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The Top 10 Best Forex Brokers in India revealed. We have rated and reviewed the best Forex Brokers accepting Indian Traders. This is a complete listing of The 10 Best Forex Brokers in India. In this in-depth write-up you will learn:. The Indian rupee INR is the currency of India. The Indian rupee INR is managed and printed by The Reserve Bank of India RBI. Overall, XM. com is considered a trustworthy broker with average risk with spreads as low as 0.

XM Group is not a publicly-traded company but is authorized by two tier-1 regulators high trust. Rated 68 of Recommended FX Brokers. Minimum Deposit. Islamic Account.

Trading Fees. Overall, Avatrade is considered a low-risk and can be summarised as a trustworthy forex broker. Regarding spread and security, Avatrade guarantees fast trading speeds and secure trading conditions. In terms of users , Avatrade has more than registered clients globally. Rated 1 of Recommended FX Brokers. It is regulated by one tier-1 regulator highest trust and three tier-2 regulators medium trust. Rated 6 out of 66 Recommended FX Brokers. Overall, eToro can be summarised as a credible and trustworthy broker and is considered low-risk with competitive trading fees and spreads.

Etoro has an overall trust score of 91 out of eToro offers a world-class social trading platform with immediate order execution. Rated 20 of Recommended FX Brokers. Overall, FXTM can be summarised as a trustworthy broker that provides Contracts for Difference CFDs and trading facilities on shares, forex, commodities, cryptocurrencies , ETFs, options, and indices to a global market. Rated 32 of Recommended FX Brokers. Overall, FP Markets is considered a low-risk and can be summarized as trustworthy and reliable.

FP Markets is fully licensed and regulated by the Securities Commission of the Bahamas SCB. FP Markets is currently one of the top-rated platforms , ranked 13 out of Overall, XTB can be summarised as a trustworthy broker with a reputable reputation that provides Contracts for Difference CFDs and trading facilities on shares, forex, commodities, cryptocurrencies, ETFs, options, indices, and user-friendly trading conditions to a global market.

Rated 69 of Recommended FX Brokers. FBS can be summarised as a trustworthy broker with a good reputation that provides Contracts for Difference CFDs and trading facilities on shares, forex, commodities, cryptocurrencies, ETFs, options, and indices to a global market. FBS offers quality education material, friendly trading conditions, and research tools. Rated 71 of Recommended FX Brokers.

Overall, HYCM can be summarized as a trustworthy broker that offers excellent customer support, a wide selection of market instruments, and technologically advanced programs to assist traders with maximizing funds and developing trading skills. Rated 36 of Recommended FX Brokers. Overall, OctaFX can be summarised as a trustworthy and worthwhile broker with a trust score of 90 out OctaFX is very competitive in terms of its trading fees, with low spreads rounding off its offerings.

Rated 8 of Recommended FX Brokers. Traders need to understand and remember that CFDs are leveraged, complex products that may be accompanied by the risk of incurring losses that may exceed the initial deposit of the trader. Traders need to ensure that they understand their risk exposure and they need to determine whether the risk involved is suited to them before making trading decisions that could result in loss of capital.

According to research, XM is the most popular broker choice in India. Forex trading in India falls under the regulatory authority of the Securities and Exchange Board of India. JP Markets offers a welcome bonus to all new traders who choose to register for a real account. JP Markets is considered a low-risk and can be summarized as trustworthy and reliable. JP Markets is regulated by the top-tier Financial Services Board, Based. Overall IW Bank offers numerous investment prospects for their clients, and allows them to invest in equities and bonds.

IW Bank clients may experience different fee structures according. com does not offer a sign-up bonus for first-time sign-ups or beginner traders. No sign-up bonus, deposit bonus, or welcome bonus is offered to traders.

The Minimum Deposit for 1st-time traders might vary based on. com offers Spreads and commissions vary according to the account type that the trader is using. RSS Feed. Top 4 Brokers. Read Review. Open a Free Trading Account.

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CFD Trading. Case Studies. Helpful Guides. Trading Courses. Select Language. Русский English ไทย Svenska Brazil Portugal Polski Suomi India Indonesia Pakistan Melayu Bangladesh. Published by Usman Ahmed, MBA Researcher. While dealing with the high national poverty rate remains a challenge, many aspiring Indians have taken up day trading as a way to improve their lot in life.

However, the Reserve Bank of India has imposed strict restrictions due to safety concerns involved in forex trading. It now depends on you, whether you prefer sticking to the national regulatory framework concerning forex, or you choose to sign-up with some reputable international forex brokers that are equally safe.

