Online Brokers In India 2021 – Comparison & Reviews

If you’re based in India, selecting a day trading broker that meets your individual needs isn’t straightforward. There are over 70 online brokers in India, and many more operating globally – how do you know which broker to choose? Here we list the best day trading brokers in India with detailed reviews.

Despite a population of over 1 billion, there are only 20 million individual trading accounts registered to Indian citizens and far fewer brokers. That means if you’re on the search for good online brokers in India you may need to look further afield. Use the day trading discount brokers and accounts comparison table below.

Online Brokers In India

FXTM is a leading forex and CFD broker. Offering a huge range of markets and 6 account types, they cater to all levels of trader. Get a 30% Deposit Bonus - Get an extra 30% on top of your deposit – that’s up to $200 more to trade with.
Cryptocurrency
No
Regulator
CySec, ESMA, FCA and FSC of the Republic of Mauritius
MT4 Integration
Yes
Min. Deposit
From $50
Min. Trade
0.01 lots
Bonus
30% Up to $100 via Exinity Ltd
TP Global FX offers a long list of popular financial assets with spreads from 0.1 pips. With a focus on innovation and transparency, they are a growing brand.
Cryptocurrency
Yes
Regulator
SVG FSA, NFA, CAMA Nigeria
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 lots
Bonus
Seasonal Bonuses
Deriv.com are a new brokerage, offering options and CFDs on a simple, reliable, flexible platform. Get access to volatility indexes exclusively at Deriv.
Cryptocurrency
No
Regulator
Malta (MFSA), Labuan (LFSA), Vanuatu (VFSC), British Virgin Islands (BFSC)
MT4 Integration
Yes
Min. Deposit
€/£/$5
Min. Trade
0.01 Lots
Bonus
None
PrimeXBT is a Bitcoin-based platform offering highly leveraged trading in FX, indices, commodities, & cryptocurrencies.
Cryptocurrency
Yes
Regulator
Unregulated
MT4 Integration
No
Min. Deposit
0.001 BTC
Min. Trade
0.01 contract
Bonus
None
Open an account with just $10. Trade over 14 Cryptocurrencies directly, traditional forex with low spreads or trade digital options with payouts up to 900%.
Cryptocurrency
Yes
Regulator
CySEC
MT4 Integration
No
Min. Deposit
$10
Min. Trade
0.001 lots
Bonus
None
XM.com Offer a range of Account types and a low minimum deposit to appeal to all levels of trader. With 1000+ markets and low spreads they offer a great service.
Cryptocurrency
No
Regulator
IFSC, IIROC, CySEC, ASIC
MT4 Integration
Yes
Min. Deposit
5 $/€/£
Min. Trade
0.01 Micro lots
Bonus
Free VPN Services
Axi is a global online FX and CFD trading company, trusted by 60,000+ ambitious customers in 100+ countries around the world.
72.6% of retail investor accounts lose money when trading CFDs with this provider
Cryptocurrency
Yes
Regulator
FCA, ASIC, DFSA, FMA
MT4 Integration
Yes
Min. Deposit
0 $/€/£
Min. Trade
0.01 Lots
Bonus
None
Finq.com offer a great all round service with trading on 2100+ assets and immediate bonus offers. Up to $4000 in Deposit Bonuses.
Cryptocurrency
Yes
Regulator
FSA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 Lots
Bonus
None
Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.
Cryptocurrency
Yes
Regulator
CySEC, IIROC, NFA, CFTC, FCA, FSA, and CIMA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
$1
Bonus
None
easyMarkets.com - Simply Honest. Trade CFDs on Forex, Commodities, Indices, Shares & Cryptos With a Top Rated Forex Broker
Cryptocurrency
Yes
Regulator
CySec, ASIC, BVI
MT4 Integration
Yes
Min. Deposit
€100
Min. Trade
Varies by asset
Bonus
None
LegacyFX is a multi-asset broker offering an MT5 download & free signals.
Cryptocurrency
Yes
Regulator
CySEC, FCA, VFSC, NBRB
MT4 Integration
No
Min. Deposit
$500
Min. Trade
0.01 lots
Bonus
None
Pepperstone offers CFD trading to both retail and professional traders. Clients can trade FX, indices, commodities and shares on MT4, MT5 and cTrader platforms.
CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.
Cryptocurrency
Yes
Regulator
FCA, ASIC, SCB, DFSA, CMA, BaFin
MT4 Integration
Yes
Min. Deposit
£200 / $200
