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 2022, 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 2022)
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.
|Broker Reviews||Rating||Demo||Leverage||Bonus||Platforms||Min Deposit||Payments|
|OctaFX||9||yes||1:500||up to 50%||MetaTrader 4, Metatrader 5, cTrader||50||Neteller, Skrill, Fasapay, Visa, Mastercard, Malaysian, Vietnamese, Indian, Indonesian, Bangladeshi local banks, Bitcoin, Unionpay|
|XM||8||yes||1:888||$30 no deposit||MetaTrader 4, Metatrader 5, XM Webtrader||5||Credit/Debit Card, Neteller, Skrill, WebMoney, Bank Wire Transfer|
|LiteFinance||7||yes||1:500||30% + 15%||Metatrader 4, Metatrader 5, WebTerminal||10||Skrill, Webmoney, Bitcoin, Advcash, Credit Card|
|AvaTrade||6||yes||1:400||100%||AvaTrader, MetaTrader 4, MetaTrader Floating Spread, Mac Trading, Web Trading, Mobile Trading, Automatic Trading, AvaOptions||100||Credit Cards, Debit Cards, Skrill, Wire Transfer, PayPal, Neteller, WebMoney|
|InstaForex||6||yes||1:1,000||$100 No Deposit Bonus||MetaTrader 4, Metatrader 5, Webtrader||1||Some local Bank transfers, PayCo, AstroPay, Cryptocurrency|
|PrimeXBT||6||yes||1:1000||PrimeXBT, Turbo||1||Credit Cards|
|Anzo Capital||6||yes||1:1000||MetaTrader 4||100||Webmoney, Skrill, Neteller, Credit Cards|
|FxPro||5||yes||1:500||up to $1,000||FxPro cTrader, FxPro cTrader Web, MT4 Client Terminal, MT4 MultiTerminal, MT4 WebTrader, MT4 Premium||100||Credit/Debit Card, Bank Wire, PayPal, Neteller, Skrill|
|FXCM||5||yes||1:200||-||Trading Station II, MetaTrader 4, Active Trader, Forex System Selector||250||Credit/Debit card, Online Check, Bank Wire, Paper Check|
|Plus500||5||yes||1:200||30%||Plus500||500||Skrill, Credit Cards, Wire Transfer|
|Dukascopy||4||yes||1:500||-||Dukascopy||250||Wire, Bank Guarantee, Standby letter of Credit Segregated Accounts|
|Forex.com||4||yes||1:200||-||ForexTrader platform (in-house), MetaTrader 4||50||wire transfer, Credit/Debit Card, Check|
|HYCM||4||yes||1:400||25% up to $5,000||Metatrader 4||100||credit cards, wire transfer, Skrill, webmoney|
|IronFX||4||yes||1:500||40%||Metatrader 4||100||credit cards, Fasapay, neteller, qiwi, skrill, webmoney, wire transfer|
|CMTrading||4||yes||1:400||15% match||MetaTrader 4, Sirix||200||credit/debit cards, Wire transfer, CashU ,Skrill|
|Blueberry Markets||4||yes||1:500||MetaTrader 4||100||credit cards, wire transfer, POLi, Skrill|
|Priorfx||4||yes||1:200||Metatrader 4, Webtrader, Autotrade||250||wire transfer, credit cards, Skrill, Neteller, PriorFX prepaid card, Yandex, Webmoney, Qiwi, UnionPay|
|Trade Nation||4||yes||1:30; 1:200||in-house web-based platform, Metatrader 4 MT4||1||Credit Card, Srill|
|FXDD||3||yes||1:200||-||MetaTrader4, FXDD Trader, Power Trader, FXDD Auto, MTXtreme||100||Wire, PayPal, Check, BPS|
|Tallinex||3||yes||1:1,000||Metatrader 4||100||credit cards, wire transfer, Skrill, Neteller|
|Oanda||3||yes||1:50||Metatrader 4, FXtrade||1||check, Credit cards, PayPal, Wire transfer|
|iFOREX||3||yes||1:400||-||FXnet Trader||100||credit cards, wire transfer|
|AdvancedMarkets||3||yes||1:50||-||Advanced Trader/Pro/Prime, Fortex FX||500||Wire, Check|
|FP Markets||3||yes||1:500||10% credit bonus||MetaTrader 4 (MT4), IRESS, Mobile trading||200||credit cards, UnionPay, Neteller, Skrill (3% fee), Wire transfer, BPay and broker-to-broker transfer|
