Top Forex Brokers in India for FX Trading

India FlagIndia has recently been seeing a fair bit of growth regarding forex trading, but this brings into the picture some questions regarding the legitimacy and legal approaches to the trading market in the country.

Even though so many doubts exist, several forex brokers have already established themselves and started to provide efficient services in India.

Below is a list containing the names and short yet to the point descriptions of some of the best forex trading brokers in India, along with a bit of information about the services provided.

Ranking Forex Broker Regulation Min. Deposit Max. Leverage Min. Spread Review
1
IC Markets
ASIC
$200
500:1
1.1 pips
2
IQ Option
CySec
$10
500:1
0.5 pips
3
easyMarkets
CySec, ASIC
$100
400:1
1 pip
4
Plus500
FCA, CySec, ASIC
$100
300:1
0.6 pips
5
tradefred
CySec, ASIC
$250
500:1
0.8 pips
6
XM
FCA
$5
500:1
0 pip
7
LMFX
n/a
$50
1000:1
0 pip
8
LMFX
ASIC, FCA, CySec
$250
400:1
0.4 pips
9
eToro
FCA, CySec
$200
400:1
3 pips
10
BDSwiss
FCA, CySec, MiFID, BaFin
$200
400:1
1.3 pips

eToro

eToro follow the taglineeToro Main Page “Your Social Trading Network”, which we believe suits them pretty well. Following are some of the most noteworthy features they offer to their customers:

  • Excellent and user-friendly Social Trading platform.
  • Leverage as high as 400:1.
  • The spreads begin with as little as three pips.
  • Minimum deposit of only $50.
  • 24-hour customer support always at your disposal.

LiteForex

LiteForex Main PageLiteForex is yet another efficient forex trading broker establishing itself in India only recently and doing pretty well. Following is a list of the features they provide:

  • Very less minimum deposit requirement.
  • Traders get some trading tools to take advantage of.
  • Customers can get individual instant account deposits.
  • Accounts such as multicurrency and swap-free can be claimed.
  • 24/5 customer service.
  • Various contests and bonus loyalty programs to take advantage of.
  • Trading accounts with floating or fixed spreads.

FXCM

FXCM Main PageFXCM is one of the most prominent Forex brokers with branches all across the world and is also competing with various other leading brokers out there. It is also listed on NASDAQ, and provides the following great features:

  • Free trading signals.
  • Dealing Desk does not undergo any Forex Execution.
  • Spreads are rather low, i.e. 2.8 pips for GBP/USD and 2.5 pips for EUR/USD.
  • You can place your entry orders anywhere, including in the spread.
  • The dealer will not be able to make any interventions whatsoever, and no sort of conflicts are going to arise, with transparency assured.
  • You can expect to gain positive rolls at all margins.

FBS

FBS Main PageYou will be pleased to know that FBS was awarded the “Best Forex Broker Asia” award in the Foreign Exchange Awards 2012. Following is a list of features you will find and can take advantage of as a customer of FBS:

  • It requires a minimum deposit of just $5.
  • High leverage of 1:500.
  • Order volumes starting from 0.1 lots ten lots in step 0.01.
  • Currency deposits of EUR and USD are accepted.
  • Fixed Spreads beginning from 2 pips to 4 digits.
  • Liberty Reserve, Bank Wire and much more are some of the deposit options they accept.