Currency futures in India are cash settled. This means such currency trading in
India is not physically settled i.e there is no actual delivery of the currency
on expiry. When you ask what is currency trading meaning, you are most probably
referring to currency futures trading.
Currency futures are traded on platforms offered by exchanges like the NSE, Bombay
Stock Exchange (BSE), MCX-SX. Currency trading usually happens from 9.00 am to 5.00
pm. You need to open a forex trading account with a broker to do trading in the
live currency market.
You may not need to open a demat account. Nirmal Bang is an authorized broker for
currency trading on NSE, BSE, and MCX.