Best Forex Broker in India 2022: Top Indian Forex Brokers List!

The trading forex exchange market is a 24-hour market where retail currency traders meet and speculate on India’s current trends in currencies. The best forex broker in India and institutional clients benefit from any other currency trading. The trading forex market is ever-growing. India forex brokers make money from the bid or the spread of a foreign currency pair traded or by charging additional fees (like a monthly fee) to access a specific forex trading software or some exotic trading products. Institutional clients make money by buying or selling currencies at a profit.

Currency Trading in India – A Quick Glance Summary

In India, a foreign exchange broker is generally a financial services company acting as a middleman between traders and the interbank to facilitate the easy trade of foreign currencies between them (one currency is brought or sold in return for another). Here the forex trading brokers give you various trading platforms.

The foreign exchange broker mostly buys and sells currencies on behalf of the traders. Many best forex brokers in India are operating online, and many online forex brokers now offer high-level forex trading platforms in India to trade foreign currencies. A foreign exchange broker is also called a currency trading broker or retail forex broker for its significant contribution to retail investor accounts.

10 Best Forex Trading Platform in India

  1. OctaFX:- Ideal For Using Forex Trading App For Beginners
  2. Olymp Trade:- Ideal Trading Platform for Indian 2022
  3. FXTM:- Ideal Features For India Copy Trading and Social Trading
  4. iForex:- Ideal for Easy User Interface & Security Mechanisms
  5. FBS:- Ideal for Tradable Assets, Spreads, & Bonuses
  6. XM:- Ideal for Wide Range for Forex Markets at Very Low Spreads
  7. Alpari:- Ideal for Negative Balance Protection Feature
  8. Ideal for Diverse Financial Instruments with Min. Spreads
  9. HYCM:- Ideal for Low Spreads & Competitive Leverage Ratios
  10. FXCC:- Ideal for Zero Commission Trades

Regulated Forex Brokers in India

Your hunt for the list of the best and leading forex for forex trading in the Indian financial market will probably end here. These are leading forex from the globe. Some of the best forex brokers India has are listed below:-


OctaFX is a leading global forex and CFD broker established to offer multi-asset trading platforms like MT4 platforms, MT5 platforms, and cTrader platforms to trade. This forex broker has its headquarters in Grenadines and St Vincent with additional support offices in Jakarta, Indonesia, and Limassol, Cyprus; Limassol is its EU entity.

OctaFX Features
Regulated By CySEC
Best For Ideal For Using Forex Trading App For Beginners
Year Founded 2011
Minimum Deposit $25
Max Leverage 1:500
Tradable Assets FX Pairs, CFD Indices, Cryptocurrencies, Gold, Silver, Crude Oil, Brent Oil as Commodities

OctaFX is the best forex brokers that are regulated by the top financial regulatory body CySEC (Cyprus Securities and Exchange Commission). It is one of the best brokers in India, known for its lucrative bonuses and promo codes for beginners, commission-free trading, EU regulation, MetaTrader, and cTrader.

As per published reviews, OctaFX, the best forex broker India, was established in 2011. The minimum initial deposit for the micro trading account (MT4) and the ECN trading account (cTrader) type is 100 USD, whereas the initial deposit for the Pro (MT5) account type is 100 USD which is suitable for experienced traders along with mobile app support.

OctaFX - Best Forex Broker in India

The max leverage on these best forex brokers platforms on currencies for the MetaTrader 4 (MT4) platforms and cTrader account holders is up to 500:1; for MetaTrader 5 (MT5) trading point holdings, it is up to 200:1. For Metals, stock market indices, and cryptocurrencies, the max leverage limits are up to 200:1, 50:1, and 25:1, respectively.

The trading platforms company also accepts clients from the EU or the US national futures association who can only avail of single max leverage. Although, find more about OctaFX review in detail to know their services, features, various asset classes, trading platforms, deposit and withdrawal fees & more.

OctaFX forex broker is regulated & offers the following tradable instruments to invest in 35 foreign (currency) pairs, including the most common USD/JPY, GBP/USD, and EUR/USD (where base currency varies as per pair choice), leading CFD indices like NASDAQ and US30, leading cryptocurrencies – Bitcoin, Litecoin, and Ethereum, then Silver, Gold Crude oil and Brent oil as real-time commodities which accept clients from India that also let you know the exchange rates as the foreign exchange market is highly volatile.

Pros and Cons of OctaFX

Pros Cons
right The broker trading platforms offer commission-free trading in India. You have limited funding options compared to the other top 10 forex brokers in India 2022.
right It supports its own proprietary trading platform on the mobile app and the desktop version. Less service for 0 pips spreads available to forex trading.
right Copy-trading is available for beginners, & MT4, MT5, & more support.
right Lucrative bonuses and contests are available even for non-EU traders.

