What opening an account with FxPro means

What is recorded in your own name against what is only an agreement

Holding a share and holding a contract on its price are not the same thing. One is recorded in your name; the other is an agreement with the firm. At FxPro the exposure is a contract on the price, with no share registered in your name.

A reader who wants a share registered in their own name will need a different route, and that route draws on the same yearly ceiling. The account at FxPro is a balance in foreign currency, and a position on a price is not ownership of the asset.

What a licence held in another country does and does not do in a dispute

The firm is based outside India, and its licence is held in that country. A licence held there does not give a reader in India the same recourse as a firm regulated here, and a dispute would be heard under the firm's own terms.

A reader should check those terms before opening the account, and should understand that the firm's regulator is not the one that supervises banks in India. This site does not promise safety or profit, and does not state that the firm is licensed or supervised in India.

The costs that run by the day on a leveraged position

A leveraged position carries a cost that runs for every day it stays open, and it runs even when the price does not move. That cost is separate from the collection at source, which is taken once before the rupees leave and does not run by the day.

Opening an account needs identity and address documents; the process is the firm's, not this site's. Money sent abroad for either route goes out under the same scheme and counts towards the same yearly ceiling.

The account is opened with a company in the FxPro group licensed outside India - by the FCA in the United Kingdom and by CySEC in Cyprus. It is not registered with SEBI, and that changes what is available to you in a dispute: the protections that apply to a broker registered in India do not extend to a foreign firm, and the Indian rules on margin and on investor grievance redressal do not apply to it either. Check the registration before sending money, and remember that the remittance itself is governed by the scheme and its ceiling whatever the firm.