Plus is a UK-based broker known for providing premium trading solutions to its clients all around the world. With over , active customers and a traded volume of more than one trillion US Dollars, the broker remained one of the top favorite forex brokers in Being diversified, the Plus company offers easy-to-navigate trading platforms, along with multiple trading tools and technical indicators for a seamless trading experience.

Using trailing stops and negative balance protection, clients of Plus become well equipped to deal with the uncertain market conditions. Offering absolute reliability, the broker ensures instant order filling along with competitive pricing options. Traders can choose between multiple methods available to fund their accounts or withdraw profits.

Round the clock customer support helps clients to get their issues resolved on time. Read: Plus Review. com is a multi-regulated forex broker available online.

The broker is in the business for more than two decades. com also offer competitive spreads along with fast-paced trading platforms. With low deposit accounts, traders with limited funds can go for instant sign-ups. Tailoring the needs of clients, the broker offers four types of accounts, allowing traders to choose the one that fits their needs. Cash rebate offers, real-time price quotes, and in-depth market analytics are some premium services offered by the Forex.

Rich educational library, intuitive trading platforms, and a variety of trading resources help clients to trade with confidence. com round the clock customer support makes things even more convenient. Read: Forex. com Review. IG is the most reputable forex broker of the modern age. Clients seeking multiple trading solutions under one roof might find IG to be their ultimate destination.

Whether it is about user-friendly trading platforms or low-cost spread betting, IG has no comparison at all. Investment in the crypto10 index provides traders to manage their crypto portfolios more effectively at IG. Advanced technical tools and latest forex indicators help traders to rule the market with confidence. IG offers multiple trading platforms in addition to ProRealTime to make traders well equipped when it comes to trading with the industry-standard advanced trading platforms.

Read: IG Trading Review. HotForex is an award-winning forex broker offering trading services around the globe. The broker is known for low-cost trading solutions. Being the world leader in financial trading, the company offers more than tradable products as well as six types of accounts across 12 trading platforms.

Autochartists tools with advanced market insights allow traders take control of the market irregularities. High volume traders can enjoy direct market access accounts for increased exposure at HotForex. HotForex offers a wide range of educational material to help clients learn every bit of forex trading. With PAMM accounts, traders can subscribe to the fund management service at Hotforex. The interest-free Islamic account, free VPS hosting, and one-touch trading are some of the premium services available at HotForex.

Read: HotForex Review. XM is an online broker that offers trading services in forex, indices, commodities, shares, and metals. With low spreads starting from 0. Besides offering advanced trading tools, XM offers generous leverage of to help clients maximize their trading potential.

The broker has multiple deposit and withdrawal methods that make the payment process quite convenient. XM offers supported trading platforms for both desktop and mobile-based operating systems. XM also offers a demo account enabling traders to improve their trading skills without risking their real funds.

Read: XM Review. Pepperstone is a reliable broker that offers multiple trading solutions under one roof. The broker is well-known for its user-friendly trading conditions and transparent raw spreads. Clients can access a wide range of tradable instruments across different asset classes, including forex, indices, commodities, and crypto CFDs. With a quick sign-up process and fast account verification, the company makes it easier for clients to get started.

Trades have the flexibility to deposit and withdraw funds using multiple available methods, such as debit cards, credit cards, bank transfers, and e-wallet payments. In addition to online access to the available trading platforms, clients can install them on their desktop and mobile phones. Being regulated by ASIC, FCA, and DFSA, the broker is a safe call for forex traders residing in India.

With a range of financial instruments and a competitive fee structure, eToro is the all-time favorite broker of thousands of customers worldwide. Multiple accounts, intuitive trading platforms, tight spreads, and round-the-clock customer support give the broker an edge over its competitors. The broker also offers a customized wallet to store, send and receive digital currencies. The broker also offers decent research and educational resources, helping clients to learn and grow.

AvaTrade is an online forex broker that offers a diverse range of financial derivatives, including forex, stocks, indices, options, ETFs, and cryptocurrencies.

Along with traditional trading platforms, the broker also supports social trading to help clients looking for an easy start. The broker is known for having low-cost trading solutions. With its un-restricted trading conditions, traders can employ both hedging and netting techniques to diversify their trading risks. The broker also offers fast trade execution, helping scalpers to maximize their earning potential. The broker holds regulations across nine regions around the world.

It also offers interest-free Islamic accounts that ultimately make it one of the preferred choices for shariah practicing traders. The broker offers round-the-clock customer support in multiple languages of the world. Rich educational resources, a user-friendly trading interface, and competitive pricing models are some commendable features of the broker. OctaFX is relatively a new addition to the forex industry. However, the broker has managed to attract thousands of clients due to its favorable trading terms.

