Best Forex Brokers India 2022
Written by Marcus Taylor
Last updated September 08, 2022
Published May 09, 2022
Published May 09, 2022
Here are the best forex brokers accepting residents of India as clients.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.- IG - 9.7/10 Overall
- Saxo Bank - 9.5/10 Overall
- CMC Markets - 9.4/10 Overall
- Interactive Brokers - 9.2/10 Overall
- TD Ameritrade - 8.9/10 Overall
- FOREX.com - 8.7/10 Overall
- XTB - 8.7/10 Overall
- City Index - 8.7/10 Overall
- Swissquote - 8.5/10 Overall
- eToro - 8.4/10 Overall
- AvaTrade - 8.2/10 Overall
- Plus500 - 8.2/10 Overall
- FXCM - 8.3/10 Overall
- Admiral Markets - 8.1/10 Overall
- IC Markets - 8/10 Overall
Overall Rating
9.7
/ 10
Minimum Initial Deposit
£250.00
Trust Score
Highly Trusted
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.
Cost & Funding
| Average Spread EUR/USD - Standard | 0.86 (September 2022) |
| All-in Cost EUR/USD - Active | 0.5957 (September 2022) |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | No |
| Visa/Mastercard (Credit/Debit) | Yes |
Regulation
| Year Founded | 1974 |
| Publicly Traded (Listed) | Yes |
| Bank | Yes |
| Tier-1 Licenses | 7 |
| Tier-2 Licenses | 2 |
Investment Options
| Forex Trading | No |
| Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 19537 |
| Forex Pairs (Total) | 100 |
| Bitcoin | Yes |
Trading Platforms
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | Yes |
| Charting - Indicators / Studies (Total) | 33 |
Apps & Tools
| Android App | Yes |
| Apple iOS App | Yes |
| Has Education - Forex or CFDs | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
Overall Rating
9.5
/ 10
Minimum Initial Deposit
€2,000
Trust Score
Highly Trusted
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.
Cost & Funding
| Average Spread EUR/USD - Standard | 0.8 (August 2020) |
| All-in Cost EUR/USD - Active | 0.6 (August 2020) |
| PayPal (Deposit/Withdraw) | No |
| Skrill (Deposit/Withdraw) | No |
| Visa/Mastercard (Credit/Debit) | Yes |
Regulation
| Year Founded | 1992 |
| Publicly Traded (Listed) | No |
| Bank | Yes |
| Tier-1 Licenses | 6 |
| Tier-2 Licenses | 1 |
Investment Options
| Forex Trading | No |
| Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 60000 |
| Forex Pairs (Total) | 190 |
| Bitcoin | Yes |
Trading Platforms
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | Yes |
| Charting - Indicators / Studies (Total) | 62 |
Apps & Tools
| Android App | Yes |
| Apple iOS App | Yes |
| Has Education - Forex or CFDs | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
Overall Rating
9.4
/ 10
Minimum Initial Deposit
$0
Trust Score
Highly Trusted
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.
Cost & Funding
| Average Spread EUR/USD - Standard | 0.73 (August 2021) |
| All-in Cost EUR/USD - Active | N/A |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | No |
| Visa/Mastercard (Credit/Debit) | Yes |
Regulation
| Year Founded | 1989 |
| Publicly Traded (Listed) | Yes |
| Bank | No |
| Tier-1 Licenses | 5 |
| Tier-2 Licenses | 1 |
Investment Options
| Forex Trading | No |
| Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 11927 |
| Forex Pairs (Total) | 158 |
| Bitcoin | Yes |
Trading Platforms
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | Yes |
| Charting - Indicators / Studies (Total) | 86 |
Apps & Tools
| Android App | Yes |
| Apple iOS App | Yes |
| Has Education - Forex or CFDs | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
Overall Rating
9.2
/ 10
Minimum Initial Deposit
$0
Trust Score
Highly Trusted
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.
Cost & Funding
| Average Spread EUR/USD - Standard | 0.6 (August 2022) |
| All-in Cost EUR/USD - Active | 0.6 (Aug 2022) |
| PayPal (Deposit/Withdraw) | No |
| Skrill (Deposit/Withdraw) | No |
| Visa/Mastercard (Credit/Debit) | No |
Regulation
| Year Founded | 1977 |
| Publicly Traded (Listed) | Yes |
| Bank | No |
| Tier-1 Licenses | 8 |
| Tier-2 Licenses | 1 |
Investment Options
| Forex Trading | No |
| Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 8300 |
| Forex Pairs (Total) | 91 |
| Bitcoin | Yes |
Trading Platforms
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | No |
| MetaTrader 5 (MT5) | No |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | No |
| Charting - Indicators / Studies (Total) | 127 |
Apps & Tools
| Android App | Yes |
| Apple iOS App | Yes |
| Has Education - Forex or CFDs | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
Overall Rating
8.9
/ 10
Minimum Initial Deposit
$0
Trust Score
Highly Trusted
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.