|DFMarkets||3||yes||1:200||10% Trading Credit Promotion up to $1,000||DFTrader, DF WebTrader, DF Mobile||100||Bank wire, Credit/Debit cards|
|Tickmill||3||yes||1:500||-||MetaTrader 4, Webtrader||100||wire transfer (commission are charged), credit/debit cards, Skrill, Neteller, FasaPay, UnionPay and WebMoney|
|TenkoFX||3||yes||1:500||MetaTrader 4, Webtrader||10||Skrill, Neteller, FasaPay, Webmoney, Yandex Money, Qiwi|
|Z.com Trade||3||yes||1:200||Z.com trader web, Z.com trader pro (demo account only)||1||credit cards, wire transfer, china unionpay, skrill|
|Freshforex||3||yes||1:1000||+5% to each cryptocurrency deposit; get 300% for each deposit||Metatrader 4||1||WebMoney, ePayService, Skrill , FasaPay, ADVCash, Perfect Money, Neteller, OnlineNaira NGN/USD, E-wallets for the Philippines, Visa/Mastercard/Maestro USD/EUR, Local Depositors, Bitcoin, Internet Banking|
|Pepperstone||3||yes||1:500||100% Match Bonus||Metatrader 4, Metatrader 5, cTrader, cAlgo, cMirror||200||bPay, credit cards, Paypal|
|TradeFW||3||yes||1:30||https://www.forexexplore.com/forex-brokers/tradefw-review||0||Bank wire, Credit/Debit Card.|
|CMCMarkets||2||yes||500:1||-||Next Generation web-based||1||Credit cards, Wire Transfer|
|ActivTrades||2||yes||1:400||Metatrader 4, Activtrader||100||Credit Card, Wire transfer, neteller, skrill, sofort|
|Hotforex||2||yes||1:1,000||100% bonus||Metatrader 4, mobile platform, rapid trader fix/api||5||credit cards, skrill, Unionpay, neteller, wire transfer, webmoney, fasapay|
|Alpari||2||yes||1:500||50% Welcome||MetaTrader 4||1||Debit or Credit Card, Wire Transfer|
|FinPro Trading||2||yes||1:200||100%||Metatrader 4, zulutrade, Finopro station||5||credit cards, paypal, skrill, wire transfer|
|Blackwell Global||2||yes||1:200||-||MetaTrader 4, Blackwell Pro, Mobile||2000||redit/debit cards, Neteller, Skrill, Wire transfer|
|AAAfx||2||yes||1:200||up to 30%||ZTP, MetaTrader 4, Binary options webtrader, Zulutrade||300||Wire, Credit Card, Skrill, Neteller, giropay, EPS, directpay24, teleingreso, ideal, qiwi, Bitcoin|
|XTB||2||yes||1:200||Metatrader 4, xStation, xMobile||250||Credit cards, Neteller, Paypal, Skrill, Wire transfer|
|EasyMarkets||2||yes||1:100||Metatrader 4, EasyMarkets web-based platform||100||credit cards, neteller, Skrill, Webmney, wire transfer|
|CityIndex||2||yes||1:400||-||MT4 (MetaTrader 4), Advantage Web, Advantage Trader, iPhone, Android, Windows Phone App, iPad and Tablet App||100||Credit/Debit Cards|
|Markets.com||2||yes||1:200||up to $2,000||Meta Trader 4,MarketTrader, Market WebTrader, Market Java Trader, Market Mobile Trader, Market WAP Trader, Market iTrader, Market AutoTrader||100||Credit/Debit Cards, Wire Transfer, Webmoney, Local Payments|
|eToro||1||yes||1:30; 1:1 for Crypto Currencies||-||eToro Platform||200||Credit Cards, Debit Cards, Paypal, Neteller, Skrill, Webmoney, Wire Transfer|
|Tifia||1||yes||1:1,000||Metatrader 4, webtrader||10||wire transfer, credit cards, skrill, neteller, perfect money, fasapay, okpay|
|RealTrade||1||yes||1:500||30% welcome bonus||MetaTrader 4||20||Credit Cards, WebMoney, and Wire Transfer|
|FXOpen||1||yes||1:500||$100||MetaTrader 4||1||Wire, WebMoney, AlertPay, CashU, c-gold, PerfectMoney|
