10 Best Forex Brokers in India

 

The 10 best Forex brokers in India have been revealed. We have explored and tested several prominent brokers to identify the 10 best brokers.

 

India Forex Brokers Compared – Side by Side*

 

 

Here is a Breakdown of Topics covered in this comprehensive guide:

 

• A Detailed Ranking of the 10 Best Forex Brokers in India
• Pros and Cons of Forex Trading
• Forex Trading in India – Quick Overview

 

and much, MUCH more!

 

The 10 Leading Forex Brokers in India’s Standout Feature.

 

 

Now let’s deep dive into each broker that made the list…

 

10 Best Forex Brokers in India (2025)

 

• AvaTrade – Top Broker in India, known for its competitive trading fees.
• IG – World-leading online trading provider.
• FP Markets – Evolutionary fleet of trading platforms
• FXCM – Diverse range of tradable assets
• BlackBull Markets – Leading platforms like MT4, MT 5, cTrader, and TradingView
• Pepperstone – Super-tight spreads and Fast and reliable execution
• Eightcap – Seamless, high-speed trading
• IC Markets – Significant emphasis on technology and innovation
• Exness – Prioritizes security with separate client accounts

 

Top 10 Forex Brokers (Globally)

 

 

1. AvaTrade

 

★★★★★

Minimum Deposit: $100 Regulated by: CBI, BVI, FSC, ASIC, FSCA, JFSA, FFAJ Crypto: Yes

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While AvaTrade doesn’t currently hold local regulation in India (e.g., from SEBI), it does accept Indian traders, offering a comprehensive trading environment with access to forex, stocks, indices, commodities, and cryptocurrencies.

 

 

Frequently Asked Questions

 

Can Indian traders open an account with AvaTrade?

Yes, Indian traders can open an account with AvaTrade. While AvaTrade is not regulated by SEBI (India’s local regulator), it accepts clients from India and offers a wide range of instruments, platforms (MT4/MT5), and customer support.

 

Does AvaTrade offer an Islamic account?

Yes, AvaTrade offers Islamic (swap-free) accounts designed to comply with Sharia law. These accounts typically waive overnight swap fees. However, it’s important to note that trades held open for more than five days may incur administrative fees in place of swaps.

 

Pros and Cons

 

 

★★★★★

Minimum Deposit: $100 Regulated by: CBI, BVI, FSC, ASIC, FSCA, JFSA, FFAJ Crypto: Yes

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Our Insights

AvaTrade has earned global recognition and strong regulation as a forex and CFD broker, providing a user-friendly experience for both beginners and experienced traders. With a low minimum deposit, commission-free trading, and a variety of trading platforms like MetaTrader 4/5 and AvaTradeGO, it provides a solid foundation for those entering the world of online trading.

 

Final Score

 

 

2. IG

 

★★★

Minimum Deposit: $250 Regulated by: FCA, ASIC, CFTC, NFA, BaFin Crypto: Yes

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While IG doesn’t currently hold a SEBI license or have local offices in India, it accepts Indian traders through its internationally regulated entities (e.g., by FCA, ASIC, NFA). Indian users can register an account, fund it in USD or EUR (INR base accounts aren’t supported), and access IG’s web and mobile platforms, including their proprietary platform and MetaTrader 4.

 

 

Frequently Asked Questions

 

What platforms does IG offer?

IG offers a diverse range of trading platforms. Their proprietary IG Trading Platform is highly-regarded and available on the web and mobile. They also support the popular MetaTrader 4 (MT4), alongside specialized platforms like ProRealTime (for advanced charting) and L2 Dealer.

 

Does IG offer a demo account?

Yes, IG offers a free demo account. It allows users to practice trading with virtual funds (typically £10,000 or equivalent) on a wide range of markets using their proprietary platform and other integrated tools like ProRealTime.

 

Pros and Cons

 

 

★★★

Minimum Deposit: $250 Regulated by: FCA, ASIC, CFTC, NFA, BaFin Crypto: Yes

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Our Insights

IG stands out as a highly reputable and long-standing global forex and CFD broker, recognized for its robust regulation, comprehensive trading tools, and extensive educational support. It’s an excellent choice for traders seeking a diverse range of markets and a trusted trading environment.

