In this instance, you could always consider using a forex broker that accepts Indian clients such as those listed on this page. The Securities and Exchange Board of India SEBI is the regulatory body for securities and commodity market in India under the ownership of Ministry of Finance within the Government of India.

The SEBI was established to secure the interest of investors in the financial market. It aims to provide a safe environment for the stock market participants by continuous improvement in its guidelines and measures.

SEBI is also responsible for issuing licenses to forex brokers. To find the best forex brokers in India, we created a list of all brokers that accept clients from India, then ranked them by their overall rating. Below is our list of our top forex brokers in India.

The Securities and Exchange Board of India was established as a statutory body in the year and the provisions of the Securities and Exchange Board of India Act, 15 of came into force on January 30, SEBI regulates the operations of depositories, participants, custodians of securities, foreign portfolio investors, and credit rating agencies. It prohibits insider trading, i. fraudulent and unfair trade practices related to the securities market.

SEBI has the power to examine the Book of Accounts and other vital documents to identify or gather evidence against violations. If it finds one violating the regulations, the regulatory body has the power to impose rules, pass judgements and take legal actions against violators. 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.

To trade forex if you are a resident of India, you will need to be using a SEBI-regulated broker that offers exchange-traded currency derivatives or a foreign broker ideally regulated and reliable that offers retail forex trading products and services.

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.

Private individuals are not permitted to execute trades to do with currency by themselves. Any trading operations have to be registered via a broker of forex.

These brokers are licenced and run broking systems as per specific legal regulations. To identify if a forex broker is licensed to operate in India, the first step is to identify the regulation number from the disclosure text at the bottom of the brokers homepage. Next, you can look up the brokerage with the SEBI register to validate that the broker is currently authorized in India.

Richard Montana Richard has many years of experience in broker research, testing, analysis and reviews. Like Comment Share. DEGIRO Review Is It Scam Or Safe?

Sep 19, What is easy markets? Read an Overview Aug 2, Learn how to trade Forex with this beginner's guide to forex trading Jun 30, Strategies for Trading Volatility With Options Jun 16, What type of trading platform do you prefer and why? Jun 7, Breakout Trading Strategy: A Detailed Guide May 27, Forex Best Broker InvestFW is it a Scam or Legit?

May 16, What does Range mean? Apr 7, Is Chain Link A Good Investment In ? Apr 4, Is algorithmic trading more profitable? Mar 28, Is The Automotive Sector Entering A Recession? Marketbites: Retail Earnings Ahead Avidus 1w. Retail Reset Creates Buying Opportunity Jim Pearce 6mo. Forex brokers in India are only allowed to offer Indian rupee based currency pairs for USD, EUR, GBP, and JPY because If the majority of Indians traded the dollar which is the most traded currency outside of India, the Reserve Bank of India would come to a point to be compelled to buy the USD with INR at cheaper rates.

That would weaken the already weak Indian rupee. Due to an increase in financial scams involving foreign exchange brokers in India, the government was forced to severely restrict the way citizens can operate in the forex market. It would seem that while the Reserve Bank of India RBI has many restrictions around trading, there are ways for residents to trade.

If you want to open an account with a foreign-based broker, you should at all costs avoid wire transfers from banks or any other financial institutions based in India or a credit or debit card issued by an Indian entity to fund a forex trading account. Instead, deposit through an electronic wallet like PayPal or Neteller. Not all forex brokers are created equal, so make sure your needs as a trader are adequately met by the forex broker you select before committing any funds.

Saxo Bank We selected Saxo Bank as the Best site for forex trading in India on our list based on in-depth analysis and testing the live accounts of 30 online forex brokers. Saxo Bank Group , a Danish investment bank founded in , provides online trading and investment services. Backed by superior research, the Saxo bank trading platform is the most user-friendly and well-designed one out there. The extensive product portfolio covers all asset types and many international markets.

Saxo Capital Markets offers an excellent option for advanced forex traders and sophisticated professionals with well-funded accounts. Saxo Bank — One of the Best Forex Broker. com, founded in as part of GAIN Capital Holdings, is an established global online forex broker that caters to individuals seeking to trade the retail F.

and CFD markets. com ranks as the No. forex broker by client assets as per FOREX. com review. The leverage available at Forex. com ranges from 0. Interactive Brokers. Interactive Brokers IBKR ranks very near to the top in our review due to its wealth of tools for sophisticated investors who are interested in tracking global investing trends. Interactive Brokers India Pvt. is a member of NSE, BSE, SEBI. The firm makes a point of connecting to any electronic exchange globally, so you can trade equities, options, and futures around the world and around the clock.

Trading forex is an ever-growing market which makes it popular among Indian citizens. But before you begin trading in India, you should know that most brokers in India are heavily regulated due to various restrictions implemented by the government.