|House of Borse||1||yes||1:100||MetaTrader 4||50000||credit cards, wire transfer|
|Igofx||1||yes||1:1,000||Metatrader 4||1||wire transfer, credit cards, perfect money|
|Fort Financial Services||1||yes||1:1,000||MetaTrader 4, CQG, Ninja trader, binary options||5||Credit cards, webmoney, Skrill, Neteller, perfect money, fasapay, wire transfer|
|TraderTrust||1||yes||1:200||100% upto $5,000||SmartForex||100||Skrill, Credit Cards|
|MEX Exchange||1||yes||1:500||Metatrader 4||25||Neteller, Skrill, Fasapay, UnionPay, Credit Cards, Wire Transfer|
|FBS||1||yes||up to 1:3,000||$123 Welcome Bonus||MetaTrader 4, Metatrader 5, Webtrading||1||credit cards, fasapay, Indonesia local banks, Neteller, okpay, perfectmoney, Skrill, Webmoney, wire transfer, Thai local banks, Exchangers, Malaysian banks and Bitcoin by Skrill|
|Forexer||1||yes||1:500||Forexer platform (Metatrader 5 version)||200||wire transfer|
|Simplefx||1||yes||1:100||MetaTrader 4 and in-house web-based platform||1||Wire transfer, Credit/debit cards, Skrill, Neteller, Astropay, Webmoney, FasaPay, Qiwi, Moneta, ru, Yandex, China UnionPay, Bitcoin and litecoin|
|Synergy FX||1||yes||1:500||MetaTrader 4||500||credit cards, skrill, wire transfer|
|Financika||1||yes||200:1||Profit, WebProfit, MetaTrader 4||250||credit cards, wire transfer|
|FCI Markets||1||yes||1:100||Currenex, FCI NetStation, MetaTrader 4||250||credit cards, neteller, skrill, wire transfer|
|Fortrade||1||yes||1:200||Fortrader||500||wire transfer, credit cards, skrill, neteller|
|FXGiants||1||yes||1:500||MetaTrader 4||500||credit cards, neteller, paypal, skrill, unionpay, Webmoney, Wire Transfer|
|FXGlobe||1||yes||1:500||MetaTrader 4||250||Credit cards, Neteller, Skrill, Wire transfer|
|FXlider||1||yes||1:200||MetaTrader 4, Sirix, ZuluTrade, FXlider mobile, FXlider Copy Trader, FXlider Trader||100||wire transfer, credit cards, neteller, skrill|
|FXonus||1||yes||1:500||MetaTrader 4||500||Credit Cards, Skrill, Neteller, Wire Transfer, China Union Pay|
|FXoro||1||yes||1:400||Metatrader 4||200||credit cards, wire transfer, skrill, neteller, ecoPayz, CashU|
|FXprimus||1||yes||1:500||Metatrader 4||100||Bitcoin, China UnionPay, FasaPay, Neteller, Skrill, Wire Transfer|
|Infinox||1||yes||1:300||Metatrader 4||100||credit cards, wire transfer, skrill, neteller, china unionpay|
|Itrader||1||yes||1:500||MetaTrader 4, Webtrader (in-house), Mobile||250||wire transfer, credit cards|
|JCMFX||1||yes||1:1,000||MetaTrader 4||10||credit cards, FasaPay, Wire Transfer, Neteller, Skrill|
|Larson&Holz||1||yes||1:500||Metatrader 4, Web Trader||100||credit cards, wire transfer, neteller, paypal, Yandex, liqpay, alfa click, beeline, mtc, perfect money|
|LCG||1||yes||1:500||MetaTrader 4, LCG Trader (web-based, ECN accounts only)||1||wire transfer, debit/credit cards, Skrill|
|LMFX||1||yes||1:1,000||100% match bonus, 15% recovery||Metatrader 4, Webtrader||50||credit cards, Fasapay, neteller, okpay, skrill, wire transfer|
|LQDFX||1||yes||1:500||MetaTrader 4, xStation||20||Wire transfer, Credit cards, Skrill, Neteller, Unipay, FasaPay, SoFort, iDeal|
|Mahi FX||1||yes||1:100||Metatrader 4, MahiFX||1||wire transfer, credit cards|
|Paxforex||1||yes||1:500||No deposit $7 bonus – cannot withdraw||MetaTrader 4||10||Credit cards, FasaPay, Neteller, OKPAY, Perfect Money, QIWI, Skrill, UnionPay, WebMoney, Wire Transfer|
