Is Currency Trading Legal In India

Forex trading in India -is it legal ?
I wish to trade in Forex Currency Market can anyone guide me regarding this is it legal in INDIA .If it is legal can anyone provide me the link of a good Forex companies website……
option 1 : alpari.co.in
option 2 : inarabiafx dot com
option 3 : wsd-nz dot com
Check to make sure they are regulated and preferably not new to the forex scene.
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