Best Forex Brokers India 2023

Written by Marcus Taylor

March 15, 2023

Here are the best forex brokers accepting residents of India as clients.

• FOREX.com
  - 9.3/10 Overall
• AvaTrade - 8.6/10 Overall
• XM Group - 8.4/10 Overall
• Admiral Markets - 8.3/10 Overall
• IC Markets - 8.2/10 Overall
• Tickmill - 7.9/10 Overall
• BlackBull Markets - 7.9/10 Overall
• HFM - 7.7/10 Overall
• HYCM (Henyep) - 7.7/10 Overall
• Eightcap - 7.6/10 Overall
• ThinkMarkets - 7.4/10 Overall
• easyMarkets - 7.3/10 Overall
• AxiTrader - 7.1/10 Overall
• FXPrimus - 6.9/10 Overall
• Libertex (Forex Club) - 6.7/10 Overall

Visit Site

open_in_new

A Global Market Leader!

Trading forex carries a high level of risk.

FOREX.com

Overall Rating

9.3 / 10

Minimum Deposit

$100

Trust Score

Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close

Highly Trusted

Trust Score

Low Risk

• Cost & Funding
• Regulation
• Investment Options
• Trading Platforms
• Apps & Tools

Cost & Fundingexpand_moreexpand_less

Average Spread EUR/USD - Standard	1.0
All-in Cost EUR/USD - Active	1.0
PayPal (Deposit/Withdraw)	Yes
Skrill (Deposit/Withdraw)	No
Visa/Mastercard (Credit/Debit)	Yes

Regulationexpand_moreexpand_less

Year Founded	1999
Publicly Traded (Listed)	Yes
Bank	No
Tier-1 Licenses	4
Tier-2 Licenses	2

Investment Optionsexpand_moreexpand_less

Forex Trading	No
Mobile Trading - Forex or CFDs	Yes
Tradeable Symbols (Total)	5500
Forex Pairs (Total)	91
Bitcoin	Yes

Trading Platformsexpand_moreexpand_less

Virtual Trading (Demo)	Yes
MetaTrader 4 (MT4)	Yes
MetaTrader 5 (MT5)	Yes
Proprietary Platform	Yes
Social Trading / Copy Trading	No
Charting - Indicators / Studies (Total)	203

Apps & Toolsexpand_moreexpand_less

Android App	Yes
Apple iOS App	Yes
Has Education - Forex or CFDs	Yes
Daily Market Commentary	Yes
Forex News (Top-Tier Sources)	Yes
Economic Calendar	Yes

AvaTrade

Overall Rating

8.6 / 10

Minimum Deposit

$100

Trust Score

Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close

Highly Trusted

Trust Score

Low Risk

• Cost & Funding
• Regulation
• Investment Options
• Trading Platforms
• Apps & Tools

Cost & Fundingexpand_moreexpand_less

Average Spread EUR/USD - Standard	0.92
All-in Cost EUR/USD - Active	0.61
PayPal (Deposit/Withdraw)	Yes
Skrill (Deposit/Withdraw)	Yes
Visa/Mastercard (Credit/Debit)	Yes

Regulationexpand_moreexpand_less

Year Founded	2006
Publicly Traded (Listed)	No
Bank	No
Tier-1 Licenses	4
Tier-2 Licenses	4

Investment Optionsexpand_moreexpand_less

Forex Trading	No
Mobile Trading - Forex or CFDs	Yes
Tradeable Symbols (Total)	1260
Forex Pairs (Total)	55
Bitcoin	Yes

Trading Platformsexpand_moreexpand_less

Virtual Trading (Demo)	Yes
MetaTrader 4 (MT4)	Yes
MetaTrader 5 (MT5)	Yes
Proprietary Platform	Yes
Social Trading / Copy Trading	Yes
Charting - Indicators / Studies (Total)	80

Apps & Toolsexpand_moreexpand_less

Android App	Yes
Apple iOS App	Yes
Has Education - Forex or CFDs	Yes
Daily Market Commentary	Yes
Forex News (Top-Tier Sources)	Yes
Economic Calendar	Yes

