Forex Brokers in India

Forex brokers which are active in India are regulated by the watchful eye of the Securities and Exchanges Board of India (SEBI). It is an regulatory authority that follows up the activity of the stock markets and online brokers. While the Reserve Bank of India (RBI) is in charge of the Indian rupee, the local official currency of the country, the officials are not responsible for forex broker operating on the country’s grounds. 

Despite the rather easy-going regulation to investment, retail forex brokerage are rather hard to find and most brokers with representative offices inside India are subsidiaries or branches of huge global companies. Even those are very scarce at the moment and requires definite improvement. On top of that, Reserve Bank of India does everything in its power to ban forex trading by individual investors. Apparently, there are fines and legal charges against currency trading. 

With that being said, a large number of forex traders come from India. They choose to trade Forex with foreign brokers and do their best to hide their money transactions from the bank with alternative payment options such as Paypal, Skrill, Bitcoin and other online wallets. 

For forex investors interested in finding most reliable brokers online in 2023, this section has gathered a list of such for your convenience. Now you can just browse through our selection of the world’s most reputable and trusted forex brokers and choose the one that is most suitable for your first steps in trading career. Beginnings are tough and we honestly hope that this website helps you to make the selection process faster and easier.

You  can be from anywhere on the planet and still find Forex Brokers to trade with. For traders interested in Rupees against other major currencies, we have great news – almost all forex brokers offer this pair without any kind of restrictions! This is a great opportunity to work on your strategy for Indian money. 

Below you can find the comparison of Forex Brokers that accept registrations from India. You can check and compare the best Brokers and their features, payment methods, trading platform, minimum deposit requirement and many other important characteristics. 

Comparison of India Based Trading Broker Online

When you review several different Forex Brokers, it is necessary to know which features are more important than others and which trading conditions are entitled for your full attention. Your trading career depend on the right choices you make when you choose a brokerage firm to trade with.

What are the main features of any Broker you need to pay real attention to?

Easy and Fast Payouts – we think that payment methods are extremely important. When the broker makes an afford to provide the clients with lots of payment methods to choose from and doesn’t make it difficult to withdraw the money (there is always no problems with deposits, though!), this earns extra points! Being able to easily withdraw from the Forex Broker and receive your money fast is one of the features you must look for.

Skip the Brokers that apply minimum withdrawal amounts or come up with billion reasons not to process your withdrawal requests. For example, some would ask for identity proof over and over again to delay the withdrawal. Some will impose a rule that you can withdraw money only on a specific day of the month. Well, you got the picture. 

Before you start trading in the global forex and currencies, you have to first check your requirements, risk-taking capacity, and regional laws and regulations.

In India, there are specific laws to trade in currencies and forex, and hence you should be aware of that. You can also learn the strategies which can be helpful for you to go on with the trade.

You need to pay a minimum deposit amount while opening a margin account. The deposit amount ranges from $5 to $200 and varies from broker to broker.

All you need is to find a forex broker that asks for a reasonable deposit amount corresponding to the services provided.

Regulated Brokers – There might be no official regulation in India when it comes to forex trading, however it should discourage you from looking and choosing a regulated Forex Brokers to trade with. After all, the regulation, even offshore, can help in case the brokerage mistreats you in any way.

The financial regulators can be the U.K.’s Financial Conduct Authority (FCA), Cyprus’ Securities and Exchange Commission (CySEC), or any other country-specific regulator with strict regulations.

Whilst there are no licensing authorities in India who license and regulate Forex Brokers you will find that there are many other countries who do have a legal framework to licensed Forex Brokers.

Variety of Currency Pairs – You want to be able to widen your horizon and choose as many options as you want. Why should you limit yourself just to EUR USD GBP and JPY? What if you decide to trade Bitcoin against other major currency pair? The amount of currency pairs available with your Forex Broker is an important factor to consider when reviewing your options. 

Leverage offered – Leverage or margins help you trade a larger volume on a fraction of your money. For example, if you have a leverage of 1:100 means that with $1000 in your account you can enter a trade worth $100,000.  

There are forex brokers offering leverage up to 1:1000 levels. Leverage is like a double edge sword. They can help you earn plenty or lose huge amounts if the price movement is adverse.  Prudent practice suggests that you should always use appropriate leverage in line with your trading strategy and risk capacity.

Trading Platforms –  MetaTrader 4 and 5 trading platforms are the popular global forex trading platforms. Both platforms support automated trading.

Other commonly used forex trading platforms are cTrader and Ninja Trader.

Your forex broker should provide MetaTrader 4/5 or their own proprietary trading platform. 

Top Rated India Forex Brokers (Updated for 2023)

This section of the site provides our visitors with the best Forex Brokers you can open trading account with. Below you can check out the thorough reviews of the top rated India based Forex Brokers.

