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Alpari now accepts forex deposits in Indian Rupees (INR)

Alpari, an offshore based forex broker, today announced that clients using Neteller electronic wallet to fund their forex trading accounts now can make deposit in two new currencies:  Indian rupees (INR) and Brazilian real (BRL). 

 

Eighteen months ago Alpari India shut down its operations as part of Alpari's plans to file for an IPO on London Stock Exchange (LSE). However the UK subsidiary of Apari filed for insolvency on SNB decision to abandon EURCHF floor in January and now it looks like that Alpari is taking steps to return to Indian market.

 
Forex trading is not exactly legal in India. A couple of years ago Reserve Bank of India (RBI) asked banks to close the credit card or online bank account of a customer that is using it to fund its forex trading account. That's why many Indians use electronic wallets like Skrill and Neteller to transfer funds to overseas forex brokers.
 
With Alpari funds are generally posted to your account instantly, but it shouldn't take more than one business day from the time the funds are credited to your trading account.
 
Below is some more information than you can find useful:
 
 - Commission: 2.5%.
 - Maximum amount that can be transferred via Neteller: 50,000 USD, 37,500 EUR, 2,500,000 INR or 200,000 BRL.
 - Deposits can only be made from a NETELLER account in the name of the Alpari account holder.
 - Transfers from third parties and from Canada, Hong Kong, Israel, Macao and Turkey are not accepted. Refunds are returned to the sender.
 

 

TAGS: alpari  india  indian rupee  inr 

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