Best Forex Broker in India – List of Top 10 Best Forex Trading BrokersLast Updated Date: Nov 16, 2022
Know about Best Forex Broker in India and find the list of Top 10 Forex Brokers here.
Forex trading and currency trading is quite a popular business in India. It is also a great way to earn some extra profits or side income along with your current earnings.
That’s right; you need to know the market, the trading strategies, etc. to become a high earning forex trader. If you are a beginner, you can gain some knowledge about forex trading in India.
However, there are many places to start forex trading; the only factor to consider is the forex trading broker who will help you with your trading orders, strategies, etc.
Forex is a vast financial market with low margin requirements and high liquidity. You can trade across all the currencies in India.
However, before you start trading, it is recommended that you abide by the laws and regulations of India for the forex traders.
Top 10 Forex Trading Brokers in India
It all starts with signing up with the right forex broker, and yes, there are so many forex trading brokers in India, which one to pick, can be great confusion.
We have listed some of the most popular forex trading brokers in India, take a look –
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XM Global – Best Forex Broker in India
XM Global is a sister concern of Trading Point Holdings and is regulated by SEBI in India and by the International Financial Services Commission.
Well, XM deals with around 200 countries, which has around 2.5 million traders from all over the globe.
Yes, it has some right trade instruments, such as currency pairs, stocks, commodities, metals, indices, and even energies.
With the XM trading platform, you can also trade in different platforms such as MetaTrader 4 and 5, which runs across different operating systems and on the web.
However, you can start with a micro account that asks for a deposit of $5 with leverage of a 1:89 ratio. You also get a demo account with a $10,000 virtual balance.
iForex – Top Forex Broker in India
iForex is not so popular, yet it has useful reviews both from the traders and the financial institutions.
Of course, it is regulated and registered under SEBI and with the British Virginia Islands Financial services commission, which offers instruments like currency pairs, crypto, indices, commodities, ETFs, and shares to trade.
This web and the mobile-based platform also come with more than 800 instruments to trade-in. It functions in a one-click trading deal to gain good profits. Yes, beginners need not worry; it has strategies, markets, and charts available to apply while you trade.
The initial deposit is $100; the payment options available are Skrill, Neteller, MasterCard, Visa, and wire transfers.
It has many customer support languages available, and it includes many of our Indian languages.
Alpari – Top 10 Forex Broker in India
Alpari is in the industry for the last two decades and has been serving more than 2 million traders worldwide.
This brand comes from Mauritius and has been regulated under the Mauritius financial law.
Alpari also offers both MetaTrader 4 and 5 to trade at ease. However, beginners can learn this particular platform, and also there is a virtual account available for practice.
Well, if you ask, what is the minimum deposit? Then it is $5 for a micro account, and the amount increases with other types of accounts.
You can also fund your trading account using different payment options such as bank wire transfer, credit cards, and different other popular wallets.
Olymp Trade – Best Forex Broker
This recently arrived trading broker has gained good traction of audiences and users all over its platform.
Olymp Trade is registered under SEBI and is a member of the International Financial Commission.
It is easy to trade with Olymp as they have a smooth interface that can be easily understood, even by the beginners who want to try trading.
It has a practice account available using which you can learn the strategies and tactics to trade better.
You can trade stocks, indices, commodities, ETFs, crypto assets, and currencies with the leverage of up to 500 times.
This platform also offers FTT, known as Fixed Time Trading, where you can easily predict the exchange rates, giving you a profit of up to 90% of your order amount.
FXTM – Top Forex Broker
FXTM is a foreign brand belonging to Forex time limited and comes under the Cyprus Securities Exchange Commission, UK, and financial sector conduct authority in the UK.
Opening a trading account is comfortable with FXTM, as you have to sign up with their official account, and it all starts from there.
However, if you are just new, you can start with a minimum deposit of $10 and go on with the trading.
You can also learn some new strategies that would be useful for you. The platform has indicators and charts that allow you to apply in your trading account.
You can trade CFDs, stocks, currency pairs, metals and commodities, and cryptocurrencies.
There are MetaTrader 4 and 5 platforms available across different operating systems and platforms.
Forex.com – Top 10 Forex Broker
Forex.com is the number one platform in the US and is a leading forex trading broker in many different countries, and in India, SEBI has regulated it.
However, to open a new trading account, this platform requires $250 as a minimum deposit to begin with trading.
Yes, you can start trading with micro amounts, while it also offers MetaTrader 4 and MetaTrader 5 platforms with different versions for desktop and mobile.
The leverage ratio is up to 50:1, which is ultimately less for expert traders, but it can be a good start for beginners in forex trading.
You can trade in different stocks, securities, commodities, currency pairs, and CFDs, etc.
OctaFX – One of the Best Forex Brokers
Trading with OctaFX is easy, as it has got different features available for both beginners and experts.
OctaFX is regulated under SEBI in India, and therefore, it is one of the most popular forex trading platforms in India and is used by many top investors and financial experts.
Using this platform, you can easily trade CFDs, currency pairs, metals, indices, cryptocurrencies, commodities, and stocks at most ease.
You can open a trading account with OctaFX with a minimum deposit of $20.
There are different payment options available like Skrill, Neteller, Local banks, Paytm, and even Bitcoin. Sure, you can also use MasterCard for deposit and withdrawal.
It doesn’t have any commission that will be cut, and it has different languages available to trade in, where one of them is Hindi.
eToro – India’s Top Forex Brokers
Once again, this is another popular and commonly used platform in India for forex trading.
The Financial Conduct Authority regulates Etoro, and Cyprus Securities Exchange Commission, and the Australian securities commission.
There are many trading options available in this platform, including 2000+ instruments and subjects such as CFDs, ETFs, stocks, commodities, currency pairs, and indices.
If you are a beginner, you can open a virtual account with a deposit of $100,000 with all the real-time strategies to practice.
Well, don’t worry, you don’t have to deposit anything in your virtual account, as it is just a practice account.
You have to deposit only in the original account, with a minimum amount of $50, depending on your region.
FBS – Top 10 Forex Trading Brokers
FBS is an international broker that is generally used by many experts and top traders worldwide. It operates in more than 190 countries, with more than 14 million traders.
FBS is completely regulated while you also get access to MetaTrader 4 and 5 platforms, as it is compatible with iOS, Android, Mac OS, Windows, WebTrader, and other desktop applications.
Yes, FBS has its mobile trading app, which allows more than 50 currency pairs, which allows you for real-time stats and charts. It has a leverage of around a 1:50 ratio.
HYCM Forex Broker – Top Forex Companies
Henyep Markets is all regulated and is registered indeed. It is in the financial market for over 4 decades, which trades in more than 300 instruments with more than 5 asset types such as cryptocurrencies, forex, currency pairs, stocks, ETF, and commodities.
Well, it is easy to open a trading account as the funding to the account is the easiest, while they accept wire transfer, VISA, WebMoney, Skrill, Neteller, which supports an initial deposit of $100.
Conclusion – Best Forex Broker in India
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.
Open a Forex Trading Account Now! – Fill up the Form
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