Did you know that conducting forex transactions on unauthorised platforms could land you in legal trouble? The Reserve Bank of India (RBI). Compare a range of forex brokers, find the right broker for you. Assess broker services, fees, and reviews. Trading is often encouraged as an investment mode. While forex trading platforms are illegal in India, you can still trade in foreign currencies. BITCOIN ACHIEVERS CLUB

You can see only those currencies on the customer portal which you had requested the branch to load on your card. How do I know if the request has been placed or not? Once you place the request, you will see an acknowledgement page. This is a confirmation that your request has been placed. I'm not a traveller, can I still benefit from the Forex Card?

The Forex Card is only for travellers, and cannot be issued to non-travellers. What are the charges towards availing GCAS services? In case your card gets lost or stolen, all you have to do is call Phone Banking immediately and report the loss of your card. This facility is available 24 hrs on all days. You can request Phone Banking to activate your backup card.

Once the backup card is activated, all the funds from your primary card will be transferred automatically and instantly to the backup card. What should I do if my Forex Card has expired but there is unutilised balance on the card? If your Card has expired before all funds have been utilised, you can contact Phone Banking or any of our Standard Chartered Bank branch for placing a refund request of the unutilised balance.

In case you wish you get a replacement card, you can place a request at any of our Standard Chartered Bank branch. What if the balance in the currency of transaction goes down? The card has inbuilt intelligence to process the transaction if there is sufficient fund in any of the available currencies to authorize the transaction. If there is no sufficient balance in the transaction currency, the payment is processed by debiting the currency with sufficient balance.

Please note that if there is no sufficient balance in any currency then the transaction will be declined even if collectively, across the currencies, the card has sufficient balance. Please note that cross currency conversion charges will be applicable in cases where the transaction is processed by utilizing funds from different currency. Who should I contact for my replacement card? Is there a charge for replacement? You can place a replacement request either through your Relationship Manager or visit your nearest Standard Chartered branch.

The charges for reissuance are given in schedule of charges. How does the Forex Card work in Contactless mode? Look for VISA payWave mark or Contactless logo at the point of purchase To pay, place your card over the reader at close range less than 4 cm from where the Contactless logo appears Once the reader confirms that your transaction is approved, you are ready to go.

Will I be charged twice? How will I know if the transaction is successful? How can I check the balance on my Forex Card? You can check the balance on all the active currency wallets on Multi-Currency card through the customer portal. Alternately, you can also contact our Phone Banking services to check the balance on your Multi-Currency Card. Are there any transactions for which this Card should not be used? Your Forex Card should not be used towards temporary charge blocks — e.

These charges are levied by the ATM service provider over and above the charges levied by the Standard Chartered Bank, and Standard Chartered Bank has no control over the charges as these charges are not levied by Standard Chartered Bank. These charges are normally displayed to the customer during the transaction and the customer has the option to either proceed with the transaction or abort if the charges are not acceptable to the customer. If the transaction is done in base currency currency with which the card was loaded , there is no exchange rate applicable.

How can I view the transactions I did with my Forex Card? You can view the transactions using the Customer Portal. Traders will also be required to submit proof of residency document not older than three months.

One must be aware that these documents are required for withdrawals from your invested amount on the platform. Once the documents are submitted, the verification is processed, which generally takes a week. Submitting valid documents helps the platform to check for any fraud statement or scam, and users can perform their trades with a reliable broker. If you are a first-time trader, you can contact the customer care team to help you with the registration process if you search for the same.

Please note that there is no brokerage fees involved with opening the account, just the spread it operates. One such new trend that iForex brokers are picking momentum is cryptocurrency. At the time of inflation or market uncertainty, traders can also invest in contract-based tradable goods to minimize their risk.

Precious metals also share the same league of operates on the iforex trading platform. Other than these tools, iForex brokers are also popular for investment articles in forex trading. Sign Up Now iForex Leverage Leverage of up to is offered when trading forex and commodities, while leverage of is available when trading CFDs. Traders can use maximum leverage to investigate large money transactions with a little initial commitment.