Fee Structure

The variable spread for the leading currency pair EUR/USD is around 0.7 pips for both the cTrader and the MetaTrader platforms. Trading fees (variable spreads) for the gold spreads (XAUUSD) are around 10 pips, and for major indices like NAS100, the spreads spike to around 3.5 points. Bitcoin spreads (BTCUSD) hover around 3.1 pips. Fixed spreads are available for MetaTrader 4 (MT4) USD accounts.

No commissions are charged for withdrawals, deposits, or currency conversions except for deposits made via Perfect Money, for which a nominal fee is charged from traders. However, a nominal trading commission is charged from Indian traders at the rate of 0.02 USD per 0.01 lots for the cTrader account types. Indian clients are also eligible for respective spreads. These trading platforms also provide reasonable conversion fees.

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Olymp Trade

Olymp Trade is amongst the regulated best brokers in India, having over 25,000 active clients registered on its platform. The easy-to-use interface, responsive customer service like email address, generous spreads, lucrative trading bonuses, and plenty of deposit methods and withdrawal methods attract both beginners and seasoned traders.

Olymp Trade Features
Regulated By IFC
Best For Ideal Trading Platform for Indian 2022
Year Founded 2014
Minimum Deposit $10 or €10
Max Leverage 1:400
Tradable Assets Stocks, Commodities, Currencies, Currency Pairs, ETFs, Cryptocurrencies

Olymp Trade, an online forex broker, is regulated by the IFC or the International Financial Commission. Olymp Trade is best known for its competitive spreads and commissions, multiple over-the-counter payment options, including debit card payment and bank wire transfer (from local banks or central banks), free demo account, and a wide range of tradable instruments, fixed-time trading, and currency derivatives provided by these best brokers that accept clients from India.

Olymp Trade - Top Forex Trading Brokers in India

Olymp Trade broker is regulated & has been serving its clients as one of the best forex brokers in India since 2014 and is a member of the International Financial Commission. As for MT4, MT5, mobile app, etc., it supports the MT4 platform (MetaTrader 4). The minimum initial deposit requirements to start forex trading on the platform is €/$10.

Major forex pairs are the EUR/USD has leverage up to 1:30, whereas the minor pairs can expect leverage up to 1:200. Max leverage can go up to 1:400, supporting INR-based currency pairs. However, if you want to explore more in detail about the Olymp trade review platform features, deposit and withdrawal methods, social media channels, more trading platforms, & more, we have it covered.

Pros and Cons of Olymp Trade

Pros Cons
right A user-friendly trading platform attracts users from all over the world and from India. cancel Apart from being a member of a national exchange, It is not regulated under any official body like the CySec (Cyprus Securities & Exchange Commission), FCA (UK Financial Conduct Authority), or the ASIC (Australian Securities & Investments Commission). Thus, new traders cannot have full confidence in this broker.
right It supports multiple languages and a free demo account for beginners to sign up. cancel Non-verified client accounts face a lot of problems while withdrawing funds.
right Generous leverage and accepts clients from all regions. cancel The terms and conditions for bonuses are not clear.
right Low minimum deposit money is required if you want to open a new account. cancel Provides only 2 types of accounts & MetaTrader 4 and 5 only support 4.
right Multiple payment options, deposit methods, forex trades, and currency pairs, including wire transfer & mobile app.
right Wide choice of trading assets to choose from along with fixed time trading facility.

Fee Structure

These best forex brokers charge a fixed rate overnight fee limited to 15% of the total amount of investment. No custodial or maintenance fees on any forex trading account are charged as such, a low trading commission. Still, there is an inactivity fee (or subscription fee) at the rate of $10 per month charged on inactive accounts that have not been used beyond 180 days. Overall, trading fees are reasonable & have the lowest minimum deposit.

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FXTM or ForexTime Limited is a popular foreign exchange among most people; this Forex and CFD broker caters to the needs of both beginner and experienced forex investors. In addition to that, it is distinguished among many Indian forex brokers from India. Before you open an account, it has 6 account types to choose from: a standard account, ECN, & more features like automated trading, copy trading options, stock trading & more; this broker offers a vast stock market to forex investors as its presence is well known worldwide.

FXTM Features
Regulated By CySec, FCA, FSC
Best For Ideal Features For India Copy Trading and Social Trading
Year Founded 2011
Minimum Deposit Varies With Account Types
Max Leverage 1:2000
Tradable Assets Trade CFDs for Conventional Indices, Forex, Commodities, Shares CFDs, Spot Metals, Foreign Exchange Indices, Currency Pairs, Stock, Indices

FXTM is governed by the 3 leading official bodies, including – CySec, FCA, and FSC (Financial Service Commission) of the Republic of Mauritius. The platform is best known for its copy trading and social trading features and wide options of tradable currency pairs compared to other trading platforms. It also provides video tutorials, seminars, payment methods like wire transfers, free demo support, updated exchange rates, stock market options, and more, along with MT4, MT5, etc., to support and accept clients from India.

