FOREIGN EXCHANGE IN INDIA

WHAT IS THE INITIAL DEPOSIT? – ILLUSTRATION FOR TRADERS OF FOREIGN EXCHANGE IN INDIA

Now as a participant of Foreign Exchange in India you possess enough theoretical knowledge about it, understand excellently how this process is exercised, know the meaning of all the terms, regarding Forex. You have even had some surface investigation in the sphere of analysis methods. Moreover, you have more or less practiced Forex trading through opening a demo account. Now, it seems to be the exact moment for you to deal with real money, trying your hand in this unpredictable world. What you need for diving into the world of Forex in India is to do an investment, the amount of money you are going to fund in your account for trading.

The minimal amount of deposit differs from one brokerage company to another. While choosing a brokerage company this point is to be paid much attention to. The lower the minimal deposit is, the less risky your transaction will be. From this point of view, IFC Markets makes an optimal offer. You can start trading with only 1USD, if you have chosen the Beginner account type. As for Standard account type, 200USD is the minimal amount of investment. Besides minimum initial deposit, every brokerage company establishes its maximum investment. Thus, the maximum amount of deposit set by IFC Markets is 3000USD for Beginner account type and Unlimited for Standard account type.

After determining the investment amount, you face the process of choosing the payment method. IFC Markets supports the following four Payment Methods, from which you can choose the one that best corresponds to your preference:

• BANK TRANSFER 
• CARD PAYMENT 
• WEB MONEY 
• LIBERTY RESERVE

All these investment methods are also available for traders of Forex in India. Any Indian trader is able to transfer his deposit via one of these methods without any difficulty.

RALLY TRADE

13 days left. I am in a hurry to inform you that the start of the contest in IFC Markets is gradually approaching. It will be held from December 4 2012 to December 28 2012. The rules are straightforward: register for the contest from 20 November to 3 December, open a new Real account, fund it with 100USD and you are already the participant of the contest. The transfer can be realized through regular deposit methods or via internal transfer from your another NetTradeX account.

A contestant with the largest trading account balance will be recognized as the first place winner. The same criteria will be applied for other winners taking the rest of the winning places (1-5).

The prizes:

• 1 place: $1500
• 2 place: $1200
• 3 place: $1000
• 4 place: $700
• 5 place: $600
• The special Company prize: $500

Good Luck to you, dear traders!

                                   

FOREX IN INDIA

FOREX IN INDIA: SIGNS STIMULATING TO PASS FROM DEMO TO REAL TRADING

Actually, anyone who is intending to become a participant of Forex in India starts his way from opening a demo account and trading with virtual money. Demonstration account serves somehow as a field for gaining skills. Trading in the current field is safe because of the absence of real risks. Besides, in this case your emotions are stable and you are not worried about suffering losses. However, this state cannot proceed forever. Eventually what is the meaning of earning virtual money? They are just figures without any essential significance. So, if you open a demo account, sooner or later you will pass from the demo field to the real one. But what are the signs that it is high time for you to pass to real trading?

1.      You have had more profitable transactions ever since than unprofitable ones

You should try to make profits from your transactions, moreover they should be stable. Here the amount of earned dollars is not so important as the percent of the profits from all your transactions is. Overall, 6 transactions from 10 should be favorable. In case of recording such an index, you may already consider about passing to real trading.

2.     You are able to manage your capital properly

The management of the volume of the position is one of the main factors for success. Of course there is no definite strategy which will result in 100% profitable transactions. There would be some periods when losses are just inevitable. That is why it is necessary to choose a trading volume in a way that losses are not considerable and the profits are significant. This is considered to be the aim of any risk management methods.

3.    You already control your emotions

Emotions play a very important role for any trader of Foreign Exchange in India. So you should learn how to control them. It concerns losses as well as profits. Suffering losses should not serve as a cause for disappointment. After all they are natural. What you should pay attention on is that your profits exceed losses. Successful transactions also require being controlled; otherwise you may run into euphoria.

