Forex Brokers In India

With so many forex brokers in India, finding the best one, or even the top 5, can seem daunting. Due to tight SEBI regulations, you will need to identify legal brokers to compare against criteria based on your needs and goals. This guide explains some of the key factors to understand about forex brokers in India, including how they operate and make money. We have also reviewed and rated the best forex brokers that accept Indian traders in 2023.

Forex Brokers In India

#1 - AvaTrade

AvaTrade offers 50+ currency pairs and their spreads are some of the best among any broker. You can trade majors, minors and exotics around the clock with zero commissions.

"AvaTrade is an excellent broker for traders of all experience levels. Beginners benefit from high-quality education, social trading and a low minimum deposit. 1000+ tradable instruments and powerful proprietary software also make AvaTrade suitable for seasoned traders."

- DayTrading Review Team
  • GBPUSD Spread: 1.5
  • EURUSD Spread: 0.9
  • EURGBP Spread: 1.5
  • Total Assets: 50+
  • Leverage: 1:30 (Retail) 1:400 (Pro)
  • Platforms: MT4, MT5, AlgoTrader, TradingCentral, DupliTrade

CFD Trading

AvaTrade offers leveraged CFD trading on a range of asset classes spanning stocks, indices, commodities, bonds, crypto, and ETFs. Traders can speculate on rising and falling prices with low fees and stable platforms in a highly regulated trading environment.

Stocks Trading

AvaTrade is a top-rated broker with access to leading exchanges including NYSE & FTSE. Take positions on leading tech firms like Tesla, Apple and Microsoft with no restrictions and reliable support.

Crypto Trading

Regulated in five continents, AvaTrade offers a secure way to access crypto markets. They offer a great range of digital currencies, very tight spreads, and 1:2 leverage. [Not available in Canada]

About AvaTrade

Leading forex and CFD broker since 2006, regulated in Ireland, Australia, Canada, Japan, Abu Dhabi, and South Africa. AvaTrade offers multiple trading platforms, including MT4, MT5, Web Trader, Mobile App, Vanilla Options and Social Trading. 1250+ financial instruments, educational content and multi-language customer support active 24/7. 20% welcome bonus available in allowed countries.


  • Excellent customer support
  • Expert Advisors (EAs) supported
  • AvaSocial app for copy trading


  • Inactivity fee after three months
  • Some withdrawal methods are slow

#2 - Moneta Markets

Moneta Markets offers more than 45 forex pairs with higher leverage than most brokers, up to 1:1000. Spreads are also tight while the trading platforms offer advanced market analysis tools.

"Moneta Markets is a great pick for users looking to trade a wide range of markets with 1000+ instruments and high leverage up to 1:1000. Access to the powerful MT4 and MT5 platforms will also appeal to seasoned traders."

- DayTrading Review Team
  • GBPUSD Spread: Floating
  • EURUSD Spread: Floating
  • EURGBP Spread: Floating
  • Total Assets: 45+
  • Leverage: 1:500
  • Platforms: MT4, MT5, TradingView, TradingCentral

CFD Trading

Moneta Markets clients can speculate on the direction of hundreds of assets covering forex, stocks, indices, commodities, bonds, cryptos and ETFs. Fees are transparent and there are no hidden charges.

Stocks Trading

Trade 700+ UK, US, AU, HK and European share CFDs. Spreads start at 0.1 on popular stocks like Google with a 5% margin requirement. New users can start trading stocks in 3 easy steps.

Crypto Trading

Trade dozens of popular cryptos against the USD with 1:5 leverage. Digital currencies can be traded as CFDs only - they cannot be directly bought and sold.

About Moneta Markets

Moneta Markets is a regulated multi-asset broker offering an excellent suite of instruments spanning forex, stocks, indices, commodities, bonds, ETFs and crypto. There are no deposit fees and the minimum deposit is accessible at $50. The account opening process is also straightforward, taking just a few minutes to sign up and start trading. More than 70,000 traders have signed up with the ASIC, FSCA and FSA-regulated brokerage.


  • ECN and STP trading accounts with competitive pricing
  • Award-winning customer support available 24/7
  • Legitimate broker regulated by the ASIC, FSCA and FSA


  • Offshore regulation weakens legal safeguards for some traders
  • Withdrawal fees may apply
  • You have to deposit $500 to access some educational materials

#3 - Skilling

Skilling offers Standard and Premium accounts with competitive leverage and spreads across a wide range of major, minor and exotic forex pairs. Over 70 currencies are available, providing more trading opportunities than most competitors.