Compare Forex Brokers
BrokerMin DepositPlatformsPaymentsLeverageRegulation
eToro1http://partners.etoro.com/A11108_TClick.aspx2002-https://www.forexexplore.com/forex-brokers/etoro-revieweToro PlatformnoyesCredit Cards, Debit Cards, Paypal, Neteller, Skrill, Webmoney, Wire Transfer1:30; 1:1 for Crypto CurrenciesEnglish, Spanish, Italian, Portuguese, Russian, Chinese, Arabic, GermannoyesCySec, NFAyesyes101000
AGEA0https://www.forexexplore.com/forex-brokers/agea-reviews13$5 no-deposit bonushttps://www.forexexplore.com/forex-brokers/agea-reviewsStreamster, MetaTrader 4yesyesCredit Cards, Wire, Skrill, Webmoney, e-Dinar, Neteller, FasaPay, Perfect Money1:500Englishnoyes101001
AvaTrade7http://www.avatrade.com/?tag=15741001100% yeshttps://www.forexexplore.com/forex-brokers/avatrade-reviewAvaTrader, MetaTrader 4, MetaTrader Floating Spread, Mac Trading, Web Trading, Mobile Trading, Automatic Trading, AvaOptionsyesyesCredit Cards, Debit Cards, Skrill, Wire Transfer, PayPal, Neteller, WebMoney1:400English, Chinese, Arabic, Spanish, French, Italian, Portuguese, German, IndonesiannoyesCentral Bank of Ireland, ASIC, Financial Services Commission of British Virgin Islandnoyesnoyesyesyes101011
CMCMarkets2https://www.forexexplore.com/forex-brokers/cmc-markets-review10.7-https://www.forexexplore.com/forex-brokers/cmc-markets-reviewNext Generation web-basedyesnoCredit cards, Wire Transfer500:1English, Chinese, French, Spanish, GermannonoFCAnonono100001
Tifia1https://tifia.com/102.5https://www.forexexplore.com/forex-brokers/tifia-reviewMetatrader 4, webtraderyesyeswire transfer, credit cards, skrill, neteller, perfect money, fasapay, okpay1:1,000noyesVanuatu Financial Services Commission VFSCyesyesnoyes110001
LiteFinance8https://www.litefinance.com/?uid=90000284110330% + 15%yeshttps://www.forexexplore.com/forex-brokers/liteforex-reviewMetatrader 4, Metatrader 5, WebTerminalyesyes Skrill, Webmoney, Bitcoin, Advcash, Credit Card1:500English, Russian, Chinese, Malaysian, German, Arabic, Partugese, Spanish, French, Hebrew, Japanese, Greek noyesCySEC, Marshal Islands Business Corporation Act.yesnoyesyesyesyesyesyesyes111001
InstaForex7https://www.instaforex.com/?x=JR10.6$100 No Deposit Bonusyeshttps://www.forexexplore.com/forex-brokers/instaforex-reviewMetaTrader 4, Metatrader 5, WebtraderyesyesSome local Bank transfers, PayCo, AstroPay, Cryptocurrency1:1,000English, RussianyesyesRAFMMyesyesyesyes111001
Dukascopy4https://www.forexexplore.com/forex-brokers/dukascopy-reviews2500.5-yeshttps://www.forexexplore.com/forex-brokers/dukascopy-reviewsDukascopyyesyesWire, Bank Guarantee, Standby letter of Credit Segregated Accounts1:500English, French, German, Russian, Spanish, Chinese, Japanese, ArabicKPMG ARIFyes110101
RealTrade1http://realtrader.org/203 30% welcome bonushttps://www.forexexplore.com/forex-brokers/realtrade-reviewsMetaTrader 4noyesCredit Cards, WebMoney, and Wire Transfer1:500English, Russiannononononoyes000001
FxPro5https://www.forexexplore.com/forex-brokers/fxpro-review1000.5up to $1,000yeshttps://www.forexexplore.com/forex-brokers/fxpro-reviewFxPro cTrader, FxPro cTrader Web, MT4 Client Terminal, MT4 MultiTerminal, MT4 WebTrader, MT4 Premium yesyesCredit/Debit Card, Bank Wire, PayPal, Neteller, Skrill 1:500Arabic, Chinese, English, French, German, Greek, Hungarian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish and Vietnamese nonoFCA, CySECyesyesnoyes101011
FXOpen1https://www.fxopen.com/12$100https://www.forexexplore.com/forex-brokers/fxopen-reviewsMetaTrader 4noyesWire, WebMoney, AlertPay, CashU, c-gold, PerfectMoney1:500EnglishnonoASIC, FCA UK, Financial Dispute Resolution Schemeyesyesnoyesyes111001
PrimeXBT4https://go.primexbt.com/click?pid=2298&offer_id=121https://www.forexexplore.com/forex-brokers/primexbt-reviewPrimeXBT, TurboyesnoCredit Cards1:1000yesASICyesyesyesyes000001
ActivTrades2https://www.forexexplore.com/forex-brokers/activtrades-reviews1002https://www.forexexplore.com/forex-brokers/activtrades-reviewsMetatrader 4, ActivtraderyesyesCredit Card, Wire transfer, neteller, skrill, sofort1:400English, German, Spanish, Italian, French, PortuguesenonoFCA100001
House of Borse1https://www.forexexplore.com/forex-brokers/house-of-borse-review500000.8https://www.forexexplore.com/forex-brokers/house-of-borse-reviewMetaTrader 4noyescredit cards, wire transfer1:100nonoFCA UKyesyesyes100000
FXDD3http://www.fxdd.com/1002-https://www.forexexplore.com/forex-brokers/fxdd-reviewsMetaTrader4, FXDD Trader, Power Trader, FXDD Auto, MTXtremenoyesWire, PayPal, Check, BPS 1:200English, Chinese, Japanese, Russian, Spanish, Portuguese, German, French, Turkish, Arabic, VietnameseyesMalta Financial Services Authority (MFSA)yes111000
FXCM5https://www.forexexplore.com/forex-brokers/fxcm-review2502-yeshttps://www.forexexplore.com/forex-brokers/fxcm-reviewTrading Station II, MetaTrader 4, Active Trader, Forex System Selector noyesCredit/Debit card, Online Check, Bank Wire, Paper Check1:200Spanish, French, Chinese, Russian, Portuguese, German, Italian, ArabicyesUK Financial Conduct Authority, AFSL yesyesyesyes101000
Hotforex2https://www.forexexplore.com/forex-brokers/hotforex-review52100% bonushttps://www.forexexplore.com/forex-brokers/hotforex-reviewMetatrader 4, mobile platform, rapid trader fix/apiyesyescredit cards, skrill, Unionpay, neteller, wire transfer, webmoney, fasapay1:1,000nonoyesnoyes001001