FXTM, one of the most reliable brokers was set up in 2011. Before you ask, what is the low minimum deposit? Then, the initial deposit when you want to open a new account starts from $10 for a micro account, and leverage depends on the trade types considered by forex traders.

FXTM - Top-notch Forex Trading Platforms in India

FXTM has a great user experience for clients & can trade in CFDs for conventional indices, Forex, and commodities like NASDAQ, DAX, and FTSE; buying and selling shares CFDs are like Google, Apple, BP, etc., and Spot metals like Gold and Silver but have less service for crypto. CFDs are the most complex instruments traded over a forex market via trading tools. Apart from these, this forex broker has also launched around 11 new dynamic indices split across almost 6 foreign exchange market indices and a good selection of around 180 stock trading indices.

Pros and Cons of FXTM

Pros Cons
right These Indian forex brokers will get you competitive forex-trading fees. It has high fees attached to bank account withdrawals via bank transfers.
right It can be safe to say that tight regulation by 3 leading regulatory bodies helps ensure safety. The FSC-regulated brokers charge inactivity fees to the forex trader.
right You have the privilege of excellent customer service, e-mail, and video tutorials to learn. Limitations imposed in trading for crypto assets.
right It can also offer various trade signals for the best accuracy along with MT4, MT5, etc., & easy bank transfer.

Fee Structure

Become aware that the price for leverage-based trading in India with the ForexTime broker is a little on the higher side as the broker levies some additional charges that many traders cannot afford. As for the spread and commissions, the FXTM trading platforms broker is again on the lower spectrum with the tightest spreads start, as low as 0 pips, and, in addition to that, no commissions for ECN account types.

However, the trading platforms spread may be a little higher but competitive for standard account types and reasonable forex trading fees. Even experienced traders and forex trading accounts lose money while trading CFDs with the provider or other forex brokers.

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iForex is foremost among multi-regulated forex brokers and owns a proprietary trading platform where you can trade CFD and forex both on desktop and a mobile trading app for mobile trading. The platform has its headquarters in Limassol, Cyprus, and operates under its parent’s company, Formula Investment House Ltd. The platform accepts clients from over 100+ countries in the world (these are the region including Greece, India, the Philippines, and Venezuela) with over operations in 16+ languages.

iForex Features
Regulated By CySec, FCA, FSC (British Virgin Islands)
Best For Best for Easy User Interface & Security Mechanisms
Year Founded 1996
Minimum Deposit $1000
Max Leverage 400:1 (Forex or Commodities); 200:1 (CFD)
Tradable Assets Shares, Stocks, ETFs, Indices, Commodities, & Cryptocurrencies

iForex’s parent’s company, Formula Investment House Ltd, is regulated through the Financial Services Commission of the British Virgin Islands. In contrast, its European subsidiary is regulated via CySec and the FCA regulation in the UK. iForex trading platforms are best known for their easy user interface, various trading assets, a copy trading option, and efficient safety and security mechanisms.

iForex - Comes in Best Indian Forex Brokers

iForex was founded in 1996. The Indian forex brokers have an initial deposit required that is $1000. Forex or commodities come with high leverage of 400:1, while the leverage for a CFD is 200:1. For you, it provides excellent customer service like an email address to support any of your daily queries & has a great user experience.

This proprietary platform accepts clients from every corner & boasts of providing a wide range of trading assets, including buying and selling of shares, ETFs, indices, real-time stats of commodities, stock market options, and cryptocurrencies like Bitcoin, Ripple, and Ethereum, but no MT4, MT5, etc. support.

The deposit options are available with various payment options like Bank Wire, Credit Card, Debit Card, and e-Wallets which many brokers like FP markets offer. Learn more about the platform in our iForex review and the list of features, and stock market options, that are suitable for you.

Pros and Cons of iForex

Pros Cons
right Registered under CySec and therefore offers reliability in trading currencies. There are no options available for social trading or auto trading features.
right You will get an extensive list of investment products available by these Indian forex brokers. With its lengthy withdrawal processes, receiving your funds can be time-consuming.
right The responsive customer support team for you and support for different languages provide a great user experience. No MT4, MT5 Support.

Fee Structure

iForex charges an inactivity fee of $15 on a quarterly basis. An overnight financing charge of 5% pa is charged for indices, while it is 2.5% pa for commodities and virtual currency trade. The forex trades are commission-free with iForex, and its spreads for major currency pairs start at around 1 pip. Most forex traders lose money while trading CFDs & buying and selling with this web-based trading platform.

