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, 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.
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.
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.
Top Rated India Forex Brokers
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.