Forex Trading Classes in Pune Currency derivatives on NSE and BSE
Our forex trading classes in Pune teach currency trading the only way it's legal for Indian residents: exchange-traded currency futures and options, through SEBI-registered brokers. You'll learn what moves the rupee, how the contracts work, and how to spot the illegal forex apps that cost Indians crores every year.
- Duration
- 4 weeks
- Schedule
- Weekend or weekday evening
- Mode
- Classroom · Online
- Language
- English · मराठी
- Batches
- New batch every month
Legal currency trading in India, explained properly
Search for forex trading and you'll see ads for apps offering huge leverage, instant accounts and payments through UPI. Most of them are offshore platforms that Indian residents are not allowed to use. People who trade on them risk losing their money with no protection, and can also face action under FEMA. The RBI keeps a public Alert List of these platforms, and it keeps growing.
There is a legal way to trade currencies from India. NSE and BSE run a currency derivatives segment where you can trade futures and options on the rupee against the dollar, euro, pound and yen, plus a few cross-currency pairs, through any SEBI-registered broker. This course teaches exactly that: how the market works, what moves the rupee, how to analyse currency charts, and how to size and hedge trades. It also teaches you how to check whether any platform is legal, so you never become the next victim of a fake forex app.
This course is for you if
- You've seen forex ads and want to know what's actually legal
- You already trade equity and want a new segment
- You run a business with imports or exports and want to understand hedging
- You earn or pay in dollars and want to understand the rupee
It's not for you if
- You want to trade on offshore forex apps
- You want 'forex signals' or copy trading
- You're new to the market (start with our beginner course)
- You want high leverage to grow a small amount fast
Legal vs illegal forex trading in India
Rules can change. Always confirm the current position on the RBI and SEBI websites before you trade.
How to check the RBI Alert List before you trade
The RBI publishes a list of forex trading platforms and websites that are not authorised to deal in forex in India. Check it before you download any app or send money to any platform.
- Search for "RBI Alert List forex" and open the page on the official rbi.org.in website.
- Look for the platform or app name on the list.
- Even if it isn't listed, check that your broker is SEBI-registered and that you're trading on NSE, BSE or MSE.
- If a platform asks you to pay through UPI to a personal account, walk away.
Signs of a fake forex scheme
- Ads promising fixed daily or monthly dollar income
- Payment requested through UPI to a personal account
- Leverage of 1:500 or more, with 'bonus' credit
- Account managers who trade for you
- Referral bonuses for bringing in friends
- The platform isn't linked to NSE, BSE or MSE
Currency pairs you can legally trade in India
- Rupee pairUSD / INRThe most active currency contract in India.Watch: Fed, crude, foreign flows
- Rupee pairEUR / INREuro against the rupee, moves with Europe's economy.Watch: ECB, euro-dollar
- Rupee pairGBP / INRPound against the rupee, often more volatile.Watch: Bank of England, UK data
- Rupee pairJPY / INRYen against the rupee, quoted per 100 yen.Watch: Bank of Japan, risk mood
- Cross pairEUR / USDThe world's most traded pair, settled in rupees.Watch: ECB vs Fed
- Cross pairGBP / USDPound against the dollar, settled in rupees.Watch: UK and US data
- Cross pairUSD / JPYDollar against the yen, settled in rupees.Watch: Rate gap, Bank of Japan
Cross-currency pairs don't involve the rupee, but the contracts are still traded on Indian exchanges and settled in rupees. Anything outside this list, like exotic pairs, CFDs or crypto pairs on forex apps, isn't permitted for residents.
Six forces behind every USD-INR move
- The US Fed raises interest rates
- Global money moves towards US bonds
- Demand for dollars rises
- The rupee tends to weaken (USD-INR rises)
- Foreign investors buy Indian shares and bonds
- They convert dollars into rupees
- Demand for rupees rises
- The rupee tends to strengthen (USD-INR falls)
- Crude oil prices rise
- India pays more for its oil imports
- More dollars are needed
- The rupee tends to weaken (USD-INR rises)
- Indian inflation comes in higher than expected
- Each rupee buys less over time
- Pressure builds on the rupee
- The rupee tends to weaken (USD-INR rises)
- The dollar strengthens against major currencies
- Most currencies weaken against it
- The rupee usually follows
- The rupee tends to weaken (USD-INR rises)
- The rupee falls too fast
- The RBI sells dollars from its reserves
- The fall slows or reverses
- The rupee tends to strengthen (USD-INR falls)
In class: We track RBI and Fed meeting dates on the calendar and cut position size before them.
