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Best Forex Brokers India 2022

Marcus Taylor

Written by Marcus Taylor

September 08, 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.
  • FOREX.com
    - 8.7/10 Overall
  • AvaTrade - 8.2/10 Overall
  • Admiral Markets - 8.1/10 Overall
  • IC Markets - 8/10 Overall
  • Markets.com - 8.1/10 Overall
  • XM Group - 8/10 Overall
  • Tickmill - 7.8/10 Overall
  • HYCM (Henyep) - 7.7/10 Overall
  • HFM - 7.6/10 Overall
  • Eightcap - 7.2/10 Overall
  • ThinkMarkets - 7.3/10 Overall
  • BlackBull Markets - 7/10 Overall
  • easyMarkets - 7.3/10 Overall
  • AxiTrader - 7/10 Overall
  • FXPrimus - 6.8/10 Overall
Overall Rating
8.7 / 10
Minimum Initial Deposit
$100
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1.0 (July 2022)
All-in Cost EUR/USD - Active1.0 (July 2022)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1999
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses4
Tier-2 Licenses2
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)5500
Forex Pairs (Total)91
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingNo
Charting - Indicators / Studies (Total)203
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
8.2 / 10
Minimum Initial Deposit
$100
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.91 (Aug 2020)
All-in Cost EUR/USD - Active0.61 (Aug 2020)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2006
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses4
Tier-2 Licenses3
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)1260
Forex Pairs (Total)55
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)90
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
8.1 / 10
Minimum Initial Deposit
$100
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.8 (July 2021)
All-in Cost EUR/USD - Active0.7 (July 2021)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2001
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses2
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)8425
Forex Pairs (Total)50
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)30
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
8 / 10
Minimum Initial Deposit
$200
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.62 (August 2021)
All-in Cost EUR/USD - Active0.62 (August 2021)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2007
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses1
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)3583
Forex Pairs (Total)61
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformNo
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)30
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
8.1 / 10
Minimum Initial Deposit
$100
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
98
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1.9 (as of Oct 2019)
All-in Cost EUR/USD - Active1.9 (as of May 2019)
PayPal (Deposit/Withdraw)No
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1999
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses2
Tier-2 Licenses2
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsNo
Tradeable Symbols (Total)2179
Forex Pairs (Total)57
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)89
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsNo
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
8 / 10
Minimum Initial Deposit
$5
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1.6 (Aug 2020)
All-in Cost EUR/USD - Active0.8 (Aug 2021)
PayPal (Deposit/Withdraw)No
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2009
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses2
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)1372
Forex Pairs (Total)57
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformNo
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)30
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
7.8 / 10
Minimum Initial Deposit
$100
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.51 (August 2022)
All-in Cost EUR/USD - Active0.31 (August 2022)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2014
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses1
Tier-2 Licenses2
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)295
Forex Pairs (Total)62
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformNo
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)30
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
7.7 / 10
Minimum Initial Deposit
$100
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.6 (Sept 2021)
All-in Cost EUR/USD - Active0.6 (Sept 2021)
PayPal (Deposit/Withdraw)No
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1977
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses2
Tier-2 Licenses2
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)245
Forex Pairs (Total)71
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformNo
Social Trading / Copy TradingNo
Charting - Indicators / Studies (Total)30
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsNo
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
7.6 / 10
Minimum Initial Deposit
$5
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1.2 (August 2021)
All-in Cost EUR/USD - Active0.9 (August 2021)
PayPal (Deposit/Withdraw)No
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2010
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses1
Tier-2 Licenses3
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)3500
Forex Pairs (Total)47
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformNo
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)15
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


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

india-1.png

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.

india-2.png

Comparison of account & trading features

india-3.png

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.