Min. Trade
0.01 Lots
Bonus
None
Reliable and affordable trading since 2009. Join over 400,000 others trading on 300+ CFD products over assets like forex, gold, indices and shares from 0.0 spreads through TradingView, MT4 or MT5. Vantage is ASIC regulated and client funds are segregated. Open an account in under 5 minutes.
Cryptocurrency
No
Regulator
ASIC, FCA, CIMA
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 Lots
Bonus
Up to 50%
Exinity provides flexible low-cost trading in FX, commodities, indices and equities alongside unique education and support provided by teams located across the world. Now operating in the Middle East, through regulation from the Financial Services Regulatory Authority in Abu Dhabi and the Financial Services Commission of Mauritius, Exinity provides a range of services to traders and investors looking for new opportunities in the financial markets.
Cryptocurrency
No
Regulator
FSRA, FCA, FSC, CMA
MT4 Integration
Yes
Min. Deposit
Trader Pro: $10,000 Trader: $100 
World:$20
Min. Trade
0.01 lots
Bonus
None
Global brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features.
Cryptocurrency
Yes
Regulator
CFTC, MAS, IIROC, NFA, FCA, ASIC, FFAJ, BVI
MT4 Integration
Yes
Min. Deposit
$0
Min. Trade
$0
Bonus
None
Trade Forex on 0.0 pip spreads with the world's leading True ECN forex broker - IC Markets.
Cryptocurrency
Yes
Regulator
ASIC, CySec, FSA
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 Lots
Bonus
None
Capital.com offer CFDs and Forex on a huge range of assets, with competitive spreads and unique platforms, including the fully functional mobile app.
75.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Cryptocurrency
Yes
Regulator
FCA, CySec, ASIC
MT4 Integration
Yes
Min. Deposit
£/$/€20 (Varies by payment method)
Min. Trade
Varies by asset
Bonus
None
RoboForex is a multi-asset online broker offering powerful trading aides.
Cryptocurrency
Yes
Regulator
IFSC
MT4 Integration
Yes
Min. Deposit
$10
Min. Trade
0.01 lots
Bonus
$30 welcome deposit bonus
FXChoice is an offshore retail broker offering MT4 and MT5 platform downloads.
Cryptocurrency
Yes
Regulator
IFSC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
15% deposit bonus with Bitcoin payments
FXCC is a highly regulated and trustworthy MT4 trading broker.
Cryptocurrency
No
Regulator
CySEC, FCA
MT4 Integration
Yes
Min. Deposit
$0
Min. Trade
0.01 lots
Bonus
None
Fusion Markets are delivering low cost forex and CFD trading via low spreads and trading costs. Their message is - Stop paying too much to trade
Cryptocurrency
Yes
Regulator
ASIC
MT4 Integration
Yes
Min. Deposit
$0
Min. Trade
0.01 Lots
Bonus
None
Pocket Option is a global binary options broker with sleek proprietary trading platform and competitive range of assets.
Cryptocurrency
Yes
Regulator
IFMRRC
MT4 Integration
No
Min. Deposit
$50
Min. Trade
$1
Bonus
50% Deposit Bonus
NordFX offer Forex trading with specific accounts for each type of trader. Zero accounts offer spread from 0 pips, while the Crypto offers optimal cryptocurrency trading. Open account from just $10.
Cryptocurrency
Yes
Regulator
VFSC
MT4 Integration
Yes
Min. Deposit
$10
Min. Trade
$1
Bonus
None
Bit Mex Offer the largest market liquidity of any Crypto exchange. Ultra low trading costs and minimum deposit requirements. Join in 30 seconds.
Cryptocurrency
Yes
Regulator
MT4 Integration
No
Min. Deposit
0.0001 XBT
Min. Trade
0.0001 XBT
Bonus
None
NinjaTrader offer Traders Futures and Forex trading. Use Auto-trade algorithmic strategies and configure your own trading platform, and trade at the lowest costs.
Cryptocurrency
No
Regulator
NFA, CFTC
MT4 Integration
Yes
Min. Deposit
$50
Min. Trade
Varies by asset
Bonus
None
EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
Cryptocurrency
Yes
Regulator
Unregulated
MT4 Integration
Yes
Min. Deposit
$10
Min. Trade
0.01 lots
Bonus
None
Moneta Markets is a regulated FX & CFD broker offering a proprietary web platform.
Cryptocurrency
Yes
Regulator
CIMA
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 lots
Bonus
50% deposit bonus