Oanda3https://www.forexexplore.com/forex-brokers/oanda-reviews11.4https://www.forexexplore.com/forex-brokers/oanda-reviewsMetatrader 4, FXtradeyesyescheck, Credit cards, PayPal, Wire transfer1:50English, Chinese, German, Spanish, French, Italian, Portuguese and RussianyesnoNFAnononoyesyes100000
Saxo Bank2http://www.saxobank.com50002 n/ahttps://www.forexexplore.com/forex-brokers/saxobank-reviewsSaxoTradernoyesWire1:100English, Belgium, German, French, Spanish, Italian, Arabic, Romanian, Russian, PolishDanish Financial Services Authority and operates in the UAE100000
Forex.com4http://www.forex.com/502-https://www.forexexplore.com/forex-brokers/forex-reviewsForexTrader platform (in-house), MetaTrader 4yesyeswire transfer, Credit/Debit Card, Check1:200English, Russian, Japanese, Arabic, Turkish, German, Chinese, Albanian, Thai, Italian, Hebrew, GreekyesnoCFTC, NFA, FCA (UK), ASIC (Australia), ILLROC (Canada), SFC (Hong Kong), FFAJ (Japan)yesyesnoyes100000
HYCM4https://www.forexexplore.com/forex-brokers/hycm-reviews100225% up to $5,000https://www.forexexplore.com/forex-brokers/hycm-reviewsMetatrader 4nonocredit cards, wire transfer, Skrill, webmoney1:400English, Chinese, ArabicnonoFCA UK, CySEC, SFCnononoyes100011
AdmiralMarkets1https://www.forexexplore.com/forex-brokers/admiralmarkets-reviews103n/ahttps://www.forexexplore.com/forex-brokers/admiralmarkets-reviewsMetaTrader 4noyesWire1:200English, Spanish, Russian, Lithuanian, Romanian, Latvian, Bulgarian, Greek, Croatian, Polish, Hungarian, Czech, Italian, Estonian, German, Finnish, Portuguese001000
Alpari2https://www.forexexplore.com/forex-brokers/alpari-review1250% Welcomehttps://www.forexexplore.com/forex-brokers/alpari-reviewMetaTrader 4noyesDebit or Credit Card, Wire Transfer1:500English, Chinese, German, and Arabicyesyes011001
FinPro Trading2https://www.forexexplore.com/forex-brokers/finpro-trading-review50.07100%https://www.forexexplore.com/forex-brokers/finpro-trading-reviewMetatrader 4, zulutrade, Finopro stationyesyescredit cards, paypal, skrill, wire transfer1:200Englishnoyesnoyesyesyes010000
Fort Financial Services1https://www.fortfs.com53https://www.forexexplore.com/forex-brokers/fort-financial-reviewsMetaTrader 4, CQG, Ninja trader, binary optionsyesyesCredit cards, webmoney, Skrill, Neteller, perfect money, fasapay, wire transfer1:1,000EnglishnonoIFSCyesyesnoyes110001
Blackwell Global2https://www.forexexplore.com/forex-brokers/blackwell-global-review20003-https://www.forexexplore.com/forex-brokers/blackwell-global-reviewMetaTrader 4, Blackwell Pro, Mobileyesyesredit/debit cards, Neteller, Skrill, Wire transfer1:200Arabic, Chinese, English, Greek, Italian, Korean, French, RomanianFinancial Conduct Authority101000
AAAfx2https://www.aaafx.com/3000.2up to 30%https://www.forexexplore.com/forex-brokers/aaafx-reviewsZTP, MetaTrader 4, Binary options webtrader, ZulutradeyesyesWire, Credit Card, Skrill, Neteller, giropay, EPS, directpay24, teleingreso, ideal, qiwi, Bitcoin1:200Arabic, Chinese, English, French, German, Greek, Italian, Japanese, RussiannoyesHCMC (Greece)yes100000
XTB2https://www.xtb.com2502https://www.forexexplore.com/forex-brokers/xtb-reviewsMetatrader 4, xStation, xMobileyesyesCredit cards, Neteller, Paypal, Skrill, Wire transfer1:200nonoCNMV (Spain), FCA (UK), FSA (Poland)yesyesnoyes100000
iFOREX3https://www.forexexplore.com/forex-brokers/iforex-reviews1003-https://www.forexexplore.com/forex-brokers/iforex-reviewsFXnet Traderyesyescredit cards, wire transfer1:400English, Hebrew, Indonesian, German, Spanish, French, Italian, Nederlands, Portuguese, Romanian, Turkish, RUssian, Arabic, Chinese, JapanesenonoHFSA in Hungary, CySECnonono101001
Oinvest0https://kc-welcome.lp-oinvest.co.za/r?hash=_WkFLpV2000.7Samsung Galaxy, iPhonenohttps://www.forexexplore.com/forex-brokers/oinvest-reviewMetatrader 4yesyesSkrill, Neteller, Credit Cards 1:200noyesyesyesyesyesyesyesyesyesyesyes111000
Plus5005https://www.forexexplore.com/forex-brokers/plus500-reviews500230%yeshttps://www.forexexplore.com/forex-brokers/plus500-reviewsPlus500yesnoSkrill, Credit Cards, Wire Transfer1:200English, Hebrew, ArabicIsrael Securities Authority100010
TraderTrust1http://traders-trust.com/100as low as 2100% upto $5,000https://www.forexexplore.com/forex-brokers/tradertrust-reviewsSmartForexnoyesSkrill, Credit Cards1:200English, Russian, Italian, and ArabicCySec, VFCSyes100000
AdvancedMarkets3https://www.forexexplore.com/forex-brokers/advancedmarkets-reviews5000-2.5-https://www.forexexplore.com/forex-brokers/advancedmarkets-reviewsAdvanced Trader/Pro/Prime, Fortex FX noyesWire, Check1:50English, Spanish, KoreanAustralian AFSL, ASICyes100000
XM8http://clicks.pipaffiliates.com/afs/come.php?id=27&cid=3689&ctgid=16&atype=151$30 no deposityeshttps://www.forexexplore.com/forex-brokers/xm-reviewMetaTrader 4, Metatrader 5, XM WebtraderyesyesCredit/Debit Card, Neteller, Skrill, WebMoney, Bank Wire Transfer1:888Arabic, Chinese, English, French, German, Greek, Hungarian, Indonesian, Italian, Japanese, Malay, Korean, Polish, Portuguese, Russian, Spanish, Swedish, Turkish, Thai, VientamesenoCySEC, ASIC Australia, IFSC Belizenoyesyesnoyesno101011