Cost & Funding
| Average Spread EUR/USD - Standard | 1.26 pips (August 2021) |
| All-in Cost EUR/USD - Active | 1.26 pips (August 2021) |
| PayPal (Deposit/Withdraw) | No |
| Skrill (Deposit/Withdraw) | No |
| Visa/Mastercard (Credit/Debit) | No |
Regulation
| Year Founded | 1955 |
| Publicly Traded (Listed) | Yes |
| Bank | Yes |
| Tier-1 Licenses | 4 |
| Tier-2 Licenses | 0 |
Investment Options
| Forex Trading | Yes |
| Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 0 |
| Forex Pairs (Total) | 73 |
| Bitcoin | Yes |
Trading Platforms
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | No |
| MetaTrader 5 (MT5) | No |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | No |
| Charting - Indicators / Studies (Total) | 360 |
Apps & Tools
| Android App | Yes |
| Apple iOS App | Yes |
| Has Education - Forex or CFDs | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
Overall Rating
8.7
/ 10
Minimum Initial Deposit
$100
Trust Score
Highly Trusted
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.
Cost & Funding
| Average Spread EUR/USD - Standard | 1.1 (US August 2021) |
| All-in Cost EUR/USD - Active | 1.1 (US August 2021) |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | No |
| Visa/Mastercard (Credit/Debit) | Yes |
Regulation
| Year Founded | 1999 |
| Publicly Traded (Listed) | Yes |
| Bank | No |
| Tier-1 Licenses | 4 |
| Tier-2 Licenses | 2 |
Investment Options
| Forex Trading | No |
| Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 5500 |
| Forex Pairs (Total) | 91 |
| Bitcoin | Yes |
Trading Platforms
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | No |
| Charting - Indicators / Studies (Total) | 139 |
Apps & Tools
| Android App | Yes |
| Apple iOS App | Yes |
| Has Education - Forex or CFDs | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
Overall Rating
8.7
/ 10
Minimum Initial Deposit
$0
Trust Score
Highly Trusted
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.
Cost & Funding
| Average Spread EUR/USD - Standard | 0.9 (Q3 2021) |
| All-in Cost EUR/USD - Active | 0.9 (Q3 2021) |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
Regulation
| Year Founded | 2002 |
| Publicly Traded (Listed) | Yes |
| Bank | No |
| Tier-1 Licenses | 1 |
| Tier-2 Licenses | 3 |
Investment Options
| Forex Trading | No |
| Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 10000 |
| Forex Pairs (Total) | 49 |
| Bitcoin | Yes |
Trading Platforms
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | Yes |
| Charting - Indicators / Studies (Total) | 39 |
Apps & Tools
| Android App | Yes |
| Apple iOS App | Yes |
| Has Education - Forex or CFDs | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
Overall Rating
8.7
/ 10
Minimum Initial Deposit
£100.00
Trust Score
Highly Trusted
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.
Cost & Funding
| Average Spread EUR/USD - Standard | 1.1 (August 2021) |
| All-in Cost EUR/USD - Active | 1.1 (August 2021) |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | No |
| Visa/Mastercard (Credit/Debit) | Yes |
Regulation
| Year Founded | 1983 |
| Publicly Traded (Listed) | Yes |
| Bank | No |
| Tier-1 Licenses | 3 |
| Tier-2 Licenses | 1 |
Investment Options
| Forex Trading | No |
| Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 12000 |
| Forex Pairs (Total) | 84 |
| Bitcoin | Yes |
Trading Platforms
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | Yes |
| Charting - Indicators / Studies (Total) | 139 |
Apps & Tools
| Android App | Yes |
| Apple iOS App | Yes |
| Has Education - Forex or CFDs | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
Overall Rating
8.5
/ 10
Minimum Initial Deposit
$1000
Trust Score
Highly Trusted
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.
