Best Day Trading Platforms and Brokers in India 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 10 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 10 best day trading platforms in India:
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1
AvaTrade20% Welcome Bonus up to $10,000
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:30 (Retail) 1:400 (Pro)ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGMCFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, FuturesWebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTradeSkrill, Wire Transfer, FasaPay, Mastercard, Perfect Money, Swift, MoneyGram, Credit Card, WebMoney, JCB Card, Debit Card, Neteller, BoletoUSD, EUR, GBP, CAD, AUD -
2
Exness
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$100.01 Lots1:2000FSA, CySEC, FCA, FSCA, FSC, CBCS, CNMVCFDs, Forex, Stocks, Indices, Commodities, CryptoExness Trade App, MT4, MT5, TradingCentralWire Transfer, Credit Card, Visa, Mastercard, Bitcoin Payments, BoletoUSD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, DKK, CHF, HKD, SGD, AED, SAR, HUF, BRL, NGN, THB, VND, UAH, KWD, QAR -
3
XM$30 No Deposit Bonus When You Register A Real Account
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$50.01 Lots1:1000ASIC, CySEC, DFSA, FSC, FSCA, CNMV, AMFForex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, FuturesMT4, MT5Credit Card, Debit Card, Skrill, Neteller, Wire Transfer, Perfect Money, Apple Pay, Google Wallet, TransferWise, Visa, M-PesaUSD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF -
4
DNA Markets
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:500ASICCFDs, Forex, Indices, Commodities, Stocks, CryptoMT4, MT5Credit Card, Debit Card, Wire Transfer, BPAY, Skrill, Neteller, Bitcoin Payments, Bitwallet, AstroPay, MastercardUSD, EUR, GBP, CAD, AUD, NZD, SGD -
5
Deriv.com
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$50.01 Lots1:1000MFSA, LFSA, VFSC, BFSCCFDs, Multipliers, Forex, Stocks, Indices, CommoditiesDeriv Trader, MT5Neteller, Visa, Skrill, WebMoney, FasaPay, Perfect Money, Diners Club, Banxa, Paytrust, Wire Transfer, Mastercard, Credit Card, JCB Card, Sticpay, Trustly, Volet, Paysafecard, AstroPay, Maestro, Airtm, Boleto, JetonCashUSD, EUR, GBP, AUD -
6
FXTM30% up to $100 via Exinity Ltd
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$2000.01 Lots1:2000CySEC, FCA, FSCA, FSC, CNMVForex, CFDs, Indices, Commodities, StocksFXTM App, MT4, MT5Neteller, Skrill, Visa, WebMoney, Perfect Money, Western Union, Credit Card, Google Wallet, PayRedeem, Maestro, GlobePayUSD, EUR, GBP -
7
Expert Option100% deposit bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$10$1N/ASVGFSAOptions, Stocks, Commodities, Forex, Crypto, Futures,Expert Option Web PlatformVisa, Skrill, Neteller, FasaPay, Mastercard, UnionPay, WebMoney, Wire Transfer, Perfect Money, Bitcoin Payments, Maestro, M-Pesa, FlutterwaveUSD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, AED -
8
IC Markets
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$2000.01 Lots1:1000ASIC, CySEC, FSA, CMACFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, CryptoMT4, MT5, cTrader, TradingView, TradingCentral, DupliTradePayPal, Skrill, Neteller, Visa, UnionPay, Wire Transfer, Rapid Transfer, Mastercard, POLi, BPAY, Credit Card, Klarna, Swift, SafeChargeUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD -
9
PepperstoneCFDs 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.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:30 (Retail), 1:500 (Pro)FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCBCFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread BettingMT4, MT5, cTrader, TradingView, AutoChartist, DupliTradeVisa, Mastercard, Credit Card, Debit Card, PayPal, Wire Transfer, POLi, UnionPay, BPAY, Neteller, SkrillUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD -
10
RoboForex$30 No Deposit BonusRoboForex Ltd and its affiliates do not target EU/EEA/UK clients. Please be aware that you are able to receive investment services from a third-country firm at your own exclusive initiative only, taking all the risks involved.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$100.01 Lots1:2000IFSCCFDs, Forex, Stocks, Indices, Commodities, ETFs, FuturesR StocksTrader, MT4, MT5, TradingViewVisa, iDeal, Trustly, Neteller, Skrill, Giropay, Sofort, Wire Transfer, Rapid Transfer, Alipay, POLi, Perfect Money, MoneyGram, Cashu, SafeCharge, WeChat Pay, Vietcombank Transfer, Volet, ecoPayz, AstroPayUSD, EUR
Here is a short overview of each broker's pros and cons
- 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, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.
