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Best CFD 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 21, 2024

Contracts for difference (CFDs) are not authorized trading products in India, so you won’t find CFD brokers regulated by the Securities and Exchange Board of India (SEBI). Indian traders can use overseas CFD trading platforms, but this comes with significant risks, including potentially a lack of legal protection for your funds under Indian laws.

We’ve listed the best CFD brokers accepting traders from India. We’ve personally tested each CFD trading platform, with several catering specifically to Indian traders with INR accounts.

Top 5 CFD Brokers In India

Our findings show these 5 platforms are the best for CFD traders in India:

1. AvaTrade - AvaTrade's 1250+ leveraged CFD products span a wide range of asset classes including stocks, indices, commodities, bonds, crypto, and ETFs. You can speculate on underlying assets in the broker’s feature-rich web and mobile platforms with market-leading research tools to help discover opportunities.
2. XM - Day traders can speculate on leveraged CFDs with zero commissions, spanning popular markets including currencies, equities and commodities. Additionally, the MetaTrader platforms collectively offer dozens of advanced technical indicators built for short-term strategies.
3. Exness - Exness offers a selection of CFDs covering forex, stocks, indices, commodities and cryptos, with leverage up to 1:200. Accounts are geared mainly towards experienced day traders, with over 100 technical indicators available in the broker’s proprietary terminal.
4. Interactive Brokers - Over 8,000 CFDs are offered on a vast array of instruments, encompassing stocks, indices, forex, and commodities. Moreover, the TWS platform lends itself to seasoned day traders, offering a comprehensive selection of over 100 order types and algorithms, alongside premium market data sourced from reputable sources such as Reuters and Dow Jones.
5. Deriv.com - You can trade CFDs on popular markets, including the broker's exclusive synthetic indices which are available 24/7. There are plenty of charting tools available for technical traders, including over 20 indicators in the Deriv Trader platform. New users can also open an account and start trading CFDs instantly.

Best CFD Brokers In India 2024 Comparison

Best CFD Brokers In India 2024 Comparison

Broker	CFD Trading	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
	✔	-	$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
	✔	-	$0	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting	Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral	1:30 (Retail), 1:250 (Pro)	Visit

#1 - AvaTrade

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Review

Why We Chose AvaTrade

AvaTrade's 1250+ leveraged CFD products span a wide range of asset classes including stocks, indices, commodities, bonds, crypto, and ETFs. You can speculate on underlying assets in the broker’s feature-rich web and mobile platforms with market-leading research tools to help discover opportunities.

"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."

- DayTrading Review Team

• FTSE Spread: 0.5
• GBPUSD Spread: 1.5
• Stocks Spread: 0.13
• Leverage: 1:30 (Retail) 1:400 (Pro)
• Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM
• Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade

About 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.

Pros

• Automated trading is supported through MetaTrader Expert Advisors (EAs), as well as the AvaSocial and DupliTrade tools
• AvaTrade is a heavily regulated and trustworthy broker with licenses from the ASIC, CySEC and more
• Day traders can access stable spreads and zero commissions with no hidden fees

Cons

• 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
• A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners

Visit AvaTrade

#2 - XM

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Review

Why We Chose XM

Day traders can speculate on leveraged CFDs with zero commissions, spanning popular markets including currencies, equities and commodities. Additionally, the MetaTrader platforms collectively offer dozens of advanced technical indicators built for short-term strategies.

"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."

- DayTrading Review Team

• FTSE Spread: 1.5 pts
• GBPUSD Spread: 1.9
• Stocks Spread: 0.002
• Leverage: 1:1000
• Regulator: ASIC, CySEC, DFSA, FSC, FSCA
• Platforms: MT4, MT5

About 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.

