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HomeForexCountries
India
Regulated

Best Forex Brokers in India

Last updated May 3, 2026

South & Central Asia • 40 brokers available

40
Brokers
Key Regulator
SEBI
Lowest Min. Deposit
$0
Active Regulators
38 regulators

SEBI (Securities and Exchange Board of India) regulates currency derivatives, but most retail forex speculation on international pairs is conducted via internationally licensed offshore brokers. Traders in India often use global platforms through recognized exchange-based hedging accounts or offshore entities.

Top India Forex Brokers

40 brokers

IC Markets

ASIC, CySEC
4.7/ 5

True ECN routing with raw 0.0 pip spreads on majors plus commission, deep liquidity, and the cleanest MT4 / MT5 / cTrader stack we test.

Min. deposit: $200

Spreads from 0 pips

Commission: $7/lot

Up to 500:1

Read Review

Pepperstone

FCA, ASIC
4.7/ 5

Multi-regulated Australian ECN-style broker with fast execution, MT4 / MT5 / cTrader / TradingView and a strong active-trader rebate program.

Min. deposit: No minimum

Spreads from 0 pips

Commission: $7/lot

Up to 500:1

Read Review

Interactive Brokers

Trending
SEC, FINRA
4.6/ 5

Listed broker with global market access, lowest financing rates we benchmark, and the powerful TWS workstation.

Min. deposit: No minimum

Spreads from 0.2 pips

Commission: $2/lot

Up to 50:1

Read Review

FP Markets

ASIC, CySEC
4.5/ 5

True ECN pricing, all three major platforms, strong ASIC regulation, and IRESS integration for share CFDs - a complete package for active traders.

Min. deposit: $100

Spreads from 0 pips

Commission: $6/lot

Up to 500:1

Read Review

AvaTrade

ASIC, FSCA
4.4/ 5

Heavily regulated across 6+ jurisdictions with a unique AvaOptions platform for vanilla options trading and strong educational content.

Min. deposit: $100

Spreads from 0.9 pips

Up to 400:1

Read Review

Exness

FCA, CySEC
4.4/ 5

Exceptional value for developing-market traders - instant withdrawals, $1 minimum deposit, and ultra-competitive raw spread pricing.

Min. deposit: $1

Spreads from 0.3 pips

Commission: $3.5/lot

Up to 2000:1

Read Review

XM

CySEC, ASIC
4.3/ 5

Low minimum deposit, broad bonus program, and strong educational content. CySEC- and ASIC-regulated.

Min. deposit: $5

Spreads from 0.6 pips

Up to 1000:1

Read Review

Blueberry Markets

ASIC, VFSC
4.3/ 5

Pure ASIC-regulated ECN broker with raw spreads from 0.0 pips and a $8 round-turn commission on the Direct account - a straightforward professional-grade execution desk without the marketing overhead of larger brokers.

Min. deposit: $100

Spreads from 0 pips

Commission: $8/lot

Up to 500:1

Read Review

Admirals

FCA, ASIC
4.3/ 5

Multi-regulated broker with extensive account range, competitive Zero account spreads, strong EU regulation and quality webinar and education content.

Min. deposit: $100

Spreads from 0.5 pips

Commission: $6/lot

Up to 500:1

Read Review

ADS Securities

FSRA, FCA
4.3/ 5

UAE-headquartered broker regulated by FSRA (Abu Dhabi Global Market) and FCA, providing institutional-quality execution and capital markets access to GCC institutional and high-net-worth retail traders.

Min. deposit: $2,000

Spreads from 0.5 pips

Up to 200:1

Read Review

Tickmill

FCA, CySEC
4.3/ 5

Among the lowest commissions available at $6 round-turn on Pro accounts, with strong FCA, CySEC, and FSCA regulation and transparent execution.

Min. deposit: $100

Spreads from 0 pips

Commission: $6/lot

Up to 1000:1

Read Review

FxPro

FCA, CySEC
4.3/ 5

Multi-platform broker with FCA and CySEC regulation, offering all four major retail platforms and transparent raw ECN pricing.

Min. deposit: $100

Spreads from 1.2 pips

Commission: $7/lot

Up to 500:1

Read Review

ThinkMarkets

FCA, ASIC
4.2/ 5

No minimum deposit on standard account, a highly rated ThinkTrader mobile app, and JFSA regulation for Japanese clients.

Min. deposit: No minimum

Spreads from 0.4 pips

Commission: $7/lot

Up to 500:1

Read Review

Global Prime

ASIC, VFSC
4.2/ 5

ASIC-regulated NDD/ECN broker with raw spreads from 0.0 pips and one of the most transparent execution reports in retail forex - a strong choice for active traders who prioritise verified execution quality over marketing.

Min. deposit: $200

Spreads from 0 pips

Commission: $7/lot

Up to 500:1

Read Review

FXOpen

FCA, CySEC
4.2/ 5

Triple-regulated ECN specialist (FCA, CySEC, ASIC) and early cTrader adopter with one of the lowest commission structures in retail ECN - $1.5 per side per lot - making it highly cost-effective for active traders.

