Best forex broker in india

Forex Broking in India is new and there is still a lot of doubt about its legality but lately some of the major forex brokers have started operating in India.The list given below is not in the ranked format but talks about the major Forex broker in Indian Market. But before starting to trade in Forex market in India, make sure to understand the intricacies of it. Please read the basic of Forex trading and Type of forex broker in India.

eToro The call themselves “YOUR SOCIAL TRADING NETWORK”. You can open an account and see what other traders are doing and sometimes follow the trader which you think is most profitable.
  • Leverage Upto 400:1
  • Innovative Social Trading Platform
  • Min Deposit of $50
  • Spreads starts from 3pips
  • 24-Hour Support
  • Minimal initial depositBest Forex Broker in India
  • Variety of trading tools
  • Trading accounts with fixed or floating spread
  • Multicurrency accounts, swap-free accounts
  • Instant account deposits
  • МТ4 and МТ5 trading platforms
  • 5 trading servers
  • Competent assistance service 24/5
  • Bonus programs and contests with real prizes
The provide trading in ECN.
  • $50/€50 minimum deposit
  • 44 currency pairs, gold, silver
  • Spreads from 1 pip
  • Provide trading in MT
  • Credit leverage up to 1:200
  • Minimal lot 0.01
  • Maximum position volume – no limits
  • Maximum number of opened positions and pending orders – no limits
FXCM : This is one of the largest Forex broker in world and it also listed on NASDAQ.
  • Free Trading Signals
  • Lower Spreads – Euro/U.S. dollar spread is frequently 2.5 pips, British pound/dollar 2.8 pips
  • No Dealing Desk Forex Execution
  • No conflict of interest between broker and trader
  • No dealer intervention in trades
  • Place entry orders anywhere—even inside the spread
  • Scalp the market
  • Rollover transparency—all amounts are displayed in advance
  • Receive positive rolls at all margin levels

Exness Forex Broker :

They Provide trading in both as ECN and Market maker. Please understand which account is better suited for your trading needs.

  • Minimum spread starting at 0 pips to 1 pips
  • Automatic withdrawal
  • Execution in 0.1 second
  • 134 currency pairs, CFDs on stocks and futures from the world leading exchanges
  • Leverage up to 1:2000
 FBS Awarded the Best Forex Broker Asia” at the World Finance Foreign Exchange Awards 2012.
  • Minimal Deposit $5
  • Order Volume Min. 0.01 lot, max. 10 lots, step 0.01
  • Leverage Up to 1:500
  • Spreads Fixed, starting at 2 pips, 4 digits
  • Trade Instruments12 currency pairs
  • Deposit Currency USD, EUR
  • Deposit Options Bank Wire, Liberty Reserve, more…
  • Swap-Free Accounts Available at registration

Documents needed to open Forex Brokers account

Most of the Forex brokers will need your Identity proof, so either you Passport, Driving license etc. Other than that you will need a address proof so either bank statement or telephone statement will work for it.

Update : Should you Open account with them

These brokers are operating in India but as per RBI guidelines, you cannot trade with Forex brokers in non INR currency. So I would suggest that if you are interested in forex broking, start an account with one of the discount brokers like Zerodha or RKSV and trade in currency derivative. The brokerage they charge is very low and the liquidity in these contracts have also increased lately. This is also fully approved by RBI and Govt. of India and you don’t have to worry about any compliance at a later date. The leverage is not very high but if you are just starting to trade in this, it is even better.

Comments

  1. Aapko yaha koi ans nahi dega kyoki its illegal to trade forex in india without indian providers

  2. Sir,
    I had opened an account with SVSFX, (website svsfx.com/in) recently. Is it legal in India to do forex trading with them. Parently, they are based in UK, and having office in India.

    Kindly guide me whether is it safe and legal to trade with SVSFX, in India.

    • MN Appaji Gowda says:

      1. I also have live account. Their support system is poor or nil.
      2. Regarding deposit and withdrawals it is all via media agents.
      3. No assurance on legality.

  3. Vineet Chauhan says:

    Dear Admin,

    is etoro is suitable trading portal for forex trading with different currency pair through india., is it safe.

    Thanks in advance

    vineet

  4. dear sir,

    can we start trading with these brokers in india without any legal problem kindly confirm

    thanks & regards
    suneel

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