Johannesburg Stock Exchange. Bombay Stock Exchange. New Zealand Stock Exchange. Nigerian Stock Exchange. Kenya Stock Exchange. Popular Global Stocks. Forex Brokers. Forex Trading Platforms. Best Forex Brokers Top Forex Brokers Forex No Deposit Bonus Best Trading Apps Forex Trading for Beginners Forex Trading for Intermediate Traders Forex Trading for Professionals Top Successful Forex Traders High Leverage Forex Brokers Volatility 75 Forex Brokers Top Volatile Forex Pairs Biggest Forex Brokers in the World Best Forex Trading Strategies Low Spread Forex Brokers Scam Forex Brokers Unregulated Forex Brokers.

Trading Platforms by Deposit. Index Trading Platforms. Trading Platforms. Brokers by Account Type. Brokers by License. Brokers Types. Day Trading Platforms. Brokers by Country. Forex Traders on Social Media. Forex Brokers Payment Gateways. Broker Reviews. Top 10 Best Rated Brokers. Top 10 African Brokers. Top 10 European Brokers. Top 10 US Brokers. CFD Trading. Case Studies. Helpful Guides. Trading Courses. Select Language. Русский English ไทย Svenska Brazil Portugal Polski Suomi India Indonesia Pakistan Melayu Bangladesh.

Tiếng Việt 한국어 Italiano Nederlands Kenya Français العربية Español Deutsch Nynorsk Dansk 简体中文 日本語. Bulgarian Catalan Croatian Czech Republic Philippines Greek Hungary Romania Slovakia Iran Ukrainian Turkey Tamil.

Broker of the month. Top 27 Regulated Forex Brokers. Forex No Deposit Bonuses. Best Brokers. Visit Broker. In this in-depth write-up you will learn: Who is the Best Suited Broker for Beginner Indian Traders?

Pros and Cons of Forex in India. INR Accounts and how they work. Overall Rating. USD IFSC, CySec, ASIC. Open a Real Account.

ASIC, FSA, CBI, BVI,FSCA,FRSA,CYCES, ISA, JFSA. MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central.

USD 5. CySEC, FCA, FSA, DFSA, FSCA, CMA. MT4, MT5. CySec, FCA. No Trading Desk. CySec, FSCA. MetaTrader4, Metatrader 5. FCA, CySEC, IFSC, KNF. USD 1. IFSC, FSCA south africa , ASIC, CySEC. MetaTrader 4, MetaTrader 5. Welcome bonus. Very Low. Open a Trading Account. Author Details. Facebook Twitter Youtube Linkedin Instagram. Louis Schoeman. Table of Contents. You might also like. JP Markets Sign Up Bonus JP Markets offers a welcome bonus to all new traders who choose to register for a real account.

JP MARKETS Review JP Markets is considered a low-risk and can be summarized as trustworthy and reliable. IWBank Review Overall IW Bank offers numerous investment prospects for their clients, and allows them to invest in equities and bonds. com Sign Up Bonus TRADE. com Minimum Deposit Trade. com Fees and Spreads TRADE. A - Z Brokers:. Trade with a Regulated Broker. As Seen On:. fs logo footer. Facebook Twitter Youtube Linkedin Instagram Pinterest. Indices Stocks ETFs Commodities Cryptocurrencies Menu.

Learn to Trade Free Courses Menu. Forex Brokers by Country. What is Forex Trading Best ECN Brokers FCA Forex Brokers NDD Brokers STP Brokers NFA Forex Brokers PAMM Forex Brokers Menu. Swap-Free Forex Brokers Social Trading Automated Trading Best Forex Demo Accounts Best Forex Trading Apps Forex Screener Menu. Top 10 Forex Brokers. Avatrade Exness JustMarkets Oanda BDSwiss Hotforex Pepperstone FBS OctaFX GoMarkets Menu. What is ETF trading Best Regulated ETF Brokers Menu.

Instant trade execution and swap-free accounts make the broker a competitive choice for Indian nationals. Just for your information, after trading for the past twelve years and using hundreds of forex brokers, I understand every nitty-gritty of the forex world. I exactly know what to look for while searching for the best forex broker.

I cannot forget my bad experiences with the forex world and the money I lost to dishonest brokers. It took me three whole days to search through the pile of brokers to finally come with the list of the top five forex brokers in India. During my search, I looked for various factors such as regulations, the safety of funds, trading platforms, spread, commissions, and customer services, etc.