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FBS is one of the leading global online CFD. It belongs to regulated fx brokers, accepting clients from across geographical borders like Malaysia, Indonesia, Pakistan, South Africa, and the EU via two types of trading platforms MetaTrader 5 (MT5) and MetaTrader 4 (MT4).

FBS Features
Regulated By CySEC, IFSC, ASIC, FSCA
Best For Ideal for Tradable Assets, Spreads, & Bonuses
Year Founded 2009
Minimum Deposit $1
Max Leverage 1000:1 (Cent Account Types); 500:1 (ECN Account Types); 3000:1 (All Account Types)
Tradable Assets Stocks, Commodities, Forex, Precious Metals, Energies, Indices, Cryptocurrencies

FBS is among India’s top forex brokers and is licensed under multiple regulatory bodies. For instance, the broker’s EU branch is registered under the major financial regulator CySEC; the global branch is controlled by IFSC or the International Financial Services Commission of Belize.

The regulating bodies, IFSC (International Financial Services Commission) Belize, monitors the trading platform closely. The top forex broker India for foreign currency trade is also regulated through the ASIC (Australian Securities and Investment Commission) in Australia and the FSCA (Financial Sector Conduct Authority) in South Africa.

FBS - One of the Legal Forex Brokers in India

FBS is well known for its multiple ranges of tradable assets, competitive spreads, and lucrative bonuses. FBS was founded in 2009. The initial lowest minimum deposit required to start currency trade with FBS is $1, with supportive payment options like credit cards, bank transfer & more. Its major forex pairs are EUR/USD, USD/JPY, USD/ GBP, etc. This Indian forex brokers list is long in terms of pair support.

The international broker has the leverage for EU traders starts at 3000:1 for all forex account types (Standard or Cent), while for global brokers, it is 1000:1 for Cent account types. 500:1 for ECN account types and a high degree of leverage 3000:1 for others. It is compatible with iOS, Android, Mac OS, and other desktop applications. It also provides 24-hour customer service. However, if you want to explore more in detail about the FBS review platform and its features, best customer support team, and buying and selling of pairs, we have it covered.

Note: The high degree of leverage can turn out to be very profitable or can drown you in a big loss. As Many trade accounts lose money when trading CFDs. When you opt for CFD trading, these financial institutions carry high risk.

Pros and Cons of FBS

Pros Cons
right Traders can open a forex trading account with low minimum deposits and can avoid a high risk of losing money in the learning stage. With International brokers, limited account types, and there are no more trading options available to trade.
Of all the trading platforms available, it offers lucrative deposit bonuses for you. Global trades with FSCA-regulated brokers sometimes attach huge commissions.
It enables you to enjoy the availability of 0 pips spread & has the best customer service.
Integrating MetaTrader 5 (MT5) and MetaTrader 4 (MT4) trading platforms can be possible. along with advanced tools.

Fee Structure

This international broker takes an overnight rollover fee that is swap-free on the FBS platform, along with a cancellation fee of €5 per transaction to benefit from price latency. Inactive accounts beyond 180 days are charged a monthly inactivity fee at the rate of €5.

A fixed-rate commission at $20 and $6 per lot is charged on this 0 pips spread account and the ECN account, respectively.

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XM is a group of next-generation online fx trading and commodity brokers that often rewards its traders worldwide with unique prizes like bikes and gadgets raffles. This broker offers a wide range of forex account types depending on your preferences and trading platforms. Signup with a free demo account that is best suited for beginners and provides the natural modes to quicken the initial learning stages of your trading journey.

XM Features
Regulated By CySec, ASIC, IFSC
Best For The right choice for a Wide Range of Forex Markets at Very Min. Spreads
Year Founded 2009
Minimum Deposit $5 or €5 or £5
Maximum Leverage 1000:1
Tradable Assets Forex, Stocks CFD, Equity Indices CFDs, Commodities CFDs, Energies CFDs, & Precious Metals CFDs

The XM group operates under the parent’s company with multiple brands, and each brand is regulated via different regulatory bodies & it makes the list of the best forex around. For instance, all Trading Point of Financial Instruments is controlled by CySec, while the ASIC (Australian Securities and Investments Commission.) foresees the Trading Point of Financial Instruments Pty Ltd, and the XM Global is supervised by the IFSC (the International Financial Services Commission).

This FX trading platform offers a sign up for a free demo account for beginners that will help you to become a better trader with practice by using the real scenario in trading and is easy to use. XM group also has MT4, MT5, & more platform support and a range of research tools and has a best customer service.

