Starting Forex Trading in India: SEBI, Legal Brokers, and Account Setup

If you're new to forex trading in India, the first question isn't "what pair should I trade?" — it's "how do I trade legally?" **Legal forex trading in India:** SEBI and RBI regulate forex in India. Indian residents can legally trade currency pairs that include INR (USD/INR, EUR/INR, GBP/INR, JPY/INR) through SEBI-registered brokers on NSE/BSE currency segments. **Cross-currency pairs (EUR/USD, GBP/USD etc.):** Since 2018, you can also trade EUR/USD, GBP/USD, and GBP/EUR on NSE currency derivatives. **What about offshore brokers?** Many Indian traders use offshore platforms (Exness, FP Markets, IC Markets). This is a legal grey area — RBI prohibits sending money abroad for speculative purposes under FEMA. Trade carefully and consult a CA. **Recommended starting path:** 1. Open a demat/trading account with Zerodha, Angel, or Upstox 2. Enable currency segment access 3. Start with USD/INR — most liquid Indian currency pair 4. Paper trade for 30 days before going live Where are you in your forex journey in India?