 

Final Score

 

 

3. Interactive Brokers

 

★★★★

Minimum Deposit: $0 Regulated by: SEC, FINRA, FCA, ASIC Crypto: No

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Interactive Brokers (IBKR) is a globally recognized, multi-asset brokerage firm founded in 1978 and headquartered in the U.S. It offers access to over 150 markets worldwide, covering stocks, forex, options, futures, and more. Renowned for its low-cost structure and advanced trading platforms, IBKR is widely used by professional and institutional traders.

 

 

Frequently Asked Questions

 

Does Interactive Brokers offer leverage?

Yes, Interactive Brokers offers leverage across various asset classes, including forex, stocks, and futures. The specific leverage available varies by product, regulatory jurisdiction, and account type. IBKR offers competitive margin rates, appealing to active and professional traders.

 

What trading platforms are available?

Interactive Brokers (IBKR) offers a comprehensive suite of trading platforms. Their flagship is the Trader Workstation (TWS), a powerful desktop platform for advanced traders. They also provide the user-friendly Client Portal (web-based), IBKR Mobile (for on-the-go trading), and IBKR GlobalTrader.

 

Pros and Cons

 

 

★★★★

Minimum Deposit: $0 Regulated by: SEC, FINRA, FCA, ASIC Crypto: No

Get startedRead Review

 

Our Insights

Interactive Brokers (IBKR) is a top-tier choice for Indian and global traders who need professional-grade tools, broad market access, and low trading costs. Interactive Brokers maintains high regulation, enjoys global trust, and supports trading in both local and international markets, including the NSE/BSE for Indian residents.

 

Final Score

 

 

4. FP Markets

 

★★★★★

Minimum Deposit: $100 Regulated by: ASIC, CySEC, FSCA, FSA, FSC, CMA Crypto: Yes

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Indian traders can access various platforms offered by FP Markets, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and TradingView, on desktop, web, and mobile. The minimum deposit for Standard and Raw MT4/MT5 accounts is typically AUD 100 (or equivalent). While FP Markets does accept INR for deposits, Indian clients will generally have their trading accounts denominated in USD or EUR.

 

 

Frequently Asked Questions

 

What platforms are available?

FP Markets offers several trading platforms, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5), cTrader, TradingView, Iress, and WebTrader. They also provide a dedicated mobile app for on-the-go trading.

 

Is copy trading available?

Yes, FP Markets offers copy trading, which they refer to as “Social Trading.” It allows you to follow and automatically copy the trades of successful traders through their MetaTrader 4 and MetaTrader 5 platforms. They also integrate with Myfxbook AutoTrade and cTrader Copy.

 

Pros and Cons

 

 

★★★★★

Minimum Deposit: $100 Regulated by: ASIC, CySEC, FSCA, FSA, FSC, CMA Crypto: Yes

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Our Insights

FP Markets stands out as a reliable and comprehensive brokerage option, particularly for those seeking a broad range of assets, competitive pricing, and a choice of robust trading platforms, all backed by strong regulatory oversight and customer support.

 

Final Score

 

 

5. FXCM

 

★★★★

Minimum Deposit: $50 Regulated by: FCA, ASIC, CySEC, FSCA Crypto: Yes

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FXCM, founded in 1999 and headquartered in London, is a globally recognized forex and CFD broker regulated by top-tier authorities like the FCA (UK, 217689), ASIC (Australia, 309763), and FSCA (South Africa, 46534), but not by SEBI in India.

 

 

Frequently Asked Questions

 

Is there a demo account?

Yes, FXCM offers free demo accounts. These accounts provide virtual funds (e.g., $20,000 or more) and simulate live market conditions across platforms like Trading Station, MetaTrader 4 (MT4), and TradingView, allowing users to practice trading strategies risk-free.

 

What platforms are available?

FXCM provides a variety of platforms, including their proprietary Trading Station (desktop, web, mobile), MetaTrader 4 (MT4), and direct integration with TradingView. They also offer Capitalise.ai for automated trading without coding and several specialty platforms.

 

Pros and Cons

 

 

★★★★

Minimum Deposit: $50 Regulated by: FCA, ASIC, CySEC, FSCA Crypto: Yes

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Our Insights

FXCM is a highly reputable broker that excels in providing a secure, feature-rich, and technologically advanced trading experience. Its strong regulatory standing, diverse platform options, and emphasis on trading tools and education make it a strong choice for both new and experienced forex and CFD traders.