- Exness - Exness is a Cyprus-based forex and CFD brokerage established in 2008. With over 800,000 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.
- 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.
- DNA Markets - DNA Markets is a forex and CFD broker established in 2020. The broker operates two entities in Australia and the offshore jurisdiction, St Vincent and the Grenadines. Traders can access 800+ markets, with a Standard account for beginners and a Raw account for experienced traders. The reliable MetaTrader 4 and MetaTrader 5 platforms are available, alongside Signal Start.
- 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.
- FXTM - FXTM is a top-rated forex and CFD broker established in 2011 and operating across 4 continents. The company is secure and regulated by leading authorities, including the FCA and CySEC. Offering 1000+ day trading markets and three 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.
- Expert Option - Expert Option is an offshore broker that offers a simple and intuitive trading experience through a bespoke, user-friendly platform. Short-term traders can access 100 popular assets via binary options contracts with payouts up to 95%, free educational resources, and market data available to upper-tier account holders.
- IC Markets - IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
- Pepperstone - Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.
- RoboForex - RoboForex is an online broker, established in 2009 and registered with the IFSC in Belize. Traders can choose from five accounts (Prime, ECN, R StocksTrader, ProCent, Pro) catering to different needs with trades from 0.01 lots and spreads from 0 pips. RoboForex has also enhanced its offering over the years, adding CFD instruments and launching its stock trading platform, plus the CopyFX system.
Best Day Trading Platforms and Brokers in India 2024 Comparison
| Broker | INR Account | Minimum Deposit | Markets | Platforms | Leverage |
|---|---|---|---|---|---|
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- | $100 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures | WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade | 1:30 (Retail) 1:400 (Pro) |
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✔ | $10 | CFDs, Forex, Stocks, Indices, Commodities, Crypto | Exness Trade App, MT4, MT5, TradingCentral | 1:2000 |
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- | $5 | Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures | MT4, MT5 | 1:1000 |
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- | $100 | CFDs, Forex, Indices, Commodities, Stocks, Crypto | MT4, MT5 | 1:500 |
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- | $5 | CFDs, Multipliers, Forex, Stocks, Indices, Commodities | Deriv Trader, MT5 | 1:1000 |
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- | $200 | Forex, CFDs, Indices, Commodities, Stocks | FXTM App, MT4, MT5 | 1:2000 |
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✔ | $10 | Options, Stocks, Commodities, Forex, Crypto, Futures, | Expert Option Web Platform | N/A |
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- | $200 | CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto | MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade | 1:1000 |
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- | $0 | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade | 1:30 (Retail), 1:500 (Pro) |
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- | $10 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures | R StocksTrader, MT4, MT5, TradingView | 1:2000 |
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."
AvaTrade Quick Facts
| Bonus Offer | 20% Welcome Bonus up to $10,000 |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures |
| Regulator | ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM |
| Platforms | WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail) 1:400 (Pro) |
| Account Currencies | USD, EUR, GBP, CAD, AUD |
Pros
- There's a great range of fee-free deposit methods, including bank wire, credit cards and popular e-wallets like Skrill
- The broker’s unique risk management tool, AvaProtect, protects against losses up to $1 million and is easy to activate in the platform
- Recently introduced AvaFutures offers an alternative vehicle to speculate on over 35 markets with low day trading margins
Cons
- There is no ECN account with raw spreads
- 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
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."
Tobias Robinson, Reviewer
Exness Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, Crypto |
| Regulator | FSA, CySEC, FCA, FSCA, FSC, CBCS, CNMV |
| Platforms | Exness Trade App, MT4, MT5, TradingCentral |
| Minimum Deposit | $10 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:2000 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, DKK, CHF, HKD, SGD, AED, SAR, HUF, BRL, NGN, THB, VND, UAH, KWD, QAR |
Pros
- Unlike many other brands, Exness doesn't charge any account maintenance or inactivity fees
- The broker offers fast execution speeds for short-term traders, averaging under 25ms
- There's a strong range of account types for all experience levels and requirements, including Cent, Pro and Raw spread solutions
Cons
- 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
- There are no promotional deals or loyalty schemes for high-volume day traders
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."
