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Yes there are a number of offshore online brokers which allow Indian residents to trade foreign currencies online but the ruling from the Royal Bank of India is that it is not allowed. Trade anytime open a free account today , anywhere trade. Once you have that it should be easy enough to open an account with a forex broker based in another country.
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Compare online forex trading platforms in India | finder - Finder. 46 dated 17 September, overseas forex trading by Indian residents through digital trading portals, using credit cards or net banking, is strictly prohibited.

Transferring money to a forex trading account with a broker outside India is a violation of the Foreign Exchange Management Act ( FEMA), 1999 and.

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