Anzo Capital2https://anzocapital.com/1002https://www.forexexplore.com/forex-brokers/anzo-capital-reviewMetaTrader 4yesyesWebmoney, Skrill, Neteller, Credit Cards1:1000English, Chinesenonoyesyesyesyesyesnonoyesnono110001
MEX Exchange1https://www.mexexchange.com/250.2https://www.forexexplore.com/forex-brokers/mex-exchange-reviewMetatrader 4noyesNeteller, Skrill, Fasapay, UnionPay, Credit Cards, Wire Transfer1:500nonoASICyesyesyesyes110001
FBS1https://www.forexexplore.com/forex-brokers/fbs-review1from 0,2 pips fixed/floating$123 Welcome Bonushttps://www.forexexplore.com/forex-brokers/fbs-reviewMetaTrader 4, Metatrader 5, Webtradingyesyescredit cards, fasapay, Indonesia local banks, Neteller, okpay, perfectmoney, Skrill, Webmoney, wire transfer, Thai local banks, Exchangers, Malaysian banks and Bitcoin by Skrillup to 1:3,000English, Bahasa Indonesia, Bahasa Malyasian, Russian, Spanish, Portuguese, Arabic, Vietnamese, Bengali, Lithuanian, Korean, Chinese, Thai, TamilIFSC; Cysecyesyesyesyes101001
FP Markets3http://go.fpmarkets.com/visit/?bta=35186&nci=5369200starting from 010% credit bonushttps://www.forexexplore.com/forex-brokers/fpmarkets-reviewMetaTrader 4 (MT4), IRESS, Mobile tradingyesyescredit cards, UnionPay, Neteller, Skrill (3% fee), Wire transfer, BPay and broker-to-broker transfer1:500English, Bahasa Melayu, French, Finish, Chinese, Norwegian, Russian, Thai, Italian, German, Portuguese, Spanish and SwedishnoyesASICyesyesyesyesyes110011
DFMarkets3http://www.dfmarkets.co.uk100from 0.1 pips10% Trading Credit Promotion up to $1,000https://www.forexexplore.com/forex-brokers/dfmarkets-reviewsDFTrader, DF WebTrader, DF MobileyesyesBank wire, Credit/Debit cards1:200EnglishnonoFCAnononoyesyes100000
EasyMarkets2http://www.easymarkets.com1002.5https://www.forexexplore.com/forex-brokers/easymarkets-reviewMetatrader 4, EasyMarkets web-based platformyesyescredit cards, neteller, Skrill, Webmney, wire transfer1:100nonoASIC (Australia), CySEC (Cyprus)nononoyes101000
OctaFX9http://octaengine.com/c/?p=566&bt=gif&b=236850from 0.2up to 50%yeshttps://www.forexexplore.com/forex-brokers/octafx-reviewsMetaTrader 4, Metatrader 5, cTraderyesyesNeteller, Skrill, Fasapay, Visa, Mastercard, Malaysian, Vietnamese, Indian, Indonesian, Bangladeshi local banks, Bitcoin, Unionpay1:500EnglishyesFCA UKyesyesyesyesyes110011
IronFX4https://www.forexexplore.com/forex-brokers/ironfx-reviews100040%yeshttps://www.forexexplore.com/forex-brokers/ironfx-reviewsMetatrader 4yesyescredit cards, Fasapay, neteller, qiwi, skrill, webmoney, wire transfer1:500EnglishnoyesASIC, CySEC, DFSA, FCA UK, FSB, UCRFIN, CRFIN, Member of Eurex Exchange, Consob, BaFINyesyesyes110001
FxGlory0https://www.forexexplore.com/forex-brokers/fxglory-review10.550% up to $1,000https://www.forexexplore.com/forex-brokers/fxglory-reviewMetaTrader4, MobilenoyesCredit/debit cards, Paypal, Bitcoin1:3,000Englishyes000001
TrioMarkets0https://www.forexexplore.com/forex-brokers/triomarkets-review1003-https://www.forexexplore.com/forex-brokers/triomarkets-reviewMetaTrader 4, Sirix WebtraderyesyesCredit Card, Wire, Skrill, Neteller, Paypal and CashU1:300English, Arabic, French, Italian, GermannoyesCySECnoyesno101000
CityIndex2http://www.cityindex.co.uk1002-https://www.forexexplore.com/forex-brokers/cityindex-reviewMT4 (MetaTrader 4), Advantage Web, Advantage Trader, iPhone, Android, Windows Phone App, iPad and Tablet AppyesyesCredit/Debit Cards1:400EnglishTrademark of GAIN Capital UK Ltd - Regulated by FCAyesyes100001
Markets.com2https://www.forexexplore.com/forex-brokers/markets-com-review1002up to $2,000https://www.forexexplore.com/forex-brokers/markets-com-reviewMeta Trader 4,MarketTrader, Market WebTrader, Market Java Trader, Market Mobile Trader, Market WAP Trader, Market iTrader, Market AutoTraderyesyesCredit/Debit Cards, Wire Transfer, Webmoney, Local Payments1:200English, French, Spanish, German, Russian, Italian, Chinese, Arabic, Turkish, Portuguese, Japanese, Polish, Greek, Dutch, SwedishCySEC, FSCA South Africa yesyes111000
Orbex0https://www.forexexplore.com/forex-brokers/orbex-review5001.6https://www.forexexplore.com/forex-brokers/orbex-reviewMetaTrader 4noyesSkrill, Neteller, Wire Transfer, Credit Cards, CashU, Webmoney1:500English, Arabic, Bengali, Spanish, German, Russian, Chinese, Bulgarian, Urdu, GreeknonoCySECyesyesno110001
CMTrading4http://go.cmtaffiliates.com/visit/?bta=36085&brand=cmtrading200215% matchhttps://www.forexexplore.com/forex-brokers/cmtrading-reviewMetaTrader 4, Sirixyesyescredit/debit cards, Wire transfer, CashU ,Skrill1:400Financial Services Board (FSB) South Africa100001
AccentForex0https://www.forexexplore.com/forex-brokers/accentforex-review10350%nohttps://www.forexexplore.com/forex-brokers/accentforex-reviewMetaTrader 4noyesWebMoney, OkPay, Skrill, Wire Transfer, Credit Cards1:500English000001
GrandCapital0https://www.forexexplore.com/forex-brokers/grandcapital-review102$500 no deposithttps://www.forexexplore.com/forex-brokers/grandcapital-reviewMetaTrader 4, WebTraderyesyesCredit card, Neteller, Webmoney, CashU, Fasapay, Scrill, Webmoney500:1English, Russian, Chinese, IndonesianyesnoFinancial Commission FinaCom, EDR Hong Kong external dispute resolution organizationyesnono101001
