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Top forex brokers in India

So you want to start trading Forex in India, but you don’t know where to begin? You’ve probably given a lot of thought to the best international trading brokers and Indian forex markets. To open a forex trading account, you might or might not have explored brokers based in India, or at least those open to Indian nationals.  Looking at the Indian foreign exchange market has prompted us to build this list of the top forex brokers in India.


Trading in Forex, CFDs, and Options on a wide range of asset classes is available at Swissquote Bank. That includes currencies and currency pairs, FX options, metals, commodities, and bonds. In addition to the bank’s Advanced Trader platform and MetaTrader 4 and 5, traders can trade on various other trading platforms. The Swiss Federal Financial Market Supervisory Authority (FINMA) has granted Swissquote Bank Ltd. a banking license, and the bank is a member of the Swiss Bankers Association.

Saxo Bank

Investors can use one account to trade on more than 40,000 different items, including Forex and CFDs; stocks; options; exchange-traded funds; commodities; futures; bonds; and mutual funds; all from a single SaxoTraderGO or SaxoTraderPRO terminal. There are 15 jurisdictions where the Saxo Group is regulated, including the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Financial Services Agency of Japan (FSA).

You can trade foreign currencies and precious metals on Over 80 currency pairs, silver, and gold, can all be changed by investors? Traders can choose from three types of accounts: Standard, Commission, and Direct Market Access. The trading platform or MetaTrader can be accessed via a web browser, a mobile app, or a desktop computer.

The City Index

Spread Betting, CFD, and Forex trading broker City Index is authorized by the UK Financial Conduct Authority (FCA) (FCA). Trade Indices, Shares, Forex, Cryptos, and Commodities on more than 12,000 instruments with City Index on the MetaTrader 4 platform, the broker’s own proprietary HTML 5 trading platform, or the AT Pro desktop application.

FX vantage point

ECN Forex broker Vantage FX provides access to more than 120 tradable assets on the MetaTrader 4 platform for Mac and PC and social trading platforms such as MT4, MT5, MT6, and MT7. Vantage FX is licensed and regulated by CIMA, known as the Vantage International Group.


Vanuatu Financial Services Commission (VFSC) regulates LegacyFX through its parent business, AN All New Investments (VA) Ltd, established in 2012 and is a subsidiary of LegacyFX. Trading on more than 200+ financial instruments, including CFDs on the Forex, commodities, oil and cryptocurrency markets, and indices and stocks, can be done on LegacyFX’s Silver, Gold, Platinum, and VIP trading accounts. The first three accounts are swap-free, and customers can choose between fixed or variable margins for their transactions.


Users of Oinvest’s MetaTrader 4 trading platform for Windows Desktop and Android and iOS mobile devices can trade on several asset classes, including Forex, Stocks, Commodities, and Cryptocurrencies. Oinvest claims to be regulated by the Seychelles Financial Services Authority (SFSA) through its firm name Aronex Corporation Ltd. However, neither entity is recognized as an approved entity on the regulator’s register, but they have a license number and certificate.


A Forex and CFD broker, FBS offers leverage up to 1:3000 on the MetaTrader 4, MetaTrader 5, and FBS Trader trading platforms for PC, Mac, web, Android, and iOS. They also offer to trade on Forex, Indices, Stocks, Metals, and Energies. The CySEC and the IFSC govern FBS. In addition, FBS offers a $50 bonus to customers in India. It is possible to trade in micro-lots in FBS’s Cent accounts, allowing traders to manage their risk better and minimize losses.

Is it illegal in India to trade forex?

That is the most critical question to ask regarding forex trading for Indian citizens. No, is the short response. For Indian forex traders, however, there are a few issues that we shall discuss.

SEBI (Securities and Exchange Board of India) regulates forex trading in India in the same way other nations control foreign exchange and trade. There is, however, a significant distinction between the Indian rupee and other currencies because the Reserve Bank of India (RBI) prohibits trade in Indian rupees with other currencies.

Indian traders’ only option for trading foreign exchange is in INR-based pairs with significant currencies such as the US dollar, euro, British pounds, and the Japanese yen. Regulations on trading in other major currency pairs, including USD/JPY and EUR/USD, have recently been loosened by the Indian government. This pair is the only one currently available.

However, Indian forex traders are prohibited from using any online forex trading platform not licensed by the Securities and Exchange Board of India (SEBI). If you’re an Indian expatriate reading this review, you’re likely exempt from many of these restrictions and free to obey the laws of wherever you happen to be.

Choosing a Forex trading firm

Choosing an online Forex broker isn’t an easy task, every trader has various goals and methods in mind, but there are a few essential traits that every trader looks for:

  • Regulation and trustworthiness

For this reason, it is best to deal with a regulated broker, as this ensures that your broker has completed all regulatory requirements.

  • Low charges

A low-fee brokerage allows you to keep a more significant portion of your profits. A wide variety of Forex brokers charge you in the form of commissions and spread markup.

  • Excellent trading platform and toolset

When you log in to your account, you should be able to access all of the resources you need to succeed. If you’re looking for a forex broker or trading platform, look for one that offers desktop, mobile, and web-based options for managing your account, conducting research, tracking positions, and placing trades.

  • Effortless trading

You can lose a lot of money if you take a few seconds to press the buy or sell button. Real-time data and near-instant executions are essential features of a platform.

A leading reviewer of Forex and CFD (contract for difference) brokerages, FX Empire has years of experience studying and evaluating financial organizations around the globe.

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