"Skilling is a top pick for beginners looking for user-friendly platforms, copy trading features and educational resources to learn as you invest."

- DayTrading Review Team
  • GBPUSD Spread: 0.1
  • EURUSD Spread: 0.1
  • EURGBP Spread: 0.1
  • Total Assets: 70+
  • Leverage: 1:30 (EU), 1:200 (Pro), 1:500 (Global)
  • Platforms: MT4, cTrader, TradingView, AutoChartist

CFD Trading

Take positions on hundreds of CFDs covering stocks, indices, forex and commodities. Get competitive pricing and ultra-fast execution while leverage can boost your purchasing power and potential returns.

Stocks Trading

Hundreds of stock CFDs are available including some of the most popular companies like Apple and Tesla. The slick proprietary platform also makes it easy for beginners to get started while the range of shares beats most rivals.

Crypto Trading

Trade 50+ crypto pairs via leveraged CFDs. The list of tokens is longer than many rivals and the broker offers a secure trading environment. Cryptocurrency trading is not available to traders in China.

About Skilling

Skilling is a multi-asset broker founded in 2016 and based in Cyprus. The brand offers hundreds of instruments with competitive spreads from 0.1 pips and beginner-friendly platforms. Skilling are also regulated in Europe and beyond with a transparent pricing structure. Sign up and start trading in three easy steps.


  • Trusted and licensed by the CySEC and FSA
  • Multiple account currencies and low deposit
  • MT4 platform integration


  • Fairly new brand
  • Limited market research

#4 - Vantage

Trade 40+ forex pairs with some of the tightest spreads, including majors and minors. Vantage's deep liquidity pool provides spreads from 0.0 pips. There are also no commissions, deposit fees or hidden charges.

"Vantage is a great option for CFD traders seeking a regulated broker with high leverage and access to the powerful MetaTrader platforms."

- DayTrading Review Team
  • GBPUSD Spread: 0.5
  • EURUSD Spread: 0.0
  • EURGBP Spread: 0.5
  • Total Assets: 40+
  • Leverage: 1:500
  • Platforms: MT4, MT5, TradingView, DupliTrade

CFD Trading

Traders can speculate on a breadth of financial markets with high leverage up to 1:500. Bet on rising and falling prices in currencies, commodities, indices, shares, and more without owning the underlying asset.

Stocks Trading

Speculate on leading companies in the US, EU, UK and Australia including large brands like Tesla and Apple. Short, medium and long-term trading strategies are catered for, including the use of Expert Advisors (EAs).

Crypto Trading

Trade cryptos including Bitcoin 24/7 with up to 1:200 leverage and zero overnight fees. Various risk management tools are also available, including price alerts and stop losses.

About Vantage

Reliable and affordable trading since 2009. Join over 900,000 others trading on 1000+ CFD products. Trade Forex CFDs from 0.0 spreads on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC regulated and client funds are segregated. Crypto supporters will also rate the BTC/ETH account with no deposit fees. Open an account in less than 2 minutes.


  • Trading bonuses and promotions
  • Hedging and scalping strategies permitted
  • Unlimited demo account with full access to markets and robot backtesting functionality


  • Some clients will need to trade with the offshore entity
  • Cryptos only available for Australian clients
  • A $10,000 deposit is needed for the best account conditions

#5 - IC Markets

Trade currencies with 0.0 pip spreads at one of the world's leading forex brokers. IC Markets is a great choice for serious traders with superior execution and low fees.

"IC Markets offers a top-class environment for traders of all experience levels and strategies. Industry-leading platforms, superior pricing and flexible accounts will meet the needs of both beginners and active day traders."

- DayTrading Review Team
  • GBPUSD Spread: 0.5
  • EURUSD Spread: 0.1
  • EURGBP Spread: 0.5
  • Total Assets: 55+
  • Leverage: 1:1000
  • Platforms: MT4, MT5, cTrader, DupliTrade

CFD Trading

Trade CFDs 24/5 on popular markets including forex, commodities, indices, stocks and bonds. IC Markets offers deep liquidity, raw spreads and high leverage.

Crypto Trading

IC Markets offer a diverse range of cryptos, with super small spreads. They also offer many cryptocurrencies not available elsewhere, without the need of a virtual wallet.

