Central Bank Survey. While forex trading is legal, the industry is rife with scams and bad actors.
Is online forex trading legal in India?
Trading forex in India through an online broker is a non-bailable offense in India. With many online brokers who misguide retail investors claiming forex trading performed legally through them. Moreover, RBI claims the restrictions are there to prevent retail investors/traders from losing big time.
How do I file a complaint against my broker or trading member?
Nice Plus, NSE’s online investor service portal, allows you to file a complaint against your broker or trading member Complaints registered with the NSE are resolved within 15 days, failing which the complaint is referred to the exchange’s Investor Grievance Resolution Panel
Is it legal to trade in foreign markets from India?
So if you are trading with Indian Brokers who have a membership with the above mentioned Indian Exchanges it is perfectly legal. And Also it is perfectly legal for Indian Retail traders to invest in overseas equity markets.
Is forex trading a crime?
Hence it is legally a crime to involve in Forex trading and the charges of the crime are imprisonment in a jail in this country. The offenseis considered immense, the prediction of intensity can be deduced from the fact that it has been labeled to be non-bailable.