XM - One of the SEBI Registered Forex Brokers

XM Group, International brokers, is best known for providing a wide range of forex markets at a very minimum spread. You can access XM ultra low account. Just as a forex trading time-limited company is licensed by different regulators for each brand, the year of establishment for each brand is also different. It was established in parts in the years 2009, 2015, and 2017.

The initial deposit of an XM broker is 5 $/€/£, with supportive payment options like e-wallet, bank transfer, & credit cards. Max. leverage depends on the instrument traded and is between 1:1 to 1000:1. Tradable assets such as forex, stocks CFD, equity indices CFDs, commodities CFDs, energies CFDs, and noble metals CFDs also offer currency pairs that are more than 50, including the major USD, GBP, EUR, and JPY pairs.

CFDs are the most complex instruments to trade that carries a high risk of investment associated with them and a high risk of losing money due to leverage. Even Institutional traders lose money when trading CFDs.

Your trading decisions should be firm on how much risk you are willing to take since investor accounts lose money while they trade CFDs due to leverage. However, check out our honest XM review to know more about this award-winning trading platform & start trading.

Pros and Cons of XM

Pros Cons
You get access to wide options of currency markets to do forex trading. Diverse retail investor accounts give a less personalized feel.
Two leading trading platforms are available, MT4, MT5, – for easy signup & free demo accounts for beginners. Customer service is not available on weekends catering to forex traders.
Robust customer service is available in multiple languages that you can use.

Fee Structure

There are no hidden trading fees as such, and spreads depend on this the forex account types. The minimum spread is 0.10 pips which are reasonable as compared to many brokers like FP markets that are present in the market.

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Alpari International is a global online CFD and a forex broker operating on the MetaTrader 4 and MetaTrader 5 trading platforms. Alpari International is one of the SEBI-registered forex brokers and is controlled by The Financial Services Commission (FSC) of The Republic of Mauritius.

Alpari Features
Regulated By FSC
Best For Great for Negative Balance Protection Feature
Year Founded 1998
Minimum Deposit $5 or €5 or £5
Maximum Leverage 400:1 (MT4 Micro Account); 1000:1 (ECN & Standard MT4 account)
Tradable Assets US Stocks, ETFs, Forex Pairs, Global Equity Indices, & Commodities Like Gold, Silver, Natural Gas, and Crude Oil

As per our forex broker review, it is best known for its some of the most popular wide choices for trading other financial instruments such as modern trading tools, the Islamic account, min. spreads, and negative balance protection features that Alpari offers automated trading tools. Negative balance protection protects Indian clients against the financial changes in their current trade so that their accounts don’t fall into a negative balance.

Note: CFDs carry high risks due to leverage, including other asset classes as well like trade in forex, metals & more, which may not be suitable for all investors and is often susceptible to rapidly losing money, so trade safely and look for market volatility, hidden fees as well, which can be unpredictable; thus broker regulated through any known bodies is must.

Alpari - Top Forex Brokers in India

The original forex time limited company was founded in 1998 but relaunched its new brand in 2013. An affordable minimum deposit of $/£/€ 5 is required, with supportive payment options like credit cards. The max. leverage ranges from 400:1 (for MT4 MicroAccount) and 1000:1 (for ECN and Standard MT4 trading account); thus, MetaTrader 4 and 5 support plays a vital role. This website will not accept liability for any damage due to your trading activity. Learn more about the platform in our Alpari review and the list of its features and support tools.

Note: Online brokers warn about the risk, and accounts lose money when trading CFDs. CFD trading carries a high risk due to leverage on brokerage credit. So as retail investors, your investment objectives should be clear before trading.

Pros and Cons of Alpari

Pros Cons
External dispute resolution process that compensates customers up to a maximum of EUR 20000 to trade. This broker has withheld cryptocurrency trading.
Offers negative balance protection available to forex investors. There are no research tools available.
You can get benefit from the copy trading feature available. along with MT4, MT5, & more Support. Copy trading involves charges.

Fee Structure

As per the forex broker review, No commission is charged. The company also offers spreads as low as 0.5 pips for major currency pairs. The spread is 1.70 pips for (MT4) trading platforms accounts.

Sign Up Now is one of the advanced online CFD, and these India forex brokers are regulated in multiple countries and facilitate trades with over more than 300 global financial markets. Features
Regulated By FCA, CIMA, CySEC, NFA, SEC, FSA (Financial Services Authority)
Best For Best for Diverse Financial Instruments & Min. Spreads
Year Founded 1999
Minimum Deposit $100 or €100 or £100
Maximum Leverage 50:1
Tradable Assets Stocks, Indices, Forex, Commodities, & Cryptocurrencies

Regulated forex brokers in India 2022 for trading that are deemed to be some of the best forex brokers in the world that accept clients from the UK, US, Canada, Japan, and the EU. is also regulated via the respective regulatory bodies like the FCA, FSA (Financial Services Authority), CIMA (Cayman Islands Monetary Authority), CySEC (Cyprus Securities and Exchange Commission), NFA, SEC (Securities and exchange board), Financial Services Agency, etc.