Coinbase is the easiest place to buy, sell, and manage your cryptocurrency portfolio.
This post contains affiliate links, and this website will be compensated if you make a purchase after clicking the links.
Cryptocurrency
Yes
Regulator
CBoI
MT4 Integration
No
Min. Deposit
0 $/€/£
Min. Trade
0.0001 XBT
Bonus
£5/$5 in BTC. Terms and Conditions Apply. See Review
Trade Nation is a top FX and CFD broker regulated in multiple jurisdictions incl the UK and Australia. They boast tight spreads and no minimum deposit.
Cryptocurrency
No
Regulator
FCA, ASIC, FSCA and SCB
MT4 Integration
Yes
Min. Deposit
$0
Min. Trade
0.1 lots
Bonus
1,000 sign-up reward points
Quotex offers a proprietary web platform that offers digital options and copy trading.
Cryptocurrency
Yes
Regulator
IFMRRC
MT4 Integration
No
Min. Deposit
$10
Min. Trade
$1
Bonus
Tiered deposit bonuses up to $105
SpreadEx offer spread betting on Financials with a range of tight spread markets. Popular award winning, UK regulated broker.
Cryptocurrency
Yes
Regulator
FCA
MT4 Integration
No
Min. Deposit
$1
Min. Trade
$1
Bonus
None
FBS is a top online broker offering MT4 & MT5 trading across a range of instruments.
Cryptocurrency
Yes
Regulator
ASIC 426359, CySEC 331/17, IFSC/000102/198, FSCA 50885
MT4 Integration
Yes
Min. Deposit
$1
Min. Trade
0.01 lots
Bonus
$100 welcome bonus
GO Markets is an ASIC-regulated FX & CFD broker.
Cryptocurrency
Yes
Regulator
ASIC
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 lots
Bonus
30% deposit bonus
ThinkMarkets is a multi-regulated forex and CFD broker
71.89% of retail investor accounts lose money when trading CFDs with this provider.
Cryptocurrency
Yes
Regulator
FCA, ASIC, FSCA, FSA Seychelles
MT4 Integration
Yes
Min. Deposit
$0
Min. Trade
0.01 lots
Bonus
None
IG offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have a 40 year track record of excellence.
Cryptocurrency
No
Regulator
FCA, MAS
MT4 Integration
Yes
Min. Deposit
£250
Min. Trade
£1
Bonus
None
IronFX offers online trading in forex, stocks, futures, commodities and cryptocurrencies
Cryptocurrency
Yes
Regulator
FCA, CySEC, ASIC, FSB
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
100% Sharing Bonus - double first deposit
Multi-Award winning broker. Specialising in Forex but also offering stocks and tight spreads on CFDs and Spread betting across a huge range of markets.
Cryptocurrency
Yes
Regulator
CySec, DFSA, FCA, SCB, FSCA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 Lots
Bonus
None
Dukascopy is a Swiss-based forex, CFD, and binary options broker
Cryptocurrency
Yes
Regulator
FINMA, FCMC, JFSA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
10% equity bonus
ExpertOption offer digital trading on Forex, Cryptocurrencies, commodities, indices and stocks. This high risk / high reward trading is only available to certain regions.
Cryptocurrency
Yes
Regulator
Financial Services Authority of St. Vincent and the Grenadines (SVGFSA)
MT4 Integration
No
Min. Deposit
10 $/€
Min. Trade
1 $/€
Bonus
100% Deposit Match
Binary.com are the established pioneers of binary options. The choice of the advanced trader, Binary.com offer the greatest flexibility of any binary broker. They also offer Forex and CFD via the MT5 platform.
Cryptocurrency
Yes
Regulator
MGA, SC
MT4 Integration
Yes
Min. Deposit
$5
Min. Trade
$1
Bonus
None
UFX are forex trading specialists but also have a number of popular stocks and commodities. Offering tight spreads and one of the best ranges of major and minor pairs on offer, they are a great option for forex traders.
Cryptocurrency
No
Regulator
CySec
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
$1
Bonus
None
Trade on the financial markets with low cost, leveraged products at HYCM.
Cryptocurrency
No
Regulator
FCA, DFSA, CIMA, CySEC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
10% deposit bonus up to $5,000
Binance is one of the leading online crypto exchanges offering Bitcoin.
Cryptocurrency
Yes
Regulator
FCA
MT4 Integration
No
Min. Deposit
$0
Min. Trade
$10
Bonus
None
Global Prime is a multi-regulated trading broker offering 100+ markets.