It would be best if you always use regulated brokers; due to the restriction imposed on regulated bodies, which is called SEBI — Securities and Exchange Board of India , where local citizens can trade in the forex market with the help of an International broker only. Here we have compiled a list of leading forex from around the globe, some of the best forex brokers in India that accept clients who are residents of India. Olymp Trade is amongst the best brokers in India and offers over 25, active clients registered on its platform.

The easy-to-use interface, responsive customer services like email addresses, generous spreads, lucrative trading bonuses, and plenty of deposit methods and withdrawal methods attract both beginners and seasoned traders. Olymp Trade, an online forex broker, is regulated by the IFC or the International Financial Commission. Olymp Trade is best known for its competitive spreads and commissions, multiple over-the-counter payment options, including debit card payment and bank wire transfer from local banks or central banks , and a wide range of tradable instruments, fixed-time trading, and currency derivatives currency futures provided by these best brokers that accept clients from India.

Olymp Trade broker has been serving its clients as one of the best forex brokers in India since and is a member of the International Financial Commission.

As for MT 4, MT5, mobile app, etc. Max leverage can go up to , supporting INR-based currency pairs. No custodial or maintenance fees on any forex trading account are charged as such, a low trading commission. Sign Up Now. OctaFX is a leading global forex and CFD broker established to offer multi-asset forex trading platforms like MT4 platforms, MT5 platforms, and cTrader platforms to trade.

This forex broker has its headquarters in Grenadines and St Vincent, with additional support offices in Jakarta, Indonesia, and Limassol, Cyprus; Limassol is its EU entity.

OctaFX is one of the best forex brokers in India, regulated by the top financial regulatory body CySEC Cyprus Securities and Exchange Commission. It is one of the best brokers in India, known for its lucrative bonuses and promo codes for beginners, commission-free trading, EU regulation, MetaTrader, and cTrader.

As per published reviews, OctaFX, the best forex broker India, was established in The minimum initial deposit for the micro trading account MT4 and the ECN trading account cTrader type is USD, whereas the initial deposit for the Pro MT5 account type is USD which is suitable for experienced traders along with mobile app support.

The max leverage on these best forex brokers platforms on currencies for the MetaTrader 4 MT4 platforms and cTrader account holders is up to ; for MetaTrader 5 MT5 trading point holdings, it is up to For Metals, stock market indices, and trading cryptocurrencies, the max leverage limits are up to , , and , respectively.

The company also accepts clients from the EU or the US national futures association who can only avail of single max leverage. Low trading fees variable spreads for foreign currencies like gold spreads XAUUSD are around 10 pips, and for major indices like NAS, the spreads spike to around 3.

Bitcoin spreads BTCUSD hover around 3. Fixed spreads are available for MetaTrader 4 MT4 USD accounts. These top forex brokers charge no commissions for withdrawals, free deposits, or currency conversions except for deposits made via Perfect Money, for which a nominal fee is charged from Fx traders. However, a nominal forex trading commission is charged from Indian traders at the rate of 0. Indian clients are also eligible for respective spreads.

These forex trading platforms also provide reasonable conversion fees. com broker uses a narrative style of the transaction process to increase its FX market efficiency and also enable commission-free forex trading, where traders only pay the overnight costs and buy-sell spread if they use leverage. This Global web and app based platform supports more than 4 million traders. It is regulated by the Financial Conduct Authority FCA in the UK, Australian Securities and Investments Commission, and several other regulatory agencies around the globe.

Read our Capital. com review , where we have covered every aspect of this user-friendly trading platform, like its pricing structure, supported asset classes, types of retail investor accounts, forex trading app, range of educational resources, demo trading account, customer care service, and more.

Non-Trading Fees are low. No withdrawal fee or deposit fee is taken. Reasonable overnight fees. iForex is foremost among multi-regulated forex brokers in India and owns a proprietary trading platform where you can trade CFD and forex on a desktop and a mobile trading app.

The platform has its headquarters in Limassol, Cyprus, and operates under its parent company, Formula Investment House Ltd. In contrast, its European subsidiary is regulated via CySec and the FCA regulation in the UK. iForex trading platforms are best known for their easy user interface, various trading assets, copy trading option, educational materials, great customer service, and efficient safety and security mechanisms.

iForex was founded in Forex or commodities come with high leverage of , while the leverage for CFD trading is The deposit options are available with various payment options like Bank Wire, Credit Card, Debit Card, and e-Wallets which many brokers like FP markets offer. Learn more about the platform in our iForex review and the list of features, and stock market options, that are suitable for you.

The forex trades are commission-free with iForex, and its spreads for major currency pairs start at around 1 pip. com is one of the advanced online CFD, and these India forex brokers are regulated in multiple countries and facilitate trades with over more than global financial markets.

The top forex brokers in India for trading are deemed to be some of the best forex brokers in the world that accept clients from the UK, US, Canada, Japan, and the EU. com is also regulated via the respective regulatory bodies like the FCA, FSA F inancial Services Authority , CIMA Cayman Islands Monetary Authority , CySEC Cyprus Securities and Exchange Commission , NFA, SEC Securities and exchange board , Financial Services Agency, etc.