William Berg, Reviewer
XM Quick Facts
| Bonus Offer | $30 No Deposit Bonus When You Register A Real Account |
|---|---|
| Demo Account | Yes |
| Instruments | Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures |
| Regulator | ASIC, CySEC, DFSA, FSC, FSCA, CNMV, AMF |
| Platforms | MT4, MT5 |
| Minimum Deposit | $5 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:1000 |
| Account Currencies | USD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF |
Pros
- 1000+ instruments are available, including recently added thematic indices, providing exposure to emerging industries
- Accessible trading accounts with a $5 minimum deposit and fast account opening
- XM is a hugely respected broker authorized by tier-one regulators
Cons
- There is weak regulatory oversight through the global entity
- PayPal deposits are not supported
- There's $5 inactivity fee after only 3 months, though this won't affect active traders
DNA Markets
"DNA Markets is an excellent choice for short-term traders familiar with the MetaTrader platforms. The smooth sign-up process also makes it easy to get started while the $100 minimum deposit is accessible. That said, DNA Markets trails the top brokers in education, research and mobile trading. "
DNA Markets Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Indices, Commodities, Stocks, Crypto |
| Regulator | ASIC |
| Platforms | MT4, MT5 |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:500 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, SGD |
Pros
- Short-term trading strategies are permitted including scalping and automated trading using Expert Advisors (EAs)
- DNA Markets offers top-rate platforms and charting tools for day traders with access to MT4 and MT5
- You can access low trading fees with spreads from 0.0 pips in the Raw account and zero non-trading fees
Cons
- Although it continues to strengthen its client base and reputation, DNA Markets lacks the track record of top brokers like Vantage
- Despite access to MT4 and MT5, there is no proprietary trading app for seamless account management whilst on the go
- Unlike many alternatives, there are limited educational and research tools for traders seeking an all-in-one solution
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. "
Deriv.com Quick Facts
| Demo Account | Yes |
|---|---|
| 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 |
| Account Currencies | USD, EUR, GBP, AUD |
Pros
- Traders can use multipliers between 1 and 30, with take profit, stop loss and deal cancellation parameters
- There's a good range of fast deposit and withdrawal methods with zero payment fees and low minimum deposits
- The free demo account is ideal for practicing short-term trading strategies and no registration is required
Cons
- There are limited copy trading tools and analysis features compared to alternatives like IQ Cent
- 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+
FXTM
"FXTM is a good pick for day traders seeking low forex commissions on the MetaTrader 4 platform. That said, the range of other assets is not extensive for those looking to diversify, especially stocks and cryptocurrencies."
FXTM Quick Facts
| Bonus Offer | 30% up to $100 via Exinity Ltd |
|---|---|
| Demo Account | Yes |
| Instruments | Forex, CFDs, Indices, Commodities, Stocks |
| Regulator | CySEC, FCA, FSCA, FSC, CNMV |
| Platforms | FXTM App, MT4, MT5 |
| Minimum Deposit | $200 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:2000 |
| Account Currencies | USD, EUR, GBP |
Pros
- Negative Balance Protection is available to clients registering with the EU and UK entities
- Customer support is reliable and available in 30+ languages, making FXTM a top choice among global traders
- The broker delivers an excellent charting environment for day traders, with over 30 technical tools offered in the MT4 platform, plus a range of additional platform indicators for monitoring spreads, orders, pivot levels and more
Cons
- Withdrawal fees apply, including a 30 EUR fee on bank wire withdrawals
- It’s a shame that ETFs and bond products are not available, and the selection of stocks is not extensive compared to competitors like AvaTrade
- Spreads are mediocre in the commission-free accounts, with typical EUR/USD spreads around 1.9 pips - the industry average is around 1.2 pips
Expert Option
"Expert Option will suit aspiring traders who want to access the financial markets through an options broker with a very easy-to-learn bespoke platform. The user-friendly day trading platform is clear and reliable."
Expert Option Quick Facts
| Bonus Offer | 100% deposit bonus |
|---|---|
| Demo Account | Yes |
| Instruments | Options, Stocks, Commodities, Forex, Crypto, Futures, |
| Regulator | SVGFSA |
| Platforms | Expert Option Web Platform |
| Minimum Deposit | $10 |
| Minimum Trade | $1 |
| Leverage | N/A |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, AED |
Pros
- There are no deposit and withdrawal fees which is ideal for active traders
- Minimum deposits are low, starting from $10
- There's a decent range of educational resources, including trading strategies, webinars and platform tutorials
Cons
- The broker doesn't offer any popular leveraged products such as CFDs
- The SVGFSA is a weak financial regulator with limited safeguarding measures
- There's a very small list of binary assets with just 100 on offer compared to 1000+ offered by some competitors
IC Markets
"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."
