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17 Best Forex Brokers India For 2022 – Forexbrokers.com

The ForexBrokers.com annual forex broker review (six years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. Here’s how we test.

Trading forex (currencies) in India is popular among residents. While recommended, forex brokers are not required to become authorised by the Securities and Exchange Board of India (SEBI) to accept residents of India as customers.

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The Securities and Exchange Board of India is the financial regulatory body in India. Website: https://www.sebi.gov.in. We recommend India residents also follow the SEBI on Twitter, https://twitter.com/sebi_india.

The SEBI was established in 1988 as a non-statutory body and given powers with the SEBI Act 1992. For a historical breakdown, here’s a link to the Securities and Exchange Board of India webpage on Wikipedia.

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.

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Best Forex Brokers India

To find the best forex brokers in India, we created a list of all brokers that list India as a country they accept new customers from. We then ranked brokers by their Overall ranking.

Here is our list of the best forex brokers in India.

IG – Best overall broker, most trusted Saxo Bank – Best web based trading platformInteractive Brokers – Great overall, best for professionalsFOREX.com – Excellent all-round offeringAvaTrade – Great for beginners and copy tradingAdmiral Markets – Great for MetaTraderCapital.com – Great for beginners, easy to use

India Forex Brokers Comparison

Compare India authorised forex and CFDs brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm’s ForexBrokers.com Overall ranking.

How to Verify SEBI Authorisation

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To identify if a forex broker is authorised by the SEBI, the first step is to identify the registration number from the disclosure text at the bottom of the broker’s homepage. For example, here’s the key disclosure text from Interactive Broker’s website,

INTERACTIVE BROKERS (INDIA) PVT. LTD.

is a member of NSE, BSE [http://www.sebi.gov.in]. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Registered Office: 502/A, Times Square, Andheri Kurla Road, Andheri East, Mumbai 400059, India. Tel: +91-22-61289888 / Fax: +91-22-61289898.

Next, look up the FSP number on the financial register available on the SEBI’s website to validate that the broker is currently authorized in India.

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Methodology

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For our 2022 Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a three-month time period resulting in over 50,000 words of published research.

Each broker was graded on 113 different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure. Read more about Trust Score here.

As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.

Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with quality data they can trust. Learn more about how we test.

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.

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