Hi , I am in Canada on work permit. Is it legal to open a trading account with say ICICI etc and buy IP0?

Posted October 26th, 2011 by immigratecanada and filed in Immigration to Canada
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I wanted to be sure that I can open an online trading account while I am in India and trade in Indian stocks, IPO, mutual funds etc. Is it legal as per RBI etc ? Do I have to report the same to revenue canada in my tax filings ?

Any advice is greatly appreciated.