Nirmal BangProduct & Services

We offer a diverse range of financial services which includes institutional and retail brokerage of equity, derivatives, commodities, currency, online trading, depository services, distribution of IPOs , mutual funds, fixed deposits & bonds, dedicated desk for NRIs and institutional clients, insurance broking(both life & general), clearing services, margin financing, investment banking, portfolio management, wealth advisory & research.

Forex Trading

  • Overview
  • Benefits
  • FAQ's

Trading in currency derivatives or Forex trade as it is better known is a very lucrative investment option in India. Nirmal Bang provide our services as the retail Forex brokers to our esteemed clients on a personalized level. Our extensive research based speculations help the clients to choose the right currency to trade with and help them secure maximum benefit from the investment. Our online brokerage services are committed to provide better and faster execution of this difficult trade on behalf of the investors in the simplest manner.

As an authorized broker for NSEC, BSEC & MCXC we take a personalized approach to guide the investors in currency trade to ensure the maximum investment profits with the least risk. Guiding the investor from the upward/downfall in the currency market keeping in mind his personal interest is guaranteed through the recommendations made by our competent research team. Our team of technical analysts ensures continuous hedging of the investment risk in the trade involving currency futures. Our membership at NSEC, BSEC and MCXC helps our clients in dealing currencies to derive immense benefits by hedging their requirements. Thus, we are devoted in providing holistic solutions to meet specific needs of clients in managing all aspects of currency trade.

Salient Features of Currency Derivatives
  • Small orders can be executed up to 1 contract or 1000 USD without any additional cost.
  • Transparency of Quotes, Market Price and Price Determination.
  • Trade in the currency futures require Less Margin
  • Synchronization with International Market.
  • Less Fluctuation.
  • Low Margins.
Our Value Add
  • Access your ledger balances and account information over the internet and at the branches help desk
  • Browser and application based platforms can also be made available for commodity trading
  • Free research report subscription will help in better decision making
  • SMS services for research advice to keep you abreast with your investments
  • Regular news and updates on market
  • Allows you to choose from several customized/multiple brokerage plans to suit your trading needs

Trading with us is now simple and you merely have to open an account with Nirmal Bang and then trade in any of the following 3 ways:

  • Online – On your desktop through different trading platforms
  • Call-n-Trade (for online trading clients)
  • Contact or visit your nearest Nirmal Bang branch office to place your orders.
1. What are Currency Futures ?

Currency Futures traded on NSE-CDX - are standard contracts of a specified quantity - to exchange one currency for another - at a specified date in the future called settlement date - at a price that is fixed on the purchase date called futures price.

2. Why Trade in Currency Futures ?

Currency Futures allows investors to take a view on the movement of the Indian Rupee (INR) against other currencies.

3. What is the other Currency Derivatives Traded on NSE –CDX ?

Currently, only Currency Futures are allowed to be traded by SEBI.

4. What do we meant by Currency Futures ?

A currency forward contract is traded in the over-the-counter market usually between two financial institutions or between a financial institution and its client.

5. How does the Indian Forex market work ?

The Foreign Exchange Management Act is the law which regulates the Forex market. The regulatory authority for the Indian Forex market is the Reserve Bank of India (RBI). However, the Exchange Traded Currency Futures market is regulated by SEBI through the recognized stock exchanges.

6. What volatility have we observed in the Indian Forex market?

The period beginning 1993, when the Indian Rupee moved away from an administered exchange rate, was a period of low currency volatility. This was followed by a period of high volatility during the Asian crisis after which the period again witnessed low volatility, followed yet again by a high volatility period.

7. What is Counter-party or Credit Risk?

The ICCL (the Clearing Corporation of Bombay Stock Exchange Ltd.) gives an unconditional guarantee for the net settlement obligations of all clearing members in the currency derivative segment. As such, in case of default of a clearing member, ICCL becomes counter-party for his net settlement obligations and thus other market participants remain unaffected.

8. Who can trade in the Currency Futures Market?

Except FIIs and NRIs, every individual/corporate/institution/bank etc. is allowed to trade in the Currency Futures market.

9. Which currencies are allowed to trade on NSE-CDX?

To begin with, only US Dollar ($) futures is being traded against the Indian Rupee (INR). The contract for say the month of April will be called USDAPR2010.

10. How many contracts are available for trading in NSE-CDX?

There are 12 near calendar months contract available for trading along with spread contracts for every combination.

11. How can I sell a Futures Contract before I own it?

You do not need to own the underlying currency when you enter into a futures contract. The contract simply represents a commitment to either sell or buy the asset on the set expiry date.

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