Fema act, proi and forex trading related query
I am Seafarer, working in foreign going ship since 2015. I usually join ship for 5-6 months in a year sometime even more. Because of my work profile and as per FEMA act, my NRE account was open to get my salary (which is paid in USD).
This year since January 28th, I had joined the ship from singapore. I came back to india on 4th July 2020. That means for this financial year i.e from 1st april 2020 till 4th july 2020, i have been working abroad. I have following 3 query related to FEMA
1) For the Financial year 2020-21, will i be considered as PROI ( Person Resident outside india ) as per FEMA Act ?
2) I presume that, i will be considered PROI, Then as per the RBI guidelines on 17th Sep 2013, The overseas online/website payment for forex trading to foreign broker was considered illegal for PERSON RESIDENT IN INDIA.
I want to be sure that this particular regulation or any related rule and regulation from SEBI or RBI or FEMA ACT, doesn't allow me to do FOREX trading with international broker / exchange (Binary option not actually buying or selling Foreign currency) ?
[ The aim for asking this query is that, I have to do forex trading through my NRE account money, which, i earned as seafarer working in foreign going ship. To be specific i want to trade in the binary option product (EUR/USD) in NADEX (North American Derivative Exchange). NADEX is under regulation body called CTFC in USA. The Nadex is chicago based exchange since long time and its legal in USA. ]. NADEX do allow indian.
3) In coming days, if i want to leave my job and continue my trading in NADEX as a fulltime career (now that time i will be person resident in india ) will it be legal for me then, to continue using ONLY that money which i earn when i was PROI.
[ In FEMA act the section 6 subsection 3 (Capital Account transaction) Person resident in india can own, hold, transfer and invest in foreign currency, foreign securities and immovable properties outside india if same thing was acquire when he was person resident outside india ].
Based on 3rd point is there any specific steps in need to do from my side for continuing my trading in NADEX.
Kindly help me to clarify my queries. If there is more info require in this matter (which i haven't mentioned) to answer my query completely then let me know.