The Reserve bank of India stipulates the legal framework concerning foreign financial transactions under the Foreign Exchange Management Act The RBI also regulates and oversees foreign transactions taking place within the country.

On the other hand, the Securities and Exchange Board of India SEBI is the main regulatory body for financial intermediaries dealing with the Indian stock market. All forex brokers based in India need to comply with the FEMA regulations to continue offering services in India.

The Reserve Bank of India can cease the broker from operations if found in breach of conduct with the stipulated regulatory framework. Additionally, the broker might have to face other legal proceedings as well. Read: SEBI Registered Forex Brokers.

Dealing desk brokers are also known as market makers. Dealing desk brokers make money from the spreads or commissions charged to clients. Also, dealings desk brokers might or might not interfere with your trades before executing them in the market, depending upon the policy of each broker.

STP brokers directly route orders to their liquidity providers having direct access to the interbank market. However, STP brokers also charge a nominal fee, usually in the form of spreads. ECN brokers match orders of clients with the orders of other clients available on the ECN networks.

In other terms, all clients on the ECN compete against each other with their best ask and bid prices. Clients on ECN usually enjoy the depth of the market. In addition to a fixed markup, you might need to pay a nominal commission on your trades to the ECN brokers. Regulation of a broker makes your investment safe.

If your broker is regulated, you can rest assured that your broker will abide by the rules and regulations of a respective regulatory body, ensuring best practices. The foremost requirement that a regulated broker needs to fulfill is to be sufficiently liquid. Other prerequisites might include plans for funds protection, the security of confidential information, etc. For other legality you may read here and here. One of the main factors you must carefully consider is the fee schedules of the broker.

The type of fee a broker might charge includes spreads, commission on spreads, overnight fees, inactivity fee, fee on deposit and withdrawals, etc. A fee might look nominal but can make a substantial impact on your profits when aggregated. Most of the time, brokers offer leverages to their clients to open large positions by investing only a fractional amount. Where leverage options can be a great source of profit maximization, it can also lead you towards severe losses if the market moves against you.

A demo account is a great tool to practice your trading skills and try different money management strategies without compromising your real funds. Always check if your broker offers a demo account. Think twice before opening an account with such a broker. After a careful review of various brokers operating in India, I consider plus to be the best brokerage company due to its low spreads and funds security.

About us Contact Us Advertise With Us Press Room Terms of Services Report an Error Sitemap. Forex Trading in India Best Forex Brokers in India SEBI Regulated Brokers Forex Trading in Singapore Best Forex Brokers in Singapore. The knowledge shared on this site comes from his own personal research and experience. He does his best to provide accurate, useful information about financial products and services, but makes no guarantee that all readers will achieve the same level of success.

If you have questions, consult a licensed financial advisor. Advertising Disclosure: Some offers on this page may promote affiliates, which means The ForexToStocks earns a commission if you purchase products or services through the links provided. The content at ForexToStocks has not been endorsed by any entity mentioned at the site.

For additional information, please review our full advertising disclosure. ForexToStocks is committed to delivering content that adheres to the highest editorial standards in terms of accuracy, sourcing and objective analysis.

Every article is written by topic experts with relevant academic credentials in the field of business, accounting and finance — including actual trading experience or someone who is a practitioner in the financial market. Before going live, each article is thoroughly reviewed and fact checked by a qualified member of the editorial team.

Furthermore, we have a zero-tolerance policy regarding any level of plagiarism or malicious intent from our writers and contributors. We are aware that our editorial process is not perfect, and we are constantly improving our editorial quality through readers feedback and internal review.

WORLD LEADER IN FINANCIAL TRADING SINCE Home » IN » 11 Best Forex Brokers And Trading Platforms in India Reviewed by Bowen Khong, ACCA. Fact Checked. Last updated: March 11, In this article, I review 11 brokers which in my view are the best forex brokers in India.

com IG Market Hot Forex XM Pepperstone etoro Avatrade OctaFX Saxo Bank Interactive Brokers Plus Plus is a UK-based broker known for providing premium trading solutions to its clients all around the world.

PROS Multiple regulations Multiple educational resources Easy-to-use trading platforms US Clients are allowed. Is forex trading in India even legal? First off, yes—forex trading in India is legal —with some restrictions, of course.