Simplefx1https://simplefx.com11https://www.forexexplore.com/forex-brokers/simplefx-reviewsMetaTrader 4 and in-house web-based platformyesyesWire transfer, Credit/debit cards, Skrill, Neteller, Astropay, Webmoney, FasaPay, Qiwi, Moneta, ru, Yandex, China UnionPay, Bitcoin and litecoin1:100nonononononoyes000000
Alvexo0https://www.forexexplore.com/forex-brokers/alvexo-review50003.3-https://www.forexexplore.com/forex-brokers/alvexo-reviewMetaTrader 4, WebTrader, MobileyesyesCash-U, Credit Card, Webmoney, Wire Transfer400:1English, FrenchnonoCySECyesyes100001
RubixFX0https://www.forexexplore.com/forex-brokers/rubixfx-review5000.2-https://www.forexexplore.com/forex-brokers/rubixfx-reviewMetaTrader 4noyesWire Transfer, Credit Cards400:1English, French000001
NSFX0https://www.forexexplore.com/forex-brokers/nsfx-review3003https://www.forexexplore.com/forex-brokers/nsfx-reviewMetatrader 4, Webtrader, NSFX Jforex platformyesyescredit cards, Skrill, CashU and wire transfer200:1English, Arabic, German, Turkish and ItaliannonoMFSAyesyesno100000
Synergy FX1https://synergyfx.com/5002https://www.forexexplore.com/forex-brokers/synergyfx-reviewsMetaTrader 4noyescredit cards, skrill, wire transfer1:500noyesASIC, AFSLyesyesyesyes100001
FXGrow0https://www.forexexplore.com/forex-brokers/fxgrow-review1000.8-https://www.forexexplore.com/forex-brokers/fxgrow-reviewMetaTrader 4, NetStationyesyesCredit/Debit cards, Skrill, Neteller, OkPay, CashU, WireTransfer200:1English001000
Juno Markets0https://www.forexexplore.com/forex-brokers/juno-markets-review5003-https://www.forexexplore.com/forex-brokers/juno-markets-reviewMetaTrader 4noyesneteller, skrill, credit cards, wire transfer1:400EnglishnonoFinaComnoyesno100001
Tickmill3http://www.tickmill.com/1001.2-https://www.forexexplore.com/forex-brokers/tickmill-reviewMetaTrader 4, Webtraderyesyeswire transfer (commission are charged), credit/debit cards, Skrill, Neteller, FasaPay, UnionPay and WebMoney1:500noyesFCA UK, FSA Seychellesyesyesnoyes111011
TeleTrade0https://www.forexexplore.com/forex-brokers/teletrade-review2000524%https://www.forexexplore.com/forex-brokers/teletrade-reviewMetaTrader 4, Mobilenoyescredit cards, Wire transfer, Neteller, Skrill1:200English, Russian000000
Financika1https://www.financikatrade.com/2502https://www.forexexplore.com/forex-brokers/financika-reviewsProfit, WebProfit, MetaTrader 4yesyes credit cards, wire transfer200:1nononononono000000
TenkoFX3http://www.tenkofx.com103https://www.forexexplore.com/forex-brokers/tenkofx-reviewMetaTrader 4, WebtraderyesyesSkrill, Neteller, FasaPay, Webmoney, Yandex Money, Qiwi1:500EnglishnonoInternational Financial Services Commission of Belizeyesyesno100001
KGIeworld0https://www.forexexplore.com/forex-brokers/kgieworld-review10003-https://www.forexexplore.com/forex-brokers/kgieworld-reviewMetaTrader 4noyesWire Transfer, Check1:50EnglishnonoMASnoyesno100000
Abshire-Smith0http://www.abshire-smith.com/5001.8https://www.forexexplore.com/forex-brokers/abshire-smith-reviewsVertex fx, Metatrader 4, straticatornoyesCashU, Neteller, Skrill, Wire Transfer1:200nonoFCAyes101000
Alfa Financial0http://www.alfafinancials.com10000$1 plus $15 commissionshttps://www.forexexplore.com/forex-brokers/alfa-financial-reviewMetaTrader 4, AX1Traderyesyes1:100EnglishnonoCentral Bank UAEyes100000
Blueberry Markets4https://www.blueberrymarkets.com1001.5https://www.forexexplore.com/forex-brokers/blueberry-markets-reviewsMetaTrader 4noyescredit cards, wire transfer, POLi, Skrill1:500nonoASICyesyesyesyes110001
CIBfx0http://www.cibfx.com1001https://www.forexexplore.com/forex-brokers/cibfx-reviewMetaTrader 4 yesyesPaypal, Skill, Credit Cards, Neteller1:200nonoVSFCnoyesno000000
BlackBull Markets9https://go.blackbullmarkets.com/visit/?bta=39396&brand=blackbull2000.8yeshttps://www.forexexplore.com/forex-brokers/blackbull-markets-reviewMetatrader 4, Metatrader 5yesyesBank Transfer, Credit Card Payments (Visa, MasterCard), Skrill, Neteller, China Union Pay, FasaPay1:500yesnoFinancial Services Provideryesyesyesnoyesyesyes100000
Darwinex0https://www.darwinex.com/5001https://www.forexexplore.com/forex-brokers/darwinex-reviewMetaTrader 4, cTraderyesyesBank Wire, Credit Cards, UnionPay1:200noyesFCAyes100000
Eightcup0https://www.eightcap.com/1001https://www.forexexplore.com/forex-brokers/eightcap-reviewMetatrader 4noyes1:500nonoASICyesyesnoyes110011
ETX Capital0https://www.etxcapital.com/1001https://www.forexexplore.com/forex-brokers/etxcapital-review ETX Trader Pro, Metatrader 4, ETX binaryyesyescredit cards, wire transfer, firopay, neteller, skrill, sofort, china unionpay1:200nonoFCAnonono100000
FCI Markets1http://www.fci-markets.co.uk/2500.2https://www.forexexplore.com/forex-brokers/fci-markets-reviewsCurrenex, FCI NetStation, MetaTrader 4yesyescredit cards, neteller, skrill, wire transfer1:100noyesFCAyesyesno110000
Fortrade1https://www.fortrade.com/5003https://www.forexexplore.com/forex-brokers/fortrade-reviewsFortraderyesyeswire transfer, credit cards, skrill, neteller1:200nonoFCAnononoyes100000
FXGiants1http://www.fxgiants.co.uk5002.2https://www.forexexplore.com/forex-brokers/fxgiants-reviewsMetaTrader 4noyescredit cards, neteller, paypal, skrill, unionpay, Webmoney, Wire Transfer1:500nonoFCAnonoyes100001
FXGlobe1https://www.fxglobe.com/2500.7https://www.forexexplore.com/forex-brokers/fxglobe-reviewsMetaTrader 4noyesCredit cards, Neteller, Skrill, Wire transfer1:500nonoCySECyesnoyes110001
