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Best Day Trading Platforms and Brokers in India 2024

Written By

James Barra

Written By

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.

» James Barra Profile Page

Fact Checked By

Jemma Grist

Fact Checked By

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.

» Jemma Grist Profile Page

Updated

Apr 17, 2024

The best day trading brokers in India offer user-friendly platforms with strong charting tools, low fees, reliable execution and margin trading.

They also cater to day traders in India by providing accounts in a convenient currency, such as the Indian Rupee (INR), are authorized by a trusted regulator such as the Securities and Exchange Board of India (SEBI), and provide access to popular markets like the Bombay Stock Exchange (BSE).

Discover the top brokers for day trading in India. Every platform we recommend accepts traders from India, though you may need to sign up with a global brokerage to use popular day trading products like contracts for difference (CFDs).

Top 5 Platforms For Day Trading In India

Our experts have evaluated more than 490 online brokers and our hands-on tests show that these are the 5 best day trading platforms in India:

1. AvaTrade - AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit.
2. XM - XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading.
3. Exness - Exness remains an accessible broker for all experience levels, though experienced day traders will particularly appreciate the ultra-low commission rates, fast withdrawals and high-quality charting software.
4. 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.
5. Deriv.com - Deriv.com will suit day traders looking to make fast-paced trades using CFDs and multipliers with high leverage up to 1:1000. The broker is also the industry leader in synthetic indices, which simulate real market movements and are available around the clock.

Best Day Trading Platforms and Brokers in India 2024 Comparison

Best Day Trading Platforms and Brokers in India 2024 Comparison

Broker	INR Account	Minimum Deposit	Markets	Platforms	Leverage	Visit
	-	$100	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting	WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade	1:30 (Retail) 1:400 (Pro)	Visit
	-	$5	Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures	MT4, MT5	1:1000	Visit
	✔	$10	CFDs, Forex, Stocks, Indices, Commodities, Crypto	Exness Trade App, MT4, MT5, TradingCentral	1:2000	Visit
	✔	$0	Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies	Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral	1:50	Visit
	-	$5	CFDs, Multipliers, Forex, Stocks, Indices, Commodities	Deriv Trader, MT5	1:1000	Visit
	-	$10	Forex, CFDs, Indices, Commodities, Stocks	FXTM App, MT4, MT5	1:2000	Visit
	✔	$10	Options, Stocks, Commodities, Forex, Crypto, Futures,	Expert Option Web Platform	N/A	Visit
	-	$0	CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting	MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade	1:30 (Retail), 1:500 (Pro)	Visit
	-	$200	CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto	MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade	1:1000	Visit
	-	$100	CFDs, Forex, Indices, Commodities, Stocks, Crypto	MT4, MT5	1:500	Visit
	-	$100	Forex, CFDs, Stocks, Indices, Commodities, Futures, Options, Crypto	MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral	1:200 (Retail), 1:500 (Pro)	Visit
	-	$10	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures	R StocksTrader, MT4, MT5, TradingView	1:2000	Visit
	-	$1	Currencies, Cryptocurrencies, Stocks, Indices, Metals, Oil and Gas, Commodity Futures and InstaFutures	MT4, MT5	1:1000	Visit
	-	$0	Forex, CFDs, Indices, Shares, Commodities, Futures, Bonds, Cryptos (Bahamas Entity Only)	MT4	1:500 (entity dependent)	Visit
	-	$100	Forex, CFDs, Stocks, Indices, Commodities and Cryptos	Skilling Trader, MT4, cTrader, TradingView	1:1000	Visit

#1 - AvaTrade

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Review

Why We Chose AvaTrade

AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, alongside a comprehensive education center and multilingual customer support.

• Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting
• Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM
• Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
• Minimum Deposit: $100
• Minimum Trade: 0.01 Lots
• Leverage: 1:30 (Retail) 1:400 (Pro)

Pros

• AvaTrade is a heavily regulated and trustworthy broker with licenses from the ASIC, CySEC and more
• There's a great range of fee-free deposit methods, including bank wire, credit cards and popular e-wallets like Skrill
• Day traders can access stable spreads and zero commissions with no hidden fees

Cons

• A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
• Traders from the US are not accepted
• There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders

Visit AvaTrade

#2 - XM

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Review

Why We Chose XM

XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.