As per the forex broker review, you can trade through stock exchanges like the National Stock Exchange (NSE) and, Metropolitan Stock Exchange (MSE) & more. The platform is also registered with the commodity futures trading commission. is one of the best known for its diverse tradable financial tools and trading tools which traders of India residents can make use of, and min. spreads. There are more than 40 different currency pairs available. This regulated forex broker provides support for MT4, MT5 & more. - One of the Top 10 Forex Brokers in India started trading forex in the currency market in 1999. A minimum initial trading account deposit of 100 £/€/$ is required. The max leverage is usually 50:1 & sometimes depends on the types of accounts considered by the Indian forex traders. New customers need to log into the company’s authorised and registered website to find out the applicable max leverage ratio and other financial services the platform provides. You can use the margin calculator to find the exact ratio. However, read the review, learn more about the platform’s services, and get started.

Note: Before making trading decisions, consider that many trading accounts lose money when trading CFDs. So as retail investors, your investment objectives should be clear before trading.

Pros and Cons of

Pros Cons
Registration under multiple jurisdictions like Financial Services Authority. You can face a lack of bonuses and promotions.
You can get a wide variety of multiple assets to trade, like forex trading. Spread betting is not available.
You can get competitive spreads along with MT4, MT5, & more support. Technical indicators are difficult to access.

Fee Structure

Four distinct pricing methods are available in this forex broker, depending on the trading account types. Spread as low as 0.1. As per our broker review, there is also a monthly inactivity fee of $15 in its trading account & a reasonable leverage ratio.

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HYCM (Henyep Markets) is the international CFD-regulated forex broker operating under its parent company, the Henyep Capital Markets Holdings Group, with offices in these diverse locations like the UK, Dubai, and Hong Kong, and Cyprus.

If you are planning to deal in foreign currencies, the forex broker company has a total of 4 distinct brands operating under the parent’s company, but as distinct entities, they are registered by distinct regulatory bodies for financial services in the country. The Commodity Futures Trading Commission & Financial Services Authority does not regulate it.

HYCM Features
Regulated By FCA, CySEC, CIMA, DIFC (Dubai Financial Services Authority)
Best For Best for Min. Spreads & Competitive Leverage Ratios
Year Founded 1998
Minimum Deposit $100
Maximum Leverage 1:500
Tradable Assets Forex, Stocks, Indices, & Commodities

Different authorities have undertaken HYCM’s registration like the FCA (Financial Conduct Authority), CySEC (Cyprus Securities and Exchange Commission), DIFC (Dubai Financial Services Authority), and CIMA (Cayman Islands Monetary Authority); they all have their registration number mentioned at their site. The company has been operating for more than 40 years now and is popular in India.

HYCM - Comes in Top-tier Forex Brokers India

HYCM (Henyep Markets) is best known for its lowest spreads, competitive leverage ratios, and many diverse assets that you can trade. HYCM was established in 1998. An account with an initial deposit of $100 is required. These online brokers have a high degree of leverage trading at 1:500 can turn out to be very profitable or can drown you in a big loss.

HYCM forex broker also offers varied leverage ratios depending on the regulations implemented in the countries where the traders are located. You can use max. leverage to increase your potential profits (and your losses). The ratios differ for each tradable asset. Using instruments available for trading at HYCM, including Forex, indices, stocks, and commodities, and the availability of the Islamic account along with MT4, MT5, & commodity futures support will help traders worldwide.

Although, you can read our HYCM review, which will help you know all the details like forex fees & more about the trading platform & get started with it.

Pros and Cons of HYCM

Pros Cons
Indian residents can get competitive leverage ratios which are regulated through multiple financial bodies. Crypto trading is not available.
You can enjoy rapid withdrawal processes by this forex broker. An inactivity fee applies to forex investors for inactive accounts beyond 90 days.
You can get good customer support in case any issues arise, along with MT4, MT5, & more support via the mobile app.
You can take benefit from the extensive investment management and educational resources available.

Fee Structure

A commission of $4 is charged per round on these forex trades for Raw accounts that offers raw spreads. However, the Swap-free Islamic account does not charge any overnight interest for the first 14 days of opening a position. Thereafter, $5 per night is the charge for each contract. As per broker reviews, HYCM also charges a monthly inactivity fee of $10.