FXonus1https://fxonus.com/5003https://www.forexexplore.com/forex-brokers/fxonus-reviewMetaTrader 4yesyesCredit Cards, Skrill, Neteller, Wire Transfer, China Union Pay1:500nononoyesnono010001
FXoro1https://www.fxoro.com/2003https://www.forexexplore.com/forex-brokers/fxoro-reviewsMetatrader 4noyescredit cards, wire transfer, skrill, neteller, ecoPayz, CashU1:400nonoCySECyesnono100001
FXprimus1http://www.fxprimus.com/1000.3https://www.forexexplore.com/forex-brokers/fxprimus-reviewsMetatrader 4noyesBitcoin, China UnionPay, FasaPay, Neteller, Skrill, Wire Transfer1:500nonoCysecyesyesyes110001
Infinox1https://www.forexexplore.com/forex-brokers/infinox-reviews1001.5https://www.forexexplore.com/forex-brokers/infinox-reviewsMetatrader 4noyescredit cards, wire transfer, skrill, neteller, china unionpay1:300noboFCA UKyesyesnoyes100000
JCMFX1http://jcmfx.com/101.8https://www.forexexplore.com/forex-brokers/jcmfx-reviewMetaTrader 4noyescredit cards, FasaPay, Wire Transfer, Neteller, Skrill1:1,000nonoFSAnonono100001
Larson&Holz1https://www.lh-broker.com/1000https://www.forexexplore.com/forex-brokers/larson-holz-reviewMetatrader 4, Web Traderyesyescredit cards, wire transfer, neteller, paypal, Yandex, liqpay, alfa click, beeline, mtc, perfect money1:500nonoFMRRC, NAFDyesyesno100001
LCG1https://www.lcg.com/11.6https://www.forexexplore.com/forex-brokers/lcg-reviewsMetaTrader 4, LCG Trader (web-based, ECN accounts only)yesyeswire transfer, debit/credit cards, Skrill1:500nonoFCA UKyesyesnoyes100001
LMFX1https://www.lmfx.com/501.8100% match bonus, 15% recoveryhttps://www.forexexplore.com/forex-brokers/lmfx-reviewMetatrader 4, Webtraderyesyescredit cards, Fasapay, neteller, okpay, skrill, wire transfer1:1,000yesnonoyesnoyesyes000001
LQDFX1https://www.lqdfx.com/201https://www.forexexplore.com/forex-brokers/lqdfx-reviewMetaTrader 4, xStationyesyesWire transfer, Credit cards, Skrill, Neteller, Unipay, FasaPay, SoFort, iDeal1:500nononoyesyesno000001
Mahi FX1https://mahifx.com/11https://www.forexexplore.com/forex-brokers/mahifx-reviewsMetatrader 4, MahiFXyesyeswire transfer, credit cards1:100nonoFCA UK, ASIC, FMAnononoyesyes100000
Paxforex1https://paxforex.com/10No deposit $7 bonus – cannot withdrawhttps://www.forexexplore.com/forex-brokers/paxforex-reviewsMetaTrader 4noyesCredit cards, FasaPay, Neteller, OKPAY, Perfect Money, QIWI, Skrill, UnionPay, WebMoney, Wire Transfer1:500nononononoyes000001
Pricemarkets1https://pricemarkets.com5002.5https://www.forexexplore.com/forex-brokers/pricemarkets-reviewMetaTrader 4 ECN, Currenex ECN, Integral FX, Liquid-x, Hotspot FXyesyeswire transfer, credit cards1:400yesnoFCA UKyesyesyes100001
Rallytade1https://www.forexexplore.com/forex-brokers/rallytrade-review1001.6https://www.forexexplore.com/forex-brokers/rallytrade-reviewMetatrader 4, xStation (web-based), xSocial, xOptionsyesyescredit cards, neteller, skrill, Interswitch, Pocketmoni, etraszact, perfectMoney, WebMoney, VoguePay1;1,000yesyesFinaCOMnonono100001
Range Markets 1https://www.rangeforex.com/1003https://www.forexexplore.com/forex-brokers/range-markets-reviewsMetatrader 4noyesNeteller, Credit Cards, wire transfer1:500nonoFSA of St. Vincent and the Grenadinesnonono100001
Rekuten Securities1https://www.forexexplore.com/forex-brokers/rakuten-reviews10.7https://www.forexexplore.com/forex-brokers/rakuten-reviewsMarketSpeed FX, Trading Station (inherited from FXCM)yesyeswire transfer, checks, ATM (only for local residents)1:50nonoSFCnoyesnoyes100000
Roboforex1http://www.roboforex.com/12https://www.forexexplore.com/forex-brokers/roboforex-reviewMetaTrader 4, cTraderyesyescredit cards, QIWI wallet, webmoney, Yandex.money, RBK money, Skrill, FasaPay, CashU, Payoneer, China UnionPay, Neteller, Perfect Money1:500nonoCysec, IFSC, FSP, FSCLyesyesno100001
Swissmarkets0https://www.swissmarkets.com/?campaign=1341&p1=&p2=334&p3=6m8j8j7w#signup2001.2https://www.forexexplore.com/forex-brokers/swissmarkets-reviewMetatrader 4, Webtraderyesyescredit cards, wire transfer, neteller, skrill, iDEAL, giropay1:500nonoCySEC, MiFIDnoyesno100101
Trade3600https://www.trade360.com/1001.835%, $60 no deposit for real accounthttps://www.forexexplore.com/forex-brokers/trade360-reviewTrade360yesnocredit cards, skrill, neteller, wire transfer1:1,000nonoCySECnononoyesyes100001
Tradersway1https://www.tradersway.com/01https://www.forexexplore.com/forex-brokers/traders-way-reviewsMetatrader 4, ctraderyesyesSkrill, Neteller, Perfect Money, Webmoney, QIWI, MonetaRu, EasyPay, Boletto, CashU1:1,000nononoyesyesno010001
Trading2121http://www.trading212.com/1002.5https://www.forexexplore.com/forex-brokers/trading212-reviewTrading212yesnowire transfers, credit and debit cards, PayPal, Dotpay, Giropay, SafetyPay, Carte Bleue, Mister Cash, Direct eBanking, CashU and UnionPay1:200nonoFCA UKnoyesnoyes100000
TurnkeyForex1http://turnkeyforex.com/5200% deposit bonus; 30 days of commission-free trading; 30% rescue bonushttps://www.forexexplore.com/forex-brokers/turnkey-forex-reviews MetaTrader 4, Trade Stationyesyescredit cards, wire transfer, neteller1:200yesyesnoyesyesyes000000
Whaleclub1https://whaleclub.co/11https://www.forexexplore.com/forex-brokers/whaleclub-reviewsin-house whaleclub web platformyesnobitcoin1:100nononononono000000