Christian Harris, Reviewer
IC Markets Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto |
| Regulator | ASIC, CySEC, FSA, CMA |
| Platforms | MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade |
| Minimum Deposit | $200 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:1000 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
- As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
- You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.
Cons
- While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.
- There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.
- Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
Pepperstone
"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."
Pepperstone Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting |
| Regulator | FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB |
| Platforms | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:500 (Pro) |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.
- Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates of 25%+ through the Active Trader program.
- Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.
Cons
- Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
- Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.
- Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
RoboForex
"RoboForex is great if you want a vast range of 12,000+ day trading markets with ECN accounts, powerful charting and loyalty promotions. It also stands out for stock traders with its user-friendly R StocksTrader platform, featuring 3,000+ shares, fees from $0.01 and sophisticated watchlists."
RoboForex Quick Facts
| Bonus Offer | $30 No Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures |
| Regulator | IFSC |
| Platforms | R StocksTrader, MT4, MT5, TradingView |
| Minimum Deposit | $10 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:2000 |
| Account Currencies | USD, EUR |
Pros
- RoboForex is known for its tight spreads starting from 0 pips and low minimum deposits from $10, making it accessible to those on a budget. The ability to trade with micro lots further lowers the barrier to entry for new traders.
- The broker offers leverage up to 1:2000 for certain account types, which is among the highest in the industry. This high leverage allows day traders to maximize their trading potential, albeit with a corresponding increase in risk.
- The R Stocks Trader platform rivals leading solutions like MT4, with netting and hedging capabilities, comprehensive backtesting, Level II pricing, and a flexible workspace.
Cons
- Despite 15+ years in the industry and registering with the Financial Commission, RoboForex is authorized by one ‘Red-Tier’ regulator – the IFSC in Belize, lowering the level of regulatory protections for traders.
- While RoboForex offers competitive spreads, some of its account types come with high trading commissions up to $20 per lot, trailing the cheapest brokers, such as IC Markets.
- RoboForex now restricts base currency options to USD and EUR. This limitation may inconvenience day traders preferring to manage their accounts in other currencies, while potentially leading to conversion fees.
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. If you do go down this route, it’s important to adhere to the SEBI’s regulations and tax rules in India.
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.
- IG maintains its position as one of the most respected brokers that accepts Indian day traders. It has over 50 years of experience and authorization from a long row of tier-one regulators. We’ve also traded at this broker using real money and found it offers the full package for day traders.
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.
- CMC Markets offers excellent pricing for active day traders, especially if you want to speculate on currencies with spreads from 0.5 pips. There are also no fees for deposits and withdrawals.
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.
- IC Markets really excels here with three of the best third-party platforms for day trading: MetaTrader 4 (MT4), MetaTrader 5 (MT5) and cTrader. Accessible via desktop, web browser and mobile apps, they offer first-rate charting packages and support algo trading.
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.
- Interactive Brokers offers an almost unrivalled selection of instruments with access to 150 markets, including the National Stock Exchange of India.
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.
- Pepperstone stands out here, with execution speeds as fast as 30 milliseconds, catering to ultra-short-term strategies like scalping and the use of Expert Advisors (EAs).
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.
- AvaTrade offers leverage trading with transparent margin requirements, however where it stands out is its unique AvaProtect risk management tool which allows you to get your money back on losing trades up to $1,000,000.
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.
- Interactive Brokers is a great pick here as it supports INR as an account currency and has an accessible starting deposit of $100 or INR equivalent.
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:
- We confirmed the firm is regulated by the SEBI or a respected international body
- We evaluated the fees you will incur making day trades
- We tried the platform and/or app to check it’s suitable for short-term strategies
- We compared the assets available for day trading, including Indian markets
- We investigated the speed and quality of order executions
- We looked at support for leveraged trading and margin requirements
- We verified the minimum deposit required to start day trading in India
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. Additionally, make sure you continue to follow your local tax rules.
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.
Recommended Reading
Article Sources
- Securities and Exchange Board of India (SEBI)
- Reserve Bank of India (RBI)
- National Stock Exchange of India (NSE)
- Bombay Stock Exchange (BSE)
- BAAP of Chart Indian Trading Scam - India Today
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