Many people have the misconception that Forex Trading is illegal in India. While the truth is that the RBI has restricted the trade in any overseas margin trading segment, people can still trade with currency pairs involving INR (Indian Rupees) in a completely legal way. The four currency pairs allowed in India are USD-INR, GBP-INR, JPY-INR, EUR-INR. The false belief that Forex Trading is illegal in India has led to many people thinking that Forex brokers are part of a scam. Some people directly believe that the broker 70 Trades is a scam. Today, we are here to tell you that 70 Trades India is not a scam and we will show you how to take advantage of all the tools this broker has available so that you can become a Forex expert in no time.
70 Trades India
70 Trades is a website which acts as a forex broker. You can register for free, by just opening an account and making an initial deposit. 70Trades allows payments in VISA, VISA ELECTRON, MasterCard, Maestro, Skrill, Neteller, EcoPayz, Yuupay, and MoneyNet. Regardless of your level of expertise, 70 Trades offers and advise section in which you can select your current knowledge: beginner, experienced, or professional. You can also indicate what kind of trade you are interested in, whether it’s primary products, gold, or even oil, and the video lessons will help you get on track.
70 Trades India: Finding a reliable and reputed broker
When looking for a broker in India, it is essential to make sure that the broker you will select one with verified RBI authorised banks. Otherwise, you could end up losing your money. Besides, you want your broker to charge very low commissions, eliminate unnecessary intermediaries, offer flexible lots, and allows you to choose the size of your operation. 70 Trades India not only offers all those previously mentioned benefits but also it has a 24 hours schedule. From Sunday night until Friday afternoon you can operate at any time of the day. Additionally, you enjoy the benefit of leverage, high liquidity, micro and macro trading.
Opportunities in Forex with 70 Trades India
Same as stocks, you can trade currencies based on the prices you think the coins will have in the future. However, with Forex, if you think a coin will go up in price, you can buy it. If you think your price will fall, you can sell it. For example, if a country’s currency is devaluing and you believe that trend will continue, you will then be able to sell those coins for another currency, say, the US dollar. The more that coin is devalued compared to the dollar, the higher your profits will be. 70 Trades India offers you the opportunity to learn how to predict these behaviours and invest based on the market. If you feel like you are still not prepared to start trading for real, 70 Trades offers you the opportunity to open a demo account and practice to improve your trading skills, before you move in with the big boys and start making lots of money. It is definitely the best way to go.