As a general rule, it's best to use a broker regulated in your country of residence. However, due to restrictions on locally regulated financial institutions in India, the only way for local citizens to speculate in the forex market is to use a foreign broker — such as those on our list — that accepts clients who reside in India. The Securities and Exchange Board of India , or SEBI, is the financial regulatory body in India. The SEBI was established in as a nonstatutory body and given powers with the SEBI Act Read more about SEBI history on its Wikipedia page.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. To find the best forex brokers in India, we created a list of all brokers that accept new customers from India and ranked them by their Overall ranking, calculated during our in-depth annual review of forex brokers.

This exacting analysis of more than variables includes our proprietary Trust Score more on Trust Score below. Compare forex and CFD brokers that are authorised in India, side by side, using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm's ForexBrokers. com Overall ranking. In addition to our top picks above, we've reviewed and rated several more brokers who accept residents of India as clients, included below. Choosing a regulated broker is crucial for avoiding forex scams, and the country where your broker is regulated is equally important.

Traders should always consider all licenses a broker may hold across its various global entities and brands. Our Trust Score, a proprietary algorithm, ranks those regulatory agencies into three groups, with Tier 1 indicating the most stringent financial regulators and Tier 3 the least strict. We currently rank SEBI as a Tier 2 Jurisdiction. Our data collection on each broker results in a ranking from 1 to 99 of the broker's overall trust.

The higher a broker's Trust Score, the better. Learn more about Trust Score here. To identify if a forex broker is authorised by the SEBI, the first step is to identify the registration number from the disclosure text at the bottom of the broker's homepage.

For example, here's the key disclosure text from Interactive Broker's website,. SEBI Registration No. INZ; NSDL: IN-DP-NSDL Next, look up the FSP number on the financial register available on the SEBI's website to validate that the broker is currently authorized in India. Yes, but unless you are just exchanging cash at the airport while traveling through India, most SEBI-regulated brokers that offer forex trading will be limited to exchange-traded forex products such as currency derivatives.

non-deliverable spot to Indian residents. Forex trading in India is highly regulated when it comes to the physical exchange of one currency for another where actual, physical delivery of the currency takes place and is legal when done so by a SEBI-regulated broker. On the other hand, residents of India will have a hard time finding a way to trade non-deliverable spot forex from a margin account. Many residents of India use SEBI-regulated brokers to invest in local exchanges such as the National Stock Exchange NSE and the Bombay Stock Exchange BSE , while foreign brokers that accept clients from India are the only option for investors who are looking to trade forex in India.

Still, if you are a resident of India and you are considering trading forex using a foreign broker, make sure they are highly regulated.

Additionally, the Central Bank of India has restrictions in place that can make it difficult to deposit and withdraw funds with foreign forex brokers that are not regulated by the SEBI. Forex, short for foreign exchange, refers to the trading or exchanging that takes place in international currency markets, in which one currency is bought or sold in return for another foreign currency.

The goal for forex traders — and it's a tricky one — is to profit by accurately predicting fluctuations in value. There are various types of participants in the forex markets: retail and institutional traders, large corporations, banks, and central banks that help regulate monetary policy, such as when printing money that enters circulation. There are at least two sides to every forex trade.

AvaTrade seems a safe forex broker because it is regulated in 6 regions EU, Japan, Australia, South Africa, UAE, the British Virgin Islands. Also read — how to start forex trading. Com app allows you to trade in Forex, Stocks, Indices, Commodities, and Cryptos with One-swipe execution.

You can simply trade instantly using the one-swipe feature from the chart or watchlist wherever you are. You can find the ideal trade entry spot using the 14 timeframes ranging from one minute to one month. Most professional traders establish one longer-time frame and a shorter time frame to spot the ideal entry into the market.

Check out — Rock West Forex Broker Review. The best part is you can use Google Pay GPay as well to deposit the funds with no commission. You can also use the 1-click trading feature for placing buying and selling orders instantly which comes in handy when the market is volatile.

FXTM also provides quick sync between web platform and mobile app making it convenient for you to trade on the go. Quick sync avoids lag between desktop and mobile platforms. Check out — Best forex cards for student in India. OlympTrade app is also following OctaFX, Exness, and IQ Option to offer easy fund transfer options for Indians. You can deposit money instantly through UPI, Phone pe, wallets like Paytm, ICICI Bank account, and Debit and Credit cards.