 

Final Score

 

 

6. BlackBull Markets

 

★★★★

Minimum Deposit: $0 Regulated by: FMA Crypto: Yes

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BlackBull Markets accepts Indian clients, offering access to its full range of services, including Islamic (swap-free) accounts compliant with Sharia law. However, it is not regulated by SEBI, and Indian traders must use offshore entities, which may not comply with SEBI’s restrictions on forex trading to INR-based pairs (e.g., USD/INR) and leverage caps at 1:50 for regulated brokers.

 

 

Frequently Asked Questions

 

Are there swap-free accounts?

Yes, BlackBull Markets offers Swap-Free accounts, also known as Islamic accounts. These accounts are designed to exempt users from swap or interest charges on overnight positions, adhering to Sharia law principles. They are available across their ECN Standard, Prime, and Institutional account types.

 

Is copy trading available?

Yes, BlackBull Markets offers several copy trading solutions. They have their own proprietary “BlackBull CopyTrader” platform, allowing users to copy successful traders. Additionally, they integrate with popular social trading platforms like ZuluTrade and Myfxbook AutoTrade.

 

Pros and Cons

 

 

★★★★

Minimum Deposit: $0 Regulated by: FMA Crypto: Yes

Get startedRead Review

 

Our Insights

BlackBull Markets stands out as a strong choice for traders seeking an ECN broker with competitive pricing, a broad selection of trading instruments, diverse platform options, and a commitment to fast execution. Its appeal extends from beginners, who can utilize its educational resources and Standard account, to experienced and high-volume traders who can benefit from its Prime and Institutional accounts and advanced tools.

 

Final Score

 

 

7. Pepperstone

 

★★★★★

Minimum Deposit: $200 Regulated by: ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB Crypto: Yes

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Pepperstone does not have a SEBI license in India, so it operates offshore, primarily serving Indian clients through its global entities. Indian traders are permitted to open accounts with brokers, but they must comply with RBI regulations that restrict forex trading to INR-paired currency only (e.g., USD/INR). Consequently, most Indian traders engage in forex with international currency pairs through non-INR accounts, typically with brokers regulated outside India.

 

 

Frequently Asked Questions

 

What trading platforms does Pepperstone offer?

Pepperstone offers a robust selection of trading platforms, including their own Pepperstone platform (web and mobile app), MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and direct integration with TradingView. This variety caters to diverse trading strategies and preferences.

 

Does Pepperstone offer demo accounts?

Yes, Pepperstone provides demo accounts, allowing traders to practice with virtual funds under real market conditions. You can open up to five demo accounts for MT4, MT5, cTrader, and TradingView, typically expiring after 60 days unless you have a live, funded account.

 

Pros and Cons

 

 

★★★★★

Minimum Deposit: $200 Regulated by: ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB Crypto: Yes

Get startedRead Review

 

Our Insights

For Indian traders, Pepperstone is available but operates as an offshore broker, meaning it’s not regulated by SEBI and doesn’t support direct INR trading. This implies a lack of local regulatory protection. However, its transparent fees, negative balance protection, and strong global reputation still make it a reliable option for experienced traders comfortable with international platforms.

 

Final Score

 

 

8. Eightcap

 

★★★★

Minimum Deposit: $100 Regulated by: ASIC, FCA, CySEC, SCB Crypto: Yes

Get startedRead Review

 

Eightcap provides Indian traders with access to a wide range of trading instruments, various platforms, and competitive spreads. While it operates through offshore entities and isn’t SEBI-regulated, it maintains strong international regulatory oversight. Additionally, it offers crucial features like negative balance protection and, for certain regulated entities, investor compensation schemes, providing a level of security for traders comfortable with international brokers.

 

 

Frequently Asked Questions

 

Can Indian traders use Eightcap?

Yes, Indian traders can use Eightcap. They can open accounts and access its trading instruments and platforms. However, Eightcap operates offshore and isn’t regulated by SEBI, meaning it lacks direct local regulatory protection and doesn’t support INR trading.

 

What platforms are available for trading?

Eightcap provides traders with a strong selection of platforms, primarily MetaTrader 4 (MT4) and MetaTrader 5 (MT5). They also offer direct integration with TradingView for advanced charting and a WebTrader for browser-based access.

 

Pros and Cons

 

 

★★★★

Minimum Deposit: $100 Regulated by: ASIC, FCA, CySEC, SCB Crypto: Yes

Get startedRead Review

 

Our Insights

Eightcap is a strong choice for traders who prioritize low costs, fast execution, and advanced platform options like MT4, MT5, and TradingView. While it isn’t SEBI-registered for Indian traders, it upholds robust global regulatory standards and offers a reliable trading environment for those comfortable with international brokers.

