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Forex/Currency

The Forex and Currency market attracts approximately $5.2 trillion daily volume. This market is internationally accessible 24 hours a days. It is an important part for retail investors because of its low margin requirements and lower entry hurdles.

  • Trade across futures.
  • Future and Options available.
  • Small Margin requirements
  • Controlled Regulation.
  • Diversification of portfolio.
  • Hedge against risk.
  • Invest, Trade, Hedge, Speculate.

Why choose RKFS for Forex/Currency Trading:

  • Leverage.
  • Forex trading experience that is secure.
  • Personalised Advice.
  • Efficient risk management.
  • Advisory.
  • Portfolio Restructuring.
Why choose RKFS for Forex/Currency Trading
Other charges

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LATEST BLOGS FOREX/CURRENCY

FOREX/CURRENCY FAQs
Do I need to open demat account for currencies?

No

What are the market timings?

9AM - 5PM.

What are the lot sizes?

USD-INR – 1000 Dollars, EUR-INR - 1000 Euros, GBP-INR 1000 GBP, JPY-INR – 1,00,000 JPY.

When is the contract expiry in currencies?

2 working days prior to the last business day of the month.

Can I take delivery in currencies?

No

What are the pairs in currencies?

Foreign exchange or Forex is the simultaneous buying of one currency and selling of another. Currencies are traded through a broker or dealer and are executed in currency pairs. For example: the Euro and the US Dollar (EUR/USD) or the British Pound and the Japanese Yen (GBP/JPY). The Foreign Exchange Market (Forex) is the largest financial market in the world, with a daily volume of over $4 trillion. This is more than three times the total amount of the stocks and futures markets combined. Unlike other financial markets, the Forex spot market has neither a physical location nor a central exchange. It operates through an electronic network of banks, corporations, and individuals trading one currency for another. The lack of a physical exchange enables the Forex market to operate on a 24-hour basis, spanning from one time zone to another across the major financial centers. This fact – that there is no centralized exchange – is important to keep in mind as it permeates all aspects of the Forex experience.

How much money do you need to open a forex account?

You can start with as little as 10 dollars.
To trade in Forex, you will need only a currency trading account and a bank account. DEMAT account is not mandatory since there is no delivery of currency.

How long does it take to open a forex account?

You can now open a Forex account instantly by applying online.

How do you get your money from forex trading?

You can receive the money from Forex trading directly in your bank account.
Raise a withdraw request to your broker and add your bank account details. The money will get credited to the source of payment.

How do I fund a forex account?

Login to you trading page and select the option to add funds.

Do you need a bank account for Forex?

YES.
For Forex trading having a forex trading account is mandatory and so is a bank account. You can link the bank account to your trading account for faster fund transfers.

Do you need a license to trade Forex?

YES.
Unless you are trading in bulk, retail investors don’t need a license to trade in foreign exchange. However, in India, forex trading is highly restricted and heavily monitored. You are allowed to sell only in currency pairs approved by RBI through a SEBI listed broker.

Is DEMAT account required for forex trading?

DEMAT account isn’t mandatory for Forex trading since there is no delivery of currency like equities. Instead, you would need to open a Forex trading account. You can now open a Forex trading account in India with SEBI registered brokers.

How long does it take to withdraw money from Forex?

You can place a withdraw request from your broker’s website and receive the amount directly in your bank account. The Internet has made the withdrawal process smooth and quick.

What types of documents do you except for identity verification?

The following is a list of approved documents for identification:
PAN Card
Aadhaar Card
Passport
Voter ID
Driver’s License
ID cards issued by central or state government.

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