• Instruments: Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures
• Regulator: ASIC, CySEC, DFSA, FSC, FSCA
• Platforms: MT4, MT5
• Minimum Deposit: $5
• Minimum Trade: 0.01 Lots
• Leverage: 1:1000

Pros

• XM is a hugely respected broker authorized by tier-one regulators
• 1000+ instruments are available, including recently added thematic indices, providing exposure to emerging industries
• XM continues to deliver diverse and multilingual educational materials and offers a useful live education schedule for its webinars and insights

Cons

• PayPal deposits are not supported
• There is weak regulatory oversight through the global entity
• There's $5 inactivity fee after only 3 months, though this won't affect active traders

Visit XM

#3 - Exness

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Review

Why We Chose Exness

Exness is a Cyprus-based forex and CFD brokerage established in 2008. With over 260,000 clients, several awards and reputable licensing, the broker has maintained its position as a highly respected global brand. Active day traders can access the popular MT4 and MT5 platforms, raw spreads and multiple account types.

• Instruments: CFDs, Forex, Stocks, Indices, Commodities, Crypto
• Regulator: FSA, CySEC, FCA, FSCA, FSC, CBCS
• Platforms: Exness Trade App, MT4, MT5, TradingCentral
• Minimum Deposit: $10
• Minimum Trade: 0.01 Lots
• Leverage: 1:2000

Pros

• Top-tier licensing with the FCA and CySEC and a strong reputation with over 10 years in business
• There's a strong range of account types for all experience levels and requirements, including Cent, Pro and Raw spread solutions
• There's excellent 24/7 multilingual customer support via telephone, email and live chat

Cons

• There are several regional restrictions for retail traders including the USA, Europe and the UK
• Unlike most competitors, Exness doesn't provide its own education section
• There are no promotional deals or loyalty schemes for high-volume day traders

Visit Exness

#4 - Interactive Brokers

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Review

Why We Chose Interactive Brokers

Interactive Brokers (IBKR) is a premier brokerage for experienced traders, 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.

• Instruments: Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
• Regulator: FCA, SEC, FINRA, CBI, CIRO, SFC, MAS, MNB
• Platforms: Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
• Minimum Deposit: $0
• Minimum Trade: $100
• Leverage: 1:50

Pros

• While primarily geared towards experienced traders, IBKR has made moves to broaden its appeal in recent years, reducing its minimum deposit from $10,000 to $0.
• 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.
• 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.

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.
• 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.
• IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.

Visit Interactive Brokers

#5 - Deriv.com

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Review

Why We Chose Deriv.com

Deriv.com is a low cost, multi-asset broker with over 2.5 million global clients. With just a $5 minimum deposit, the firm offers CFDs, multipliers and more recently accumulators, alongside proprietary synthetic products which can't be found elsewhere. Deriv provides both its own in-house charting software and the hugely popular MetaTrader 5.

• Instruments: CFDs, Multipliers, Forex, Stocks, Indices, Commodities
• Regulator: MFSA, LFSA, VFSC, BFSC
• Platforms: Deriv Trader, MT5
• Minimum Deposit: $5
• Minimum Trade: 0.01 Lots
• Leverage: 1:1000

Pros

• There's a good range of fast deposit and withdrawal methods with zero payment fees and low minimum deposits
• Beginners and experienced day traders can access a good range of 20+ technical indicators in Deriv Trader vs 30+ in MT5
• The free demo account is ideal for practicing short-term trading strategies and no registration is required

Cons

• The range of 100+ assets trails some competitors such as Quotex which offers 400+
• There's no loyalty program or rebate scheme for high volume traders
• There are limited copy trading tools and analysis features compared to alternatives like IQ Cent

Visit Deriv.com

How To Choose A Day Trading Broker In India

Our many years in the day trading industry have taught us that there are several key factors to consider when selecting a broker:

Regulation and Trust

Always choose a day trading platform that can be trusted.

This will help protect you from unfair trading practices and even fraud. Choosing a trusted brokerage is particularly important given that India has been home to some high-profile scams over the years.

One notable example is ‘finfluencer’ and owner of ‘Baap of Chart’, Nasiruddin Ansari, who was found by the SEBI to have misled retail investors on social media that they could earn monthly returns of up to Rs 6,00,000 by following his stock recommendations.

That’s why we always check that day trading brokers are licensed by a trusted regulator, such as the Securities and Exchange Board of India (SEBI). That said, the SEBI does not authorize Indian brokers to offer popular short-term trading derivatives like CFDs.

As a result, we also recommend global brokers that accept Indian day traders whom we trust, an evaluation we routinely make by weighing the strength of their regulatory credentials, their track record, and their reputation in the industry.

The SEBI has the authority to ban Indian brokers from offering online trading. I recommend checking that a platform hasn’t been blacklisted before you open an account.

James Barra

Author

Day Trading Fees

Pick a day trading broker with low trading and non-trading fees.

This is especially important for day traders for whom a high volume of trades and associated transaction costs can cut into profits.

We recommend Indian day trading brokers with competitive pricing, an assessment we make by weighing the spreads on popular assets such as the USD/INR, and any non-trading costs like deposit/withdrawal charges with the quality of the broker’s trading tools and overall offering.

