In this article, we will talk about 5 best Forex Brokers for traders in India.
How we choose the best forex brokers in India?
To be the best forex broker in India, the broker must be well-regulated and offer low fees for traders in India.
Beyond regulatory compliance & fees, we’ve also compared other important factors such as customer support, trading platforms, speed of trade execution, and other key factors to identify the best forex brokers available for traders in India.
The following are the five best forex brokers in India, based on our research. Each broker offers unique advantages, making them stand out in different ways.
Remember, this video is for informational purposes only, and you should always conduct research before investing.
1. Fusion Markets
Assets Available | 5 Asset Classes – Forex, Crypto, Stocks, Commodities, Indices. |
Regulated By | ASIC, VFSC |
No. Of Trading Platforms | 4 Trading Platforms – TradingView, MT4, MT5, cTrader |
Leverage | Up to 1:500 |
Spreads | From 0.0 pips |
Commission | From $0 |
Min Deposit | $0 |
Demo Account | Yes |
Education Provided | Educational Blog |
Methods of Payment | Credit/Debit Cards, Bank Wire Transfer, Neteller, Skrill, PayPal, etc. |
Open Account |
Fusion Markets is a great forex broker for traders in India which offers low fees. The Fusion Markets broker was founded in 2017 and based in Melbourne, Australia.
The Fusion Markets broker is a well regulated forex broker that is regulated by the top tier Australian Securities and Investment Commission (ASIC).
This broker provides traders in India with 3 different account types for live trading. These are the zero account, classic account and the fusion pro account.
For the zero account, the spreads start from 0.0 pips and the commission charged is $2.25 per side. For the classic account, the spreads start from 0.9 pips and no commission is charged.
The Fusion Markets broker provide traders 4 main trading platforms. These are MetaTrader 4, MetaTrader 5, cTrader and TradingView trading platform.
When it comes to customer support, Fusion Markets excels by offering 24/7 assistance for traders. Traders can contact the Fusion Markets support team via email, phone, or live chat.
The Fusion Markets broker provides traders with a leverage of up to 1:500 depending on the financial instrument you are trading.
To open an account with the Fusion Markets broker, you do not require a minimum deposit. To start trading with the Fusion markets broker, you only require a deposit of $1 depending on the payment method.
If you are interested in learning more about the Fusion Markets broker, check our full review here or watch the video below.
2. Exness Broker
Assets Available | 5 Asset Classes – Forex, Commodities, Stocks, Indices and Cryptocurrency. |
Regulated By | FSA, CySEC, FCA, FSCA, FSC, FCS, CMA |
No. Of Trading Platforms | 3 Trading Platforms – MetaTrader 4, MetaTrader 5 and Exness trader app |
Leverage | Up to 1:2000 |
Spreads | From 0.0 pips |
Commission | From 0% |
Min Deposit | $10 |
Demo Account | Yes |
Education Provided | Educational videos and articles |
Methods of Payment | Bank cards, global electronic payment systems, and local payment methods |
Open Account |
Exness is another great broker for traders in India who offers competitive fees for traders. Founded in 2008, Exness is headquartered in Cyprus.
This broker is regulated by several financial authorities, including the Cyprus Securities and Exchange commission (CySEC).
Exness offers four main account types for traders in India. These account types are Standard, Pro, Zero, and Raw Spread accounts.
The commission and spreads vary depending on the account type. For Standard and Pro accounts, there are no commissions, with spreads starting from 0.2 pips for Standard and 0.1 pips for Pro.
For those using the Zero or Raw Spread accounts, spreads start at 0 pips. The Zero account charges a commission starting at $0.05 per side per lot, whereas the Raw Spread account can charge up to $3.50 per side per lot.
The Exness broker provide traders in India with 3 main trading platforms. These are the MetaTrader 4, MetaTrader 5 and Exness trader app.
This broker provides a maximum leverage of more than 1:2000 for traders in India, making it suitable for high leverage trading.
For customer support, Exness provides traders in India with 24/7 customer support. Traders can contact Exness via phone, email, or live chat.
To begin trading with Exness, you only need a minimum deposit of $10 for the Standard account. For other account types, the minimum deposit requirement is $200.
If you are interested in learning more about the Exness broker, check our full review here or watch the video below.
3. Axi
Assets Available | 6 Asset Classes – Forex, Shares, IPOs, Commodities, Indices, Cryptocurrency. |
Regulated By | ASIC, FCA, |
No. Of Trading Platforms | 2 Trading Platform- MetaTrader 4 & Axi Mobile trader |
Leverage | Up to 1:400 |
Spreads | From 0.0 pips |
Commission | From 0% |
Min Deposit | $200 |
Demo Account | Yes |
Education Provided | Trading courses provided |
Methods of Payment | Credit/Debit Cards, Bank Wire Transfer, Waave, PayPal |
Open Account |
Axi is another great broker for traders in India. Axi was founded in 2007 in Sydney, Australia.
Axi is regulated by several financial authorities including the Financial Conduct Authority (FCA) in UK.
Axi broker provides traders with 3 main account types. These are Standard Account, Pro Account and Elite Account. For the standard account, the spreads starts from 0.9 pips and no commission is charged.
