Trading forex is increasingly popular in India, but is also somewhat unique and fairly heavily regulated.
As a general rule, it's best to use a broker regulated in your country. However, due to restrictions on locally regulated financial institutions in India, the only way for local citizens to speculate in the forex market is to use a foreign broker — such as those on our list — that accepts clients who reside in India.
The Securities and Exchange Board of India, or SEBI, is the financial regulatory body in India. The SEBI was established in 1988 as a nonstatutory body and given powers with the SEBI Act 1992.
Best Forex Brokers India
To find the best forex brokers in India, we created a list of all brokers that accept new customers from India and ranked them by their Overall ranking, calculated during our in-depth annual review of forex brokers. This exacting analysis of more than 100 variables includes our proprietary Trust Score (more on Trust Score below).
Here is our list of the best forex brokers in India.
- IG - Best overall broker, most trusted
- Saxo Bank - Best web-based trading platform
- Interactive Brokers - Great overall, best for professionals
- FOREX.com - Excellent all-round offering
- AvaTrade - Great for beginners and copy trading
- Admiral Markets - Great for MetaTrader
- IC Markets - Best MetaTrader broker overall
India Forex Brokers Comparison
Compare India authorised forex and CFDs brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm's ForexBrokers.com Overall ranking.
In addition to our top picks above, we've reviewed and rated several more brokers who accept residents of India as clients, included below.
| Forex Broker | Average Spread EUR/USD - Standard | Minimum Deposit | Overall | Visit Site |
|---|---|---|---|---|
| IG | 0.828 | £250.00 | Visit Site | |
| Saxo Bank | 0.800 | $2,000.00 | Visit Site | |
| Interactive Brokers | 0.600 | $0 | Visit Site | |
| FOREX.com | 1.100 | $100.00 | N/A | |
| AvaTrade | 0.910 | $100.00 | Visit Site | |
| Admiral Markets | 0.800 | 100 | N/A | |
| IC Markets | 0.620 | $200 | Visit Site | |
| Capital.com | 0.800 | $20.00 | Visit Site | |
| XM Group | 1.600 | $5 | Visit Site | |
| FP Markets | 1.200 | $100 AUD | Visit Site | |
| Tickmill | 0.270 | $100.00 | Visit Site | |
| HYCM | 0.600 | $100 | N/A | |
| BDSwiss | 1.500 | $100-$5000 (depending on account type) | Visit Site | |
| HFM (HF Markets) | 1.200 | $5 | Visit Site | |
| Vantage | 1.220 | $200 | N/A | |
| Moneta Markets | 1.220 | $50.00 | N/A | |
| VT Markets | 1.200 | $200 | Visit Site | |
| Eightcap | $100 | N/A | ||
| ACY Securities | 1.200 | $50 | Visit Site | |
| Trade Nation | 0.60 | $0 | N/A | |
| BlackBull Markets | 0.845 | $200 | Visit Site | |
| OctaFX | 0.600 | $25 | N/A |
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
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