Top Forex Brokers In India,Top Forex Trading Platform
Forex trading in India is a popular activity, and several brokers cater to Indian traders with competitive spreads, low deposit requirements, and robust trading platforms. However, it's important to note that Forex trading on foreign currencies (except for INR pairs) is not legally permitted in India unless you trade via currency derivatives through regulated exchanges like NSE or MCX-SX. Always ensure that the broker you choose complies with Indian regulations.
Here are some of the top Forex brokers in India that cater to retail traders with INR-based currency pairs or offer currency derivative trading through Indian exchanges:
1. Zerodha
Overview: Zerodha is one of the largest stock brokers in India and offers trading in currency derivatives like USD/INR, EUR/INR, GBP/INR, and more.
Regulation: Regulated by SEBI (Securities and Exchange Board of India).
Features:
Very low brokerage fees.
User-friendly interface (via Kite platform).
Advanced charting tools and research.
Minimum Deposit: ₹2000.
Spreads: Very competitive, starting from 0.1 pips (for currency futures).
2. Upstox
Overview: Upstox is a popular choice in India for low-cost trading and offers currency futures and options through the NSE and MCX-SX.
Regulation: Regulated by SEBI and NSE.
Features:
Low brokerage fees (flat fee structure).
Intuitive trading platform (Upstox Pro).
Good research and market analysis tools.
Minimum Deposit: ₹1000.
Spreads: Competitive spreads for currency pairs.
3. Angel One (formerly Angel Broking)
Overview: Angel One is a prominent stockbroking firm in India that also offers currency derivatives trading on NSE.
Regulation: Regulated by SEBI.
Features:
Access to currency futures and options contracts.
High-quality research and market updates.
Multiple platform options (Angel Broking App and Angel SpeedPro).
Minimum Deposit: ₹1000.
Spreads: Standard competitive spreads on currency pairs.
4. ICICI Direct
Overview: ICICI Direct is one of India’s largest and most trusted brokers,