Disadvantages of Forex Trading in India over Currency traded Internationally

• Indian Currency Trading market  is 9am to 5pm market.  Market is only open for 9am to 5pm That means you can take action (Buy or Sell) in between this  time only. This is mxs-sx market. You will get more details through the web-site www.mcx-sx.com
• Indian brokerage – Forex market in   India takes brokerage charges starting from 10 rs to 50 rs per lot.  Also along with this other charges are included (Service tax+ surcharge +other). Which is really high.
• For most of the brokers trading platform is Diet-Odien or Java based application. Which not yet fully functional.
• Above mentioned Software application is not yet competitive with respect to the international broker software, following are some of the limitation-

- You can not put multiple trades at a time. That means putting Buy Stop/limit & Sell Stop/Limit is really complex.
- Does not have the advanced indicators like – Echimoikhu, Pivot, Remaining candle time
- also drawing the trend line & other price actions pattern on the chart is not that way easy.

• Not an easy way to access your account details directly, that means you need to login to the back-office through the web-site OR need to call your customer care to know the money status & to add, receive money from your currency trading account.
• Software platform is not stable you will see unexpected move in the candles (Very high candle bullish/very low candle bullish) . Software is hung and need to restart your system.
• The software updates are not that way easy to install. Need to contact customer care and then they will install the modified
• There are very few brokers that offering very good customer care services, whereas for others it is just like commodity & equity ..yet they have not understood the importance of currency trading.
• So choosing a reputed broker is headache. Because as per human tendency we do not change the broker as we are rigid to change our mind and switch to other broker services.
• Yet there is not a stable platform to trade using Mobile.