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FXCC is amongst the best trusted forex brokers in India for 2022 & the world if you are interested in trading with this broker. FXCC operates as the brand name of the best forex broker for trading FX Central Clearing Ltd (as per published customer reviews) that it has a headquarters located in Cyprus.

FXCC Features
Regulated By CIF, CySEC, FSA, FCA (Financial Conduct Authority)
Best For Great for Zero Commission Trades
Year Founded 2010
Minimum Deposit It depends on the Account Types
Max. Leverage 1:1 to 1:300
Tradable Assets Offer Currency Pairs, Spot Metals, Indices, Cryptocurrencies, Commodities

FXCC international brokers are authorized by CIF or the Cyprus Investment Firm and registered by both the CySEC, FCA (Financial Conduct Authority), and the FSA (Financial Services Authority). Looking for the best commission free trades? This is best known for its zero-commission trades and diversity of tradable assets and was founded in 2010 that is suitable for Indian citizens as well, which also covers the top financial regulatory body.

You don’t have to pay a commission for international forex trading in India. However, a minimum amount of initial deposit is required for a new account, and depending on the account type, there will be no commissions charged for some account. The official mentions real time execution of spreads for popular instruments, meaning you can get access to it quickly. As for MT4, MT5 lacks MT5 platform support (MetaTrader 5) and also the mobile app.

FXCC - Trusted & Best Forex Broker in India

These online brokers max. leverage ranges for this forex broker account is from 1:1 up to 1:300. Indian forex traders can also take the help of the margin calculator available at broker’s registered websites; using the tool will aid your trading practice.

In these best overall broker traders will get tradable assets such as currency pairs, indices, cryptocurrencies, spot metals, and commodities like WTI and Brent oil for trading. Even supports the Islamic account. However, we have it covered if you want to explore more in detail about the FXCC review platform and its features, forex fees and supported mobile devices.

Pros and Cons of FXCC

Pros Cons
This is a forex broker that allows you to trade in commission-free exchange. Where online brokers allow trade without any commission. US traders will not be accepted. You will not get the service if you are a US resident.
You have the advantage of no minimum deposits when you want to open an account to avoid a high risk of losing money in the beginning stage. Only 1 trading platform is available on the platform – MT4.
ECN spreads are available to use, and the MetaTrader 4 supports via mobile app.

Fee Structure

The FXCC forex broker does not charge any commission on any instrument when forex trading in India. However, per the broker reviews, there is the rollover fee and an inactivity fee that will be charged at the rate of $5 on these dormant accounts that have been inactive for more than 120 days. It also has reasonable forex fees for professional traders, thus creating various trading opportunities.

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Is Forex Trading Legal in India?

Global markets of forex are the largest financial market. Though online trading of currency pairs with Indian brokers is a lucrative option to earn profits, the forex market is one of the most liquid financial markets in the world. Therefore, it may carry high-risk exposure, which may not be suitable for all.

To protect Indian residents or traders from such adverse forex market conditions, the Indian government (also the Reserve Bank of India) has imposed strict regulations for trading currency pairs in the nation. The foreign exchange management act (FEMA act) prohibits non-INR forex pairs trading. The financial regulatory body enforces unsafe online platforms, thus providing the best forex brokers.

The Securities & Exchange Board of India (SEBI) & the regulated broker that accept residents of India and authorized stock exchange can be operated legally under the territory. SEBI registration is a choice for India forex brokers, but most trusted brokers that accept residents of India are registered with SEBI. You have to ensure the legitimacy of the online trading platforms. The trading can be done via NSE, BSE (Bombay Stock Exchange), etc.

The Reserve Bank of India (RBI) is responsible for managing the Indian rupee but is not involved in the oversight of the forex broker. Though Forex trading within Indian exchanges in the nation is permitted, the government and the Reserve Bank of India have restricted online trading of currency pairs done via any electronic or online Forex trading platforms.

Residents of the country are only allowed to conduct forex trading in India at specified Forex trading places with only INR-based currency pairs; it can also offer currencies such as EUR, GBP, USD, CHF (Swiss Franc), CAD (Canadian Dollar) and JPY (Japanese Yen) in the country unless the Indian government makes changes. You can also follow official channels to stay updated with any change in the trading dynamics of the forex market participants and have a great trading experience to get started with your journey with a broker in India 2022.

How to Verify SEBI Regulated Forex Brokers in India?

The first step is to visit the official SEBI website, where you can search for a particular exchange with a trading name & stay updated with the latest changes. Like if you search the Alpari platform, you will get its details mentioned below, including the registration number & validity of the SEBI-regulated forex brokers.

How Do I Trade Forex in India?