Connected with dynamic movements in the sphere of Forex in India, more and more Indians get interested in various nuances regarding Forex trading. So, these signs can be used by any participant of Foreign Exchange in India while deciding to become a real trader.

Happy Diwali

A great enthusiasm and livelines at all corners of India. People passing through shops and buying different kind of decorations and candies. Streets full of festive spirit. The Diwali great festival is going to be celebrated during the upcoming five days. Tomorrow all the houses and workplaces will be decorated with tiny electric light or small oil lamps. Bowls of water with candles and flowers floating on the surface are also popular decorations. People will exchange all kinds of candies, wishing a sweet and happy life to one another. Have a nice day, dear India!

Hello India

After a little break, I am again with you, ready to share my experience and recent investigations in Foreign Exchange market. From this time on our blog will also contain some information about all the global events which will this or that way affect the Forex market. Other innovations are ahead. I hope that my blog will be a great help on your way of becoming a Forex trader. Wish you further achievements in this unpredictable world! 

Happy Gandhi Jayanti

Mr.Murali : Foreign Exchange In India

Taking into consideration the increasing popularity of Indian Fx market, the other day I decided to interview one of the most successful traders in this sphere, Mr. Murali, intending to illustrate the way he passed before becoming such a successful trader.

-       Hello, Mr. Murali, how are you?

-        Fine, thanks, preparing to satisfy your curiosity regarding my success.

-        I know that you have a great success in currency exchange market. From what source did you get aware of the existence of the current means of earning money?

-         To tell the truth, I have always come across that term “Forex” everywhere in Internet, in the street on the signboards, etc.. Maybe I would never have a notion about how to earn money through currency exchange, until once one of my colleagues told me how much profit he had made, possessing only $100. First I thought that it was something like a roulette game, and then my colleague noted that the only thing that unites Forex trading and roulette game is that in the core of both of them lies a risk. In other aspects they are different, particularly Forex trading requires a close study.

-         So, when did you decide that earning money this way is the best choice for you?

-       I was working in a financial company with quite low salary. Once thinking over how to increase my welfare, I remembered my colleague. Ringing him up, I told him that I was interested in currency exchange market and asked him to give me some instructions how to start that peculiar kind of business. He lent me a Forex manual, recommending to go deep into that world before becoming a trader.

-         How much time did it take you to gain deep knowledge about Forex trading?

-        It took me six months. My initial step was to grasp the theoretical part of Forex trading. However I had a feeling that basing only on the theory will not be a reasonable decision, some practice is just obligatory. So I opened a demo account and started to trade with virtual money.

-       I see we are gradually approaching the main point. When did you make the first notable profit?

-        After a year of making some slight profits and suffering many losses I finally recorded a really great profit. My initial deposit being $200, I made a profit of $2000. This was followed by greater and greater profits, until I realized that my financial means are enough to absolutely satisfy my needs.

-       So, what would you advise to those who are still hesitating about becoming a participant of Indian Fx market?   

-        I would advise them not to be afraid of failures, they are inevitable, I assure you. Take a risk, be confident and never give up. Success is ahead.

FOREIGN EXCHANGE IN INDIA: AN EXAMPLE OF SUCCESS

FOREIGN EXCHANGE IN INDIA: AN EXAMPLE OF SUCCESS 

Once traveling by taxi from Delhi to Mumbai on a business trip regarding currency exchange, I got acquainted with the taxi driver. For time being too much before reaching Mumbai, an intimate and pleasant conversation was struck up between us. The taxi driver was complaining of not having enough financial means for living a well-to-do life. Then a question conceived my mind:

-          Look here, Dippek, what would you do in case you had $100 000?

-          I would invest it in the bank, enlarging the amount of my money due to percents.

His reply made me realize that he was not aware of bank percents not being a source for increasing the income. This is one of the most widely spread misconceptions about making big money. So I wondered if he had any notion about currency exchange. I had a long educational conversation with him, introducing all the details of foreign exchange market, particularly about Indian Fx market. I told him how rapidly it is spreading through the country and how many real successes have been recorded by Indian traders. At the end of our conversation I gave him a Forex manual and left my visit card.

