Another question about brokerage firms in India? | All About Money Online

How many brokerage firms are there in India that offer forex trading services? Reliance Money is the only company I know that runs forex business (as well as other financial businesses) in this area, and I was wondering if there are any other firms that operate in the Indian forex market besides it. If so, are they local? Are other foreign forex trading firms, most of which are based in the United States, planning to prop open the Indian forex market? It seems that they have vast interests in forex markets in Asia, including India, South Korea, and China, but are they able to operate forex businesses in India despite the strong regulations set by RBI? I have tried to form a conjecture regarding the market strategies of foreign forex trading firms on my own, but I’d like to hear what other people here think as well.

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