Is it directly or indirectly illegal to purchase prop firms to trade forex?

[User_41d93ce4]

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User_41d93ce4
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February 23, 2025 at 5:39 pm

Basically, prop firms offer a simulated environment where you trade with fake money and any profit you make, 80% of it is given to you.

They make money off of the 97% people that fail the evaluation challenges which accounts to a lower end of $60 per person, per try.

My question is, I saw a youtube video from a CA where he mentioned, if you purchase a prop firm with INR the bank can run a query on you.

I don’t recall everything word for word, but his view was that even the purchase of such a prop firm involving INR can cause legal issues and it should only be done through crypto purchases.

But to buy crypto you’d be using INR too? So I’m just confused and what legal advice on wether a purchase of prop firm through INR is inherently breaking any laws.

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