About IC Markets

IC Markets is a respected multi-asset broker offering premium trading technology, highly competitive pricing and 24/7 customer support. The broker provides various social trading features for beginners whilst experienced traders can enjoy advanced charting and analysis tools. Over 180,000 clients from more than 200 countries have signed up with the heavily regulated and trustworthy brand.


  • 15+ payment methods in 10 base currencies including PayPal and Skrill
  • Fast order execution speed of under 40ms
  • Premium educational resources and trading tools including podcasts, forex calculators and tick charts


  • Two-factor authentication not available for extra account security
  • Traders from the US not accepted
  • No bonus deals for new traders

#6 - is a leading FX broker. The brand offers a wide range of currency pairs and some of the lowest fees in the industry. Spreads on the EUR/USD come in as low as 0.0 with a $7 commission per $100k.

" is an excellent broker for forex traders with over 80 currency pairs, tight spreads, low commissions and powerful platforms. The brand is also heavily regulated while its parent company is listed on the NASDAQ, giving it a high trust score."

- DayTrading Review Team
  • GBPUSD Spread: 1.0
  • EURUSD Spread: 1.0
  • EURGBP Spread: 1.0
  • Total Assets: 80+
  • Leverage: 1:200 (Retail), 1:500 (Pro)
  • Platforms: MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral

CFD Trading

Go long and short on a range of popular financial markets with intuitive platforms and reliable execution. 99.76% of trades are executed in less than a second with an average speed of 0.02 seconds.

Stocks Trading offers access to thousands of US, EU and UK stocks, with spreads of just 1 point. Speculate on household names as well as new IPOs. US stocks are available from just 1.8 cents per share.

Crypto Trading

Trade major cryptos against USD, EUR, GBP and AUD. All traded with tight spreads. No virtual wallet is required, just a trading account. Cryptos are not available in the US, UK or Canada.

About boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they provide a huge range of markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.


  • Up to 15% cashback rebates for active traders
  • Top-rated forex and CFD broker
  • Fast execution speed of less than 1 second


  • Investment offering varies between countries
  • $15 monthly inactivity fee
  • No copy trading platform

#7 - Pepperstone

Pepperstone offers ultra-low spreads from 0.0 pips on the Razor account and has an excellent selection of 60+ pairs. The broker boasts an impressive 99.94% fill rate with no requotes or dealing desk intervention. Forex lots start at 0.01.

"Pepperstone is a best-in-class broker. Experienced traders benefit from razor sharp spreads with sophisticated automation tools and over 1000 instruments. Newer traders get user-friendly platforms, rich education materials and 24/7 support."

- DayTrading Review Team
  • GBPUSD Spread: 1.0
  • EURUSD Spread: 1.0
  • EURGBP Spread: 1.2
  • Total Assets: 60+
  • Leverage: 1:30 (Retail), 1:500 (Pro)
  • Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade

CFD Trading

Pepperstone is a fast and reliable CFD broker with 1200+ assets covering forex, commodities, shares, indices, and ETFs. You can also trade currency indices, which aren't available at many alternatives. CFDs can be traded on four leading platforms with a choice of accounts and base currencies. Expert Advisors (EAs) are also supported for automated trading strategies.

Stocks Trading

Pepperstone offers hundreds of shares covering US, UK, Australian and German stock markets. Traders can go long or short on big names like Tesla with deep liquidity and competitive commissions.

Crypto Trading

Take positions on cryptos like Bitcoin with up to 1:10 leverage. Pepperstone also offers popular altcoins, as well as crypto indices, which offer a holistic view on the digital currency market.

About Pepperstone

Pepperstone is a leading online broker with over 400,000 clients in more than 175 countries. The top-rated firm offers excellent market access, industry-leading platforms in MT4, MT5, TradingView and cTrader, plus low fees with no hidden charges. Pepperstone is also heavily regulated with a high trust score, holding licenses with reputable bodies, including the FCA, ASIC, DFSA, and CySEC.


  • Award-winning customer support via telephone, email or live chat
  • In-depth and frequent webinars covering charting strategies and trading tips
  • Active Trader Program for high-volume traders with discounts on forex, indices and commodities (eligible jurisdictions only)


  • Traders from the US not accepted
  • Limited payment methods for UK clients
  • Cryptos only available for professional clients in some jurisdictions

#8 - XM

XM offers ultra low spreads across a range of forex markets with no re-quotes or hidden charges. Forex can be traded 24/5 on desktop, web and mobile. Over 50 currency pairs are available including all majors.

"XM will suit traders looking for a trustworthy broker with low fees, access to the reliable MetaTrader platforms, plus excellent market research and education."

