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Access a deep community of around 14,000 traders globally, with a strong footprint in emerging and frontier markets. Messenger connects 300,000 financial market participants across the buy- and sell-sides. FX brokers apply triple swap on Wednesday because that’s how it’s applied by the banks providing liquidity to the FX market. Remember, FX spot trades usually have a two-day settlement. Triple interest is applied to FX trades at 5pm Wednesday (NY close) as this marks the beginning of a new 24-hour trading day (Thursday) in the global FX market. As the position takes two days to settle, the trade would settle on Saturday when banking institutions are closed, hence the triple interest/charge into Wednesday’s close to cover this. To sum up, Indians cannot directly trade in the global foreign exchange market via unregulated, decentralized platforms as they are considered illegal. However, they can still trade in foreign currency derivatives on SEBI- and RBI-approved platforms or brokers via centralized stock exchanges, such as the Bombay Stock Exchange (BSE) or the National Stock Exchange (NSE).