Although leverage might potentially improve benefits, it can also raise risk and potential losses. The spread, on the other hand, generates a profit. Although spread is competitive, there is no reduction for bigger trading volumes while you trade forex. Spreads might differ later, as we learned in the review. There is no deposit fee or deals charged at the first and any other subsequent suitable deposit. After a minimum trade of 0. As mentioned before, iForex is a regulated broker that does not charge any fees on the withdrawal process.

With digital technology growing every day, iForex brokers support money transactions with a debit card, credit card, and e-wallets, even for the segregated account. Traders can also pay fund through different platforms like PayPal, Skrill, Alipay, and Neteller with third-party charges on trade. If you are a new client with no market experience, iForex offers you a retail 1-on-1 online training program.

It is also the manual traders guide on newcomers. The second promotion is the Pro package that includes 1-on-1 training on popular CFDs. Another promotion offered by iForex is a refer-a-friend option. Sign Up Now iForex Loyalty Program When you have been into forex trading for many years with iForex, there is a chance that you might become part of the loyalty program.

The loyalty program is majorly for those investors who have been committed to the forex brokers for years and have made a good number of investments in currency trading and other service. These traders keep a look at the trading signals to analyze the markets and eventually, not lose money. Once you become part of the loyalty program, you are rewarded with much bigger bonus points that can be used in the trade.

Formula investment house ltd also rewards you with trip coins in a loyalty program that can be used to travel for selected airlines, so you lose nothing. Resources Offered by iForex Knowledge and operation about the markets are not enough for successful trades and earning profits in the forex market and other CFDs. There are lists of resources required to evaluate the trading conditions page in your favor. These charts help in reading the bearish and bullish zone of currencies and other CFDs.

Once you create an international fixed interest account, you can avail this resource. Financial News to Analyze Trading Conditions Whether you access the iforex mobile version or the site, both portals have included the latest financial news that has a huge impact on the volatility of the market. This helps in the analysis of companies when economic growth is working or against the assets you invest. Regulators You will also find all the license and regulation-related resources when you trade with iforex website and mobile app.

The broker is regulated and licensed by Cyprus Securities and exchange commission, cysec. It is advised to the users that do not make any iforex minimum deposit to the broker if they are not convinced with the regulation terms and accounts information. One must actively use the trading account once they are completely satisfied with the licensing terms. Sharing regulation and licensing information is a must of any and every forex broker.

We learned that from the iforex review. Market Forecast Under licensing formula investment house, the broker offers a forex signal provider, as we learned from the iforex review. When you have a real trading account, forex brokers help you provide information regarding hour intraday and trading signals based on companies movement and currencies.

These signals help in making the right decision in the market, and users lose minimal money.

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In addition to that, the internet sources are quite full of the complaints and negative reviews from the traders that engaged in the trading with iFOREX. However, iForex has no mention of complying with any Indian regulators on its website.

It is also worth mentioning that Forex trading is actually prohibited in India. As per the U. So, except for IQ Option, you are only permitted to trade with the U. S regulated platforms. To make a withdrawal, users must fill out a withdrawal request form. Withdrawals can take up to 28 working days to be processed, depending on the clearing solution trader funded his account with.

Such a long period for the withdrawals obviously causes a lot of complaints from the clients. Demo Account A demo account is available to users but only once a real trading account has been activated. Occasionally, there are cases of some adverse and severe price fluctuation in the market, which brings considerable losses in the trading account and causes a negative balance in the account.

Although it happens rarely, it is good to have negative balance protection for your trading account. Check out the other online Forex brokers accepting Indian clients. Is iForex regulated in India? However, iForex is one of the trusted brokers with clients from all over the world.

It has a dedicated telephone number and website for its Indian clients. It is one of the trusted Forex brokerage company with thousands of satisfied traders using its Forex and CFD trading services. If you are looking for a trustworthy international online Forex broker with decades of excellent track record, then iForex is one of the best. Can I trust iForex for Forex trading?

It has thousands of clients all over the world, including India. Is Forex trading with iForex profitable? Well, Forex trading is not profitable for most of the traders. Only a few traders make money while trading Forex. It depends upon your trading skills to make a profit. You will lose money if your market analysis is wrong.

You make a profit if your market analysis is correct, and the trade is in your favor.

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