Cryptocurrency
Yes
Regulator
ASIC, VFSC, FSA
MT4 Integration
Yes
Min. Deposit
AUD $200
Min. Trade
0.01 lots
Bonus
None
Trade.com offers thousands of tradable assets on desktop and mobile platforms.
Cryptocurrency
Yes
Regulator
FCA, CySEC, FSCA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
Gemini is a leading crypto trading exchange with low fees and a long list of altcoins.
Cryptocurrency
Yes
Regulator
FCA
MT4 Integration
No
Min. Deposit
$0
Min. Trade
0.00001 BTC
Bonus
None
FP Markets is a multi-asset broker offering a choice of trading platforms.
Cryptocurrency
Yes
Regulator
ASIC, CySEC, ESMA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
Kraken is a top crypto trading exchange offering the largest altcoins by market cap.
Cryptocurrency
Yes
Regulator
FCA, FinCEN, FINTRAC, AUSTRAC, FSA
MT4 Integration
No
Min. Deposit
0.0001 XBT
Min. Trade
0.0002 XBT
Bonus
None
Paxful is a crypto trading exchange and digital wallet offering low fees and easy sign-up.
Cryptocurrency
Yes
Regulator
None
MT4 Integration
No
Min. Deposit
From 0.005 BTC
Min. Trade
10 USD
Bonus
None
Infinox is a UK-based broker offering MT4 trading with tight spreads.
Cryptocurrency
No
Regulator
FCA
MT4 Integration
Yes
Min. Deposit
£1
Min. Trade
0.01 lots
Bonus
None
Bitfinex is among the best crypto exchanges for experienced traders with a free mobile trading app and low fees.
Cryptocurrency
Yes
Regulator
None
MT4 Integration
No
Min. Deposit
$10,000
Min. Trade
$10
Bonus
None
Core Spreads offers CFD trading and spread betting across several asset classes on two top-tier platforms.
Cryptocurrency
No
Regulator
FCA
MT4 Integration
Yes
Min. Deposit
$0
Min. Trade
0.01 lots
Bonus
None
OKEx is a digital exchange offering trading on hundreds of cryptos across desktop and mobile applications with low fees.
Cryptocurrency
Yes
Regulator
None
MT4 Integration
No
Min. Deposit
10 USDT
Min. Trade
Variable
Bonus
$10 in BTC
AdroFX is a regulated, global broker offering forex, CFD and crypto trading with MT4 access and attractive welcome bonuses.
Cryptocurrency
Yes
Regulator
FSA, BSSLA
MT4 Integration
Yes
Min. Deposit
$25
Min. Trade
0.01 lot
Bonus
100% deposit bonus
Trade the markets with MT4 trading tools alongside CySEC regulation.
Cryptocurrency
Yes
Regulator
CYSEC, VFSC, FSCA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
OctaFX offers multi-asset trading on a range of platforms and mobile solutions.
Cryptocurrency
Yes
Regulator
CySEC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
50% deposit bonus
Rockfort Markets is a New Zealand broker with a competitive range of assets, trading platforms and market conditions.
Cryptocurrency
Yes
Regulator
FMA
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 lots
Bonus
20%
Spectre.ai is a blockchain-based binary options broker
Cryptocurrency
Yes
Regulator
St. Vincent and the Grenadines
MT4 Integration
No
Min. Deposit
$0
Min. Trade
$1
Bonus
None
Hantec Markets is a multi-regulated online FX broker offering MT4 and a tailored service providing huge flexibility to suit any trader.
Cryptocurrency
No
Regulator
FCA, ASIC, FSC, FMA, FSA, CGSE, JSC
MT4 Integration
Yes
Min. Deposit
$0
Min. Trade
0.01 lots
Bonus
None
FXOpen is a highly regulated FX & CFD broker offering multiple trading platforms.
Cryptocurrency
Yes
Regulator
FCA, ASIC
MT4 Integration
Yes
Min. Deposit
$300
Min. Trade
0.01 lots
Bonus
$10 no deposit bonus (non-UK traders)
LiteForex Investments Limited is a regulated Forex & CFD broker offering the MT4 & MT5 trading platforms.
Cryptocurrency
Yes
Regulator
Marshall Islands
MT4 Integration
Yes
Min. Deposit
$50
Min. Trade
0.01 lots
Bonus
Rebate on payment fees
Pacific Union is a multi-asset broker offering trading via the MT4 and MT5 platforms.
Cryptocurrency
Yes
Regulator
Cyprus Securities and Exchange Commission (CySEC) and Seychelles Financial Services Authority (SFSA)
MT4 Integration
Yes
Min. Deposit
$50
Min. Trade
0.01 lots
Bonus
$50 no deposit bonus
Fortrade is a multi-asset broker offering a simple live account with advanced tools.
Cryptocurrency
Yes
Regulator
