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

The 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 are getting benefits from any other currency trading. The 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.

About Forex Broker in India

If you are wondering what is forex trading? Then, the answer is unlike trade stocks, where you can trade directly in any metropolitan stock exchange or stock market without the involvement of any middleman; forex trading clients need a foreign exchange (forex) broker to get entry into the forex market.

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. Dealing desk brokers and non dealing desk brokers are two types of brokers.

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.

However, users must try to opt for award winning forex broker, which is authorized by the Reserve Bank of India (RBI) & broker regulated through SEBI, to have a great experience. India as SEBI is the official organization responsible for issuing the license for India forex brokers and setting up the rules and regulations that govern Indian financial services companies.

The National Stock Exchange (NSE) is India’s stock exchange. If you wish to learn more about the best forex broker platforms to trade in forex and accept clients from India, then read further the content of this page that we have projected.

Best Forex Brokers in India

  1. OctaFX:- Ideal for Beginners
  2. Olymp Trade:- Ideal for a Wide Range of Tradable Instruments
  3. FXTM:- Ideal for Copy Trading and Social Trading Feature
  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 Low Spreads
  9. HYCM:- Ideal for Low Spreads & Competitive Leverage Ratios
  10. FXCC:- Ideal for Zero Commission Trades

Top Forex Brokers India Comparison in Details

Your hunt for the list of 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 traders. 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 Beginners
Year Founded 2011
Minimum Deposit $25
Maximum Leverage 500:1 (MT4 & cTrader); 200:1 (MT5); 200:1 (Metals); 50:1 (Stock Market Indices); 1:25 (Cryptocurrencies)
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.

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 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 & fees.

OctaFX broker is regulated & offers the following tradable instruments to invest in a 35 foreign exchange (currency) pairs, including the most common USD/JPY, GBP/USD, and EUR/USD, leading CFD indices like NASDAQ and US30, leading cryptocurrencies – Bitcoin, Litecoin, and Ethereum, then Gold, Silver, Crude oil and Brent oil as real-time commodities which accept clients from India.

Pros and Cons of OctaFX

Pros Cons
right The broker offers commission-free trading in India. You have funding options that are limited in comparison to the other top 10 forex brokers in India 2022.
right Supports its own proprietary trading platform on the mobile app along with 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.

Sign Up Now

Olymp Trade

Olymp Trade is amongst the regulated forex brokers in India, having over 25,000 active clients registered on its platform. The easy-to-use interface, responsive customer service, 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 Great for a Wide Range of Tradable Instruments
Year Founded 2014
Minimum Deposit $10 or €10
Maximum Leverage 1:400
Tradable Assets Stocks, ETFs, Currencies, Commodities, 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 card payment and bank wire transfer (from local banks), free demo account, and a wide range of tradable instruments and currency derivatives provided by these brokers that accept clients from India.

Olymp Trade - Top Forex Trading Brokers in India

Olymp Trade 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, etc., it supports the MT4 platform (MetaTrader 4). The minimum initial deposit required to start forex trading on the platform is €/$10. Major forex pairs are the EUR/USD has leverage which is up to 1:30, whereas the minor pairs can expect leverage is up to 1:200. Max leverage can go up to 1:400. However, if you want to explore more in detail about the Olymp trade review platform and its features, 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, 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.
right Multiple payment options, forex trades, including wire transfer.
right Wide choice of 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. There are no custodial fees or maintenance fees on any forex trading account charged as such, a low trading commission, but 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.

Sign Up Now


FXTM or ForexTime Limited is a popular foreign exchange among most people; this 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, social trading, copy trading options, stock trading & more; this broker offers a vast market to forex investors as its presence is well known worldwide.

FXTM Features

Regulated By CySec, FCA, FSC
Best For Preferred for Copy Trading and Social Trading Feature
Year Founded 2011
Minimum Deposit Varies With Account Types
Maximum Leverage 1:30
Tradable Assets Trade CFDs for Conventional Indices, Forex, Commodities, Shares CFDs, Spot Metals, Foreign Exchange Indices, 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, along with its wide options of tradable currency pairs compared to other trading platforms. It also provides video tutorials, seminars, 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 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 clients can trade in CFDs for conventional indices, Forex, and commodities like NASDAQ, DAX, and FTSE; 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 is a forex broker that has also launched around 11 new dynamic indices split across almost 6 foreign exchange 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 with bank account withdrawals via bank transfers.
right It can be safe to say that tight regulation by 3 leading regulatory bodies helps in ensuring safety. The FSC regulated brokers charge inactivity fees to the forex trader.
right You have the privilege of excellent customer service 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., support.