- DayTrading Review Team
  • GBPUSD Spread: 1.9
  • EURUSD Spread: 1.6
  • EURGBP Spread: 1.8
  • Total Assets: 55+
  • Leverage: 1:1000
  • Platforms: MT4, MT5

CFD Trading

Speculate on rising and falling prices with leveraged CFDs spanning popular financial markets. Users get low spreads and high-quality market insights to support CFD trading.

Stocks Trading

Trade hundreds of shares in major markets, including the US, UK, Europe and Asia. Traders can go long or short on stocks with commissions as low as $1 per transaction.

Crypto Trading

XM offers crypto trading through CFDs. This means you can speculate on rising and falling prices with leverage. XM offers a good range of cryptocurrencies, including major tokens like Bitcoin.

About XM

XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted FSC-regulated broker has been well-known for its low spreads and competitive fees on 1000+ instruments. XM offers both the MT4 and MT5 platforms.


  • Beginner-friendly education tools including podcasts and expert-led webinars in 16 languages
  • Accessible trading accounts with a $5 minimum deposit and easy account opening
  • Reliable 24/7 customer support in over 30 languages


  • $5 inactivity fee
  • Traders from the US not accepted

#9 - PrimeXBT

Go long or short on 50 forex pairs including the EUR/USD and GBP/USD with zero commissions. There are plenty of opportunities to buy and sell currencies via margin or copy trading.

"PrimeXBT is great for investors looking to buy and trade derivatives on a wide range of cryptocurrencies. The brand is also a good pick for newer investors looking for copy trading."

- DayTrading Review Team
  • GBPUSD Spread: Variable
  • EURUSD Spread: Variable
  • EURGBP Spread: Variable
  • Total Assets: 45+
  • Leverage: 1:1000
  • Platforms: Own

CFD Trading

Trade CFDs across four asset classes with leverage up to 1:1000. Beginners can also take advantage of the broker's useful technical analysis guides and CFD education, plus 24/7 in-platform support via live chat.

Stocks Trading

Trade major indices, including the Nasdaq, S&P and Nikkei. PrimeXBT offers a powerful platform for technical and fundamental analysis while commissions are amongst the lowest around.

Crypto Trading

Trade popular cryptos with commissions as low as 0.05% and high leverage up to 1:200. Another bonus is that you can join 10,000+ traders in crypto trading contests with real prizes.

About PrimeXBT

PrimeXBT is a multi-asset platform offering highly leveraged trading in forex, indices, commodities and cryptocurrencies. The company launched in 2018 and now has over 1 million users from more than 150 countries. With no minimum deposit, copy trading features and low commissions, the broker has become popular among new and experienced traders.


  • Easy-to-use copy trading tool
  • Demo trading competitions with cash prizes
  • High trust score with a secure track record and no client funds stolen


  • No regulatory oversight
  • BTC withdrawal fee
  • No MetaTrader 4 integration

#10 - Webull

Webull offers a modest collection of 17 currencies, including majors like EUR/USD. Forex can be traded on the feature-rich investing app with real-time quotes and low spreads.

"Webull is best for traders looking to buy and sell stocks on a user-friendly app with zero commissions."

- DayTrading Review Team
  • GBPUSD Spread: 0.4
  • EURUSD Spread: 0.2
  • EURGBP Spread: 0.4
  • Total Assets: 15+
  • Leverage: 1:4
  • Platforms: Own

Stocks Trading

Webull offers a fantastic list of 2000+ US stocks, fractional shares, options, ETFs, OTC, and ADRs. There is no commission on stocks, ETFs, and options. Full extended trading hours is available while custom screeners and watchlists aid the decision making process.

Crypto Trading

Webull offers trading on popular cryptos like Bitcoin against the US Dollar. With 35+ tokens and premium analysis tools, traders can review market trends and identify opportunities in a few taps.

About Webull

Webull is a US-regulated trading app that offers stocks, options, forex, cryptos, ETFs, fractional shares and more. The firm is authorized by the SEC and FINRA with a strong trust rating. Low fees, no minimum investment and generous bonuses have made the discount broker popular with online investors.


  • Promotions with free stocks
  • Smart Advisor for auto investing
  • Respected brand with strong regulatory oversight


  • Day trading is limited for customers with less than $25,000 deposited
  • High deposit and withdrawal wire fees for non-US residents
  • Sometimes sudden changes in trading conditions

What Is An Indian Forex Broker?