Cost & Funding
| Average Spread EUR/USD - Standard | N/A |
| All-in Cost EUR/USD - Active | N/A |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | Yes |
| Visa/Mastercard (Credit/Debit) | Yes |
Regulation
| Year Founded | 1996 |
| Publicly Traded (Listed) | Yes |
| Bank | Yes |
| Tier-1 Licenses | 4 |
| Tier-2 Licenses | 1 |
Investment Options
| Forex Trading | No |
| Trading - Forex or CFDs | Yes |
| Tradeable Symbols (Total) | 466 |
| Forex Pairs (Total) | 78 |
| Bitcoin | Yes |
Trading Platforms
| Virtual Trading (Demo) | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
| Proprietary Platform | Yes |
| Social Trading / Copy Trading | Yes |
| Charting - Indicators / Studies (Total) | 49 |
Apps & Tools
| Android App | Yes |
| Apple iOS App | Yes |
| Has Education - Forex or CFDs | Yes |
| Daily Market Commentary | Yes |
| Forex News (Top-Tier Sources) | Yes |
| Economic Calendar | Yes |
Here are some additional brokers worth checking out.
Why Choose Forex.com For India?
Forex.com scored best in our review of the top brokers for india , which takes into account 120+ factors across eight categories. Here are some areas where Forex.com scored highly in:
- 19 + years in business
- Offers 300 + instruments
- A range of platform inc. MT4, Web Trader, NinjaTrader, Tablet & Mobile apps
- 24/7 customer service
- Tight spreads from 1.00pips
- Used by 0 + traders.
- Offers demo account
- 1 languages
Forex.com offers one way to trade Forex, if you wanted to trade EURUSD
The two most important categories in our rating system are the cost of trading and the broker's trust score. To calculate a broker's trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.
Forex.com have a AAA trust score. This is largely down to them being regulated by Financial Conduct Authority, segregating client funds, being segregating client funds, being established for over 19 years.
Trust Score comparison
A Comparison of Forex.com vs. ThinkMarkets
Want to see how Forex.com stacks up against ThinkMarkets? We've compared their spreads, features, and key information below.
Spread & fee comparsion
The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
Comparison of account & trading features
BrokerNotes.co 2022 Overall Rankings
To recap, here are our top forex brokers accepting residents of India as clients for 2022, sorted by Overall ranking.
| Feature |
 IG
|
Saxo Bank
|
CMC Markets
|
Interactive Brokers
|
TD Ameritrade
|
 FOREX.com
|
XTB
|
City Index
|
Swissquote
|
 eToro
|
 AvaTrade
|
 Plus500
|
 FXCM
|
 Admiral Markets
|
 IC Markets
|
 OANDA
|
 Capital.com
|
 Markets.com
|
 XM Group
|
 Pepperstone
|
 FP Markets
|
 FxPro
|
 Tickmill
|
 HYCM (Henyep)
|
 DooPrime
|
 Fineco Bank
|
 HFM
|
 BDSwiss
|
 Vantage
|
 Trading 212
|
 Moneta Markets
|
 Trade Nation
|
 ACY Securities
|
 Eightcap
|
 ThinkMarkets
|
 BlackBull Markets
|
 VT Markets
|
 easyMarkets
|
 TMGM
|
 Exness
|
 Spreadex
|
 IronFX
|
 RoboForex (RoboMarkets)
|
 Trade360
|
 AxiTrader
|
 GKFX
|
 Vestle
|
 TeleTrade
|
 FXOpen
|
 OctaFX
|
 Forex4you
|
 LegacyFX
|
 FXPrimus
|
 Alpari
|
 GBE brokers
|
 TopFX
|
 ATFX
|
 UFX
|
 Libertex (Forex Club)
|
 Xtrade
|
 Tradeo
|
| Overall Rating | 9.7 | 9.5 | 9.4 | 9.2 | 8.9 | 8.7 | 8.7 | 8.7 | 8.5 | 8.4 | 8.2 | 8.2 | 8.3 | 8.1 | 8 | 8 | 8.1 | 8.1 | 8 | 8 | 7.9 | 7.8 | 7.8 | 7.7 | 7.7 | 7.7 | 7.6 | 7.6 | 7.4 | 7.4 | 7.3 | 7.1 | 7.2 | 7.2 | 7.3 | 7 | 7.2 | 7.3 | 7 | 7.2 | 7.2 | 7.1 | 7.1 | 7 | 7 | 7 | 7 | 7 | 7 | 6.8 | 6.9 | 6.8 | 6.8 | 6.8 | 6.7 | 6.5 | 6.6 | 6.5 | 6.5 | 6.5 | 6.4 |