Fee Structure

Become aware of 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 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, for standard account types, the spread may be a little higher but competitive. Even experienced traders trading accounts lose money when trading CFDs with the provider or other forex brokers.

Sign Up Now


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 company, Formula Investment House Ltd. The platform accepts clients from across 100+ countries in the world (these are the region including Greece, India, the Philippines, and Venezuela) and with over operations in 16+ different 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
Maximum Leverage 400:1 (Forex or Commodities); 200:1 (CFD)
Tradable Assets Shares, ETFs, Indices, Commodities, & Cryptocurrencies

iForex’s parent 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 is best known for its easy user interface, variety of tradable assets, 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 to support any of your daily queries. This proprietary platform accepts clients from every corner & boasts of providing a wide range of tradable assets, including shares, ETFs, indices, real time stats of commodities, and cryptocurrencies like Bitcoin, Ripple, and Ethereum, but no MT4, MT5, etc. support. The deposit options available are 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 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, it can be time taking to receive your funds.
right The responsive customer support team for you and support for different languages. 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 trading. 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 when trading CFDs with the web based trading platform.

Sign Up Now


FBS is one of the leading global online CFD, and it belongs to some of the Securities and Exchange Board of India (SEBI) regulated forex brokers, accepting clients from across geographical borders like Malaysia, Indonesia, Pakistan, South Africa, and the EU via two types trading platforms like 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
Maximum Leverage 1000:1 (Cent Account Types); 500:1 (ECN Account Types); 3000:1 (All Account Types)
Tradable Assets Stocks, Forex, Precious Metals, Energies, Indices, Cryptocurrencies

FBS is amongst the top forex brokers in India 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 trading 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 trading with FBS is $1. 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 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 trading accounts lose money when trading CFDs. CFD trading carries 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.
It can be possible to integrate MetaTrader 5 (MT5) and MetaTrader 4 (MT4) trading platforms together.

Fee Structure

This international broker charges an overnight rollover fee which is swap-free chargeable on the FBS platform, along with a cancellation fee at the rate 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.

Sign Up Now


XM is a group of next-generation online forex 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 Low Spreads
Year Founded 2009
Minimum Deposit $5 or €5 or £5
Maximum Leverage 888:1
Tradable Assets Forex, Stocks CFD, Equity Indices CFDs, Commodities CFDs, Energies CFDs, & Precious Metals CFDs

The XM group has been operating under the parent company with multiple brands, and each brand is regulated via different regulatory bodies. For instance, all Trading Point of Financial Instruments is controlled by CySec, while the ASIC 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. It also has MT4, MT5, & more platform support.

XM - One of the SEBI Registered Forex Brokers

XM, International brokers, is best known for providing a wide range of forex markets at very low spreads. 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 $/€/£, and max leverage depends on the instrument traded and is between 1:1 to 888:1. 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 carry a high risk of investment associated with them, along with a high risk of losing money. Even Institutional traders lose money when trading CFDs. You should always prefer forex trading in India with SEBI regulated forex brokers.

You should consider how much risk you are willing to take since investor accounts lose money while they trade CFDs. However, check out our honest XM review to know more about the trading platform.

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 fees as such, and spreads depend on this the forex account types. The minimum spread is 0.10 pips which is reasonable as compared to many brokers like FP markets that are present in the market.

Sign Up Now


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, Forex Pairs, Global Equity Indices, & Commodities Like Gold, Silver, Natural Gas, and Crude Oil

This broker 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, low spreads, and negative balance protection features that Alpari offers automated trading tools. As CFDs carry high risks due to leverage which may not be suitable for all investors and is often susceptible to losing money rapidly. Negative balance protection protects Indian clients against the financial market changes against their current trade so that their accounts don’t fall into a negative balance.

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. The max leverage ranges from 400:1 (for MT4 MicroAccount) and 1000:1 (for ECN and Standard MT4 trading account – MetaTrader 4); thus, MetaTrader 4 and 5 support plays a vital role. This website will not accept liability for any damage as a result of your trading activity. Learn more about the platform in our Alpari review and the list of its features and tools.

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

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 MetaTrader 4 (MT4) trading platforms accounts. 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.