 A few days later, overloaded with work, I had almost forgotten about the taxi driver, when the latter rang me up. Honestly speaking, I was agreeably surprised to know that he had been so much interested in Indian Fx market that had already opened a real account. But what made me more surprised was that without having any previous experience he had made a profit of $1500, the initial deposit being $200. By all means it was the result of luck. In order to insure him from further notable losses, I advised him to go deep into all nuances of Forex trading, studying all analysis methods and indicators. Seven months have passed since that day. Today Dippek is one of the most famous and successful traders in Indian fx market.

PRACTICAL STEPS: CURRENCY EXCHANGE MARKET

WHAT DO YOU NEED TO DO BEFORE  PASSING TO FACTUAL TRADING?

Since Foreign Exchange in India is newly developing, Indian traders often face real problems on their way to open an account and to start trading. The main reason lies in the lack of information. So I would like to describe the pre-trading activities in a sequence so that traders know exactly the steps following each other. Gaining my experience in trading with IFC markets the information I am going to convey will mainly refer to IFC markets conditions.

• So the very first action you need to take is to choose between two trading platforms that IFC markets offers to its costumers – NetTradeX or Metatrader 4. Though Metatrader 4 is one of the most popular platforms in Fx market, I would suggest you to use NetTradeX because of being a new generation trading platform, designed and developed by IFC Markets. From my personal experience I have come to the conclusion that this platform is operating excellently, offering a broad range of trading and account management solutions for various financial instruments.

• This is followed by choosing between Beginner or Standard, Micro or Standard account types respectively for the above mentioned platforms. 

• Now you should download the platform and for opening an account you need to follow the instructions

• Opening an account does not yet mean that now you are free to trade. It should be activated. The activation process is simple. You just need to send the copy of your ID document by filling in this webform Email to IFC Markets. As for ID document it can be a passport or a driving license. Such documents as Pan card or voter ID card, widely spread among traders of Forex in India, also completely suit for opening a real account.

• After your real account is activated, it is right time for you to choose among four deposit methods  offered by IFC markets. IFC Markets offers the following four deposit methods in order to trade in Foreign Exchange in India: Bank Transfer, Card Payment, WebMoney and Liberty Reserve. Regarding the withdrawal methods, you can withdraw your money the same way as you deposited it.

It’s done. 

Now your way is open to become a participant of Fx market. Wish you a lucky and fruitful   trading.

                     ............................................................................................ 

IFC Markets does not have any branch office in India right now. However this fact cannot serve as an obstacle for traders of Forex in India to trade with this brokerage company. Regardless of the distance any Indian is free to contact IFC Markets through a range of contact methods. The managers will surely provide you with any kind of valuable information.

FOREIGN EXCHANGE IN INDIA

THE POPULARITY OF FOREIGN EXCHANGE IN INDIA

The Foreign Exchange in India is growing very rapidly. This tendency is mainly connected with the fact that the annual turnover of the market in India is $400 billion. According to recent data the average monthly turnover in the sector of Forex India is $174.4 billion.

The main participants in the Forex India are buyers, sellers, market mediators and the Monetary Authority in India. The major centre of Foreign Exchange in India is Mumbai, the commercial capital of the state. Among other forex centers are such major cities as Kolkata, New Delhi, Bangalore, etc.. Foreign Exchange Dealers Association together with Reserve Bank of India and Brokerage companies are designated to regulate Foreign Exchange in India. The most popular currency pair Indians are used to trade with is USDINR. Unfortunately, IFC markets does not provide its traders with this currency pair, instead you will be given an opportunity to trade with the most widely known EURUSD/USDCHF/SURGBP and much more.

Nowadays, more and more Indians are trying their luck in this fluctuating sphere and for thousands of them Fx market has served as a very effective instrument to become a successful trader.