Do I need to open a demat account for currency?

No, there is no compulsion. You have to open only trading account. Although Swastika provides demat account facility, if you wish to open demat account for stock trading, let our executive know.

How do you trade currency?

Trading currencies is always done in pairs. Unlike the stock market, where you can buy or sell a single stock, you have to buy one currency and sell another currency in the forex market. It is traded in different size lots. The micro-lot is 1,000 units of a currency. A mini lot is 10,000 units of your base currency and a standard lot is 100,000 units of a currency. Steps to trade in currency: Open a trading account- To get started; you have to open a trading account. You can open a free online trading account on Swastika’s website and start trading right away. Research- It's important to understand what to buy or sell and when to buy and sell. Keep a close eye on trends.

Is trading in currency profitable?

Due to low trading costs, a variety of marketplaces, and the availability of large leverage, buying and selling currencies may be quite profitable for active traders.

Which currency trading is the best in India?

USD/INR. USD/INR is the most traded currency pair in India, with USD/INR transactions making up 70% of daily trades in 2022.

What is leverage in Forex Trading?

Leverage in forex trading lets traders borrow money to make bigger trades in the foreign exchange market. Even with a small amount of money, they can control a much larger trade. This could lead to bigger profits and losses as they are based on the full value of the position.

What are the key factors influencing currency prices?

Currency prices are influenced by a variety of factors including inflation rates, interest rates, economic growth, political stability and geopolitical events.

Is it safe to do forex trading online?

The safety of forex trading online depends on various factors, including the reputation and reliability of the broker, adherence to regulations, and the trader's own knowledge and risk management practices. While there are reputable and trustworthy brokers like Swastika Investmart offering secure online trading platforms.

When is the forex market open for trading in India?

The Forex market in India is open from 9:00 am to 5:00 pm, with cross-currency trading available until 7:30 pm. However, it's important to note that liquidity and predictability may not always remain consistent during India's currency market hours.

Is forex trading legal in India?

Yes, forex trading is legal in India, but it is subject to certain regulations and restrictions imposed by the Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI). Indian residents are allowed to trade forex through authorized broker such as Swastika Investmart, within the limits set by regulatory authorities. It's important for traders to ensure compliance with applicable laws and regulations while engaging in forex trading in India.

What are the 4 major trading currencies?

The four currency pairs that are most frequently traded in the forex (FX) market are: EUR/USD, USD/JPY, GBP/USD, and USD/CHF are the four primary pairs. These four significant currency pairs are members of the Group of Ten (G10) and are deliverable currencies.

Online Currency Trading in India: Access Global Markets

Trade in Different Currencies Online with Swastika

Trade across futures & options

USD-INR & JPY-INR are the pairs traded under currency options and USD-INR, EUR-INR, GBP-INR, JPY-INR are the pairs which can be traded under currency futures.

Global accessibility

Forex market is accessible globally 24 hours a day

Controlled regulation

When trading in India, the market is regulated by the Securities Exchange Board of India (SEBI)&Reserve Bank of India (RBI).

Hedge against risk

Hedging will reduce the financial risks arising from adverse price movements.

Invest, Trade, Hedge, Speculate

Trade in Forex currency with the highly experienced and award winning team of Swastika.

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