FCA, ASIC, CySEC, NBRB, IIROC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
StormGain provides an online crypto trading platform & cloud mining tool.
Cryptocurrency
Yes
Regulator
None
MT4 Integration
No
Min. Deposit
50 USDT
Min. Trade
10 USDT
Bonus
Deposit bonus up to 20%
BlackBull Markets offers forex and CFD trading on the MT4 & MT5 platforms.
Cryptocurrency
No
Regulator
FMA, FSA
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 lots
Bonus
None
Admiral Markets is leading Forex and CFD broker offering the MT4 & MT5 platforms
Cryptocurrency
Yes
Regulator
FCA, CySEC, ASIC, JSC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
LMFX offers online forex and stock trading with low fees and high leverage.
Cryptocurrency
No
Regulator
None
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
100% deposit bonus up to $30,000
Olymp Trade Offer Fixed time trades over a huge range of markets. Established in 2014, the firm now boasts over 25k active traders each day.
Cryptocurrency
Yes
Regulator
FinaCom
MT4 Integration
No
Min. Deposit
€/$10
Min. Trade
€/$1
Bonus
None
LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
Cryptocurrency
No
Regulator
None
MT4 Integration
Yes
Min. Deposit
$20
Min. Trade
0.01 lots
Bonus
100% deposit bonus up to $20,000
ActivTrades offers online trading on the MT4, MT5 and ActivTrader platforms.
Cryptocurrency
No
Regulator
FCA
MT4 Integration
Yes
Min. Deposit
$500
Min. Trade
0.01 lots
Bonus
Cashback on trades
Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets
Cryptocurrency
Yes
Regulator
HCMC
MT4 Integration
Yes
Min. Deposit
$1 to $300 (Broker choice dependent)
Min. Trade
$1
Bonus
None
Forex broker Videforex accepts deposits in a range of cryptocurrencies. Payouts reach 95% per trade.
Cryptocurrency
Yes
Regulator
Unregulated
MT4 Integration
No
Min. Deposit
$250
Min. Trade
$1
Bonus
100% deposit bonus up to $3,000
Fondex is an award-winning forex and CFD broker with industry low trading costs
83.57% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Cryptocurrency
No
Regulator
FSA, CySEC
MT4 Integration
No
Min. Deposit
$0
Min. Trade
0.01 lots
Bonus
None
Coinmama aim to make entering the crypto market as easy as possible, offering BTC,ETH,LTC,ADA,BCH and XTZ
Cryptocurrency
Yes
Regulator
MT4 Integration
No
Min. Deposit
€/£/$100
Min. Trade
€/£/$100
Bonus
None
Deposit and trade with a Bitcoin funded account! Binarycent accept deposits in, and trade, 15+ Cryptocurrency types.
Cryptocurrency
Yes
Regulator
MT4 Integration
No
Min. Deposit
$250
Min. Trade
$.01
Bonus
20% to 100%
Trading 212 Offer a truly mobile trading experience. With tight spreads and a huge range of markets, they offer a dynamic and detailed trading environment. Recent customer care issues have severely damaged the reputation of the brand.
Cryptocurrency
Yes
Regulator
FCA
MT4 Integration
No
Min. Deposit
€/£/$1
Min. Trade
0.01 Lots
Bonus
None
Just2Trade offer hitech trading on stocks and options with some of the lowest prices in the industry
Cryptocurrency
Yes
Regulator
CySEC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
1 contract
Bonus
None
Ayondo offer trading across a huge range of markets and assets. They also offer negative balance protection and social trading.
Cryptocurrency
Yes
Regulator
FCA
MT4 Integration
Yes
Min. Deposit
£1
Min. Trade
£1
Bonus
None
Alpari offer forex and CFD trading across a big range of markets with low spreads and a range of account types that deliver for every level of trader from beginner to professional.
Cryptocurrency
Yes
Regulator
FSC of Maritius, SEBI
MT4 Integration
Yes
Min. Deposit
From $/£/€ 5
Min. Trade
0.01 Lots
Bonus
30% Up to $100. Terms Apply
AGEA is a regulated forex & CFD broker offering multiple trading platforms and account types.
Cryptocurrency
Yes
Regulator
Commission for Capital Markets
MT4 Integration
Yes
Min. Deposit
$1
Min. Trade
0.01 lots
Bonus
$5 no deposit bonus
Leading short term trading platform, offering high payouts, quick trading and a reliable service.
Cryptocurrency
No
Regulator
MT4 Integration
No
Min. Deposit
$10
Min. Trade
$1
Bonus
None
Show All Brokers ⇩