If done through a registered broker, traders can access and trade almost all currency pairs. In terms of the ongoing COVID pandemic, the State Bank of India has reported that India has dealt with cases better than expected. Additionally, India has experienced an accelerated economy, as of September.

At the same time, a Biden presidency is predicted to create a positive environment for businesses with corporate profitability and international supply chains. This sets up a positive outlook for the forex trading environment in India. So, next things next—finding a regulated and safe forex broker to protect you from scams and fraud. In this review, we take you through the leading, registered forex brokers in India.

Once you have an idea of the most suitable broker for you, just read on to discover the two simple steps to take to start forex trading, along with some key terms and strategies to help you hit the ground running. With a combination of competitive spreads, a wide range of investment offerings, and top-of-the-line research tools and educational materials, FOREX. com deserves the attention of any trader — novice or veteran. The website is easy to navigate and transparent about all its fees and services.

The broker offers a variety of platforms, including MetaTrader 4, MetaTrader 5, and its own proprietary desktop and web-based platforms — along with a user-friendly mobile app. All of the platforms support quite advanced charting tools and offer access to numerous technical indicators — with the proprietary desktop platform standing out with over indicators at your disposal.

As far as education goes, FOREX. com has a weekly webinar — Foundations of Forex Trading, which will help novice traders find their feet. On top of that, the brokerage also offers over educational articles, as well as a variety of educational videos and platform tutorials. Globally, FOREX.

On top of forex, which we will get to next, forex. com offers ETFs, commodities, stocks, indices, gold and silver, and cryptocurrencies, making it suitable for a range of investors. Interested in opening an account with FOREX. The broker has a low initial minimum deposit of of the selected base currency. Though it recommends that a deposit of 2, is made so that clients have more flexibility in their trading.

Furthermore, FOREX. com provides dealer execution and does not rely on third parties to initiate trades. com offers higher quality trades for this reason. Investor Warning: Please note that foreign exchange and other leveraged trading involves significant risk of loss.

It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary. Pepperstone is an Australian forex broker offering a collection of CFDs too. Beyond India, Pepperstone is one of the top forex brokers in the world. Professional traders in India will gain access to a leverage of , while retail can access leverage at However, it is strongly advised to carefully consider a leverage that is suitable for your needs and goals, as trading on leverage is dangerous.

In total, Pepperstone offers a strong range of over instruments, including both CFDs and cryptocurrencies. Pepperstone offers a vast forex selection, and a standard selection of CFDs, and some cryptocurrencies including, Bitcoin, Ethereum, Litecoin, and Dash against the USD. A range of 70 currency pairs are offered, but leverage levels cannot be altered which is a drawback. In short, the broker charges no inactivity fees or withdrawal fees. Further, Pepperstone does charge forex and non-trading fees, but these are low in comparison to competitive brokers in India.

Traders should watch out for its potentially high CFD financing rates. When it comes to accounts, the two most popular accounts are the Razor and the Standard.

The Razor account offers spreads starting from 0. Pepperstone provides a responsive and effective customer support team 24 hours a day. Think Pepperstone could be the broker for you? Risk warning: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

Founded in and based in Ireland, AvaTrade is a CFD broker offering low spreads on over financial instruments. AvaTrade is regulated across five continents. AvaTrade offers five account types with spreads and fees varying depending on the account. The AvaTrade Account BVI provides access to 55 currency pairs with fixed spreads, plus CFDs on cryptocurrency, indices, stocks, bonds and commodities. AvaTrade does accept MetaTrader EAs, apart from ones that focus on arbitrage.

Spreads with this account start at 0. There is a leverage provided with this account of This broker offers standard trading and non-trading fees.

Avatrade offers no guaranteed stop losses or volume discounts. An AvaTrade account can be opened quite quickly and easily, and the customer support team provides helpful advice over phone, email or live chat, in several languages. OctaFX offers the standard MetaTrader and cTrader, and a range of tradable instruments but it does lack regulation beyond its European license in Cyprus, which does place it at a disadvantage when compared with the other forex brokers mentioned in this review.

OctaFx offers 50 tradable instruments including 28 currency pairs, spot trading, 17 CFDs, social trading, but no cryptocurrency.