|Pricemarkets||1||yes||1:400||MetaTrader 4 ECN, Currenex ECN, Integral FX, Liquid-x, Hotspot FX||500||wire transfer, credit cards|
|Rallytade||1||yes||1;1,000||Metatrader 4, xStation (web-based), xSocial, xOptions||100||credit cards, neteller, skrill, Interswitch, Pocketmoni, etraszact, perfectMoney, WebMoney, VoguePay|
|Range Markets||1||yes||1:500||Metatrader 4||100||Neteller, Credit Cards, wire transfer|
|Rekuten Securities||1||yes||1:50||MarketSpeed FX, Trading Station (inherited from FXCM)||1||wire transfer, checks, ATM (only for local residents)|
|Roboforex||1||yes||1:500||MetaTrader 4, cTrader||1||credit cards, QIWI wallet, webmoney, Yandex.money, RBK money, Skrill, FasaPay, CashU, Payoneer, China UnionPay, Neteller, Perfect Money|
|Templefx||1||yes||1:400||MetaTrader 4, TempleFX Trader (web-based)||50||Wire transfer, credit cards, Skrill, Sofort, Neteller, UnionPay|
|Tradeo||1||yes||credit cards, wire transfer, Skrill and Neteller||20%||Tradeo webtrader, Metatrader 4||250|
|Tradersway||1||yes||1:1,000||Metatrader 4, ctrader||0||Skrill, Neteller, Perfect Money, Webmoney, QIWI, MonetaRu, EasyPay, Boletto, CashU|
|Trading212||1||yes||1:200||Trading212||100||wire transfers, credit and debit cards, PayPal, Dotpay, Giropay, SafetyPay, Carte Bleue, Mister Cash, Direct eBanking, CashU and UnionPay|
|Tradize||1||yes||1:1000||100||Skrill, Neteller, credit cards|
|TurnkeyForex||1||yes||1:200||00% deposit bonus; 30 days of commission-free trading; 30% rescue bonus||MetaTrader 4, Trade Station||5||credit cards, wire transfer, neteller|
|Whaleclub||1||yes||1:100||in-house whaleclub web platform||1||bitcoin|
|AGEA||0||yes||1:500||$5 no-deposit bonus||Streamster, MetaTrader 4||1||Credit Cards, Wire, Skrill, Webmoney, e-Dinar, Neteller, FasaPay, Perfect Money|
|Oinvest||0||yes||1:200||Samsung Galaxy, iPhone||Metatrader 4||200||Skrill, Neteller, Credit Cards|
|FxGlory||0||yes||1:3,000||50% up to $1,000||MetaTrader4, Mobile||1||Credit/debit cards, Paypal, Bitcoin|
|TrioMarkets||0||yes||1:300||-||MetaTrader 4, Sirix Webtrader||100||Credit Card, Wire, Skrill, Neteller, Paypal and CashU|
|Orbex||0||yes||1:500||MetaTrader 4||500||Skrill, Neteller, Wire Transfer, Credit Cards, CashU, Webmoney|
|AccentForex||0||yes||1:500||50%||MetaTrader 4||10||WebMoney, OkPay, Skrill, Wire Transfer, Credit Cards|
|GrandCapital||0||yes||500:1||$500 no deposit||MetaTrader 4, WebTrader||10||Credit card, Neteller, Webmoney, CashU, Fasapay, Scrill, Webmoney|
|10Markets||0||yes||1:200||n/a||MetaTrader 4, 10Markets WebTrader||200||Debit/Credit Cards, Wire Transfer|
|AlfaTrade||0||yes||200:1||-||MetaTrader4, Webtrader||500||Wire Transfer, Credit Cards, Skrill, Neteller|
|Squared Financial||0||yes||300:1||-||MetaTrader 4, mobile||500||wire Transfer, CashU, Credit Card, PayPal|
|Alvexo||0||yes||400:1||-||MetaTrader 4, WebTrader, Mobile||5000||Cash-U, Credit Card, Webmoney, Wire Transfer|
|RubixFX||0||yes||400:1||-||MetaTrader 4||500||Wire Transfer, Credit Cards|
|NSFX||0||yes||200:1||Metatrader 4, Webtrader, NSFX Jforex platform||300||credit cards, Skrill, CashU and wire transfer|
|FXGrow||0||yes||200:1||-||MetaTrader 4, NetStation||100||Credit/Debit cards, Skrill, Neteller, OkPay, CashU, WireTransfer|