For the pro account, the spreads starts from 0.0 pips and the commission charged is $7 per round trip. For the elite account, the spreads starts from 0.0 pips and the commission charged is $3.5 per round trip.
The Axi broker provide traders with only 1 trading platform which is the MetaTrader 4 trading platform. This is great trading platform that works on mobile, web and pc. If you want to trade with any other trading platform, the other brokers might be suitable for you.
When it comes to customer support, the Axi Broker offers traders with 24/5 customer support. Traders can contact the Axi broker through email, phone, live chat and whatsapp.
The maximum leverage provided by the Axi broker is 1:400. To start trading with the Axi broker you require a minimum deposit of $200.
4. IC Markets
Assets Available | 7 Asset Classes – Forex, Commodities, Indices, Bonds, Crypto, Stocks, Futures |
Regulated By | ASIC, CySEC, FSA |
No. Of Trading Platforms | 4 Trading Platforms – MetaTrader 4, MetaTrader 5, cTrader and TradingView. |
Leverage | Up to 1:500 |
Spreads | From 0.0 pips |
Commission | From 0% |
Min Deposit | $200 |
Demo Account | Yes |
Education Provided | Trading courses provided |
Methods of Payment | Credit Card/Debit Card, PayPal, Neteller, Skrill, Wire transfer, BPay, Broker to Broker, RapidPay and Klarna |
Open Account |
The IC Markets broker is also another great broker for traders in India. The IC Markets broker was founded in, Sydney Australia in 2007.
The IC Markets broker is regulated by several financial authorities, including the Australian Securities and Investment Commission (ASIC).
The IC Markets broker provides traders in India with 3 main account types. These are the raw spread cTrader/TradingView, raw spread MetaTrader and standard account. For the Raw spread accounts the spreads starts from 0.0 pips but for the standard account the spreads starts from 0.8 pips.
For the standard account, there are no commissions charged. For the raw spread cTrader/TradingView account, the commission charged is $3 per lot per side and for the raw spread MetaTrader account, the commission charged is $3.5 per lot per side.
This broker offers traders in India with several trading platforms. These are, TradingView, MetaTrader 4, MetaTrader 5 and cTrader trading platform.
The IC markets broker provides traders with 24/7 customer support. Similar to the previous brokers, you can contact the IC markets support through phone, email and live chat.
This broker provides a maximum leverage of up to 1:500. To start trading with the IC Markets broker, traders require a minimum deposit of $200.
5. AvaTrade
Assets Available | 7 Asset Classes – Forex, Crypto, Stocks, Commodities, Indices, ETFs, bonds. |
Regulated By | ASIC, FSCA, FSA, ADGM, FRSA, ISA, CySEC, CBI |
No. Of Trading Platforms | 8 Trading Platforms – TradingView, MT4, MT5, AvaOptions, AvaSocial, DupliTrade and ZuluTrade |
Leverage | Up to 1:400 |
Spreads | Around 0.9 for Majors |
Commission | 0% |
Min Deposit | $100 |
Demo Account | Yes |
Education Provided | Trading courses provided |
Methods of Payment | Credit/Debit Cards, Bank Wire Transfer, Neteller, Skrill, WebMoney, PayPal |
Open Account |
AvaTrade is another great broker for traders in India. AvaTrade broker was founded in Dublin, Ireland in 2006.
The Avatrade broker is regulated by multiple regulators including the Central Bank of Ireland (CBI).
The AvaTrade broker offers traders with a range of trading platforms. These include the popular MetaTrader 4 and MetaTrader 5 trading platforms.
AvaTrade also offers a mobile trading platform call the AvaTrade Go for traders who prefer mobile trading in India.
AvaTrade offers dependable customer support five days a week, ensuring help is accessible whenever it’s required. You can reach their support team via email, phone, or WhatsApp.
The AvaTrade broker provides traders with 2 main account types. These are the retail trader account and professional trader accounts.
For the retail account, the AvaTrade broker does not charge a commission and the spreads are around 0.9 pips for the Major currency pairs.
The maximum leverage provided by the AvaTrade broker is up to 1:400 for traders.
To start trading with the AvaTrade broker, you require a minimum deposit of $100. If you are interested in learning more about the AvaTrade broker, check our full review here or watch the video below.
Our Evaluation Methodology
We assess brokers through a comprehensive rating system that involves examining more than 100 data points across key categories. Our approach includes the following:
- Trust and Regulation – We verify each broker’s regulatory status and licenses to ensure they operate under the supervision of credible financial authorities, ideally tier 1 regulators.
- Cost Analysis – We scrutinise trading fees and compare them against industry standards by setting up and trading within live accounts.
- Platform Performance – We evaluate the trading platforms’ functionality, user interface, and available tools by conducting hands-on testing.
- Instrument Availability – We assess the diversity and range of tradable assets offered by each broker.
- Customer Service – We test the accessibility and competence of customer support by reaching out via various channels.
- Transaction Methods – We review the deposit and withdrawal options, focusing on fees and processing times.
- Account Variety – We analyze the different account types, considering their features, minimum deposit requirements, and execution methods.
- Educational Resources – We examine the quality and breadth of educational materials provided to help traders improve their knowledge and skills.
Conclusion
In this article, we talked about 5 different brokers that are great for traders in India. All these brokers are regulated and provide great features for traders in India.
