Best Forex Brokers in India 2022

Best Forex Brokers in India 2022

Table of Contents

Forex trading has gained mainstream adoption in the last few years in India. Indian forex traders are always in search of a good forex broker that can provide the best trading environment for speculating on forex currency pairs as forex trading is becoming more popular in India day by day. But be aware that a forex broker is not necessarily be authorized by financial regulator SEBI to accept Indian residents as clients. 

In this article, we have listed the best forex brokers in India on the basis of their trading tools, fees, trading platforms, account tiers, and customer support. Some of them have recently started operating in India to provide a feasible platform for forex trading to Indian traders and investors. 

The list provided below consists of forex brokers that we find most suitable for each level of trader. As traders have different experiences and risk appetites, these brokers have the tendency to satisfy the needs of each kind of trader. 

Especially for beginners, education plays an important part and all of them provide the best educational and learning materials to get knowledge about the forex market and other international markets as well. 

Let’s get started.

Top 9 Best Forex Brokers in India


Investby is best known for providing this kind of educational material to clients. The brokerage firm is recently started operating in India and has gained the attraction of a lot of active Indian forex traders. The brokerage firm offers three account tiers to serve each trader with sufficient needs. The three account types are silver, gold, and platinum account types. 

Plus, the financial service provider allows traders to use the demo account for free to get familiar with the trading platform like MetaTrader 4 (MT4) and understand the forex market. There is a wide range of trading tools that you can use for technical analysis and fast trade execution. 

There is no minimum initial deposit required to activate your trading account. Investby also charges no commission on deposits and withdrawals. The only revenue stream of the broker is to earn from spreads which is nothing but the difference between the bid and ask price. 

Pros and Cons

There are multiple pros and cons of Invesby. Then let’s look at them. 


  • 350+ tradable assets available 
  • MetaTrader 4 (MT4)
  • Tight Spreads
  • No Commission
  • Fast deposits and withdrawals
  • 24/7 market access available
  • High data and funds security
  • Fast systematic transfer plan (STP) execution
  • Free educational and research tools 


  • No MetaTrader 5


On your live and demo trading accounts, you can keep the financial markets at your fingertips with FXTM Trader and respond to market moves in seconds. Simply launch the app to see all of your accounts in one location, allowing you to easily open, change, and close positions. Activate either 4-digit PIN or fingerprint access for a faster method to check your accounts.

Take use of the tools and research available on the FXTM trading platform to stay informed when trading forex, gold, commodities, and more. You may also remain up to speed with the newest insights wherever you are thanks to news, market research, and industry-leading training materials.

Pros and Cons


  • Best customer service
  • Fast trade execution
  • Quick account opening
  • Vast educational and research tools
  • No commission on deposits and withdrawals
  • Customized trading platforms
  • User-friendly and intuitive trading


  • High CFD fee
  • Inactivity fees
  • No 24/7 customer support


XM provides clients with a user-friendly interface that allows them to trade worldwide markets using either a demo or a genuine account from a single login.

XM is one of the best forex brokers in India. The broker charges very low trading fees and exceptional educational and research support for young and novice traders. Users of the MT5 platform may use the app to manage their trading accounts and trade our whole product suite.

Users who are installing the app for the first time may register and manage their accounts without needing to use a desktop computer.

Pros and Cons


  • Highly regulated broker with two tier-1 licenses
  • Wide range of tradable assets
  • Virtual demo trading is available
  • MetaTrader 5 (MT5)
  • Low minimum deposit
  • Social trading and copy trading platforms


  • No physical or CFDs on cryptocurrency
  • No active trader or VIP discounts
  • Limited research tools


Open a free account today and invest in prominent stocks from the world’s biggest exchanges with no commission. eToro, unlike other stock trading platforms, offers you to build a diversified stock portfolio with no markup, ticketing, or administration costs. Where appropriate, eToro also absorbs Stamp Duty and Financial Transaction Tax.

To offer you a full crypto solution, rely on eToro’s experience as a global financial leader from the early days of Blockchain. Buy Bitcoin, Ethereum, XRP, and other popular cryptocurrencies with no deposit fees and a range of easy deposit methods, such as credit card and PayPal.

You may get the tools you need to build your ideal investing portfolio. eToro allows you to view useful market surveys and technical analyses with ease. Apart from all these, eToro offers its clients unique accessibility called copy trading. You can make maximum use of it in order to make high profits and minimize your losses.

Pros and Cons


  • Unique social copy trading facility available
  • Highly regulated with two tier-1 jurisdictions
  • User-friendly and intuitive web trading platform
  • Over 3000 symbols of tradable assets from various markets
  • Premium perks for club members


  • High trading fees
  • Limited research materials and tools 
  • Not supportive to automated trading strategies


For the fastest market access, you can join the PrimeFin brokerage firm. Develop your own trading style, customize your account, and wow the market with quick and precise decisions. Flexible trading conditions, a diverse asset portfolio, and a full educational center are all available to you.