|Juno Markets||0||yes||1:400||-||MetaTrader 4||500||neteller, skrill, credit cards, wire transfer|
|TeleTrade||0||yes||1:200||24%||MetaTrader 4, Mobile||2000||credit cards, Wire transfer, Neteller, Skrill|
|KGIeworld||0||yes||1:50||-||MetaTrader 4||1000||Wire Transfer, Check|
|Abshire-Smith||0||yes||1:200||Vertex fx, Metatrader 4, straticator||500||CashU, Neteller, Skrill, Wire Transfer|
|Adamant Finance||0||yes||1:500||Metatrader 4||1||Bitcoin, CashU, credit cards, FasaPay, MegaTransfer, Neteller, OKPAY, QIWI, Webmoney, Yandex.Money|
|Alfa Financial||0||yes||1:100||MetaTrader 4, AX1Trader||10000||yes|
|BlitzBrokers (IB for AxiTrader)||0||yes||1:500||MetaTrader 4||1||Credit cards, Neteller, Skrill|
|CIBfx||0||yes||1:200||MetaTrader 4||100||Paypal, Skill, Credit Cards, Neteller|
|Citypoint Trading||0||yes||1:100||MetaTrader 4, Vertex||20||credit cards, wire transfer|
|CMS Trader||0||yes||1:200||Sirix||500||credit cards|
|Darwinex||0||yes||1:200||MetaTrader 4, cTrader||500||Bank Wire, Credit Cards, UnionPay|
|ETX Capital||0||yes||1:200||ETX Trader Pro, Metatrader 4, ETX binary||100||credit cards, wire transfer, firopay, neteller, skrill, sofort, china unionpay|
|Hydra Markets||0||yes||1:1,000||Metatrader 4||100||Skrill, Neteller, credit cards|
|Swissmarkets||0||yes||1:500||Metatrader 4, Webtrader||200||credit cards, wire transfer, neteller, skrill, iDEAL, giropay|
|Trade360||0||yes||1:1,000||35%, $60 no deposit for real account||Trade360||100||credit cards, skrill, neteller, wire transfer|
|ForexMart||0||yes||1:1,000||$150 no deposit needed||Metatrader 4||1||credit cards, Neteller, Skrill, Paypal, Paxum? Bitcoin|
|Trader.Online||0||yes||1:200||Trader.Online Platform||250||Credit Cards, Wire Transfer|
|Forexee||0||yes||1:500||Special trading commission $1, Welcome Bonus $15 for STP, 0% commission for deposits||MetaTrader 4||50||Credit Cards, Webmoney, Wire Transfer, Skrill, Neteller, Bitcoin, Bitcoin Cash, litecoin, Fasapay, etherium, Payza, Perfect Money|
|AETOS||0||yes||1:200||MetaTrader 4||250||Bank wire transfer, Credit cards, Debit cards, Skrill, ZOTAPAY|
|LH-Crypto||0||yes||1:500||Metatrader 4, Metatrader 5||10||Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Monero, DASH, Ripple, NEO, Visa, MasterCard, Web Money, QIWI, wire transfer|
|1Market||0||yes||1:400||Webtrader, Metatrader 5||250||credit cards, bank wire transfers, Neteller, Skrill, Sofort, Rapid, PaySafe Card and Volt|
|PlusMarkets||0||yes||1:30||Metatrader 4, PlusMarkets Trader||0||cards, wire transfers, and some alternative payment methods, which aren’t specified|
|HonorFX||0||yes||1:500||Metatrader 5||100||Credit Cards, Neteller, Skrill, Paypal, Bitpay, Fasapay, Perfect Money|
|Tiger Brokers||0||Up to 4x (day trade), Up to 2x (next day)||Tiger Trade||0||Bank Wire Transfer, FAST, DDA, PayNow|
|MarketBull||0||yes1000||1:1000||100% match the deposit||Metatrader 4||1000||Credit Cards, Neteller, Skrill, Bank Wire Transfer|
|CedarFX||0||yes||1:500||MetaTrader 4||50||Credit Card, Bank Wire, Bitcoin|
|GCI Trading||0||yes||1:400||50% on deposit||MetaTrader 4, ActTrader||500||Bank Wire Transfer, Credit Card, Neteller, Skrill|
|Axi||0||yes||1:400||Metatrader 4||200||Debit 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 Transfer|
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.