@nithin Sir,
Does forex prop Firm is legal in India?
I am asking because it is not a broker.
It is a evaluation company.If someone wants to trade with this forex prop Firm like (THE FUNDED TRADER, MY FOREX FUND, FUNDED NEXT, Topsteptrader, The5%ers etc…) then we have to purchased a challenge . The amount of challenge was 50$ -1000$ . If someone passed then they give 5k – 200k capital account that are virtual or demo .
The money is not real.
And after passing the challenges (Phrase 1 and Phrase 2) we earn money by profit split.
Around 70-90%.
It is like a contractor based service.
So I am asking you because many Indian are earning and losing money from this.
it is legal or not?
Now on YouTube this Prop Firm are in trending.
Sir,
It will be very helpful if you kindly help me to know about this topic.
Thank you.
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