How To Compare Online Brokers In India

With the Bombay Stock Exchange (BSE) alone turning over half a billion dollars in day trading revenue, it’s no surprise there’s been a surge in the number of individuals turning their hand to intraday trading in India. But to do that, you’ll need to choose between the ever-increasing number of day trading brokers that are available to Indian traders.

Make sure you shop around before you sign up for a trading account. Everyone has different needs. The cheapest online brokers in India may be ideal for someone looking to implement a bot that will make hundreds of trades a day. However, if you’re making fewer trades but require serious charting and back-testing capabilities, you may be better suited to a broker on the other end of the price scale.

Top 5 online stock brokers in India

Whether you’re choosing an Indian stockbroker or a broker from elsewhere, there are several important factors to consider.

Assets & Markets

Indian Stocks

Large publicly traded companies in India are listed on either the Bombay Stock Exchange (BSE) or the National Stock Exchange (NSE). Trading takes place between 9:55 am and 3:30 pm (IST), Monday to Friday. If you’re interested in trading Indian stocks, make sure you open an account with a broker that offers access to Indian equities.

It’s also worth checking whether the broker offers access to any other assets that you’re interested in:

  • Cryptocurrency – The crypto market is booming in India. An estimated 8 million investors hold $1.4 billion in investments such as Bitcoin. Retail traders in India can purchase digital currencies from local brokers or global exchanges, such as Binance.
  • ForexForex trading is only legal at certified brokers. Also, local laws stipulate that currency trading must include Indian Rupee (INR) as the base currency. This measure was introduced to help stop the Indian Rupee from weakening against the US Dollar. Other authorised currencies to trade against the INR include the EUR and GBP.
  • Commodities – Online commodity trading in India takes place in either spot markets or futures markets. The most common way to trade commodities in India is through futures contracts. This is an agreement to buy or sell a commodity in the future at an agreed date. The main commodity exchanges include The National Commodity & Derivatives Exchange Limited (NCDEX), the Multi Commodity Exchange of India Limited (MCX), and The Indian Commodity Exchange Limited (ICEX).
  • Binary options – The legal status of binary options trading in India is a grey area. There are no licensed binary options brokers, so you will need to open an account with an offshore company. Offshore brokers that accept online traders from India include IQ Option and Olymp Trade.

Fees

Online brokers in India are normally split into two categories; full-service brokers and discount brokers. Traditional full-service brokers typically provide retail trading services plus additional features to enhance the experience, such as education and expert advisors. Charges can climb to 0.50% on all intraday trades. Discount brokers usually charge a flat fee or discounted rates for all orders with limited additional assistance.

There’s no use investing all your time and energy into an effective strategy only to waste money on excessive costs, so look for a straightforward price structure with no hidden fees.

Other factors to consider include:

  • Margin – This is effectively a loan that will allow you to capitalise on future price movements. How much will the broker allow you to borrow, and at what rate will you have to pay it back?
  • Minimum deposit – If you’re just starting out you may not have a substantial amount of capital to invest yet. Even some of the best online share trading brokers in India demand a hefty initial deposit. So, some brokers may automatically be out of your financial reach at the moment.
  • Account types – Online brokers in India will offer different account options, ranging from standard to platinum accounts. These will come with varying features, such as extensive technical analysis tools. Consider which account level your strategy requires and whether you can find the same features for a better price elsewhere.

Regulation

Whilst not mandatory, choosing online brokers in India that comply with local laws is advisable.

The Securities and Exchange Board of India (SEBI) monitors and regulates the capital and securities market. This is an established regulator that’s been overseeing online brokers in India since 1992. It is the principal regulator of stock exchanges in the country and all financial intermediaries participating in the securities market.

