OctaFX account worth 21 cr frozen by ED – Katoch Tubes
OctaFX account frozen by ED
OctaFX account frozen by ED
About OctaFx
About OctaFx
OctaFx is a forex brokerage firm with an online trading platform. Users trade forex pairs & CFD by converting
INR to USD
What's the News?
What's the News?
OctaFx account worth 21 crores has been frozen by ED for alleged violation of forex rules.
The ED Probe
The ED Probe
ED has been probing the company for illegal forex trading activities. It collects funds & transfer to multiple e-wallet accounts.
The RBI Approval
The RBI Approval
The platform does not have RBI approval to trade in Forex which makes it an illegal entity for trading any asset in the country
Is Forex trading legal?
Is Forex trading legal?
Forex trading is not legal in India. It is banned to protect the Indian forex reserve since India is an export driven nation.
Is Crypto legal in India?
Is Crypto legal in India?
Yes,Crypto is legal in India. However, users have to pay 30% tax on capital gains & 1% TDS on every transaction
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