Here, we guide you through the leading forex brokers in India, along with the most important terms and strategies to know. Tim Fries is the cofounder of The Tokenist. He has a B. in Mechanical Engineering from the University of Michigan, and an MBA from the University Meet Shane. Shane first starting working with The Tokenist in September of — and has happily stuck around ever since.

Originally from Maine, All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team.

Neither our writers nor our editors receive direct compensation of any kind to publish information on tokenist. Our company, Tokenist Media LLC, is community supported and may receive a small commission when you purchase products or services through links on our website. Click here for a full list of our partners and an in-depth explanation on how we get paid.

Is forex trading in India even legal? First off, yes—forex trading in India is legal —with some restrictions, of course. If done through a registered broker, traders can access and trade almost all currency pairs. In terms of the ongoing COVID pandemic, the State Bank of India has reported that India has dealt with cases better than expected.

Additionally, India has experienced an accelerated economy, as of September. At the same time, a Biden presidency is predicted to create a positive environment for businesses with corporate profitability and international supply chains.

This sets up a positive outlook for the forex trading environment in India. So, next things next—finding a regulated and safe forex broker to protect you from scams and fraud.

In this review, we take you through the leading, registered forex brokers in India. Once you have an idea of the most suitable broker for you, just read on to discover the two simple steps to take to start forex trading, along with some key terms and strategies to help you hit the ground running.

With a combination of competitive spreads, a wide range of investment offerings, and top-of-the-line research tools and educational materials, FOREX. com deserves the attention of any trader — novice or veteran. The website is easy to navigate and transparent about all its fees and services.

The broker offers a variety of platforms, including MetaTrader 4, MetaTrader 5, and its own proprietary desktop and web-based platforms — along with a user-friendly mobile app. All of the platforms support quite advanced charting tools and offer access to numerous technical indicators — with the proprietary desktop platform standing out with over indicators at your disposal.

As far as education goes, FOREX. com has a weekly webinar — Foundations of Forex Trading, which will help novice traders find their feet. On top of that, the brokerage also offers over educational articles, as well as a variety of educational videos and platform tutorials.

Globally, FOREX. On top of forex, which we will get to next, forex. com offers ETFs, commodities, stocks, indices, gold and silver, and cryptocurrencies, making it suitable for a range of investors.

Interested in opening an account with FOREX. The broker has a low initial minimum deposit of of the selected base currency. Though it recommends that a deposit of 2, is made so that clients have more flexibility in their trading. Furthermore, FOREX.

com provides dealer execution and does not rely on third parties to initiate trades. com offers higher quality trades for this reason. Investor Warning: Please note that foreign exchange and other leveraged trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary. Pepperstone is an Australian forex broker offering a collection of CFDs too.

Beyond India, Pepperstone is one of the top forex brokers in the world. Professional traders in India will gain access to a leverage of , while retail can access leverage at However, it is strongly advised to carefully consider a leverage that is suitable for your needs and goals, as trading on leverage is dangerous. In total, Pepperstone offers a strong range of over instruments, including both CFDs and cryptocurrencies.

Pepperstone offers a vast forex selection, and a standard selection of CFDs, and some cryptocurrencies including, Bitcoin, Ethereum, Litecoin, and Dash against the USD. A range of 70 currency pairs are offered, but leverage levels cannot be altered which is a drawback. In short, the broker charges no inactivity fees or withdrawal fees. Further, Pepperstone does charge forex and non-trading fees, but these are low in comparison to competitive brokers in India.

Traders should watch out for its potentially high CFD financing rates. When it comes to accounts, the two most popular accounts are the Razor and the Standard. The Razor account offers spreads starting from 0. Pepperstone provides a responsive and effective customer support team 24 hours a day. Think Pepperstone could be the broker for you? Risk warning: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. Founded in and based in Ireland, AvaTrade is a CFD broker offering low spreads on over financial instruments. AvaTrade is regulated across five continents. AvaTrade offers five account types with spreads and fees varying depending on the account. The AvaTrade Account BVI provides access to 55 currency pairs with fixed spreads, plus CFDs on cryptocurrency, indices, stocks, bonds and commodities.

AvaTrade does accept MetaTrader EAs, apart from ones that focus on arbitrage. Spreads with this account start at 0. There is a leverage provided with this account of This broker offers standard trading and non-trading fees. Avatrade offers no guaranteed stop losses or volume discounts. An AvaTrade account can be opened quite quickly and easily, and the customer support team provides helpful advice over phone, email or live chat, in several languages.

