Forex Brokers For Successful Forex Traders In India

Forex Brokers India
Forex trading is very popular in India, and over the last decade, the number of traders in the county has doubled. If you are interested in trading forex, you are never too late to start, but you will need to identify the best forex brokers India on whose platform you will trade.

Although there are so many forex brokers with open access to Indian traders, not all of them are secured and regulated by the Securities and Exchange Board of India. However, the Broker you pick does not have to be regulated by SEBI though as long as other global regulators regulate their operations. We recommend Indian traders to follow the SEBI twitter page, @sebi_india to stay updated. Also check out the Exchange Board of India webpage on Wikipedia.

Below, we have a list of the best forex brokers India you can try.

Top Forex Brokers India List

Broker
Rating
Regulated
Bonus
Min. Deposit
Max. Leverage
1.
FXCC

VFSC, CySEC

100% bonus

$100

500:1

Review Visit Site Visit Site
Terms & conditions apply
Your capital is at risk.
2.
Fusion Markets

ASIC, VFSC

N/A

$100

500:1

Review Visit Site Visit Site
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3.
Avatrade

ASIC, CBI, BVI, FSCA, IIROC, FFAJ, JFSA, ADGM FRSA

up to 40% bonus

$100

400:1

Review Visit Site Visit Site
Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
4.
easyMarkets

CySec, ASIC, BVI

up to 50% bonus

$100

400:1

Review Visit Site Visit Site
Terms & conditions apply
Your capital is at risk.
5.
Deriv

VFSC, FSC, IBFC

N/A

$5

1000:1

Review Visit Site Visit Site
Terms & conditions apply
CFDs are considered complex derivatives and may not be suitable for retail clients. 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. The products mentioned here may be affected by changes in currency exchange rates. If you invest in these products, you may lose some or all of your investment, and the value of your investment may fluctuate. You should never invest money that you cannot afford to lose and never trade with borrowed money.
6.
Blackbull Markets

ASIC, VFSC

$10 000 demo

$50

500:1

Review Visit Site Visit Site
Terms & conditions apply
Risk Warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money you cannot afford to lose. You should make yourself aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any questions or concerns as to how a loss would affect your lifestyle.
7.
HYCM

CySEC, FCA, CIMA, FSC, DFSA

up to 10% credit bonus

$100

500:1

8.
Vantage FX

FCA, ASIC, CIMA, SIBL

up to 50% bonus

$100

500:1

Review Visit Site Visit Site
Terms & conditions apply
Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.

Best Indian Forex Brokers Reviewed

IG Brokers

IG Broker
We rate IG as the most secured and trusted Broker overall in 2024 for Indian brokers for several reasons. IG was established in 1974 and is a publicly traded platform. As the world made the transition towards an internet based system, IG followed suit. Currently, the platform is regulated by as many as six tier 1 regulators, making it one of the most secure platforms in the world. IG is a safe and low-risk broker with as many as 19,000 tradable instruments. Their commission rates and fees are affordable, and their trading platform uses advanced tools and has a user-friendly interface. IG has three platforms, namely

  • Progressive web app
  • MetaTrader 4
  • L2 Dealer
  • ProRealTime
  • Mobile trading app

This is definitely one of the best platforms for Indian traders.

IG Logo

Min $250 Deposit

Regulated By: ASIC, FCS, MAS, FINMA, CTFC, JFSA, FCA

Foundation Year: 1974

Headquarters: London, ‎United Kningdom


Terms & conditions apply
Your capital is at risk.

Interactive Brokers

Interactive Brokers Logo
The second Forex broker India in our review is none other than Interactive Brokers. This platform is one of the oldest in the game and is in its 43rd year. Interactive Broker is an equity capital trading platform with more than $10.01 billion worth of equity capital. Interactive Brokers use technology to provide traders access to the global forex market.

As a trader, you can trade in a diverse range of assets like stocks, crypto, CFDs, and mutual funds. If you don’t want to spend too much on transaction fees, this is one of the best brokers to use. Currently, the platform provides access to 135 global destinations, and as many as 2,305,000 trades are executed on the platform per day.

Interactive Brokers Logo

Min $200 Deposit

Regulated By: SEC, FINRA, FCA, NYSE

Foundation Year: 1978

Headquarters: Connecticut, ‎United States


Terms & conditions apply
Your capital is at risk.