| Minimum Initial Deposit | £250.00 | €2,000 | $0 | $0 | $0 | $100 | $0 | £100.00 | $1000 | $10-$200 | $100 | €100 | Starts from $50 | $100 | $200 | $0 | $20 | $100 | $5 | $200 | $100 AUD | $100 | $100 | $100 | $100 | $0 | $5 | $100-$5000 (depending on account type) | $200 | EUR 10 | $50 | $0 | $50 | $100 | $250.00 | $0 | $200 | $100 | $100 | $1 | $0 | $50 | $100 | $250 | 0 | $0 | -1 | $100 | $100 | $25 | $0 | $500 | $100 | $20 | $500 | Depends on payment method | $500 | $100 | $10 | $250 | $200 |
| Average Spread EUR/USD - Standard | 0.86 (September 2022) | 0.8 (August 2020) | 0.73 (August 2021) | 0.6 (August 2022) | 1.26 pips (August 2021) | 1.1 (US August 2021) | 0.9 (Q3 2021) | 1.1 (August 2021) | N/A | 1 (August 2021) | 0.91 (Aug 2020) | 0.6 (as of Aug 2018) | 1.4 (Q2 2020) | 0.8 (July 2021) | 0.62 (August 2021) | 1.26 (5/22-5/27/22) | 0.6 (July 2021) | 1.9 (as of Oct 2019) | 1.6 (Aug 2020) | 0.77 (November 2021) | 1.2 (August 2022) | 1.51 (August 2020) | 0.27 (September 2021) | 0.6 (Sept 2021) | -1 | N/A | 1.2 (August 2021) | 1.6 (08/10/22) | 1.22 (August 2021) | N/A | 1.22 (August 2021) | 0.6 | 1.2 (Sept 2021) | N/A | N/A | 0.845 (October, 2021) | 1.2 (September 2021) | 0.9 (as of Mar 2020) | 0.96 (July 2021) | 0.9 (as of May 19) | -1 | 1.2 | 1.4 (Jan 2022) | N/A | N/A | N/A | -1 | -1 | N/A | 0.6 (August 2021) | -1 | 0 | N/A | N/A | -1 | N/A | -1 | 3 (Jan 2021) | -1 | -1 | -1 |
| Trust Score | 99 | 99 | 99 | 99 | 99 | 99 | 95 | 99 | 99 | 93 | 93 | 99 | 96 | 87 | 86 | 92 | 77 | 98 | 90 | 93 | 82 | 90 | 82 | 86 | 84 | 92 | 85 | 83 | 83 | 77 | 83 | 83 | 75 | 87 | 86 | 74 | 83 | 84 | 79 | 74 | 70 | 84 | 69 | 75 | 83 | 66 | 79 | 67 | 80 | 67 | 62 | 75 | 69 | 67 | 69 | 67 | 70 | 67 | 67 | 80 | 67 |
| Trust Score | Highly Trusted | Highly Trusted | Highly Trusted | Highly Trusted | Highly Trusted | Highly Trusted | Highly Trusted | Highly Trusted | Highly Trusted | Highly Trusted | Highly Trusted | Highly Trusted | Highly Trusted | Trusted | Trusted | Highly Trusted | Average Risk | 98 | Trusted | Highly Trusted | Trusted | Highly Trusted | Trusted | Trusted | Average Risk | Highly Trusted | Trusted | Trusted | Trusted | Average Risk | Trusted | Trusted | Average Risk | Trusted | Trusted | Average Risk | Trusted | Trusted | Average Risk | Average Risk | Average Risk | Trusted | High Risk | Average Risk | Trusted | High Risk | Average Risk | High Risk | Trusted | High Risk | High Risk | Average Risk | High Risk | High Risk | High Risk | High Risk | Average Risk | High Risk | High Risk | Trusted | High Risk |
| Tradeable Symbols (Total) | 19537 | 60000 | 11927 | 8300 | 0 | 5500 | 10000 | 12000 | 466 | 3056 | 1260 | 1896 | 276 | 8425 | 3583 | 124 | 6000 | 2179 | 1372 | 1200 | 9790 | 2175 | 295 | 245 | 10000 | 126 | 3500 | 1081 | 257 | 1785 | 266 | 601 | 1600 | 326 | 1674 | 26000 | 168 | 199 | 12000 | 112 | 2000 | 340 | 12000 | 1062 | 175 | 354 | 750 | 500 | 87 | 52 | 150 | 425 | 140 | 105 | 500 | 655 | 150 | 619 | 300 | 142 | 256 |
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Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.
About the Author
Marcus Taylor
BrokerNotes was founded in 2014 by Marcus Taylor, founder and CEO of Venture Harbor, a venture studio in Oxford that develops innovative online tools & technology across a range of sectors.