How to Trade in Currency Futures Using SBI FX Trade?
STEP 1: Opening SBI FX Trade Account Customers who are interested in participating in currency futures market have to necessarily open a SBI FX Trade trading account. The trading account will be linked to a Savings/ Current account specified by the customer in the account opening form. Currently, SBI offers the trading facility with National Stock Exchange of India (NSE). The client can open the SBI FX Trade account at selected branches after completing the necessary KYC documentation specified by the Regulators SEBI and RBI. After completion of the KYC documentation, the trading account of the client would be opened within a few days and an email would be sent to the client with the user name and password. STEP 2: Logging In & Upfront Allocation of Required Margins. To trade in a currency futures contract, the client needs to give the required margins upfront to the Bank. The margin is fixed at 5% of the value of the contract but can be modified by the Bank depending on the market vol
