Forex trading is a highly speculative investment activity that can carry significant risks. The legality of forex trading in India is unknown and subject to interpretation by various government agencies. There are no official regulations or guidelines governing forex trading in India. Many forex brokers in India offer their services without registering with the Reserve Bank of India (RBI), which could lead to legal consequences should any problems arise. Therefore, before starting any forex trading activities, you seek independent advice from qualified financial advisors. There have been reports of forex traders in India who have lost millions of dollars due to systematic fraud and manipulation by some of the country's leading brokers. So while Forex trading may seem attractive, it is important to know the risks involved before taking the plunge.