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, FSA, CIMA, CySEC, NFA, SEC
Best For Best for Diverse Financial Instruments & Low Spreads
Year Founded 1999
Minimum Deposit $100 or €100 or £100
Maximum Leverage 50:1
Tradable Assets Stocks, Indices, Forex, Commodities, & Cryptocurrencies

Like most other the Securities and Exchange Board of India, SEBI 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, CIMA (Cayman Islands Monetary Authority), CySEC (Cyprus Securities and Exchange Commission), NFA, SEC (Securities and exchange board), etc.

You can trade through exchanges like the National Stock Exchange (NSE). The platform is also registered with the commodity futures trading commission. is one of the best known for its diverse tradable financial instruments and trading tools which traders of India residents can make use of, and low spreads. There are more than 40 different currency pairs available. It 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. To find out the applicable max leverage ratio and other financial services provided by the platform, customers need to log into the company’s authorized and registered website, and you can use the margin calculator to find the exact ratio. However, read the review and learn more about the platform’s services, and get started with it. Note: Before you take trading decisions, be aware that many trading accounts lose money when trading CFDs.

Pros and Cons of

Pros Cons
Registration under multiple jurisdictions. 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

There are four distinct pricing methods available in this forex broker depending on the trading account types. Spread as low as 0.1. There is also a monthly inactivity fee of $15 in its trading account.

Sign Up Now


HYCM (Henyep Markets) is the international CFD, and The Securities and Exchange Board of India (SEBI) regulated forex broker operating under its parent company, the Henyep Capital Markets Holdings Group, that has offices in this diverse locations like the UK, Dubai, 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 company, but as distinct entities, they are registered by distinct regulatory bodies for financial services in the country.

HYCM Features

Regulated By FCA, CySEC, CIMA, DIFC (Dubai Financial Services Authority)
Best For Best for Low Spreads & Competitive Leverage Ratios
Year Founded 1998
Minimum Deposit $100
Maximum Leverage 1:500
Tradable Assets Forex, Indices, Stocks, & 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). The company has been operating for more than 40 years now.

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. The high degree of leverage 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 make the use of max leverage to increase your potential profits (and your losses). The ratios differ for each tradable asset. The use of 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, and this will help you to know all the details regarding the trading platform. You should always opt for forex trading in India with SEBI regulated forex brokers. The content of this forex broker website should not be perceived as advice.

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 of any issues to arise, along with MT4, MT5, & more support via the mobile app as well.
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. HYCM also charges a monthly inactivity fee of $10.

Sign Up Now


FXCC is amongst the best trusted forex brokers in India (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, FCA
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 and the FCA. 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.

You don’t have to pay a commission for international forex trading in India. However, there is a minimum amount of initial deposit 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 real quick. As for MT4, MT5 lacks MT5 platform support (MetaTrader 5).

FXCC - Trusted & Best Forex Broker in India

The max leverage ranges for this forex broker 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. Traders will be getting 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, if you want to explore more in detail about the FXCC review platform and its features, we have it covered.

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 – MetaTrader 4 (MT4) that you can use.
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. However, there is the rollover fee as well as 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.

Sign Up Now

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 FEMA act prohibits non-INR forex pairs trading, and the regulatory body ensures the enforcement.

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. Under the Foreign Exchange Management Act, other organizations are also involved in setting up the rules and regulations for the international broker operating in the foreign exchange market to benefit professional traders from any mischief.

Though Forex trading within Indian exchanges in the nation is permitted, the government, along with the Reserve Bank of India, has 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, and JPY (Japanese Yen) in the country unless the Indian government makes changes.

It restricts any foreign broker from trading international currency pairs because most international or foreign broker transactions are conducted online. Here is a piece of investment advice for every trader: abide by the regulations imposed by the government of the respective country to keep your money safe. With SEBI regulated forex brokers, trading forex for the Indian citizens can keep them away from potential scams, and one of the reasons it’s getting popular in India. You can also follow official channels to stay updated with any change in the trading dynamics of the forex market and get started with your journey.

CFDs are complex instruments, and the content of this website is not a piece of investment advice and maybe not be suitable for all investors. Due to max leverage, retail accounts of retail investors lose money. To analyze if you can afford a high risk appetite to lose money before trading forex with an international forex broker to avoid accounts losing money due to max leverage. We provide a list of all the foreign forex brokers to trade in India, regulated via SEBI in the market.

