Forex Brokers in India
Recognizing the best forex brokers is not just a matter of making sure of its security and basic trading features. You may need to compare some of them to have more clarity when browsing through some information on forex brokers.
The table below provides what may be necessary for your journey in finding the most ideal broker. Remember to always put your conditions at the front when choosing a forex broker.
Scroll for more details
If you are interested to open an account in one of the brokers in the list above, make sure to try the forex demo account before proceeding to register in the live account.
FAQ
What is the best forex broker in India?
Finding the best forex broker in India is not much different from choosing the right broker in general. Aside from making sure that the forex broker is available for client registration from India, you need to check its regulation, minimum deposit, spread, leverage, payment methods, and other trading-related aspects that may affect your strategy. Furthermore, make sure that the broker has a good credibility and reliable customer support.
Where can I trade forex in India?
The list in this page can be a good reference if you look to trade with in India. We have sorted specific forex brokers that accept clients from India, so you can choose one of the brokers by comparing their minimum deposit, regulation, leverage, and rating. If you are interested to learn further about a certain broker, feel free to click the review button.
What is the best forex broker for beginners?
If you are a beginner and looking for the right broker to trade forex in India, some aspects that you need to pay attention to are the low minimum deposit, demo account, and educational features. Apart from that, it's also better to make sure that the broker has good customer service because as a beginner, you may need to consult about broker services that still seem incomprehensible to you.
Additional FAQ
Is forex trading allowed in India?
The brief answer to this question is: yes, forex trading is allowed in India. But, forex trading in India comes with a lot of restrictions.
The Reserve Bank of India (RBI) regulates forex trading in its duty as overseer of foreign exchange transactions in India, along with the Securities and Exchange Board (SEBI) as the regulator of the Indian stock market and forex brokers. The RBI launched the Foreign Exchange Management Act (FEMA) in 1999 as a legal framework for forex trading activities in India. However, according to the law, Indian forex brokers are only allowed to provide four currency pairs and three exchange-traded currency options.
Continue Reading at Top Forex Brokers in India
What brokers are considered good for Indian traders?
These brokers have been selected based on a comprehensive analysis of various factors, ensuring they provide a well-rounded and beneficial trading experience for Indian traders:
- Interactive Brokers: Has a physical office in Mumbai.
- Exness: Support Hindi language.
- XM: Support local bank transfers.
- Admirals: Has local phone number and e-mail.
- FP Markets: Support deposit using INR.
- HF Markets: Offer promotions and bonuses for Indian clients.
Continue Reading at Top Forex Brokers in India
What trading instruments are legally allowed in India?
The pairs allowed for trading in India are USD/INR, EUR/INR, GBP/INR, and JPY/INR. There's also EUR/USD, GBP/USD, and USD/JPY as an extension of the four main pairs. So, what if someone wanted to trade other pairs such as, say, AUD/USD?
Retail traders could not legally do that with SEBI-regulated forex brokers. Therefore, Indian residents could only gain access to wider opportunities by opening accounts with foreign forex brokers.
Continue Reading at Top Forex Brokers in India
What criteria we can use to determine a good Indian broker?
- Does the broker support Indian local currency?
- Does the country's regulatory body license it?
- Is the Indian language on the website available?
- Does it have a physical office in India?
- Does it support local deposit and withdrawal options?
- Does it have an Indian phone number or email?
- Does it have a local webinar program or seminar for Indian traders?
- Does it provide bonus/promotion programs for Indian clients?
You don't have to look for a broker with all the characteristics above. In fact, brokers with 3-4 criteria are already sufficient for Indian traders; just make sure the brokers at least support INR account currency.
Continue Reading at Top Forex Brokers in India
Country
Broker Categories