Can Indian Resident legally do U.S. Intraday Trading?
I am a resident Indian. I want a legal opinion on whether non-leveraged, same-day intraday trading of U.S.-listed common shares using LRS-remitted funds is permitted under FEMA/RBI rules.
Under Foreign Exchange Management Act, 1999 and RBI Liberalised Remittance Scheme (LRS), resident Indians can invest abroad in permitted assets. However, intraday or speculative trading in foreign equities is generally not permitted under LRS restrictions. Only permitted capital account transactions like listed securities investment are allowed. You should consult your bank/authorised dealer for compliance before trading. For further legal assistance contact us on our helpline number.
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