Charting Platforms and Apps

Opt for a day trading platform that is easy to use with tools to help you find opportunities.

For day traders, in particular, paying attention to charting features is important, as many intraday traders rely on technical analysis.

Advanced traders may need dozens of sophisticated indicators, but beginners should look out for key indicators like the Relative Strength Index, Stochastic Oscillator, and Bollinger Bands.

Our experts rate the day trading platforms, trading apps and tools provided as part of our exhaustive review process. We personally test the software to make sure it offers an excellent user experience with the charting tools day traders of all levels need.

Tradable Assets

Select a day trading broker that provides access to the markets you want to speculate on.

For Indian day traders, in particular, access to popular stock markets like the National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE) may be important. Equally, you may want to make short-term trades on the Indian Rupee.

The day trading brokers we recommend for Indian residents provide opportunities on a range of asset classes, often including stocks, forex, commodities, indices, and crypto.

Many also offer products specifically designed for short-term trading, such as contracts for difference (CFDs), which allow you to go long or short in the same product without owning the underlying asset.

Importantly, you can’t easily find Indian-regulated CFD brokers, so you may need to consider an international brokerage that offers these derivatives, though you may receive fewer legal protections.

Execution Speed and Quality

Open an account with an Indian day trading broker with fast and reliable order execution.

Opting for a brokerage that prioritizes swift execution is paramount for day trading strategies. Any lag in executing orders may result in missed trading opportunities or sub-optimal prices.

Moreover, the quality of execution plays a pivotal role, taking into account elements such as speed, pricing, and the likelihood of successful execution.

We favor day trading platforms in India that provide rapid and dependable execution, basing our assessment on a thorough review of execution policies and consideration of average execution speeds where we can source data.

Leverage and Margin Requirements

Sign up with a day trading broker that offers leverage with clear margin requirements.

Selecting a brokerage that offers leverage trading is a crucial factor for many day traders, as it has the potential to amplify earnings by allowing the management of more substantial positions with less capital.

For example, your day trading platform may offer you 1:5 leverage on Indian stocks, meaning that if you put down 1000 Rupees, you can open a position worth 5000 Rupees (5 x 1000).

Nevertheless, this also heightens the potential for increased losses, making it imperative for beginners to exercise caution.

Proficient risk management is essential, coupled with a thorough understanding of your broker’s margin requirements, which dictate the minimum capital necessary.

Minimum Account Deposit

Choose a day trading platform with an accessible deposit based on your financial situation.

This is particularly important for beginners, who may have limited trading capital. While many top day trading platforms that accept Indian traders have a minimum deposit of 20,000 Rupees or less, some even have no minimum deposit, catering to budget traders.

Methodology

To find the best platforms for day trading in India we looked at quantitative data and qualitative insights gathered during our exhaustive broker reviews, prioritizing several factors:

Bottom Line

Using our list of the best day trading brokers in India is a great way to find the right platform for your needs – we’ve done the hard work for you – testing, evaluating and rating firms.

If you are still unsure which brokerage to use, you can also explore their day trading platforms using a demo account first.

FAQ

What Is Day Trading?

Day trading is the practice of buying and selling financial instruments, such as shares on the National Stock Exchange of India, within a single trading day, with individuals aiming to capitalize on short-term fluctuations in prices.

Is Day Trading Allowed In India?

Retail investors are allowed day trade in India, though restrictions exist for institutional investors.

Indian day trading brokers may, however, have their own rules that you need to follow, especially around the use of margin trading.

It’s also worth keeping in mind that trading on Indian stock markets takes place between 9:15 am and 3:30 pm (IST), Monday to Friday. If you are intraday trading, you will probably want to make sure you have closed your positions by the end of the trading session.

Is Day Trading In India Safe?

Day trading in India, like elsewhere in the world, is risky. Many retail investors lose money, so only risk what you can afford to lose.

We also recommend making use of demo accounts to develop your day trading strategy and risk management plan before risking real funds.

Which Brokers Do Indian Day Traders Use?

The number of day trading brokers based in India and regulated by the country’s Securities and Exchange Board of India (SEBI) or Reserve Bank of India (RBI) is limited.

As a result, many Indian traders choose to open accounts with international brokers that offer products suitable for short-term trading, as there are hundreds to choose from.

However, local traders should be aware that choosing a brokerage based and regulated outside of India may limit your recourse options in the event of any issues.

How Much Money Do I Need To Day Trade In India?

Most platforms accepting day traders in India require an initial investment of 20,000 Rupees or less. That said, some brokerages, such as Pepperstone, have no minimum deposit.

We recommend that beginners, in particular, only trade in small amounts until they build their confidence and develop an effective day trading strategy.

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