USD-INR &JPY-INR are the pairs traded under currency options and USD-INR, EUR-INR, GBP-INR, JPY-INR are the pairs which can be traded under currency futures.
No, there is no compulsion. You have to open only trading account. Although Swastika provides demat account facility, if you wish to open demat account for stock trading, let our executive know.
Trading currencies is always done in pairs. Unlike the stock market, where you can buy or sell a single stock, you have to buy one currency and sell another currency in the forex market. It is traded in different size lots. The micro-lot is 1,000 units of a currency. A mini lot is 10,000 units of your base currency and a standard lot is 100,000 units of a currency.
Open a trading account- To get started; you have to open a trading account. You can open a free online trading account on Swastika’s website and start trading right away.
Research- It's important to understand what to buy or sell and when to buy and sell. Keep a close eye on trends.
Due to low trading costs, a variety of marketplaces, and the availability of large leverage, buying and selling currencies may be quite profitable for active traders.
USD/INR. USD/INR is the most traded currency pair in India, with USD/INR transactions making up 70% of daily trades in 2022.
The four currency pairs that are most frequently traded in the forex (FX) market are:
EUR/USD, USD/JPY, GBP/USD, and USD/CHF are the four primary pairs. These four significant currency pairs are members of the Group of Ten (G10) and are deliverable currencies.