 

Final Score

 

 

9. IC Markets

 

★★★

Minimum Deposit: $200 Regulated by: FSA Crypto: Yes

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C Markets gives Indian traders access to a wide range of instruments, platforms, and solid customer support. Although it operates via offshore entities and isn’t SEBI-regulated, it maintains strong international regulatory oversight. Plus, it offers features like negative balance protection and, in some cases, investor compensation schemes.

 

 

Frequently Asked Questions

 

What platforms does IC Markets offer?

IC Markets provides a comprehensive range of trading platforms, including the popular MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. They also offer direct integration with TradingView for advanced charting and analysis.

 

What types of accounts are available?

IC Markets provides three main live account types: the Standard Account (MetaTrader) with commission-free trading, and two Raw Spread Accounts (MetaTrader and cTrader) which offer raw spreads from 0.0 pips plus a commission. Islamic/Swap-Free accounts are also available.

 

Pros and Cons

 

 

★★★

Minimum Deposit: $200 Regulated by: FSA Crypto: Yes

Get startedRead Review

 

Our Insights

IC Markets is a globally regulated and well-established broker, prized for its tight spreads, fast execution, and vast array of trading instruments. With flexible account types and popular platforms like MT4, MT5, and cTrader, it’s an excellent choice for all traders, especially those into algorithmic or high-frequency trading.

 

Final Score

 

 

10. Exness

 

★★★★★

Minimum Deposit: $1 Regulated by: CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA Crypto: Yes

Get startedRead Review

 

Exness offers Indian traders various instruments, competitive spreads, and user-friendly platforms. However, since it lacks SEBI regulation, Indian traders should proceed cautiously, understanding the inherent legal and financial risks of using an offshore broker. Consulting a financial advisor before trading with international brokers is always recommended.

 

 

Frequently Asked Questions

 

What platforms does Exness offer?

Exness offers its proprietary platforms, Exness Trade (mobile app) and Exness Terminal (web-based). They also support the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, along with MetaTrader WebTerminal and MultiTerminal for MT4.

 

What types of accounts are available?

Exness offers both Standard and Professional account types. Standard accounts include Standard Cent and Standard, suitable for beginners. Professional accounts, like Pro, Raw Spread, and Zero, cater to experienced traders seeking tighter spreads or specific execution models.

 

Pros and Cons

 

 

★★★★★

Minimum Deposit: $1 Regulated by: CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA Crypto: Yes

Get startedRead Review

 

Our Insights

Exness is a solid option for Indian traders seeking low costs, fast execution, and easy accessibility. Despite not being SEBI-regulated and lacking local offices, its user-friendly platform, INR deposit options, and high leverage make it attractive for both new and seasoned traders.

 

Final Score

 

 

 

Forex Trading in India – Quick Overview

Forex trading in India involves buying and selling currency pairs to profit from exchange rate fluctuations. It is legal but tightly regulated by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI).

 

 

Frequently Asked Questions

 

Is forex trading legal in India?

Yes, forex trading is legal in India, but with strict restrictions. Indian residents can only trade INR-paired currency derivatives on SEBI-regulated exchanges. Trading with international brokers or in non-INR currency pairs directly is generally prohibited and carries legal and financial risks.

 

What currency pairs can I trade legally in India?

In India, you can legally trade currency pairs involving the Indian Rupee (INR) through SEBI-regulated exchanges. These include USD/INR, EUR/INR, GBP/INR, and JPY/INR. Additionally, SEBI has recently allowed trading in select cross-currency pairs like EUR/USD, GBP/USD, and USD/JPY via these regulated exchanges.

 

Pros and Cons

 

Our Insights

For beginners in India, forex trading through SEBI-regulated brokers offers a secure and compliant entry point. Focusing on INR-based currency pairs on exchanges like NSE and BSE provides a transparent way to gain exposure to currency markets. This approach significantly lowers risk, ensuring a legal and safe trading experience.

 

 

In Conclusion

Trading forex in India is safe and legal when you use SEBI-regulated brokers, but it comes with strict limitations. This makes it a solid starting point for cautious beginners, though experienced traders seeking broader market access and 24/5 flexibility might find it restrictive.

 

You Might also Like:

 

• Avatrade Review
• IG Review
• Interactive Brokers Review
• FP Markets Review
• FXCM Review
• Blackbull Markets Review
• Pepperstone Review
• EightCap Review
• IC Markets Review
• Exness Review