You can also utilize your bitcoins, ether, and tether for funds deposit. You can trade in 30 plus currency pairs on the OlympTrade app with a margin leverage of up to You also get a unique Profit line feature in the app that helps you identify the break-even point in your trade so that you can quickly set the exit price to avoid bigger losses in bad times.

Also read — How to earn money online for students. If you are a professional trader, go with the AVATrade Go app that offers in-depth research tools and comes with unique volatility protection to hedge your trade to avoid loss. I have done B. com and MBA in finance, so have a keen interest in personal finance. You will find the information related to investment, credit card, taxation and banking on my blog.

Blog Investment Forex Credit Card Banking Insurance Demat Account. Pros Regulated By ASIC, CySEC and FSA-SC Foundation Year: Min. Cons Beginner Traders May Be Overwhelmed By the Choice Of Markets and Platforms. DOWNLOAD IC MARKETS. OctaFX App. Trading Experience 8. Mobile Trading 7. Asset Coverage 8. Cons Limited Commodity Markets, No Individual Stock CFDs.

DOWNLOAD OCTAFX. Olymp Trade App. Customer Support 7. Mobile Trading 8. Cons Limited To Certain Jurisdictions. DOWNLOAD OLYMP TRADE. FXTM App. Pros Regulated By CySEC, FCA and FSC Foundation Year: Min. Cons Traders From USA, Canada and Iran Not Welcomed.

DOWNLOAD FXTM. Alpari App. Pros Regulated By FSC Foundation Year: Min. Cons Non-Existent Research Tools Traders From USA, Canada and Iran Not Welcomed. DOWNLOAD ALPARI. eToro App. Pros Regulated By ASIC, CySEC, FCA and MiFID Foundation Year: Min. Cons Does Not Have The MetaTrader Platform. DOWNLOAD ETORO.

If you are confused about which is the best forex trading app in India that suits your requirements, then go through this article. We have divided the 10 best forex trading app in India into two categories —.

Disclaimer — This article is for educational purposes only. As per SEBI, you can legally trade forex only in EUR-USD, GBP-USD, USD-JPY along with INR-based currency pairs with SEBI registered brokers. You should have technical knowledge of the currency markets before starting forex trading.

IG Trading app is ideal for you if you are looking for a trusted forex broker because IG Markets Ltd is a part of IG Bank, regulated by FINMA in Switzerland.

IG Markets Ltd. has also signed the FX Global Code of Conduct that ensures genuine practices in the market. You can also trade in 27 major commodities including gold, silver, and oil. If you want to trade in bitcoins, ether, or other major cryptocurrencies, then no worries as IG Trading has recently added cryptocurrency trading through the app. App has a very clean interface with an instant overview of market prices, spread, and margin at one place making it ideal for beginners as well as professionals.

You also get detailed charts with 28 indicators such as MACD, RSI, and Bollinger Bands with 19 drawing tools for in-depth analysis. You can also enjoy free integrated access to ProRealTime for advanced charting and analysis.

You can also set technical indicator alerts to get updated when the market meets your conditions for favorable trading opportunities. However, their account approval process is slow and you might have to wait for even 7 to 10 days to get the account opened. iFOREX app allows you to trade in 90 currency pairs like US Dollar, Euro, GBP, and CAD along with other financial instruments like stocks, cryptocurrencies, indices, and commodities.

iForex app also offers one-to-one free training modules to learn forex trading making it ideal for a beginner trader.

You can easily access the educational stuff at the education center that includes basic as well as advanced learning material. You can read pdf files or watch videos along with personal training. You can access live prices, technical analysis, charts, and market signals to help you catch the next trading opportunity. You can also enjoy up to x leverage allows you to open large deals with minimum investment. Also check — What is swap in forex.

You get quick withdrawals in the Exness app which is a plus point because most forex traders take time when it comes to withdrawing money.

You can use 3 charting styles — Line, bar, and candle to view the market trend. Charts come with technical indicators like TC indicator, Moving Average, Bolinger bands, and Parabolic SAR to analyze the real-time market movements. Exness app offers a dedicated customer support desk to connect with customer support through live chat in the app or you can also connect over email, WhatsApp, and Viber in case of any issue.

Also read — Best time for forex trading in India. If you are looking for a low-deposit forex broker that offers plenty of Indian payment instruments for fund transfer, then go with the IQ Option broker app.

