A Brief Introduction To Major Forex Companies In India
Foreign exchange trade started in 1978 when the banks in the country were allowed to trade foreign exchange among themselves. Since then foreign exchange trading in India has always been dominated by the banks. No wonder that the biggest forex companies in India are actually banking institutions.
Among the top forex companies in India, one name which has a big reputation is Deutsche Bank AG. The organization entered in India in 1980 and has established itself as one of the best financial organizations in the country. Deutsche Bank has offices in almost all the major international trading hubs in the country and employs a dedicated staff of more than 5000 people in India. The bank has won a number of awards for its excellent services.
Apart from forex trading, Deutsche Bank is also involved in a number of other activities like retail and corporate banking, global banking services, asset management and wealth management for individuals. The organization was also involved in key areas if the IPO of DLF which is considered to be the biggest IPO ever witnessed by the country.
JP Morgan Chase Bank is another of the important forex companies in India. The organization is a part of the JPMorgan Chase which is the biggest and oldest financial services organizations in the world. The company has been present in India for some time now and has established itself among the most respected financial institutions active in the country. The organization charges very economical prices for its services and has offices in all the major parts of the country. Apart from foreign exchange dealings, the company is also involved in a number of other activities like investment management and advisory, stock trading services, bond trading and trading of mutual funds. Another important member of the family of forex companies in India is Societe Generale. The organization has been active in India since 1978. Incidentally, this is the same year when the banks in India were allowed to indulge in foreign exchange trading among themselves for the first time. The organization has offices in New Delhi and Mumbai both of which are the two biggest hubs of international trade in the country. The organization is active in India with two of its subsidiaries. Of these only SG Asia Securitites (India) Private Limited is indulged in the brokerage activities. The company came up with a representative office in 1994 and within a year, it had moved on to having its first branch which opened for business in 1995. Forex companies in India have to register themselves with the Foreign Exchange Dealers Association of India in order to become an Authorized Dealer. You can find more information about forex companies in India by going through the members section of the FEDAI website.
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