OctaFX offers the standard MetaTrader and cTrader, and a range of tradable instruments but it does lack regulation beyond its European license in Cyprus, which does place it at a disadvantage when compared with the other forex brokers mentioned in this review. OctaFx offers 50 tradable instruments including 28 currency pairs, spot trading, 17 CFDs, social trading, but no cryptocurrency.

The commission charged by OctaFx varies depending on the account type chosen: MT4 Micro, MT5 Pro, or the cTrader ECN account. The cTrader account offers 28 forex pairs and two metals.

This brings the total costs to around 1 pip. OctaFx offers traders in India a mobile trading app with copy-trading features, a library of educational material, with 19 primary articles, and a standard selection of research tools. Overall, OctaFx is suitable for beginners looking to educate themselves, traders on the go, and those looking for fixed spreads.

Yes, forex trading is legal in India. It is not legal to undertake forex trading through any electronic or online forex trading under any circumstances on Indian Territory, as guided by SEBI and regulated by RBI in order to minimize risk incumbent in the forex market.

However, forex trading is legal when it is done through specified foreign exchange trading platforms with Indian Rupee as the base currency. In other words, the Indian Government limits trading for Indian residents to only trade currency pairs that are bench-marked against Indian Rupee. Therefore, Indian residents can trade so long as they do so through a specified Indian brokerage that provides access to exchanges based in India such as the BSE, NSE, MCX-SX, in addition to currency derivatives, forex trading is completely legal.

Pre December , Indian residents could only legally trade USD-INR, GBP-INR, EUR-INR, JPY-INR. Post December , exchanges can offer cross-currency futures and exchange traded currency options in three or more currency pairs, such as USD-JPY, GBP-USD, EUR-USD. At this point, it must be highlighted that under the Foreign Exchange Management Act FEMA , traders could be fined or even end up in prison if illegal forex trading takes place in India.

However, it should also be noted that there is absolutely no prohibition for NRIs to forex trade in India. Learn how to buy shares in India. India has dealt with confirmed COVID cases better than originally predicted , a report by the State Bank of India SBI Ecowrap found. Another SBI report referencing the economy stated that it began accelerating in September. The report added that the state-wide number and economic performance does vary across states like Karnataka, Maharashtra, Kerala, Andhra, Delhi, West Bengal, Chhattisgarh, and Tamil nadu which are not doing so well in terms of managing COVID It goes on to state that Bihar, Attar Pradesh, and Jharkhand, along with some others, have managed the situation well with model cases estimated to be higher than actual cases.

Currently, the central bankers in India are being challenged with how to maintain monetary policy independence while allowing a steady stream of foreign capital and holding a stable currency. The recent inflation spike in India resulted in the RBI holding back from lowering interest rates, despite the economic forecast predicting a shrinking economy.

The RBI has essentially let the rupee appreciate to appease investors on the hunt for riskier assets, adding a headwind for its declining export sector. At the same time, with the U. elections now behind us, a Biden presidency will likely create a more predictable trade backdrop , which is positive for businesses with corporate profitability and international supply chains.

As we just noted, forex trading is legal in India, but you can only trade currency pairs that include the Indian Rupee. A key reason behind this limitation is because the Indian Rupee is weak against the USD. If traders in India want to buy the USD they must do so from the Central Bank of India.

Traders based in India can trade forex on the National Stock Exchange NSE , the Metropolitan Stock Exchange MSE , or the Bombay Stock Exchange BSE. In , the Securities and Exchange Board of India SEBI was established to monitor and regulate the forex market in India.

SEBI is the concerned authority in India that protects forex traders, securities issuers, and forex-regulated agencies. Forex brokers offering their services to India residents, therefore, must be regulated by SEBI.

Axis Direct review Axis Direct offers a 3-in-1 trading account to help you diversify your portfolio. However, your broker must be registered and regulated with SEBI to do this. Moreover, with its faster trade execution processes, FXTM enables you to make informed trading decisions. com is a multi-regulated forex broker available online. The cTrader account offers 28 forex pairs and two metals. Furthermore, we have a zero-tolerance policy regarding any level of plagiarism or malicious intent from our writers and contributors. XM is part of Trading Point Holding, a global CFD and FX broker that was founded in

Categories:

• Forex
• Binary Options online
• Forex Bitcoin
• Forex Brokers
• Binary Options