You can transfer funds through the options given below —. If you want to confirm market trends over multiple time frames, you can choose candlestick charts and timescale for the bar from 18 different intervals which is impressive.

IQ Options also have a solid customer support desk capable to handle clients in 18 global languages but still Hindi is not on the list. Also check — HDFC forex card charges in OctaFX is ideal for beginners as you can deposit funds without any hassle using UPI like Google pay, Phone Pe because these options are offered by limited brokers.

OctaFX Trading app comes with two Indian languages support Hindi and Bengali making it a user-friendly app for the regional language user. You can also fill up your balance instantly with recently used deposit volumes and preferred payment options thanks to the Deposit History feature that allows you to follow your strategy and save time in entering amounts manually.

You can read the detailed OctaFX Review here. eToro is one of the best copy trading apps that allows you to replicate the trading strategies of top traders by paying a nominal profit share to them. Once you connect with any trader, the app automatically copies him and your trade is placed when he trades.

eToro is also one of the fully regulated crypto service providers if you are interested in trading in Bitcoins , Ethereum, and other cryptocurrencies without paying any deposit fees. You can deposit or withdraw funds hassle-free through the wire to trade in forex, cryptos, or stocks.

You can customize your Watchlists as per your requirements and even set alerts if any sudden fluctuation happens. Check out — Is forex trading legal in India. AvaTrade GO app comes with a unique volatility protection benefit called AvaProtect. AvaProtect allows you to partially hedge your position at nominal cost to avoid a bigger money loss risk in the open trade. You can trade in more than currency pairs including several derivatives and Avatrade also allows you to engage in social trading and copy trading strategies of top traders across the globe.

You also get 93 indicators such as Pivots, MACD, RSI in the app along with integrated research tools from Trading Central to do a deep analysis of the market trends on the go. AvaTrade seems a safe forex broker because it is regulated in 6 regions EU, Japan, Australia, South Africa, UAE, the British Virgin Islands.

Also read — how to start forex trading. Com app allows you to trade in Forex, Stocks, Indices, Commodities, and Cryptos with One-swipe execution. You can simply trade instantly using the one-swipe feature from the chart or watchlist wherever you are. You can find the ideal trade entry spot using the 14 timeframes ranging from one minute to one month. Most professional traders establish one longer-time frame and a shorter time frame to spot the ideal entry into the market. Check out — Rock West Forex Broker Review.

The best part is you can use Google Pay GPay as well to deposit the funds with no commission. You can also use the 1-click trading feature for placing buying and selling orders instantly which comes in handy when the market is volatile. FXTM also provides quick sync between web platform and mobile app making it convenient for you to trade on the go. Quick sync avoids lag between desktop and mobile platforms. Check out — Best forex cards for student in India. OlympTrade app is also following OctaFX, Exness, and IQ Option to offer easy fund transfer options for Indians.

You can deposit money instantly through UPI, Phone pe, wallets like Paytm, ICICI Bank account, and Debit and Credit cards. You can also utilize your bitcoins, ether, and tether for funds deposit.

You can trade in 30 plus currency pairs on the OlympTrade app with a margin leverage of up to You also get a unique Profit line feature in the app that helps you identify the break-even point in your trade so that you can quickly set the exit price to avoid bigger losses in bad times. Also read — How to earn money online for students. If you are a professional trader, go with the AVATrade Go app that offers in-depth research tools and comes with unique volatility protection to hedge your trade to avoid loss.

I have done B. com and MBA in finance, so have a keen interest in personal finance. You will find the information related to investment, credit card, taxation and banking on my blog. Blog Investment Forex Credit Card Banking Insurance Demat Account. Leave a Comment Cancel reply Comment Name Email Website Δ. Related Posts Forex.

You also get 93 indicators such as Pivots, MACD, RSI in the app along with integrated research tools from Trading Central to do a deep analysis of the market trends on the go. The slope of the line indicates how strong the trend is, making them good for quick analysis of market behavior. You can trade in 30 plus currency pairs on the OlympTrade app with a margin leverage of up to These charts are often used by Indian traders as a starting point for further analysis. All websites and web-based platforms are tested using the latest version of the Google Chrome browser. If you are a Indian Forex beginner, focus on trading a small number of currency pairs. The Android version of MetaTrader 4 is available for a wide range of mobile devices, making it extremely convenient to trade on the go for Indian traders.

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