Forex Brokers in India 2020
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 the local Bombay Stock Exchange.
Who are India Forex Brokers?
There are two types of Indian Brokers that includes discount and full-service brokerage 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 domicile Indian Forex brokerage firm.
Well, possible limitations does not stop the international companies to open their offices, maintain branches, propose trading service to the residents, or accept Indian clients in reverse become Indian Forex Brokers.
In fact, currency trading and Forex trading becoming more and more popular in India, while in addition it is recommended that Forex Broker will be authorized by the local The Securities and Exchange Board of India the financial regulatory body in India. See more details through the official Website: www.sebi.gov.in.
SEBI operates for a quite long time already while was established in 1988, yet still gives rather an identification to Forex broker registration that you can check through its website and control the market proposal.
Best Forex Brokers India
In the selection of the Best Forex broker you should consider numerous points, so below you will find a listing of the Best Reviewed Brokers that accepts clients from India, also created according to the adherence to regulations, safety and its Trust Scores.
- GO Markets – Best Overall Broker in India 2020
- Interactive Brokers– Lowest Spread Broker in India 2020
- Alpari – Best MT4 Broker in India 2020
- IG – Best Broker for Beginners in India 2020
- FBS– Best for Scalping and EA Trading 2020
India Forex Brokers List
These are the regulated brokers that accept clients from India:
Min. Deposit: 10,000 US$
Max. Leverage: 1:30 | 1:100
Trading Platforms: SaxoTraderGo, SaxoTraderPRO
Regulation: Danish FSA, ASIC, JFSA, MAS, FCA, FSC
|Saxo Bank Review|
Min. Deposit: 2000 US$
Max. Leverage: 1:40
Trading Platforms: TWS, IB WebTrader
Regulation: US SEC & CFTC, ASIC, FCA
|Interactive Brokers Review|
Min. Deposit: 0 US$
Max. Leverage: 1:400
Trading Platforms: MT4, MT5, ThinkTrader
Regulation: ASIC, FCA, FSCA