what are the requirements to get a free funded forex account in india

To get a free funded forex account in India, there are typically a few steps and requirements that you'll need to fulfill. However, you should be cautious about offers that seem too good to be true, as there are scams in the forex trading space. Here’s an overview of what is typically required: 1. Choose a Reputable Forex Broker Select a trustworthy and regulated forex broker or platform that offers funded forex accounts, such as WinProFX or similar. In India, forex trading is allowed for currency pairs involving the Indian Rupee (INR) but should be done through registered brokers with proper licenses (e.g., SEBI registration). 2. Registration Process Account Creation: Sign up on the platform by providing your basic details, like your name, email address, phone number, and sometimes a form of identification. Verification: You may need to provide KYC (Know Your Customer) documents such as Aadhar card, PAN card, and bank statements to verify your identity. 3. Meet the Trading Criteria (if applicable) Some platforms require you to pass an assessment or demonstration of your trading abilities. This could involve: Demo Account Trading: You may need to trade on a demo account for a set period (e.g., 30 days) or meet certain performance metrics (e.g., a minimum percentage of profit). Trading Challenge: Some brokers offer a challenge where you need to trade with a demo account or low-risk trades to prove your skills in risk management and profitability. 4. Deposit Requirements (if any) Many funded account programs may require you to make an initial deposit (even if it's small) to show your commitment, while others offer fully free accounts with no deposit requirement but could have restrictions on leverage or maximum risk allowed. Always clarify this with the broker. Risk Management: You may be required to follow strict risk management rules, like not risking more than a specific percentage of the account on a single trade. 5. Profit Sharing Agreement Be aware of the profit-sharing terms. Typically, the profits made on the funded account are split between the trader and the company providing the funding. The split could be anywhere from 50/50 to 80/20 in favor of the trader, depending on the broker. 6. Trading Experience and Skillset While some companies might offer a free funded account, they often look for a certain level of trading experience and discipline. Many brokers expect you to have a proven track record of successful trading (even in demo accounts). 7. Follow the Broker’s Rules Brokers typically have strict rules regarding maximum drawdowns, lot sizes, and leverage. You will need to agree to and follow these rules. Failure to do so could result in losing access to the funded account. 8. Be Aware of Forex Regulations in India In India, forex trading is regulated by the Reserve Bank of India (RBI), and you can only trade on approved platforms. Ensure that the forex broker you are using complies with Indian laws and regulations. Only trade currency pairs that involve INR (e.g., USD/INR, EUR/INR, etc.). Trading foreign currency pairs like EUR/USD, GBP/USD, etc., on platforms not approved by the RBI may be illegal in India. Key Tips to Remember: Research: Do thorough research on the platform or broker offering the funded account. Look for reviews, testimonials, and any regulatory status they may have. Avoid Scams: Be cautious of platforms promising easy profits or requiring you to pay large upfront fees for a “funded” account. Understand the Terms: Always read and understand the terms and conditions, especially regarding profit sharing and any fees involved. Contact us Address – 1st Floor, The Sotheby Building, Rodney Bay, Gros-Islet, SAINT Lucia P.O Box 838, Castries, Saint Lucia Phone no – +97144471894 Website – https://winprofx.com/