Min. deposit: $100

Spreads from 0 pips

Commission: $3/lot

Up to 500:1

Read Review

FXTM

CySEC, FCA
4.2/ 5

CySEC and FCA-regulated broker with broad emerging-market reach, strong copy trading via MyFXBook integration, and a low $10 minimum deposit that makes it accessible to first-time traders.

Min. deposit: $10

Spreads from 1.5 pips

Up to 1000:1

Read Review

Vantage

ASIC, FCA
4.2/ 5

Low minimum deposit, raw ECN pricing, copy trading, and ASIC/FCA regulation make Vantage a strong all-around option for retail traders.

Min. deposit: $50

Spreads from 0 pips

Commission: $6/lot

Up to 2000:1

Read Review

Forex.com

NFA, CFTC
4.2/ 5

One of very few brokers accepting US retail forex clients, with deep research tools and competitive raw spreads for professional accounts.

Min. deposit: $100

Spreads from 1 pips

Commission: $7/lot

Up to 50:1

Read Review

Fusion Markets

ASIC, VFSC
4.2/ 5

One of the lowest-cost ECN brokers globally at $4.50/lot, no minimum deposit, and three platform options - strong value for cost-conscious traders.

Min. deposit: No minimum

Spreads from 0 pips

Commission: $4.5/lot

Up to 500:1

Read Review

HFM

FCA, CySEC
4.1/ 5

No minimum deposit required, high leverage on offshore entity, and copy trading via HFcopy - with FCA, CySEC, and FSCA regulation.

Min. deposit: No minimum

Spreads from 0 pips

Commission: $6/lot

Up to 2000:1

Read Review

FXCM

FCA, ASIC
4.1/ 5

Veteran FCA-regulated broker with strong API support, MT4, and the proprietary Trading Station platform.

Min. deposit: $50

Spreads from 0.4 pips

Up to 400:1

Read Review

Moneta Markets

ASIC, FSCA
4.1/ 5

Multi-regulated broker with ASIC, FSCA, and FSA Seychelles licences, offering competitive raw ECN conditions and a proprietary platform alongside MT4 and MT5 - growing presence in Africa and Asian markets.

Min. deposit: $50

Spreads from 0 pips

Commission: $6/lot

Up to 1000:1

Read Review

BlackBull Markets

FSC, FMA
4.1/ 5

New Zealand-regulated ECN broker with all three major platforms, no minimum deposit on standard accounts, and good Asia-Pacific coverage.

Min. deposit: No minimum

Spreads from 0 pips

Commission: $6/lot

Up to 500:1

Read Review

Deriv

MFSA, VFSC
4.1/ 5

Veteran retail broker with MFSA, VFSC, FSC BVI, and LFSA licensing, best known for synthetic indices - volatility-simulated instruments that trade around the clock - alongside a standard forex and CFD offering.

Min. deposit: $5

Spreads from 0.5 pips

Up to 1000:1

Read Review

Skilling

CySEC, FCA
4.1/ 5

Modern Swedish-founded broker with CySEC and FCA regulation, a visually polished proprietary platform, and cTrader for advanced traders - well-positioned for EU retail clients seeking a contemporary alternative to legacy MetaTrader brokers.

Min. deposit: $100

Spreads from 0.7 pips

Up to 500:1

Read Review

Axi

ASIC, FCA
4.1/ 5

No minimum deposit, strong ASIC regulation, excellent MT4 infrastructure for EA traders, DXtrade for a modern web experience, and competitive Pro account pricing.

Min. deposit: No minimum

Spreads from 0 pips

Commission: $7/lot

Up to 500:1

Read Review

Trade Nation

FCA, ASIC
4.1/ 5

Fixed spreads from 0.6 pips with no commission, no minimum deposit, and strong FCA and ASIC regulation - simple, transparent pricing for cost-conscious traders.

Min. deposit: No minimum

Spreads from 0.6 pips

Up to 500:1

Read Review

NAGA

BaFin, CySEC
4.0/ 5

BaFin-regulated German-headquartered social trading broker with a purpose-built copy trading ecosystem - NAGA Trader merges a social feed, ranked traders, and one-click copy into a single platform.

Min. deposit: $50

Spreads from 0.7 pips

Up to 400:1

Read Review

Windsor Brokers

CySEC, FSCA
4.0/ 5

One of the longest-operating CySEC-regulated brokers, offering standard and ECN accounts on MT4 and MT5 - a solid EU retail offering backed by a track record few Cyprus-based competitors can match.

Min. deposit: $100

Spreads from 0 pips

Commission: $8/lot

Up to 500:1

Read Review

ACY Securities

ASIC, FSA Seychelles
4.0/ 5

ASIC-regulated Australian broker with broad 2,200+ instrument coverage, TradingView integration, and raw ECN accounts - stronger on instrument breadth than on brand recognition.