The best forex brokers platform is also registered with the commodity futures trading commission. com is one of the best known for its diverse tradable financial tools, which traders of India residents can make use of it. This regulated forex broker provides more than 40 different pairs for clients to trade currency pairs.

com started trading forex in the currency market in You can use the margin calculator to find the exact ratio. However, read the Forex. So as retail investors, your investment objectives should be clear before trading. Four distinct pricing methods are available in this forex broker, depending on the trading account types. Spread as low as 0. HYCM Henyep Markets is the international CFD-regulated forex broker operating under its parent company, the Henyep Capital Markets Holdings Group, with offices in these diverse locations like the UK, Dubai, Hong Kong, and Cyprus.

The company has been operating for more than 40 years now and is popular in India. HYCM Henyep Markets is best known for its lowest spreads, competitive leverage ratios, and many diverse assets that you can trade. HYCM, these best forex brokers, was established in These online brokers have a high degree of leverage trading at can turn out to be very profitable or can drown you in a big loss.

HYCM forex broker also offers varied leverage ratios depending on the regulations implemented in the countries where the traders are located. You can use max. leverage to increase your potential profits and your losses. The ratios differ for each tradable asset. However, the Swap-free Islamic account does not charge any overnight interest for the first 14 days of opening a position. XM is a group of next-generation online fx trading and commodity brokers that often rewards its traders worldwide with unique prizes like bikes and gadgets raffles.

This broker offers a wide range of forex account types depending on your preferences and trading platforms. Signup with a demo account that is best suited for beginners and provides the natural modes to quicken the initial learning stages of your trading journey. For instance, all Trading Point of Financial Instruments is controlled by CySec, while the ASIC Australian Securities and Investments Commission.

foresees the Trading Point of Financial Instruments Pty Ltd, and XM Global is supervised by the IFSC the International Financial Services Commission. This FX trading platform offers a sign-up for a demo account for beginners that will help you to become a better trader with practice by using the real scenario in trading and is easy to use. XM group also has more platform support and research tools, and the best customer service.

XM Group, I nternational brokers, is best known for providing a wide range of forex markets at a very minimum spread. You can access XM ultra low account.

Just as a forex trading time-limited company is licensed by different regulators for each brand, the year of establishment for each brand is also different. It was established in parts in the years , , and leverage depends on the instrument traded and is between to Tradable assets such as forex, stocks CFD, equity indices CFDs, commodities CFDs, energies CFDs, and noble metals CFDs also o ffer currency pairs that are more than 50 , including the major USD, GBP, EUR, and JPY pairs.

CFDs are the most complex instruments to trade that carries a high risk of investment associated with them and a high risk of losing money due to leverage.

Even Institutional traders lose money when trading CFDs. Your trading decisions should be firm on how much risk you are willing to take since investor accounts lose money while they trade CFDs due to leverage on this best forex brokers platform.

There are no hidden trading fees as such, and spreads depend on this the forex account types. The minimum spread is 0. FXTM or ForexTime Limited is a popular foreign exchange among most people; this Forex and CFD broker caters to the needs of both beginner and experienced forex investors. In addition to that, it is distinguished among many Indian forex brokers from India. FXTM, a foreign broker, is governed by the 3 leading official bodies, including — CySec, FCA, and FSC Financial Service Commission of the Republic of Mauritius.

The platform is best known for its copy trading and social trading features and wide options of tradable currency pairs compared to other best forex brokers in the market.

It also provides video tutorials, seminars, payment methods like wire transfers , free demo support, updated exchange rates, stock market options, and more, along with MT 4, MT5, etc. FXTM, one of the most reliable brokers was set up in Before you ask, what is the low minimum deposit?

CFDs are the most complex instruments traded over a forex market via trading tools. Apart from these, this forex broker has also launched around 11 new dynamic indices split across almost 6 foreign exchange market indices and a good selection of around stock trading indices.

Get more insight about the platform in our FXTM review , where we have covered everything. Become aware that the price for leverage-based trading in India with the ForexTime broker is a little on the higher side as the broker levies some additional charges that many traders cannot afford.

As for the spread and commissions, the FXTM trading platforms broker is again on the lower spectrum with the tightest spreads start, as low as 0 pips, and, in addition to that, no commissions for ECN account types and even supports a demo account. However, the trading platforms spread may be a little higher but competitive for standard account types and reasonable forex trading fees.

com Minimum Deposit Trade. Fpmarkets FP Markets has been offering the best trading services to thousands of clients all around the world. Forex brokers in India are only allowed to offer Indian rupee based currency pairs for USD, EUR, GBP, and JPY because If the majority of Indians traded the dollar which is the most traded currency outside of India, the Reserve Bank of India would come to a point to be compelled to buy the USD with INR at cheaper rates. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". It also provides video tutorials, seminars, payment methods like wire transfers , free demo support, updated exchange rates, stock market options, and more, along with MT 4, MT5, etc.

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