The main functions of SEBI include; providing trader protection, prohibiting fraudulent and unfair practices, and ensuring operational overview of all participating firms. The SEBI has the authority to ban online brokers in India from offering trading services. As a result, it’s worth checking a provider hasn’t been blacklisted by the SEBI before you open an account.

Tools

Just as important as broker fees is the platform on offer. This will be your door to the trading world and where you’ll spend much of the day. You want a sleek and easy-to-navigate platform. It needs to house all the technical charts and tools you need to effectively trade. Part of that may include market research capabilities to help you screen and identify assets to trade.

Top 10 online day trading brokers in India

Leverage

The SEBI implemented a 75% trade peak margin in 2021, with plans to raise it to 100% in the future. This has been introduced to protect retail investors from volatile financial markets. Any online brokers in India not adhering to this rule may be operating unlawfully, so be careful before opening an account.

Demat Account

The SEBI requires all individuals who want to trade Indian securities to have a dematerialised (demat) account. These accounts are electronic records tracking ownership of tradable assets. Demat accounts can be opened via a central depository such as the National Securities Depository Limited (NSDL) or the Central Depository Services Limited (CDSL). Maintenance and service fees may apply.

Although an additional requirement for trading in India, demat accounts have several advantages:

  • A secure wallet – store securities electronically
  • Instant execution – transactions are processed immediately
  • Access to market information – users gain access to useful market information including live price charts
  • No minimum balance requirements – there are no minimum balance requirements or minimum trading volumes

Paper Trading

A demo account will allow you to conduct a thorough day trading broker test. Funded with simulated money, you can make sure the platform meets your needs. Not to mention it’s a fantastic opportunity to test a strategy before putting capital on the line.

Customer Support

You should check broker reviews before you sign up. If you’re in the middle of a trade with serious capital on the line, and you encounter a technical problem, you don’t want to be left on hold for half an hour. Every second counts, so you need fast and reliable customer support.

You’ll find many online brokers in India now offer 24/7 phone support in numerous languages as well as live chat assistance. Brokers that miss the mark on customer support may also fall short in other areas.

Security

Selecting online brokers in India with transparent business practices and secure trading platforms is important. All stockbrokers in India must be registered with the Securities and Exchange Board of India (SEBI). It’s also worth looking out for data privacy protection, secure desktop and mobile trading applications, plus payment protection.

Extras

Just like a free £75 voucher may convince you to change bank accounts, so could an irresistible broker offer. You can find extras in the forms of free capital for trading, perfect for beginners finding their feet. You could also benefit from free subscriptions to advanced technical tools and charting software.

It’s always worth enquiring to see if you can get some cheeky extras for free. Every little bit helps.

Local Office

Many individuals understandably prefer doing their research in person. Whilst the internet can provide you with a whole host of information, if you want specific questions answered, why not check to see if the broking house has a local office?

You may be able to speak to a company executive or a sales representative. For example, RKSV has offices in both Mumbai and Delhi. Both ICICI Securities and Angel Trade have numerous offices across India.

Final Word; Online Brokers In India

We’ve listed some of the best online brokers in India above. However, consider what it is you want to trade and in what volume. The best day trading futures brokers may be different from the top CFD and mutual funds brokers, for example. Once you know the what, you can then streamline your search to find the who.

FAQ

Yes, if investments are made via online brokers in India that are regulated by the SEBI or other regulatory bodies. Currency trading is only legal when the Indian Rupee (INR) is the base currency.

What Assets Can Be Traded With Online Brokers In India?

The most popular day trading markets include forex, commodities, stocks, futures, cryptocurrencies, and binary options. Some online brokers in India may also offer alternative products, such as ETFs.

How Can I Understand Fees At Online Brokers In India?

Some online brokerages in India offer a fee calculator. This provides a breakdown of fees plus any regulatory charges including STT costs and SEBI fees, plus spreads and commissions.

Do Retail Traders Need To Pay Tax In India?

Yes, trading taxes in India apply. It’s an investor’s responsibility to file these based on their trading activity. Profits and losses can be filed through an annual income tax return.

Who Regulates Online Brokers In India?

The Securities and Exchange Board of India (SEBI) monitors and regulates the capital and securities markets in the country. This is an established regulatory body that provides guidelines for the top online brokers in India. SEBI is responsible for overseeing the activities of stockbrokers and individual investors to ensure that markets operate with integrity and transparency.