Besides offering a deposit bonus, the broker also holds promotional contests and giveaways. Both manual and copy trading services are available at OctaFX.

With a range of trading tools, market analytics, and educational resources, clients can trade the market confidently. The broker has a quick account registration process and accepts multiple payment methods for deposits. Traders can also use OctaFX demo accounts to practice different trading strategies without risking their real capital. OctaFX does not charge any commission on deposits and withdrawals. While ensuring minimum slippage, the broker also offers negative balance protection.

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.

Written by Steven Hatzakis Edited by John Bringans Fact-checked by Joey Shadeck. The ForexBrokers. com annual forex broker review six years running is the most cited in the industry. With over 50, words of research across the site, we spend hundreds of hours testing forex brokers each year. Here's how we test. As a general rule, it's best to use a broker regulated in your country of residence. However, due to restrictions on locally regulated financial institutions in India, the only way for local citizens to speculate in the forex market is to use a foreign broker — such as those on our list — that accepts clients who reside in India.

The Securities and Exchange Board of India , or SEBI, is the financial regulatory body in India. The SEBI was established in as a nonstatutory body and given powers with the SEBI Act Read more about SEBI history on its Wikipedia page. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. To find the best forex brokers in India, we created a list of all brokers that accept new customers from India and ranked them by their Overall ranking, calculated during our in-depth annual review of forex brokers.

This exacting analysis of more than variables includes our proprietary Trust Score more on Trust Score below. Compare forex and CFD brokers that are authorised in India, side by side, using the forex broker comparison tool or the summary table below.

This broker list is sorted by the firm's ForexBrokers. com Overall ranking. In addition to our top picks above, we've reviewed and rated several more brokers who accept residents of India as clients, included below. Choosing a regulated broker is crucial for avoiding forex scams, and the country where your broker is regulated is equally important.

Traders should always consider all licenses a broker may hold across its various global entities and brands. Our Trust Score, a proprietary algorithm, ranks those regulatory agencies into three groups, with Tier 1 indicating the most stringent financial regulators and Tier 3 the least strict.

We currently rank SEBI as a Tier 2 Jurisdiction. Our data collection on each broker results in a ranking from 1 to 99 of the broker's overall trust.

The higher a broker's Trust Score, the better. Learn more about Trust Score here. To identify if a forex broker is authorised by the SEBI, the first step is to identify the registration number from the disclosure text at the bottom of the broker's homepage.

For example, here's the key disclosure text from Interactive Broker's website,. SEBI Registration No. INZ; NSDL: IN-DP-NSDL Next, look up the FSP number on the financial register available on the SEBI's website to validate that the broker is currently authorized in India. Yes, but unless you are just exchanging cash at the airport while traveling through India, most SEBI-regulated brokers that offer forex trading will be limited to exchange-traded forex products such as currency derivatives.

non-deliverable spot to Indian residents. Forex trading in India is highly regulated when it comes to the physical exchange of one currency for another where actual, physical delivery of the currency takes place and is legal when done so by a SEBI-regulated broker.

On the other hand, residents of India will have a hard time finding a way to trade non-deliverable spot forex from a margin account. Many residents of India use SEBI-regulated brokers to invest in local exchanges such as the National Stock Exchange NSE and the Bombay Stock Exchange BSE , while foreign brokers that accept clients from India are the only option for investors who are looking to trade forex in India.

Still, if you are a resident of India and you are considering trading forex using a foreign broker, make sure they are highly regulated. Additionally, the Central Bank of India has restrictions in place that can make it difficult to deposit and withdraw funds with foreign forex brokers that are not regulated by the SEBI. Forex, short for foreign exchange, refers to the trading or exchanging that takes place in international currency markets, in which one currency is bought or sold in return for another foreign currency.

The goal for forex traders — and it's a tricky one — is to profit by accurately predicting fluctuations in value. There are various types of participants in the forex markets: retail and institutional traders, large corporations, banks, and central banks that help regulate monetary policy, such as when printing money that enters circulation. There are at least two sides to every forex trade.

On one side is a buyer, and on the other side a seller. Forex market participants either have a need for the particular currency, such as for business use or hedging risk; or are speculators taking an investment position expecting the price to move in a favorable direction. For example, let's say you have U.

dollars and expect their value to go down and want to sell them in order to buy euros for an upcoming trip to Europe. Or maybe you expect the euro price to go higher relative to the U.

dollar and are looking at it as an investment. Either way, you pay for the euros with your U. dollars and agree to exchange the dollars you have for the euros at a specific price the price can be quoted either in euros per dollar, or dollars per euro. Such a trade can result either in a profit, loss, or break-even, depending on the price when you exit the trade and any fees incurred.