Z.com Trade3https://trade.z.com/11.4https://www.forexexplore.com/forex-brokers/z-com-trade-reviews Z.com trader web, Z.com trader pro (demo account only)yesyescredit cards, wire transfer, china unionpay, skrill1:200nonoFCA UKyesyesno100000
Freshforex3https://www.forexexplore.com/forex-brokers/freshforex-review13+5% to each cryptocurrency deposit; get 300% for each deposithttps://www.forexexplore.com/forex-brokers/freshforex-reviewMetatrader 4yesyesWebMoney, ePayService, Skrill , FasaPay, ADVCash, Perfect Money, Neteller, OnlineNaira NGN/USD, E-wallets for the Philippines, Visa/Mastercard/Maestro USD/EUR, Local Depositors, Bitcoin, Internet Banking1:1000noyesKROUFRyesyesyesyesyesyesyesyesyes110011
ForexMart0https://www.forexexplore.com/forex-brokers/forexmart-review10.0$150 no deposit neededhttps://www.forexexplore.com/forex-brokers/forexmart-reviewMetatrader 4yesyescredit cards, Neteller, Skrill, Paypal, Paxum? Bitcoin1:1,000nonoCySECnoyesyesyesyesyesyesyes100001
Pepperstone3https://trk.pepperstonepartners.com/aff_c?offer_id=329&aff_id=40262001.2100% Match Bonushttps://www.forexexplore.com/forex-brokers/pepperstone-reviewMetatrader 4, Metatrader 5, cTrader, cAlgo, cMirroryesyesbPay, credit cards, Paypal1:500EnglishyesyesASIC, FCA UKyesyesyesyesyesyesyesyes111001
Forexee0https://www.forexee.com500.5 plus commissionsSpecial trading commission $1, Welcome Bonus $15 for STP, 0% commission for depositshttps://www.forexexplore.com/forex-brokers/3768-forexee-reviewMetaTrader 4noyesCredit Cards, Webmoney, Wire Transfer, Skrill, Neteller, Bitcoin, Bitcoin Cash, litecoin, Fasapay, etherium, Payza, Perfect Money1:500Englishnononoyesyesnoyes010001
AETOS0https://www.forexexplore.com/forex-brokers/aetos-review2502https://www.forexexplore.com/forex-brokers/aetos-reviewMetaTrader 4yesyesBank wire transfer, Credit cards, Debit cards, Skrill, ZOTAPAY1:200nonoFCA UKnononoyesyes100000
AETOS0https://www.forexexplore.com/forex-brokers/aetos-review2502https://www.forexexplore.com/forex-brokers/aetos-reviewMetaTrader 4yesyesBank wire transfer, Credit cards, Debit cards, Skrill, ZOTAPAY1:200nonoFCA UKnononoyesyes100000
LH-Crypto0https://www.lh-crypto.com/101https://www.forexexplore.com/forex-brokers/lh-crypto-reviewMetatrader 4, Metatrader 5yesyesBitcoin, Bitcoin Cash, Ethereum, Litecoin, Monero, DASH, Ripple, NEO, Visa, MasterCard, Web Money, QIWI, wire transfer1:5002018noyesyesyesyesnoyes111001
TradeFW3https://www.tradefw.com/0250https://www.forexexplore.com/forex-brokers/tradefw-reviewyesyesBank wire, Credit/Debit Card.1:30nonoCysecyesyesnoyes110000
1Market0https://www.forexexplore.com/forex-brokers/1market-review2503https://www.forexexplore.com/forex-brokers/1market-reviewWebtrader, Metatrader 5yesyescredit cards, bank wire transfers, Neteller, Skrill, Sofort, Rapid, PaySafe Card and Volt1:400nonoCysecnonononoyes100001
Trade Nation4https://www.forexexplore.com/forex-brokers/tradenation-review10.6https://www.forexexplore.com/forex-brokers/tradenation-reviewin-house web-based platform, Metatrader 4 MT4yesyesCredit Card, Srill 1:30; 1:200EnglishyesyesFCA in the UK, the ASIC in Australia, the FSCA in South Africa and the SCB in the Bahamasyes110000
PlusMarkets0https://www.forexexplore.com/forex-brokers/plusmarkets-review00.1https://www.forexexplore.com/forex-brokers/plusmarkets-reviewMetatrader 4, PlusMarkets Traderyesyescards, wire transfers, and some alternative payment methods, which aren’t specified1:30nonoCySecnoyesno100000
HonorFX0https://www.forexexplore.com/forex-brokers/honorfx-review1000.2https://www.forexexplore.com/forex-brokers/honorfx-reviewMetatrader 5noyesCredit Cards, Neteller, Skrill, Paypal, Bitpay, Fasapay, Perfect Money1:500FSAyes101001
Tiger Brokers0https://www.forexexplore.com/forex-brokers/tiger-brokers-review0https://www.forexexplore.com/forex-brokers/tiger-brokers-reviewTiger TradenoyesBank Wire Transfer, FAST, DDA, PayNowUp to 4x (day trade), Up to 2x (next day)yesUS Securities and Exchange Commission, Australian Securities & Investments Commission (ASIC) yes100000
MarketBull0https://www.forexexplore.com/forex-brokers/marketbull-review10001.8100% match the deposithttps://www.forexexplore.com/forex-brokers/marketbull-reviewMetatrader 4yesyesCredit Cards, Neteller, Skrill, Bank Wire Transfer1:1000jurisdiction of the UKyesyesyesyesyes110001
CedarFX0https://www.forexexplore.com/forex-brokers/cedarfx-review503https://www.forexexplore.com/forex-brokers/cedarfx-reviewMetaTrader 4 yesCredit Card, Bank Wire, Bitcoin1:500yes100001
GCI Trading0https://www.forexexplore.com/forex-brokers/gci-trading-review500150% on deposithttps://www.forexexplore.com/forex-brokers/gci-trading-reviewMetaTrader 4, ActTraderyesyesBank Wire Transfer, Credit Card, Neteller, Skrill1:400IFSCyesyes110001
Axi0https://www.forexexplore.com/forex-brokers/axitrader-review2001.2https://www.forexexplore.com/forex-brokers/axitrader-reviewMetatrader 4yesyesDebit and Credit Cards (Visa, Master, Maestro, JCB) Neteller Skrill/Moneybookers Global Collect (only for Australian clients) BPAY (only for Australian Clients) China Union Pay (only for Chinese residents) Bank Transfer Broker to Broker Transfer1:400nonoASIC, FCA, Financial Services Authority in Saint Vincent and the Grenadinesnonoyes100001