In class: We look at foreign investor flow data weekly to understand the background pressure on the rupee.
In class: Because India imports most of its oil, we keep a crude chart next to every USD-INR chart.
In class: Inflation release dates go on the calendar. The real move often comes from what traders expect the RBI to do next.
In class: We check the dollar index first. If the dollar is strong everywhere, a weak rupee isn't really about India.
In class: Our case study shows this exact move. The RBI can reverse a trend in minutes, so every plan has a stop.
How our forex trading classes in Pune are run
Legal framework first
The first class is about what you can and can't do as an Indian resident. Everyone leaves knowing how to check a platform on the RBI Alert List.
Calendar and chart together
Each lesson pairs a currency chart with the economic calendar, so you see how RBI, Fed and inflation announcements moved USD-INR in the past.
Hedging examples from real life
We work through hedging cases like an importer paying in dollars or a family paying fees abroad, so the ideas connect to money you recognise.
Currency trading course syllabus: four modules
Four weeks of live teaching, one module a week, plus weekly chart and calendar practice. Tap a module to see what's inside.
Download the full syllabus (PDF) ↓01 How currency markets work, legally Week 1
- What moves the rupee: rates, flows, crude, the dollar
- FEMA, LRS and why offshore forex isn't allowed
- The RBI Alert List and how to check a platform
- Currency derivatives on NSE, BSE and MSE
02 Currency futures and options Week 2
- Contract size, lots, margin and expiry
- Settlement in rupees
- Currency options: calls, puts and premiums
- Cross-currency pairs like EUR-USD
03 Analysing currencies Week 3
- Technical analysis on currency charts
- The economic calendar: RBI, US Fed, inflation data
- Event risk and central bank intervention
- The dollar index and global context
04 Strategies, hedging and risk Week 4
- Trend and range setups in currencies
- Hedging for importers, exporters and families paying abroad
- Position sizing with margin and leverage
- Your currency journal and review
Forex and currency trading terms you'll learn
- USD-INR
- The price of one US dollar in rupees. The most traded currency contract in India.
- Currency futures
- An exchange contract to buy or sell a currency at a set price on a future date, settled in rupees.
- Currency options
- The right, not the obligation, to buy or sell a currency pair at a set price before expiry.
- Tick size
- The smallest price move a currency contract can make. It decides your profit or loss per move.
- Lot size
- Currency contracts trade in fixed lots. Your position size is always a number of lots.
- Margin
- Money blocked by your broker to hold a position. Leverage means small moves matter a lot.
- Dollar index
- A measure of the US dollar against a basket of major currencies. It sets the global mood.
- Interest rate gap
- The difference between Indian and foreign interest rates. It affects where money flows.
- RBI intervention
- When the RBI buys or sells dollars to steady the rupee. It can reverse moves suddenly.
- Hedging
- Taking a position to protect against a currency move, used by importers, exporters and families.
Walk through a real case, one line at a time
Every currency trade in class is written up on the same seven-line sheet and replayed on past data. This one lost money. We teach it anyway, because it shows how event risk works in currencies.
- Market data at least 30 days old, per SEBI's education rules
- Losing trades on the board, not just the winners
- Paper-traded first, so the habit forms before real money
We describe the market first. The rupee had been weakening against the dollar for weeks on strong dollar demand and foreign outflows.
Price pulls back to its average. The setup looks fine on the chart, but the economic calendar shows an RBI policy meeting in two days.
The trade is entered when price moves above the previous day's high, the same rule used in our trading course.
The stop goes below the swing low and the position is sized to lose 1% of capital. The event risk is noted, but the size isn't reduced.
Around the policy meeting, the RBI steps in to support the rupee. USD-INR reverses sharply and the stop is hit.