Commonly traded forex pairs include the euro and U. Forex trading is mostly decentralized, though it does take place on regulated exchanges. In most developed countries forex brokers must hold proper licenses with financial market regulators, to help ensure compliance with local laws and regulations.

As with most forms of trading or investing, forex carries risk. This includes the broker's integrity and reliability, but also its level of capitalization and its financial capability to protect itself and the money they hold on your behalf, especially in the extraordinary event of a market anomaly.

To trade forex as a resident of India, you will either be working with a SEBI-regulated broker that offers exchange-traded currency derivatives or with a foreign broker preferably regulated and trustworthy that offers retail forex from a margin account.

IG is our top pick for Indian citizens who are looking for a forex broker that offers forex and CFDs, and also accepts residents of India as clients. If you specifically want a broker that is also regulated in India, Interactive Brokers is a top contender, as it is a member of the National Stock Exchange, Bombay Stock Exchange and the Securities Exchange Board of India, or SEBI. However, due to regulatory restrictions, Interactive Brokers does not offer forex or CFDs in India.

If your interests lie in stock trading, Interactive Brokers remains an excellent choice due to its access to local stock exchanges in India and 90 international markets, including bonds, stocks and ETFs including some forex-related exchange-traded products, such as listed currency derivatives.

All of these brokers provide mobile trading apps that feature advanced charting, a rich variety of sophisticated trading tools, and an easy-to-use platform: IG - IG Trading mobile app, IG Academy. Saxo Bank - SaxoTraderGo mobile app. Interactive Brokers - IBKR mobile app and Impact app.

com - FOREX. com mobile app. AvaTrade - AvaTradeGo mobile app and AvaOptions mobile app. IC Markets - MT4, MT5 and cTrader mobile apps. com - Capital. com mobile app, Investmate app, and MT4.

smartphone Pro tip:. Like to trade forex on the go? Though Zerodha is regulated in India, it only offers currency derivatives including forex futures and options on currency futures that are listed on regional exchanges such as the NSE and BSE. Like most brokers that are regulated in India, Zerodha does not currently offer traditional spot forex trading from a margin account. That said, Zerodha and internationally regulated brokers such as Interactive Brokers do offer currency derivatives on the NSE in India, including futures and options on the following pairs for cross currencies — including pairs that contain the Indian Rupee INR :.

OctaFX is not a SEBI-regulated broker, and the brand has attracted attention locally after sponsoring the IPL Cricket Team in Delhi in , and appearing on the Financial Conduct Authority FCA RBI alert list alongside other popular brokers — many of which are regulated in countries outside of India. The RBI's latest alert list was updated to include numerous international brokers, some of which are highly regulated, and some that may lack regulatory licenses of any kind.

The Reserve Bank of India RBI periodically puts out Financial Conduct Authority FCA warnings to the public about foreign brokers that are not regulated in India by the SEBI. According to the RBI, the list identifies entities that are not authorized to to operate electronic trading platforms under the Electronic Trading Platforms Reserve Bank Directions, , or to deal in forex under the Foreign Exchange Management Act, FEMA.

According to the research we conducted for our full-length review of OctaFX, OctaFX is considered a high-risk broker with a Trust Score of 67 out of Was this helpful? Yes or No. For our Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a three-month time period resulting in over 50, words of published research. Each broker was graded on different variables, including our proprietary Trust Score algorithm.

This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure. Read about Trust Score here. As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.

Ultimately, our rigorous data validation process yields an error rate of less than. Learn more about how we test. There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks. Steven Hatzakis is the Global Director of Research for ForexBrokers.

Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry.

A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U. as a Commodity Trading Advisor CTA. John Bringans is the Senior Editor of ForexBrokers. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets.

Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.

Content should avoid making claims or recommendations that would put readers financial well-being at risk. Buy Amazon Stock Buy Apple Stock Buy Tesla Shares Buy Google Shares Buy Pfizer Stocks Buy Facebook Shares Buy Mastercard Stocks Buy Microsoft Stocks Buy Coca Cola Stocks Buy Visa Stocks Buy Intel Stocks Buy Nike Stocks Buy Nvidia Shares Buy Netflix Stocks. The company is also listed on the London Stock Exchange, which adds an additional layer of regulatory scrutiny. Cash rebate offers, real-time price quotes, and in-depth market analytics are some premium services offered by the Forex. With a quick sign-up process and fast account verification, the company makes it easier for clients to get started.

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