XM Group

Overall Rating

8.4 / 10

Minimum Deposit

$5

Trust Score

Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close

Highly Trusted

Trust Score

Low Risk

• Cost & Funding
• Regulation
• Investment Options
• Trading Platforms
• Apps & Tools

Cost & Fundingexpand_moreexpand_less

Average Spread EUR/USD - Standard	1.6
All-in Cost EUR/USD - Active	0.8
PayPal (Deposit/Withdraw)	No
Skrill (Deposit/Withdraw)	Yes
Visa/Mastercard (Credit/Debit)	Yes

Regulationexpand_moreexpand_less

Year Founded	2009
Publicly Traded (Listed)	No
Bank	No
Tier-1 Licenses	2
Tier-2 Licenses	1

Investment Optionsexpand_moreexpand_less

Forex Trading	No
Mobile Trading - Forex or CFDs	Yes
Tradeable Symbols (Total)	1372
Forex Pairs (Total)	57
Bitcoin	Yes

Trading Platformsexpand_moreexpand_less

Virtual Trading (Demo)	Yes
MetaTrader 4 (MT4)	Yes
MetaTrader 5 (MT5)	Yes
Proprietary Platform	No
Social Trading / Copy Trading	Yes
Charting - Indicators / Studies (Total)	30

Apps & Toolsexpand_moreexpand_less

Android App	Yes
Apple iOS App	Yes
Has Education - Forex or CFDs	Yes
Daily Market Commentary	Yes
Forex News (Top-Tier Sources)	Yes
Economic Calendar	Yes

Admiral Markets

Overall Rating

8.3 / 10

Minimum Deposit

$100

Trust Score

Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close

Trusted

Trust Score

Low Risk

• Cost & Funding
• Regulation
• Investment Options
• Trading Platforms
• Apps & Tools

Cost & Fundingexpand_moreexpand_less

Average Spread EUR/USD - Standard	0.8
All-in Cost EUR/USD - Active	0.7
PayPal (Deposit/Withdraw)	Yes
Skrill (Deposit/Withdraw)	Yes
Visa/Mastercard (Credit/Debit)	Yes

Regulationexpand_moreexpand_less

Year Founded	2001
Publicly Traded (Listed)	No
Bank	No
Tier-1 Licenses	2
Tier-2 Licenses	1

Investment Optionsexpand_moreexpand_less

Forex Trading	No
Mobile Trading - Forex or CFDs	Yes
Tradeable Symbols (Total)	8425
Forex Pairs (Total)	50
Bitcoin	Yes

Trading Platformsexpand_moreexpand_less

Virtual Trading (Demo)	Yes
MetaTrader 4 (MT4)	Yes
MetaTrader 5 (MT5)	Yes
Proprietary Platform	Yes
Social Trading / Copy Trading	Yes
Charting - Indicators / Studies (Total)	30

Apps & Toolsexpand_moreexpand_less

Android App	Yes
Apple iOS App	Yes
Has Education - Forex or CFDs	Yes
Daily Market Commentary	Yes
Forex News (Top-Tier Sources)	Yes
Economic Calendar	Yes

IC Markets

Overall Rating

8.2 / 10

Minimum Deposit

$200

Trust Score

Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close

Trusted

Trust Score

Low Risk

• Cost & Funding
• Regulation
• Investment Options
• Trading Platforms
• Apps & Tools

Cost & Fundingexpand_moreexpand_less

Average Spread EUR/USD - Standard	0.62
All-in Cost EUR/USD - Active	0.62
PayPal (Deposit/Withdraw)	Yes
Skrill (Deposit/Withdraw)	Yes
Visa/Mastercard (Credit/Debit)	Yes

Regulationexpand_moreexpand_less

Year Founded	2007
Publicly Traded (Listed)	No
Bank	No
Tier-1 Licenses	1
Tier-2 Licenses	1

Investment Optionsexpand_moreexpand_less

Forex Trading	No
Mobile Trading - Forex or CFDs	Yes
Tradeable Symbols (Total)	3583
Forex Pairs (Total)	61
Bitcoin	Yes