Forex brokers in India are companies that allow investors to buy and sell foreign currencies. For example, if you have Indian Rupees (INR) and would like to purchase American Dollars (USD), you will need to find a broker that allows you to trade the USD/INR pair.

Through forex brokers based in India, you can typically only trade a limited list of INR-based currency pairs spanning USD, EUR, GBP and JPY.

Some international forex brokers that operate in India may offer other currencies, but these may not be SEBI-approved. Using a broker that is not authorized by the SEBI or exchanging non-regulated currencies could lead to legal ramifications. With that in mind, only use trusted overseas FX brokers that accept Indian traders.

SEBI Oversight

In India, forex brokers are highly regulated and legal if they are licensed by the Securities Exchange Board of India (SEBI). SEBI-regulated FX brokers essentially allow local residents to buy and sell currencies securely while the financial watchdog actively deters individuals from investing in foreign currencies.

Indian forex brokers regulated by the SEBI have to meet various requirements. This includes restrictions on margin trading, rules on exotic currency pairs, and a requirement to undergo regular audits and meet Anti-Money Laundering (AML) legislation.

Investing in foreign currencies is frowned upon for Indian residents. Equally, signing up with an international forex broker that accepts Indian traders and depositing money from your local bank account to an overseas account is not viewed upon favorably. Indian citizens often need permission from the relevant government authority. Speak to a local professional for guidance.

How Do Forex Brokers In India Make Money?

Online forex brokers primarily make their money through two methods: commissions or spreads.


Electronic communications network (ECN) forex brokers in India allow you to speculate against other investors. These brokers tend to charge a commission for each transaction and can thus keep spreads very tight. With this fee model, you have more certainty about the costs of a particular trade.

An example commission calculation is given below:


Forex brokers in India with different business models and brokerage structures may not charge a fixed cost per exchange. Instead, they may incorporate their charges into the bid-ask spread of the pair, which is the difference between the buy and sell price of the instrument.

Spreads are dependent on the liquidity and volatility of the market, with a tight spread indicating low volatility and high liquidity. This would be a desirable time to place an order as the exchange cost would be lower.

A spread calculation could go as follows:

How To Compare Forex Brokers In India

If you are trying to choose a forex broker in India, there are several factors you should take into account:

Range Of FX Pairs

The SEBI only allows seven currency pairs to be offered by local brokers, INR/USD, INR/EUR, INR/GBP, INR/JPY and cross-currency pairs EUR/USD, GBP/USD and USD/JPY.

The best forex brokers in India will allow easy access to all of these pairs with tight spreads and low or zero commissions.

Some overseas forex brokers may offer other pairs, but sticking with SEBI-approved brokers will provide legal protections.


Forex brokers in India offer different spreads, commissions and non-investing fees. Zerodha for example offers a flat Rs. 20 fee or 0.03% of the trade value (whichever is lower) on intraday trades across currencies, equities, and commodities.

A useful cost calculator is also available on the broker’s website with additional transaction costs, such as SEBI charges, NSE/BSE transaction fees and stamp duty charges.

Also look out for brokers that offer INR as an account base currency so you are not liable for any currency conversion charges.

Regulatory Status

As outlined above, the Securities Exchange Board of India has strict regulatory rules making it challenging to buy and sell through non-authorized methods. To spot fake forex brokers in India, check the footer of a firm’s website. A genuine broker will clearly have an Indian forex broker license number.

Zerodha for example provides SEBI registration details at the bottom of each webpage. Simply search this number on the SEBI-registered entities list for confirmation.

You can also search for a broker’s name in the complete list of legal forex brokers on the SEBI website. Another good indicator of trustworthiness is an office in India.


SEBI leverage rules introduced in May 2022 state that clients may only use 50% of their margin against securities, whilst the other 50% margin must be held with the forex broker. This is a reduction on the previous rules in place regarding trading forex with leverage.

Additionally, the Securities Exchange Board of India has placed restrictions on the use of intraday profits on further investing activities in the same day. The profits made by retail investors may only be used a minimum of two days after.

Deposits & Withdrawals

The best forex brokers in India offer several different local payment options, including RuPay credit/debit cards, bank wire transfers and online wallets such as Paytm.

Upstox for example offers a range of deposit methods; NetBanking, UPI transfer, Google Pay, NEFT/RTGS/IMPS, and cheque. Note, electronic transfers often provide the fastest processing times.