Always consider instruments or any other advanced tools indicating the lowest spreads, which will get you a minimum threat with low risk. Always ensure your risk-taking ability and how much you can afford to lose, as retail investor accounts have a high risk of losing money rapidly due to leverage.

Online brokers always inform you that there is a risk of loss associated with the foreign exchange market. One should plan the strategy accordingly, as many retail accounts lose money. It is said that around 64-87% of retail CFD accounts lose money due to trading in the financial market. Try gathering information regarding how CFDs work for residents of India and stay updated with the current trend and latest best forex brokers India platform.

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 broker from the globe for yourself:-

  • Find a SEBI regulated broker with an international reach to widen the scope in foreign currency pairs trading in your region that supports currencies in India and 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.
  • 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.
  • 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 if you are a beginner.

Before you decide to trade forex, analyze your investment objectives, the broker’s withdrawal fees, and a list of advanced tools made available, platforms like MT4, MT5, & more support, and access to other financial instruments. All these features make trading forex popular in India and help you choose the best forex brokers India.

The local bank wire transfers support; ease of depositing money and offer the best customer service through different social media channels. It offers currency pairs like CHF (Swiss Franc), Canadian Dollar (CAD), Australian Dollar (AUD), and Japanese Yen (JPY) with Indian rupees (INR), which you wish to trade forex. The best overall broker has access to demo accounts for Indian residents before they start making trading decisions with base currency in the live account. Even central banks play a key role in terms of fixing prices, market exchange rates, etc.

How to Choose Your Best Forex Broker in India?

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. These are the checklist we have prepared for you:-

  • For trading forex it would be best to always go for the Securities & Exchange Board of India (SEBI) regulated forex 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. The risk of losing money is low in this type of case.
  • You can trade forex or other assets through national exchanges like the National Stock Exchange (NSE), Bombay Stock Exchange BSE, etc.
  • You need to check for the level of security provided by the Securities & Exchange Board of India SEBI regulated foreign exchange broker and see whether they accept Indian clients along with the Indian currency, INR (Indian Rupee). 
  • Your next step will be to list the international forex brokers that list India as a country they accept new customers from. Check the registration number from the disclosure text at the bottom of the homepage.
  • 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.
  • You have to check whether the respective platform charges any transaction fees in INR or any additional fees like inactivity fees if the accounts remain dormant before you invest your money.
  • You should consider and check the broker’s fixed-time trading strategy and the level of spread, max leverage, and margin provided by the broker offered by trading platforms.
  • You need to check whether there are any limitations of their terms that restrict you from withdrawing or initial deposits like account minimums or maximums to be met by Indian traders and investors before they can withdraw their profits out of the market.
  • 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 mobile trading app offered by the respective broker for a better trading experience along with MT4, MT5, & more support.
  • You have to check whether there is an efficient and high level of customer support of their portal, such as the availability of multiple languages to address clients’ issues. It can be solved when they arise. As retail investors, you can start trading with regulated brokers overseen by the financial regulatory body and can find the best broker available.

Forex traders from the country should also follow the trading strategies and investment strategies of an experienced trader to learn various ways of earning high returns in international forex trading due to the volatile nature of the financial market. Any extreme economic or political news has the potential to create high volatility.

Choose India forex brokers online platforms based on your trading requirements that provide the lowest minimum deposit with available deposit options. It should support local currency to avoid conversion fees, give Indian traders the best customer support, and trade via mobile devices to enhance the trading experience. Although, If you want to explore more, browse our list of best forex brokers and get details on various platforms.


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 forex trading platforms. FX traders should find the most reliable brokers to trade with—FX broker in India that support local currency and provide maximum benefit to Indian traders.

However, choosing the wrong trading strategy 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.

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 resources, and seamless trading access to the global interbank system.

Before deciding to trade in a financial instrument, your investment objectives should be clear; you should consider whether you understand how the CFDs operate and be fully informed of online trading risks you can afford to lose. Take risks associated with it and costs related to trading with the financial markets.

Apart from international forex, you can trade in stocks, commodities, metals, and other options provided by the best trading platforms of your choice. Based on your strategy, you need to decide. It is also advised to trade with your money that you can afford to lose since CFDs may not be suitable for all investors as retail CFD accounts lose money.

This website will not accept liability for any loss due to your money trading as a part of retail investment when you invest your money. This page provides our extensive directory of international forex brokers based on attributes that we believe are while online trading, and this website is not a piece of investment advice.


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 need to ensure the right forex broker practices are aligned 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.

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.

Back to top button