Trading Platformsexpand_moreexpand_less

Virtual Trading (Demo)	Yes
MetaTrader 4 (MT4)	Yes
MetaTrader 5 (MT5)	Yes
Proprietary Platform	No
Social Trading / Copy Trading	Yes
Charting - Indicators / Studies (Total)	30

Apps & Toolsexpand_moreexpand_less

Android App	Yes
Apple iOS App	Yes
Has Education - Forex or CFDs	Yes
Daily Market Commentary	Yes
Forex News (Top-Tier Sources)	Yes
Economic Calendar	Yes

Tickmill

Overall Rating

7.9 / 10

Minimum Deposit

$100

Trust Score

Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close

Trusted

Trust Score

Low Risk

• Cost & Funding
• Regulation
• Investment Options
• Trading Platforms
• Apps & Tools

Cost & Fundingexpand_moreexpand_less

Average Spread EUR/USD - Standard	0.51
All-in Cost EUR/USD - Active	0.31
PayPal (Deposit/Withdraw)	Yes
Skrill (Deposit/Withdraw)	Yes
Visa/Mastercard (Credit/Debit)	Yes

Regulationexpand_moreexpand_less

Year Founded	2014
Publicly Traded (Listed)	No
Bank	No
Tier-1 Licenses	1
Tier-2 Licenses	2

Investment Optionsexpand_moreexpand_less

Forex Trading	No
Mobile Trading - Forex or CFDs	Yes
Tradeable Symbols (Total)	295
Forex Pairs (Total)	62
Bitcoin	Yes

Trading Platformsexpand_moreexpand_less

Virtual Trading (Demo)	Yes
MetaTrader 4 (MT4)	Yes
MetaTrader 5 (MT5)	Yes
Proprietary Platform	No
Social Trading / Copy Trading	Yes
Charting - Indicators / Studies (Total)	30

Apps & Toolsexpand_moreexpand_less

Android App	Yes
Apple iOS App	Yes
Has Education - Forex or CFDs	Yes
Daily Market Commentary	Yes
Forex News (Top-Tier Sources)	Yes
Economic Calendar	Yes

BlackBull Markets

Overall Rating

7.9 / 10

Minimum Deposit

$0

Trust Score

Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close

Average Risk

Trust Score

Low Risk

• Cost & Funding
• Regulation
• Investment Options
• Trading Platforms
• Apps & Tools

Cost & Fundingexpand_moreexpand_less

Average Spread EUR/USD - Standard	0.827
All-in Cost EUR/USD - Active	0.827
PayPal (Deposit/Withdraw)	No
Skrill (Deposit/Withdraw)	Yes
Visa/Mastercard (Credit/Debit)	Yes

Regulationexpand_moreexpand_less

Year Founded	2014
Publicly Traded (Listed)	No
Bank	No
Tier-1 Licenses	1
Tier-2 Licenses	0

Investment Optionsexpand_moreexpand_less

Forex Trading	No
Mobile Trading - Forex or CFDs	Yes
Tradeable Symbols (Total)	26000
Forex Pairs (Total)	72
Bitcoin	No

Trading Platformsexpand_moreexpand_less

Virtual Trading (Demo)	Yes
MetaTrader 4 (MT4)	Yes
MetaTrader 5 (MT5)	Yes
Proprietary Platform	No
Social Trading / Copy Trading	Yes
Charting - Indicators / Studies (Total)	30

Apps & Toolsexpand_moreexpand_less

Android App	Yes
Apple iOS App	Yes
Has Education - Forex or CFDs	Yes
Daily Market Commentary	Yes
Forex News (Top-Tier Sources)	No
Economic Calendar	Yes

HFM

Overall Rating

7.7 / 10

Minimum Deposit

$5

Trust Score

Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close

Trusted

Trust Score

Low Risk

• Cost & Funding
• Regulation
• Investment Options
• Trading Platforms
• Apps & Tools

Cost & Fundingexpand_moreexpand_less

Average Spread EUR/USD - Standard	1.2
All-in Cost EUR/USD - Active	0.9
PayPal (Deposit/Withdraw)	No
Skrill (Deposit/Withdraw)	Yes
Visa/Mastercard (Credit/Debit)	Yes