In India, a foreign exchange broker is generally a financial services company acting as a middleman between traders and the interbank to facilitate the easy trade of foreign currencies between them (one currency is brought or sold in return for another). Here the forex trading brokers give you various trading platforms. Dealing desk brokers and non dealing desk brokers are two types of brokers.

The foreign exchange broker mostly buys and sells currencies on behalf of the traders. Many best forex brokers in India are operating online, and many online forex brokers now offer high-level forex trading platforms in India to trade foreign currencies. A foreign exchange broker is also called a currency trading broker or retail forex broker for its significant contribution to retail investor accounts.

 Is Forex Trading Legal In India?

Before you even get any further in your currency trading journey, it’s vital to first confirm that this type of trading is legal. Fortunately, forex trading in India is legal. Therefore, you shouldn’t fear opening an account since forex trading is regulated by the Reserve Bank of India (RBI) and protected by the Securities Exchange Board of India (SEBI).

However, forex trading is only legal when the Indian Rupee is the base currency and through specific foreign exchange trading platforms, such as ForexToStocks. In contrast, forex trading done through the Internet or electronic trading is forbidden by a circular issued by RBI.

Currency trading in India is only possible when benchmarking currency pairs against the Indian Rupee. This move by the Indian government was put in place since the Indian Rupee is weak when paired against the dollar. Therefore, you’re only required to buy the USD from the India’s Central Bank. Apart from the USD and INR, other currency pairs that are allowed are the Euro and INR, as well as UK Pounds and INR.

How Do I Trade Forex in India?

Trading forex in India (2023) involves the following process. Here is the list of our recommended steps that will answer how to find the best forex broker from the globe for yourself:-

  • Find a SEBI regulated broker with an international reach to widen the scope in foreign currency pairs trading in your region that supports currencies in India. You may open a forex trading account with excellent Indian brokers where you can trade. Do check whether the top forex broker supports an Indian bank account.
  • Check for MetaTrader 4 and MetaTrader 5 support, as it’s an added advantage and platforms registration number.
  • Due to safety, Indian traders need to verify an account with accurate KYC compliances before trading forex.
  • Make payments with initial funds in INR (Indian Rupee) into the account to activate it like a wire transfer.
  • The beginner should start trading forex with any preferred currency pair against the base currency, such as INR (Indian Rupee) and foreign forex brokers that accept Indian clients. It is a helpful tip if you are a beginner.

How can I legally trade forex in India?

It is legal to trade with Indian Brokers providing access to Indian Exchanges(NSE,BSE,MCX-SX) providing access to Currency Derivatives. Currently the trading instruments are USDINR, JPYINR, GBPINR, EURINR. A widely traded currency pair is the relation of the euro against the US dollar, designated as EUR/USD.

Why Forex trading is banned in India?

This means if any Indian forex traders does overseas forex trading from India, then it is illegal. Indian citizens are not allowed to send funds overseas to foreign exchange brokers both directly and indirectly. However, depending on certain conditions, you can carry off the process of currency trading.

Trading financial instruments carries high level of risk to your capital with the possibility of losing more than your initial investment. This site will not be held liable for any loss or damage in result from using the information within the site including forex Broker reviews 2022, market analysis, trading signals, learning resources and comparison tables. The data within this website is not necessarily real-time nor accurate and do not represent the recommendations of the employees. Currency trading is not suitable for all investors. Before deciding to trade currency or any other financial instrument please consider consider your investment objectives, level of experience, and risk appetite. While we do our best to provide up-to-date information, we strongly encourage you to verify it directly with the broker of your choice.