Make quick, accurate bids on any of the 350+ items on offer. Open bids are unrestricted on PrimeFin, which covers Forex, cryptocurrencies, indices, precious metals, stocks, and commodities. The PrimeFin platform is compatible with a wide range of devices, including PCs, laptops, tablets, and smartphones.

Professional support supervisors are available to answer your questions 24 hours a day, 7 days a week. You may benefit from a completely protected account as well as better financial transaction security. The PrimeFin Security system has powerful firewalls.

Pros and Cons


  • 300+ Trading Instruments
  • MetaTrader 4 (MT4) intuitive trading platform available
  • A broad range of world-class trading tools for technical analysis
  • 24/7 Dedicated Customer Support
  • Exceptional research support
  • Highly Regulated
  • Advanced Educational Support
  • User-friendly Trading Platform


  • No MetaTrader 5 (MT5)


IG is one of the best forex brokers currently operating in India. It is important to note that IG allows its clients to enjoy a favorable trading environment. There are more than 30 trading tools and a wide range of assets to trade. The broker provides fantastic spreads and leverage to gain traction in the journey of forex trading.

One can maximize their earnings using the tools to analyze the market in a very good manner. You can also minimize your losses using the stop loss and order tools. Weekend trading on forex and worldwide indices is available, as well as after-hours trading on 70 US stocks. Begin spread betting, trading CFDs, or constructing a share dealing investment portfolio.

With IG, you can trade over 15,000 global markets on the go, including currencies, stocks, commodities, options, and more. Get access to interactive charts, breaking news, and trading alerts. Get exclusive access to worldwide data and expert analysis, as well as real-time pricing. 

Pros and Cons


  • Good quality web trading platform
  • A wide array of deposit and withdrawal options
  • Multiple trading tools for traders’ convenience
  • Good educational support
  • Low minimum deposit
  • No deposit or withdrawal fee


  • Mediocre customer support
  • Forex and Stock CFDs are high


You can trade FX from your phone or tablet whenever and wherever it is convenient for you.

Alpari now incorporates not just the most relevant insights from experienced financial traders, but also the entire trading platform’s functionality. You can now get complete access to the financial market for free by downloading the smartphone app.

Even for those with no prior trading knowledge, Alpari Mobil’s user-friendly and intuitive interface will make FX trading quick and straightforward. Alpari intends to improve this app on a regular basis, so keep an eye out for updates and don’t lose out on any of the app’s new features.

Pros and Cons


  • A good number of trading instruments are available
  • Best tools for forex trading research
  • Good platform for beginners
  • User-friendly and customized trading platforms 
  • Quality educational tools 


  • Not strong regulation in some countries
  • No 24/7 support

Saxo Bank

Saxo Bank is the most popular trading platform for active traders, offering 35,000+ financial instruments across all asset classes. It is one of the best forex brokerage firms in India. 

Wherever you are, you can access powerful trading tools, unique risk-management features, and comprehensive news and analysis.

Saxo Group is a well-licensed and regulated broker that specializes in online trading and investment. From a single cross-currency margin account, it gives multi-asset access to global financial markets. Our technology is used by more than 100 financial institutions throughout the world, and our award-winning trading platforms are available in 20 languages.

Pros and Cons


  • User-friendly trading platforms
  • Wide range of trading instruments
  • Great research tools
  • No withdrawal fee
  • Fully digital account opening
  • Low forex fees


  • High minimum deposit
  • No 24/7 support


Ava trade has everything you need to facilitate trading in forex, cryptos, CFDs, all from any device, with low spreads and high leverage, safe payments, and quick withdrawals. Indian forex traders consider AvaTrade also as one of the best forex brokers. 

The Ava Trade platform allows you to trade with a variety of instruments while on the go. There are over 250 currency pairings to choose from, as well as various derivatives. Commodities, cryptocurrencies, stocks, equity indexes, and bonds are all available for trading on mobile devices. 

For Forex, ETFs and vanilla options are also accessible. Traders benefit from a comprehensive dashboard that includes a set of straightforward management tools, clear charts, and zoom for details, as well as a smooth trading experience.

Pros and Cons


  • More than 50 forex currency pairs are available
  • Social copy trading feature is available 
  • Fast account opening
  • Extensive research options
  • Fast deposit and withdrawal process
  • No withdrawal fee


  • No US stock trading
  • No physical cryptocurrency
  • High minimum deposit

Bottom Line

There are some best forex brokers in India operating currently. You just have to be aware of only those with a high reputation and a great number of clients. Sometimes, traders just blindly choose the broker by being heavily driven by their emotions. Be aware whenever you find something online, it’s genuine and comes out of the genuine source. Many forex traders rapidly losing their money because of scams flying around. 

In the age of technology and blockchain, you need to learn the definition that what exactly the “best broker” is because everyone has a different perception of the best broker according to their trading experience and risk appetite. So track your risk appetite and according to your trading experience, go for the broker that you find the most suitable. 

Above are the best-reputed forex brokers from which you can choose. Each of them is capable enough to serve the traders from beginners to highly experienced.


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