Regulationexpand_moreexpand_less

Year Founded	2010
Publicly Traded (Listed)	No
Bank	No
Tier-1 Licenses	1
Tier-2 Licenses	3

Investment Optionsexpand_moreexpand_less

Forex Trading	No
Mobile Trading - Forex or CFDs	Yes
Tradeable Symbols (Total)	3500
Forex Pairs (Total)	47
Bitcoin	Yes

Trading Platformsexpand_moreexpand_less

Virtual Trading (Demo)	Yes
MetaTrader 4 (MT4)	Yes
MetaTrader 5 (MT5)	Yes
Proprietary Platform	No
Social Trading / Copy Trading	Yes
Charting - Indicators / Studies (Total)	15

Apps & Toolsexpand_moreexpand_less

Android App	Yes
Apple iOS App	Yes
Has Education - Forex or CFDs	Yes
Daily Market Commentary	Yes
Forex News (Top-Tier Sources)	Yes
Economic Calendar	Yes

HYCM (Henyep)

Overall Rating

7.7 / 10

Minimum Deposit

$100

Trust Score

Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close

Trusted

Trust Score

Low Risk

• Cost & Funding
• Regulation
• Investment Options
• Trading Platforms
• Apps & Tools

Cost & Fundingexpand_moreexpand_less

Average Spread EUR/USD - Standard	0.6
All-in Cost EUR/USD - Active	0.6
PayPal (Deposit/Withdraw)	No
Skrill (Deposit/Withdraw)	Yes
Visa/Mastercard (Credit/Debit)	Yes

Regulationexpand_moreexpand_less

Year Founded	1977
Publicly Traded (Listed)	No
Bank	No
Tier-1 Licenses	2
Tier-2 Licenses	2

Investment Optionsexpand_moreexpand_less

Forex Trading	No
Mobile Trading - Forex or CFDs	Yes
Tradeable Symbols (Total)	362
Forex Pairs (Total)	70
Bitcoin	Yes

Trading Platformsexpand_moreexpand_less

Virtual Trading (Demo)	Yes
MetaTrader 4 (MT4)	Yes
MetaTrader 5 (MT5)	Yes
Proprietary Platform	Yes
Social Trading / Copy Trading	No
Charting - Indicators / Studies (Total)	30

Apps & Toolsexpand_moreexpand_less

Android App	Yes
Apple iOS App	Yes
Has Education - Forex or CFDs	No
Daily Market Commentary	Yes
Forex News (Top-Tier Sources)	Yes
Economic Calendar	Yes

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

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.

Comparison of account & trading features

BrokerNotes.co 2023 Overall Rankings

To recap, here are our top forex brokers for 2023, sorted by Overall ranking.