The stop worked and the loss was exactly the planned 1% of capital. No leverage surprise, no margin call.
The chart was right until the RBI acted. Now every currency plan in class checks the economic calendar and halves the size before central bank events.
Tools you'll use in our currency trading classes
Currency trading needs exchange data and a good economic calendar more than fancy indicators. These are the free tools we use, set up in week one.
Everything included in the forex trading course
Forex trading class timings and course details
Currency derivatives trade during Indian market hours, but you don't need to be free then to learn. Weekend and weekday evening batches both use past data for practice.
New batches start every month. Ask on WhatsApp for the next one.
Sharad Gaikwad
Sharad's years on US trading desks meant watching the dollar every day. In the currency course he teaches the habits that matter most here: respect the central bank, check the calendar, and keep leverage low.
"If a forex platform isn't on an Indian exchange, it doesn't matter how good the app looks. Your money isn't protected."
How to choose forex trading classes in Pune
Many "forex courses" are really sign-up funnels for offshore apps. These six checks help you find one that teaches legal currency trading only.
Read our full comparison of Pune institutes →- 01 Do they teach only legal, exchange-traded forex? Any course that uses offshore apps or MT4 brokers is teaching you to break the rules.
- 02 Do they explain the RBI Alert List? A responsible course shows you how to check any platform yourself.
- 03 Do they refer you to a platform? Referral links to forex apps are a big red flag. Education shouldn't come with a sign-up link.
- 04 Do they promise dollar income? 'Earn $500 a day' claims are marketing, not education.
- 05 Do they cover central bank risk? Currencies move on RBI and Fed decisions. A good course teaches the calendar.
- 06 Do they trade live in class? SEBI requires education to use data at least 30 days old. Live signals are a warning sign.
Is forex trading legal in India?
Yes, but only through exchange-traded currency derivatives on NSE, BSE or MSE, using a SEBI-registered broker, in permitted currency pairs. Trading on offshore forex websites or apps, or funding them from India, is not permitted for residents.
Can I trade EUR-USD or GBP-USD from India?
Yes, on Indian exchanges. NSE and BSE offer contracts on cross-currency pairs like EUR-USD, GBP-USD and USD-JPY, settled in rupees. You cannot trade these pairs on offshore platforms.
What is the RBI Alert List?
It's a list published by the Reserve Bank of India of forex trading platforms and websites that are not authorised to deal in forex in India. Check it before using any forex app.
Are apps like MT4 and MT5 forex brokers legal in India?
Most offshore brokers offering MetaTrader accounts to Indian residents are not authorised. The software itself isn't the issue. Using it to trade forex with an offshore broker, from India, is. Always use a SEBI-registered broker and an Indian exchange.
Can I send money abroad under LRS to trade forex?
No. The Liberalised Remittance Scheme does not allow remittances for margin trading or trading forex on foreign platforms. Speak to your bank or a chartered accountant if you're unsure.
Are these forex trading classes in Pune for beginners?
You should know market basics and ideally technical analysis first. If you're new, start with Equity Market Basics and Technical Analysis, then join this course.
How is profit from currency derivatives taxed?
Profits from exchange-traded currency derivatives are generally treated as business income, not capital gains. Rules can change, so please speak to a chartered accountant about your situation.
How long is the forex trading course?
It runs for 4 weeks, one module a week. Weekend batches meet on Saturday and Sunday, and weekday batches meet on Tuesday and Thursday evenings from 7:30 pm. New batches start every month.
Can I join the currency trading classes online?
Yes. Every batch runs live online alongside the Katraj classroom, with recordings shared the same day.
Is it taught in Marathi?
Yes. Concepts are explained in Marathi and English. Terms like lot, margin and expiry stay in English as they appear on screen.
Do you give forex signals or tips?
No. We are an education institute, not a SEBI-registered adviser. We never share forex signals, tips or trade alerts, and we never refer students to any platform.
How do I get fee details?
We share fee details at the free demo class or on WhatsApp, along with what the group and 1-to-1 plans include.
Where to go after forex trading
Want more on derivatives first? Try our option trading classes, or see all share market classes in Pune.
Sit in on a currency trading class first.
A free demo lecture, in the classroom or online. Bring your questions.