Min. deposit: $50

Spreads from 0 pips

Commission: $7/lot

Up to 500:1

Read Review

GO Markets

ASIC, CySEC
4.0/ 5

True ECN pricing, three platform options, and ASIC regulation - a solid choice for Australian traders though with a higher minimum deposit than peers.

Min. deposit: $200

Spreads from 0 pips

Commission: $5/lot

Up to 500:1

Read Review

RoboForex

IFSC, CySEC
4.0/ 5

IFSC Belize-regulated broker with a genuine ECN/STP execution model, multiple platform options including cTrader, and a broad 12,000+ instrument range that goes beyond most forex-focused competitors.

Min. deposit: $10

Spreads from 0 pips

Commission: $20/lot

Up to 2000:1

Read Review

OctaFX

CySEC, SVGFSA
4.0/ 5

CySEC-regulated broker (EU entity) with a dominant presence in South Asia through OctaTrader copy trading - a purpose-built social trading interface popular with first-time traders across India, Pakistan, and Indonesia.

Min. deposit: $25

Spreads from 0.6 pips

Up to 500:1

Read Review

TMGM

VFSC, ASIC
4.0/ 5

ASIC-regulated Australian broker with 10,000+ instruments including DMA equities, well-positioned for Asian traders who want Australian regulatory standards alongside a broad asset range.

Min. deposit: $100

Spreads from 0 pips

Commission: $7/lot

Up to 500:1

Read Review

Alpari International

FSC, FSCA
3.9/ 5

Historic retail forex brand regulated by FSC Mauritius, offering MT4 and MT5 with ECN and Standard accounts, widely recognised in the CIS and emerging markets but operating under an offshore licence since the Alpari UK collapse.

Min. deposit: $5

Spreads from 0 pips

Commission: $6/lot

Up to 1000:1

Read Review

easyMarkets

CySEC, ASIC
3.9/ 5

Fixed spreads, unique risk management tools (dealCancellation, freeze rate), and a very low $25 minimum deposit make easyMarkets accessible for risk-averse traders.

Min. deposit: $25

Spreads from 0.7 pips

Up to 400:1

Read Review

FBS

CySEC, IFSC
3.9/ 5

Offshore broker with CySEC and IFSC licensing, dominant in Southeast Asia and MENA through heavy localised marketing and generous bonuses - best evaluated on regulatory strength rather than promotion value.

Min. deposit: $1

Spreads from 0 pips

Commission: $20/lot

Up to 3000:1

Read Review

Libertex

CySEC
3.9/ 5

Long operational history since 1997, zero spread commission model, and very low $10 minimum deposit - though limited to CySEC regulation and restricted markets.

Min. deposit: $10

Spreads from 0 pips

Up to 999:1

Read Review

AMarkets

SVGFSA
3.8/ 5

SVG FSA-regulated broker with genuine ECN conditions on MT4, MT5, and cTrader, a well-regarded PAMM system, and an established following in Russia, Ukraine, and Central Asia.

Min. deposit: $100

Spreads from 0 pips

Commission: $6/lot

Up to 3000:1

Read Review

InstaForex

FSC BVI, CySEC
3.6/ 5

FSC BVI-regulated broker with over 17 years of operation, known for cent accounts and accessible entry conditions for beginner traders in Asia and the CIS - regulatory depth is limited under the offshore BVI framework.

Min. deposit: $1

Spreads from 1 pips

Up to 1000:1

Read Review

Related guide

India’s framework is unique: SEBI regulates currency derivatives on recognised exchanges, while the RBI restricts leveraged OTC forex trading for residents under FEMA. Understanding the boundaries is essential before you trade.

Forex Trading in India: SEBI and RBI Rules Explained

Other South & Central Asia Countries

Armenia
Armenia
8 brokers
Azerbaijan
Azerbaijan
7 brokers
Bangladesh
Bangladesh
17 brokers
Georgia
Georgia
8 brokers

Frequently Asked Questions

Forex trading is regulated in India. The country currently has 40 brokers operating under its regulatory framework. Always verify a broker's licence with the SEBI before depositing funds.

Look for brokers regulated by the SEBI or a Tier 1 regulator such as the FCA or ASIC. Compare spreads, leverage caps, available instruments, and customer support in your language. Our list above is sorted by overall rating to help you shortlist quickly.

Regulated brokers under the SEBI are required to segregate client funds from company funds and participate in investor compensation schemes where applicable. Always check the broker's regulatory status and read the terms before depositing.

Leverage limits vary by jurisdiction. Under SEBI rules, traders in India may be subject to local leverage restrictions, for example capped at 1:30 for major pairs. Check the specific broker's terms for the leverage available to residents of India.

Yes. Most brokers available in India offer iOS and Android apps compatible with platforms such as MetaTrader 4, MetaTrader 5, and cTrader. Look for brokers that list "Mobile Trading" as a key feature.

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