Pros

• XM is a hugely respected broker authorized by tier-one regulators
• Powerful MT4 and MT5 platforms are available with 60+ and 80+ technical charting tools
• 1000+ instruments are available, including recently added thematic indices, providing exposure to emerging industries

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 offers a selection of CFDs covering forex, stocks, indices, commodities and cryptos, with leverage up to 1:200. Accounts are geared mainly towards experienced day traders, with over 100 technical indicators available in the broker’s proprietary terminal.

"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."

- DayTrading Review Team

• FTSE Spread: 15.1
• GBPUSD Spread: 0.1
• Stocks Spread: 0.7
• Leverage: 1:2000
• Regulator: FSA, CySEC, FCA, FSCA, FSC, CBCS
• Platforms: Exness Trade App, MT4, MT5, TradingCentral

About 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.

Pros

• Exness is the first brokerage to pass the $1 trillion and $2 trillion marks in monthly trading volumes
• Unlike many other brands, Exness doesn't charge any account maintenance or inactivity fees
• There's excellent 24/7 multilingual customer support via telephone, email and live chat

Cons

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

Visit Exness

#4 - Interactive Brokers

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Review

Why We Chose Interactive Brokers

Over 8,000 CFDs are offered on a vast array of instruments, encompassing stocks, indices, forex, and commodities. Moreover, the TWS platform lends itself to seasoned day traders, offering a comprehensive selection of over 100 order types and algorithms, alongside premium market data sourced from reputable sources such as Reuters and Dow Jones.

"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."

- DayTrading Review Team

• FTSE Spread: 0.005% (£1 Min)
• GBPUSD Spread: 0.08-0.20 bps x trade value
• Stocks Spread: 0.003
• Leverage: 1:50
• Regulator: FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB
• Platforms: Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral

About 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.

Pros

• 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.
• IBKR continues to deliver unmatched access to global stocks with tens of thousands of equities available from 100+ market centres in 24 countries.

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.
• 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.
• 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.

Visit Interactive Brokers

#5 - Deriv.com

Visit

Review

Why We Chose Deriv.com

You can trade CFDs on popular markets, including the broker's exclusive synthetic indices which are available 24/7. There are plenty of charting tools available for technical traders, including over 20 indicators in the Deriv Trader platform. New users can also open an account and start trading CFDs instantly.

"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. "

- DayTrading Review Team

• FTSE Spread: 0.5
• GBPUSD Spread: 0.5
• Stocks Spread: 0.07
• Leverage: 1:1000
• Regulator: MFSA, LFSA, VFSC, BFSC
• Platforms: Deriv Trader, MT5

About 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.

Pros

• Traders can use multipliers between 1 and 30, with take profit, stop loss and deal cancellation parameters
• Deriv bolstered its short-term trading opportunities in 2024 with accumulator options on simulated indices featuring up to 5% growth rates
• Deriv continues to offer fast and reliable 24/7 support and the WhatsApp service is particularly convenient

Cons

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

Visit Deriv.com

How We Rate CFD Brokers In India

To list the best CFD brokers for Indian traders we took our database of 500 online brokers, then:

Our broker ratings consider 100+ quantitative data points and qualitative insights gathered by our industry experts during hours of hands-on testing, with a focus on key areas, notably:

Trust

Given that there is no regulatory framework authorizing and overseeing CFD trading platforms in India, it’s even more important for Indians who choose to deal in this risky financial product to choose a trusted overseas firm.

We only recommend CFD brokers we trust after considering several elements:

• Regulatory oversight: If they’re not authorized by India’s SEBI, we investigate whether they hold licenses with other respected regulators, such as the FCA in the UK, ASIC in Australia, or SEC in the US.
• Industry standing: We scrutinize their background, looking for regulatory breaches and complaints from traders, including our own team, that the platform doesn’t provide fair CFD trading conditions or pay out withdrawals.
• Years of experience: We find out how long they’ve been offering CFD trading, as we know brokers with many years in the industry, an active user base, and respected awards, are usually more reliable.

Tradable Assets

The Indian economy is classed as emerging but has a huge presence on the global stage. It is the 5th largest economy in the world by GDP, though Forbes predicts it will be the 3rd largest by 2027.

