Brokers With INR Accounts

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James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.
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Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
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An Indian Rupee (INR) trading account is based in India’s currency. Popular with Indians, they facilitate trades and transactions in a familiar currency while reducing conversion costs.

Explore the best brokers with INR accounts, personally tested by our experts.

Best Brokers With INR Accounts

Our tests show these are the 2 top trading platforms accepting INR accounts:

Click a broker for details
  1. 1
    Interactive Brokers

    Ratings
    4.5 / 5
    3.5 / 5
    4.5 / 5
    4.3 / 5
    3.3 / 5
    3 / 5
    4.4 / 5
    4.3 / 5
    4.3 / 5
    4.5 / 5

    $0
    $100
    1:50
    FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA
    Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
    Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
    Cheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit Card
    USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF
  2. 2
    Zacks Trade

    $2500
    $3
    FINRA
    Stocks, ETFs, Cryptos, Options, Bonds
    Own
    Wire Transfer, ACH Transfer, Cheque
    USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF

Here is a short overview of each broker's pros and cons

  1. Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
  2. Zacks Trade - Zacks Trade is a FINRA-regulated US broker offering trading on stocks, ETFs, cryptocurrencies, bonds and more through a proprietary terminal. The broker is geared toward active traders and offers very affordable fees on most assets as well as an app and a vast amount of market data.

Brokers With INR Accounts Comparison

Brokers With INR Accounts Comparison
Broker INR Account Minimum Deposit Markets Regulator
Interactive Brokers logo $0 Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA
Zacks Trade logo $2500 Stocks, ETFs, Cryptos, Options, Bonds FINRA

Interactive Brokers

"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."

Christian Harris, Reviewer

Interactive Brokers Quick Facts

Demo AccountYes
InstrumentsStocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
RegulatorFCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA
PlatformsTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
Minimum Deposit$0
Minimum Trade$100
Leverage1:50
Account CurrenciesUSD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

Pros

  • The TWS platform has clearly been built for intermediate and advanced traders and comes with over 100 order types and a reliable real-time market data feed that rarely goes offline.
  • IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account.
  • The new IBKR Desktop platform takes the best of TWS while adding bespoke tools like Option Lattice and Screeners with MultiSort to create a genuinely impressive trading experience for day traders at every level.

Cons

  • TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
  • You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
  • Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.

Zacks Trade

"Zacks Trade will suit active day traders with experience using powerful platforms. Fees and margin rates are low while the market research is excellent."

Tobias Robinson, Reviewer

Zacks Trade Quick Facts

Demo AccountYes
InstrumentsStocks, ETFs, Cryptos, Options, Bonds
RegulatorFINRA
PlatformsOwn
Minimum Deposit$2500
Minimum Trade$3
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF

Pros

  • 20+ account denominations
  • Comprehensive research and data
  • Customizable proprietary trading platform and mobile app

Cons

  • Withdrawal fees apply if removing funds more than once per month
  • High minimum requirement of $2,500
  • No MT4 or MT5 platform integration

How Did We Choose The Best Brokers?

To identify the top brokers with INR accounts we:

  • Leveraged our directory consisting of 500 brokers and trading platforms
  • Pinpointed those offering an account based in Indian Rupees
  • Ranked them by their rating, combining 100+ data points with our personal testing observations

What Is An INR Account?

An INR account is a trading account in which the balance is denominated in Indian Rupees.

This means that the cash you hold or instruments you trade will be displayed in INR. It will also be the currency used for establishing margin requirements – a popular approach used by day traders.

You can see an example where I signed up for an INR account at Interactive Brokers below.

Opening an INR account at Interactive Brokers
IBKR – INR Trading Account

Do I Need An INR Trading Account?

This account may be appropriate if:

  • You live in India and earn money in INR as it’s economical to operate a trading account in the same currency.
  • You frequently trade currency pairs that contain the INR, such as USD/INR and EUR/INR, because it reduces the need for conversion and associated charges.
  • You actively trade Indian equities listed on the National Stock Exchange of India as transactions are often faster and you don’t need to manage multiple currencies and exchange rates.

How Can I Check If A Broker Offers An Account In Indian Rupees?

Use these straightforward steps, which we took to check all our suggested trading platforms offer an INR account:

  1. Go to the account types page on the broker’s website to find a selection of ‘base currencies’.
  2. Confirm that ‘INR’ is available as a supported account currency for your country.
  3. Open a live or demo account and select ‘INR’ as your base currency.
💡
Changing your INR account to another currency is hassle once operational so make sure it’s what you want before signing up.

Pros & Cons Of INR Trading Accounts

Pros

  • Our tests show brokers with INR accounts often tailor their trading services to Indians in other ways, for example, providing localized customer support (available at Interactive Brokers) and Islamic accounts (Islam is India’s second-largest religion).
  • They can reduce conversion fees when trading in Rupees. This can save frequent traders, such as day traders, money as if you want to deposit INR to an account based in the USD, for example, some firms like IG charge 0.8% on top of the prevailing exchange rate from various banks.
  • For Indian day traders, they offer a convenient way to manage a high volume of trades and costs in a familiar currency, helping not to overwhelm newer investors especially.

Cons

  • Although there’s an increasing number of trading platforms with INR accounts, they are still pretty uncommon (less than 10% of brokers we’ve evaluated), meaning you’ll have fewer first-rate firms to choose from.
  • While the INR is a fairly stable currency (among its least volatile in the last 20 years according to Business Standard), maintaining balances in it will open you up to any fluctuations caused by changing oil prices for instance (India is a major oil importer).
  • The Indian Rupee still has relatively limited trading volumes compared to the likes of the US Dollar and British Pound, in part due to its status as an emerging economy and strict capital controls, so short-term trading the INR with other currencies may result in wider spreads.
  • Trading in popular international assets, such as US equities, may result in a conversion fee if your cash is in INR with Admirals, for example, charging 0.3% if you hold your balance in a non-USD account.

FAQ

Which Is The Best Broker With A INR Account?

See our ranking of the top-rated brokers with INR accounts to find the right platform for you.

How Much Does It Cost To Open A Trading Account Based In Indian Rupees?

You’ll need up to 250 USD, around 20,850 INR, to open a trading account based in Indian Rupees following our evaluations of close to 500 brokers, over 10 of which support INR trading accounts.

However, Interactive Brokers stands out with no minimum deposit in INR, making it the best option for budget traders.

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