Company	Accepts IN Residents	Overall Rating	Minimum Deposit	Average Spread EUR/USD - Standard	Trust Score	Tradeable Symbols (Total)	Read Review	Visit Site
IG	check	9.9	£250.00	0.86	99	19537	IG Review	Visit Site
Saxo Bank	check	9.7	€2,000	0.9	99	60000	Saxo Bank Review
Interactive Brokers	check	9.7	$0	0.6	99	8500	Interactive Brokers Review
CMC Markets	check	9.6	$0	0.51	99	12377	CMC Markets Review
TD Ameritrade	check	9.5	$0	1.25	99	0	TD Ameritrade Review
FOREX.com	check	9.3	$100	1.0	99	5500	FOREX.com Review	Visit Site
City Index	check	9.2	£100.00	1.0	99	13500	City Index Review
XTB	check	9	$0	1.07	95	12000	XTB Group Review
eToro	check	8.8	$10-$10,000	1	93	3458	eToro Review
Swissquote	check	8.7	$1000	N/A	99	466	Swissquote Review
AvaTrade	check	8.6	$100	0.92	93	1260	AvaTrade Review
FXCM	check	8.5	Starts from $50	1.38	96	440	FXCM Review
Plus500	check	8.5	€100	0.8	98	2800	Plus500 Review
Capital.com	check	8.4	$20	0.6	84	6000	Capital.com Review
XM Group	check	8.4	$5	1.6	90	1372	XM Group Review
Pepperstone	check	8.4	$200	0.77	93	2342	Pepperstone Review
OANDA	check	8.4	$0	1.26	92	124	OANDA Review
Admiral Markets	check	8.3	$100	0.8	87	8425	Admiral Markets Review
FP Markets	check	8.3	$100 AUD	1.2	86	10000	FP Markets Review
IC Markets	check	8.2	$200	0.62	86	3583	IC Markets Review
Markets.com	check	8.2	$100	1.9	98	2179	Markets.com Review
FxPro	check	8.1	$100	1.51	90	2249	FxPro Review
Fineco Bank	check	7.9	$0	N/A	92	126	Fineco Bank Review
Tickmill	check	7.9	$100	0.51	82	295	Tickmill Review
BlackBull Markets	check	7.9	$0	0.827	74	26000	BlackBull Markets Review
DooPrime	check	7.8	$100	N/A	84	10000	DooPrime Review
BDSwiss	check	7.8	$100-$5000	1.6	84	1081	BDSwiss Review
TMGM	check	7.8	$100	0.96	79	12000	TMGM Review
HFM	check	7.7	$5	1.2	85	3500	HFM Review
FlowBank	check	7.7	$0.00	N/A	77	408600	FlowBank Review
HYCM (Henyep)	check	7.7	$100	0.6	86	362	HYCM Review
Vantage	check	7.7	$50	1.22	83	1000	Vantage Review
Trading 212	check	7.6	EUR 10	N/A	77	1785	Trading 212 Review
Eightcap	check	7.6	$100	1.0	87	736	Eightcap Review
Trade Nation	check	7.5	$0	0.6	83	601	Trade Nation Review
Moneta Markets	check	7.5	$50	1.27	71	965	Moneta Markets Review
ThinkMarkets	check	7.4	$250.00	N/A	86	1674	ThinkMarkets Review
VT Markets	check	7.4	$200	1.2	71	168	VT Markets Review
ACY Securities	check	7.4	$50	1.2	77	1600	ACY Securities Review
easyMarkets	check	7.3	$100	0.9	84	199	a href="/reviews/easymarkets">easyMarkets Review
RoboForex (RoboMarkets)	check	7.3	$100	1.4	69	12000	Roboforex (RoboMarkets) Review
IronFX	check	7.2	$50	1.2	84	340	IronFX Review
Exness	check	7.2	$1	0.9	74	112	Exness Review
Spreadex	check	7.2	$0	N/A	70	2000	Spreadex Review
Trade360	check	7.1	$250	N/A	77	1062	Trade360 Review
AxiTrader	check	7.1	0	N/A	83	175	Axitrader Review
GKFX	check	7.1	$0	N/A	66	354	GKFX Review
Vestle	check	7.1	-1	N/A	79	750	Vestle Review
OctaFX	check	7	$25	0.9	67	229	OctaFX Review
FXOpen	check	7	$100	N/A	80	87	FXOpen Review
TeleTrade	check	7	$100	N/A	67	500	Teletrade Review
FXPrimus	check	6.9	$100	N/A	69	140	FXPrimus Review
Forex4you	check	6.9	$0	N/A	62	150	Forex4you Review
LegacyFX	check	6.9	$500	N/A	67	425	LegacyFX Review
GBE brokers	check	6.8	$500	N/A	69	500	GBE Brokers Review
Alpari	check	6.8	$20	N/A	67	105	Alpari Review
TopFX	check	6.7	Depends on payment method	N/A	67	655	TopFX Review
Libertex (Forex Club)	check	6.7	$10	N/A	72	300	Libertex Review
ATFX	check	6.6	$500	N/A	74	150	ATFX Review
UFX	check	6.6	$100	3	62	619	UFX Review
Xtrade	check	6.5	$250	N/A	80	142	Xtrade Review
Tradeo	check	6.4	$200	N/A	67	256	Tradeo Review

More Forex Guides

• Best Forex Brokers
• Best CFD Brokers
• Best Zero Spread Brokers
• Best MetaTrader Brokers
• Best Brokers for Mac
• Compare Forex Brokers

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 Editorial Team

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.