Company Accepts IN Residents Overall Rating Minimum Initial Deposit Average Spread EUR/USD - Standard Trust Score Trust Score Tradeable Symbols (Total) Visit Site
IG logoIG check 9.7 £250.00 0.86 (September 2022) 99 Highly Trusted 19537 Visit Site
Saxo Bank logoSaxo Bank check 9.5 €2,000 0.9 (September 2022) 99 Highly Trusted 60000
CMC Markets logoCMC Markets check 9.4 $0 0.51 (August 2022) 99 Highly Trusted 12377
Interactive Brokers logoInteractive Brokers check 9.2 $0 0.6 (Aug 2022) 99 Highly Trusted 8500
TD Ameritrade logoTD Ameritrade check 8.9 $0 1.25 pips (September 2022) 99 Highly Trusted 0
FOREX.com logoFOREX.com check 8.7 $100 1.0 (July 2022) 99 Highly Trusted 5500 Visit Site
XTB logoXTB check 8.7 $0 1.07 (Q3 2022) 95 Highly Trusted 12000
City Index logoCity Index check 8.7 £100.00 1.0 (July 2022) 99 Highly Trusted 13500
eToro logoeToro check 8.6 $10-$10,000 1 (August 2021) 93 Highly Trusted 3458
Swissquote logoSwissquote check 8.5 $1000 N/A 99 Highly Trusted 466
AvaTrade logoAvaTrade check 8.2 $100 0.91 (Aug 2020) 93 Highly Trusted 1260
Plus500 logoPlus500 check 8.2 €100 0.6 (as of Aug 2018) 98 Highly Trusted 2800
FXCM logoFXCM check 8.3 Starts from $50 1.38 (Q2 2022) 96 Highly Trusted 441
Admiral Markets logoAdmiral Markets check 8.1 $100 0.8 (July 2021) 87 Trusted 8425
FP Markets logoFP Markets check 8.3 $100 AUD 1.2 (August 2022) 86 Trusted 9956
IC Markets logoIC Markets check 8 $200 0.62 (August 2021) 86 Trusted 3583
OANDA logoOANDA check 8 $0 1.26 (5/22-5/27/22) 92 Highly Trusted 124
Capital.com logoCapital.com check 8.1 $20 0.6 (July 2021) 77 Average Risk 6000
Markets.com logoMarkets.com check 8.1 $100 1.9 (as of Oct 2019) 98 98 2179
XM Group logoXM Group check 8 $5 1.6 (Aug 2020) 90 Trusted 1372
Pepperstone logoPepperstone check 8 $200 0.77 (September 2022) 93 Highly Trusted 1200
FxPro logoFxPro check 8 $100 1.51 (August 2020) 90 Highly Trusted 2249
Tickmill logoTickmill check 7.8 $100 0.51 (August 2022) 82 Trusted 295
HYCM (Henyep) logoHYCM (Henyep) check 7.7 $100 0.6 (Sept 2021) 86 Trusted 245
DooPrime logoDooPrime check 7.7 $100 -1 84 Average Risk 10000
Fineco Bank logoFineco Bank check 7.7 $0 N/A 92 Highly Trusted 126
HFM logoHFM check 7.6 $5 1.2 (August 2021) 85 Trusted 3500
BDSwiss logoBDSwiss check 7.6 $100-$5000 (depending on account type) 1.6 (08/10/22) 83 Trusted 1081
Vantage logoVantage check 7.4 $50 1.22 (August 2021) 83 Trusted 257
Trading 212 logoTrading 212 check 7.4 EUR 10 N/A 77 Average Risk 1785
Moneta Markets logoMoneta Markets check 7.3 $50 1.27 (September 2022) 71 Trusted 965
Trade Nation logoTrade Nation check 7.1 $0 0.6 83 Trusted 601
ACY Securities logoACY Securities check 7.2 $50 1.2 (Sept 2021) 75 Average Risk 1600
Eightcap logoEightcap check 7.2 $100 N/A 87 Trusted 326
ThinkMarkets logoThinkMarkets check 7.3 $250.00 N/A 86 Trusted 1674
BlackBull Markets logoBlackBull Markets check 7 $0 0.827 (August 2022) 74 Average Risk 26000
VT Markets logoVT Markets check 7.2 $200 1.2 (September 2021) 71 Trusted 168
easyMarkets logoeasyMarkets check 7.3 $100 0.9 (as of Mar 2020) 84 Trusted 199
TMGM logoTMGM check 7 $100 0.96 (July 2021) 79 Average Risk 12000
Exness logoExness check 7.2 $1 0.9 (as of May 19) 74 Average Risk 112
Spreadex logoSpreadex check 7.2 $0 -1 70 Average Risk 2000
IronFX logoIronFX check 7.1 $50 1.2 84 Trusted 340
RoboForex (RoboMarkets) logoRoboForex (RoboMarkets) check 7.1 $100 1.4 (Jan 2022) 69 High Risk 12000
Trade360 logoTrade360 check 7 $250 N/A 75 Average Risk 1062
AxiTrader logoAxiTrader check 7 0 N/A 83 Trusted 175
GKFX logoGKFX check 7 $0 N/A 66 High Risk 354
Vestle logoVestle check 7 -1 -1 79 Average Risk 750
TeleTrade logoTeleTrade check 7 $100 -1 67 High Risk 500
FXOpen logoFXOpen check 7 $100 N/A 80 Trusted 87
OctaFX logoOctaFX check 6.8 $25 0.6 (August 2021) 67 High Risk 80
Forex4you logoForex4you check 6.9 $0 -1 62 High Risk 150
LegacyFX logoLegacyFX check 6.8 $500 0 75 Average Risk 425
FXPrimus logoFXPrimus check 6.8 $100 N/A 69 High Risk 140
Alpari logoAlpari check 6.8 $20 N/A 67 High Risk 105
GBE brokers logoGBE brokers check 6.7 $500 -1 69 High Risk 500
TopFX logoTopFX check 6.5 Depends on payment method N/A 67 High Risk 655
ATFX logoATFX check 6.6 $500 -1 70 Average Risk 150
UFX logoUFX check 6.5 $100 3 (Jan 2021) 67 High Risk 619
Libertex (Forex Club) logoLibertex (Forex Club) check 6.5 $10 -1 72 High Risk 300
Xtrade logoXtrade check 6.5 $250 -1 80 Trusted 142
Tradeo logoTradeo check 6.4 $200 -1 67 High Risk 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
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.


Trading Leveraged Products such as Forex and Derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice. Please read the full Risk Disclosure.
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