Trading forex in India (2022) involves the following process. Here is the list of our recommended steps that will answer how to find the best forex broker from the globe for yourself:-

  • Find a SEBI-regulated broker with an international reach to widen the scope of foreign currency pairs trading in your region that supports currencies in India. You may open a forex trading account with excellent Indian brokers where you can trade. Do check whether the top forex broker supports an Indian bank account.
  • Check for MetaTrader 4 and MetaTrader 5 support, as it’s an added advantage and also online platforms registration number.
  • Due to safety, Indian traders need to verify an account with accurate KYC compliances before trading forex.
  • Make payments with initial funds in INR (Indian Rupee) into the account to activate it like a wire transfer.
  • The beginner should start trading forex with any preferred currency pair against the base currency, such as INR (Indian Rupee) and foreign forex brokers that accept Indian clients. It is a helpful tip for a beginner when diving into the stock market world.

How to Choose Your Best Forex Broker in India 2022?

As a part of our recommendation and answering how to choose your best forex broker, you should consider the following points for choosing the best forex brokers. Indian traders can open a new account with the best broker in India to reap maximum benefits from the stock market. These are the checklist we have prepared for you to find the best forex:-

  • For trading forex, it would be best to always go for the Securities & Exchange Board of India (SEBI) regulated fx brokers in India. It is licensed under specific regulatory bodies to ensure that the India forex brokers are safe and do not have a high risk of losing through scams. In this case, there is a low risk of losing money when dealing with a foreign broker; that’s why trading is getting popular in India.
  • You can trade forex or other assets through national exchanges like the National Stock Exchange (NSE), Bombay Stock Exchange BSE, etc, where they always prefer regulated brokers.
  • You need to check for the level of security provided by the Securities & Exchange Board of India, a regulated foreign exchange broker before you trade forex and see whether they accept Indian clients along with the Indian currency, INR (Indian Rupee).
  • You can also check whether the forex broker provides insurance for the client’s funds if any mischief happens or some of the most common features like free negative balance protection to accept liability in case of insolvencies. Also, before you trade forex, check for supports like MT4, MT5 trading, and more platforms.
  • You must check whether the respective broker platform charges any transaction fees in INR or additional fees, such as inactivity fees, if the accounts remain dormant before you invest your money.
  • You should be checking the various trading platforms like desktop or the mobile trading app offered by the respective broker. If a trader wants flexibility, he can go for the desktop or mob trading app offered by the respective broker for a better trading experience along with MT4, MT5, & more support.


No forex broker can be declared the best forex broker in India or the best overall broker from India for 2022. To choose the best forex trading brokers in India 2022 that offer high liquidity and low margin requirements and rake in profits.

There are many factors, such as the type of investments a forex trader is willing to make, and his threshold of risk-taking capacity needs consideration due to max leverage. It is also variable with the trader’s investment, how much the trader is willing to take a risk appetite and trading strategies, and his expectations of trading gain from best forex trading platforms. FX traders should find the most reliable brokers to trade with—FX broker in India 2022 that support local currency and provide maximum benefit to Indian traders.

However, choosing the wrong trading strategy to trade forex will result in choosing the wrong Indian forex broker, which can be proven to be very expensive. Here is some solid investment advice; Indian traders should decide upon their research strategies before choosing one of the best forex brokers India has & choose popular platforms like MetaTrader 4 and 5.

Indian citizens or not, they can also choose from a list of available international forex brokers before they can start trading with a broker in 2022 (claiming as the best broker) instead of blindly following the trend. Choosing the award-winning provides low trading costs, vital educational resources, a great trading experience, and seamless trading access to the global interbank system.


Which Forex Broker Charges the Lowest Fees in India?

It is based on your trading strategy followed by a trader in the financial market. FXCC is among the best brokers offering zero commission to new traders.

Are There Any Legal Forex Brokers in India?

All SEBI (the securities and exchange board of India) forex brokers or The Securities and Exchange Board of India (SEBI) regulated forex brokers that are considered the best forex brokers from India conducting legal currency pairs trading services India. You must ensure the right forex broker practices align with the regulations.

Is Forex Trading Legal in India?

Yes, international forex trading is legal in India but is subjected to the strict regulatory procedures imposed by the government. The same should be reflected in your best trading strategy when you want to trade in the financial market.

Is Forex Trading Tax-Free in India?

No, as for now, forex trading is not free for anyone. Mostly it’s charged as GST.

Which Broker Has the Highest Leverage in India?

As per our reviewed platform FBS has the highest leverage for its supported accounts. So make your trading strategies accordingly.

Which Is Safest Forex Broker in India? can be considered the safest and most regulated platform for Indian users.

Which Forex Broker Is Best for Indian Traders?

As per our research, we can say all the platforms with tons of tools, various resources, and of course, which are regulated, can be considered the best broker.

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