Withdrawal times and associated fees should also be compared when choosing between forex brokers in India.

Minimum Deposit

Some forex brokers in India will have a minimum amount that you must deposit in your account, although some recognized brands such as Upstox and Zerodha, do not have a minimum requirement. This makes them good choices for beginners.

Although the best option for beginners is likely to be an account with an accessible deposit requirement, ensure you still benefit from all the tools and analysis features required to execute your forex strategy. For example, the top forex brokers that accept Indian traders may offer useful insights into announcements from the Central Bank of India (CBI).


Forex brokers in India often provide referral schemes rather than welcome bonuses or other financial incentives for new or existing customers.

Dhan for example offers lifetime referral rewards, accrued daily, for those investors that refer and meet eligibility requirements. You can earn up to 20% of a referral’s profits.


Forex brokers in India will offer different account types so you can choose a solution that best suits your strategy. You may find brokers that offer a commission-based account and a spread-based account, whereas other Indian forex brokers will offer you professional accounts with more benefits but higher minimum deposits.

If you are a beginner or are looking to test new strategies, it is a good idea to find a forex broker with a demo account. This type of account is loaded with virtual funds and operates in the same way as a live account, so you can try out a broker or INR/USD strategy without taking on any risk.

Platforms & Mobile Apps

The platform offered by a brokerage is a key consideration. Forex brokers in India may offer a range of web-based or desktop-based platforms.

Well-known solutions include MetaTrader 4 (MT4) and cTrader, although some Indian forex brokers may offer proprietary platforms. Dhan for example offers day traders access to their web platform complete with TradingView charts, advanced Option Chain and an instant pledge margin benefit available on over 1400 assets.

Other things to look out for when comparing platforms include technical indicators, analysis tools, and forex heat maps.

The best forex brokers in India will also offer a mobile app that allows for full account management, market analysis and easy order execution. Zerodha’s proprietary platform Kite, is available as an iOS and Android app, offering a simple yet intuitive user experience for all your forex investment needs.

Customer Support

The best forex brokers in India will offer comprehensive, round-the-clock customer support in a variety of languages, including Hindi.

24/7 online chat or telephone lines are a great way to get help quickly whenever you need it. The top forex brokers that accept India also offer support via social media channels.

Forex Taxes In India

When buying and selling forex with a broker in India, make sure you are aware of how you will be taxed and how you need to report your income. If your forex investments are not your main source of income, your profits will likely be taxed as capital gains. Any income under the basic exemption limit will not be taxed.

If you are using forex brokers in India as a business, you will have to pay business income tax. You will be able to offset your taxable profits with your losses and, if you are in the lower earning brackets, the tax will be relatively small.

Speak to a local tax advisor to understand how to work with authorised forex brokers in India and how to report taxes.

Final Word On Forex Brokers In India

If you are looking to trade currencies online, consider a SEBI-regulated forex broker to guarantee legitimacy and to benefit from client safeguards. Alternatively, use a trusted and accepted overseas provider. While the number of currencies available to Indian forex traders is small, profits can be maximized through the use of leverage and market insights.

Use our comparison guide to find the best forex broker in India that suits your investing strategy. Alternatively, our experts have compiled a list of the top 10+ forex brokers that accept Indian traders.


Yes, trading is legal with forex brokers in India that are regulated by the Securities Exchange Board of India (SEBI). Using a non-regulated broker can lead to fines. Check our list of forex brokers in India for the best and safest platforms.

What Pairs Can I Trade With Forex Brokers In India?

When you use a forex broker in India you can exchange pairs based on the Indian Rupee, like INR/USD, and some cross-currency pairs, such as the USD/EUR. Buying or selling non-authorized currencies is prohibited in India.

What Are The Best Forex Brokers In India?

The best forex broker in India is a subjective concept, as everyone’s needs differ. You can compare forex brokers in India by their account types, spreads and commission, leverage, bonuses, withdrawal options, customer service and regulatory oversight from an agency like the SEBI.

How Do I Find SEBI-Regulated Forex Brokers In India?

Finding a SEBI-regulated forex broker is straightforward. A registered broker will have their SEBI license number at the bottom of their website. You can also search for a broker’s name or license number in the SEBI financial register.

What Fees Do I Need To Pay To Use Forex Brokers In India?

The fees you pay to a forex broker in India will depend on the brokerage. FX providers will often charge either a fixed commission per trade and/or a spread. Some forex accounts will also have withdrawal fees, overnight fees and inactivity penalties.

Further Reading