Forex Brokers in India
Indian Broking Industry is known for its stock trading which also is listed among the top growing within the financial industry and recently including numerous brokers operating through local Bombay Stock Exchange. There are two types of Indian Brokers that includes discount and full-service companies, while the first group providing lower cost with less service, and the second group includes full trading offering with various services apart from only buying and selling shares.
- In India, most of the brokers are bank subsidiaries that provide various account types alike saving the account, online trading and demat accounts.
However, particularly in regards to Forex trading, there are many discussions happening around since the Reserve Bank of India (RBI) making statements with a purpose to limit online trading to individuals and retail investors. That is done by various ways, e.g. banks are obliged to report in case Indian residents transferring money to forex trading accounts, as well there is no any domicile Indian Forex brokerage firm.
However, that does not stop the international companies to open their offices, maintain branches, propose trading service to the residents and become Indian Forex Brokers. Of course, with its growing popularity Indian traders also have found ways to bypass the law and invest with international firms, by using third-party transactions alike e-wallets. Yet, every trader or potential investor should use extra caution as there are many offshore and fraud companies that offer their alleged attractive trading opportunity and unfortunately scam thousands of innocent traders. For that reason, while trading with India Forex Brokers choose only those that are heavily regulated by the respected international authorities.
|IG Markets||FCA, ASIC, CFTC, FINMA, MAS, JFSA, DIFC||
Min. Deposit: GBP 250
Max. Leverage: 1:30
Trading Platforms: MT4, IG Proprietary
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|Saxo Bank||Danish FSA, ASIC, JFSA, MAS, FCA, FSC||
Min. Deposit: 2,000 US$
Max. Leverage: 1:100
Trading Platforms: SaxoTraderGo, SaxoTraderPRO
|0 Reviews||Saxo Bank Review|
Min. Deposit: 250 US$
Max. Leverage: 1:400
Trading Platforms: MT4, Trade Interceptor
|0 Reviews||ThinkMarkets Review|
|Interactive Brokers||US SEC & CFTC, ASIC, FCA||
Min. Deposit: 2000 US$
Max. Leverage: 1:40
Trading Platforms: TWS, IB WebTrader
|0 Reviews||Interactive Brokers Review|