This scale is driven largely by the country’s population – 1.4 billion, the second largest globally – as most of its economy is domestic consumption.

India’s economy is clearly an exciting place for global investment, so it’s no surprise that Indian traders want to use CFDs to speculate on its financial markets. Yet we’ve explored countless trading platforms and CFDs on Indian assets remain rare, though there are exceptions…

Leverage Requirements

Leverage trading is one of the biggest draws of CFD trading. It allows you to multiply trading results (profits and losses) by putting down a relatively small amount of Indian Rupees, known as ‘margin’.

Let’s say I suspect there is about to be an announcement concerning increasing foreign investment towards Big Tech companies in India, such as Infosys, Wipro and TCS.

As a result, I believe that the value of HSBC S&P India Tech UCITS ETF may rise and my broker offers me 1:5 leverage on a CFD for the asset.

If I have 20,000 INR in my account, this would allow me to take a long CFD position worth 100,000 INR (5 x 20,000).

James Barra

Author

Every one of our recommended CFD platforms offers leverage with clear margin requirements so you know how much money you need to put down and maintain in your account to keep positions open.

However, we’ve observed many CFD platforms offering very high leverage to Indian traders, significantly beyond the 1:30 available in tightly regulated jurisdictions like Europe and Australia. We do not recommend trading CFDs with this high leverage, especially if you’re a beginner – it significantly increases the risk of large losses.

Pricing

Low-cost brokers are key for successful CFD trading, especially those adopting short-term strategies like day trading.

That’s why we’re consistently testing brokers, evaluating spreads, commissions, and any additional fees such as those for transferring Indian Rupees to CFD accounts based in another currency.

However, we also know that price isn’t everything. That’s why we weigh the cost against the quality of the tools provided, as a CFD broker that provides expert insights into events that may affect the Indian economy and its stock exchange, for example, may help investors identify short-term trading opportunities that can be capitalized on with CFDs.

Trading Tools

A CFD trader needs the right tools to successfully execute positions. The world of trading platforms can feel overwhelming as the number of options available and their unique features are time-consuming to compare.

Fortunately, we’ve taken the legwork out of it. Our analysts have spent countless hours testing major platforms and apps, marking them for criteria such as their intuitive design (key for beginners) and the strength of their charting package (key for advanced traders).

CFD brokers that provide research tools that you can tailor to regions, such as India, also stand out, providing insights that could inform short-term trading decisions.

Account Funding

We only recommend CFD trading platforms in India with an affordable minimum deposit of below 250 USD, around 20,000 INR. We also investigate the payment methods available, including the availability of local transfer solutions.

For example, the top payment methods used by Indians are wire transfers and bank cards, according to Statista – available at all our top-rated CFD brokers.

Popular Indian e-wallets, however, such as RuPay and MobiKwik, are not widely available in our experience – brokers tend to prioritize globally recognized payment methods, such as PayPal instead.

FAQ

Which Is The Best CFD Broker In India?

Refer to our list of the best CFD brokers in India to find the right trading platform for you.

However, it’s important to note these brokers are not authorized by an Indian regulator, substantially increasing the risk for Indian traders.

Who Regulates CFD Brokers In India?

There is no regulatory framework in India permitting CFDs – the Securities and Exchange Board of India (SEBI) does not authorize CFD brokers.

There are many international brokers offering CFDs to Indian traders and even providing INR-based accounts and opportunities to speculate on underlying Indian assets. However, Indians may be forgoing any legal protections and should seek professional advice to ensure they are operating within India’s laws.

What Is The Minimum Deposit Needed To Open A CFD Trading Account In India?

Our analysis shows the vast majority of CFD brokers accepting Indian traders require a starting deposit of below $250, or 20,000 INR.

That said, Interactive Brokers stands out as the highest-rated platform with no minimum investment, catering to Indian CFD traders on a budget.

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