Forex.com

forex.com Logo
Third, on our list is one Broker many professionals regard as one of the best brokers in the world. Forex.com was founded in 1999 and is a subsidiary of SNEX, which is a publicly traded company. This Broker offers traders access to the global marketplace and is a beneficiary of 7 awards in several categories. You will find a lot of educational materials on the platform. The trading tools are advanced but easy to use. Also, their Mobile trading app is user friendly.

There is a wide range of assets you can buy and sell on Forex.com. Indian traders can also take advantage of their low spreads along with other trader-friendly features and tools.

Forex.com Logo

Min $100 Deposit

Regulated By: FCA, IIROC, JFSA, NFA, CIMA, FSA, ASIC, CFTC

Foundation Year: 1999

Headquarters: New Jersey, United States


Terms & conditions apply
Please note that foreign exchange and other leveraged trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary.

AVATrade

Avatrade Logo
If you want to enjoy multiple trading options, AVATrade is your best bet. Founded in 2016, it has some of the best tools for retail trading. Over the years, AVATrade has built a solid reputation as an investment-friendly platform with more than 300,000 active traders. There are more than 1250 tradable instruments in this platform ranging from forex of different currency pairs to Cryptocurrencies, Stocks, commodities, and indices.

Depending on the one you prefer, you can trade on this platform using the Desktop and mobile platforms. The platforms open to Indian traders and traders in other parts of the world include

  • MetaTrader 4
  • MetaTrader 5
  • WebTrader
  • AvaOptions
  • AvaTradeGo
  • Mobile & Web based platforms
  • Desktop

This website is available in 20 languages. Your funds are held in trust for you, and you can even utilize their segregated account options to secure your investments.

Avatrade Logo

Min $100 Deposit

Regulated By: ASIC, CBI, BVI, FSCA, IIROC, FFAJ, JFSA, ADGM FRSA

Foundation Year: 2006

Headquarters: Dublin, Ireland


Terms & conditions apply
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

XM.com Group

XM.com Logo
The last but not the least forex brokers India you should consider is XM. XM currently has more than 5 million active accounts registered on the platform, and the number keeps growing. Founded in 2009, it started as an investment broker before expanding into forex services. Available in over 30 languages, this is one of the best platforms for brokers at all levels. With as many as 25 secure payments options, you are not limited to ways to find your account or to make withdrawals.
It has 16 full-featured platforms and first class customer service to answer all your inquiries and resolve whatever complaints you might have. Their fees are also very affordable too.

XM.com Logo

Min $5 Deposit

Regulated By: ASIC, IFSC, DFSA, CySEC

Foundation Year: 2009

Headquarters: Limassol, Cyprus


Terms & conditions apply
Risk Warning: Forex and CFD trading involves a significant risk to your invested capital.

Conclusion

If you are based in India and you want to get the best trading outcomes, you definitely need to use only regulated forex brokers for your trading. The Forex brokers India reviewed in this post are some of the best in the business and rest assured that your investment will always be in safe hands.

Forex Brokers India FAQs

Do Forex Brokers own the forex market?

No, forex brokers do not own the forex market. No single entity owns the market as it is a global free entry free exit marketplace.

Does a broker in India need to have a SEBI license before I can use it?

No, they do not. Of course, a broker with a SEBI license is a huge plus, but there are other international regulators like the FCA (UK), ASIC (Australia), JPSA (Japan), and others. If they have any of these licenses, then you can use their platform.

Do all forex traders India charge withdrawal and inactivity fees?

No. In fact, some of the brokers reviews on this post do not charge withdrawal and inactivity fees

What is the minimum deposit I will need to start trading?

That will depend on the forex broker you are working with. Most brokers have a minimum deposit account opening balance of between $50 -$100.

Do I have to trade with all my opening balance?

No, you do not. You can start trading on most platforms with as low as $10.

About James Johnson
About James Johnson

Expert in Economics, Trading, Investments and Personal Finance. Graduated in 2001 in Business Economics and Management at Harvard University. After several years of working in the foreign exchange trading industry, I co-founded Forex Online Brokers in 2015 with the aim of distributing my personal knowledge and professional experiences in the field of trading and investments in general.