How to do Forex Trades in Indian Share Market Legally

Doing Forex trades if the currency pair doesn't have INR is illegal as per FMCA act and it is also a non-bailable offence!

On 13th March, On grounds of Brexit, GBPUSD buying was a trade with a high probability of success. Then how to buy GBPUSD in Indian Market?

It is easy.

Buy GBPINR futures.
Short USDINR futures.

It literally translates into - GBPUSD buy.

Here is easy math to do this on the head -
GBPINR buy + USDINR sell
= GBP - INR - (USD - INR)
= GBP - INR - USD + INR
= GBP - USD
= GBPUSD buy

Image before the trade -
unofficedforum.s3.du...7e31a67c6fa24d31.png

Image after the trade -
unofficedforum.s3.du...a1f632479e6eb90f.png

There is one more magical fact here - There is no COC as it is being negated by the effect of Buying a future and Shorting another one.

See you on the other side!