Interactive Brokers has made a great effort to make their technology more appealing to the mass market, and its wealth of tools makes the platform one of the best choices for day traders and more advanced investors who can benefit from the extensive capabilities and customizations. You can know more about its features, trading platforms from our review page.
FxPro is best for forex and CFD traders who want a wealth of choices in trading markets. Their range of forex pairs and the ability to trade equity indices, cryptocurrencies, commodities, and futures set them above competitors in the space. FxPro competes among the top MetaTrader brokers, offering the full suite of MT4 and MT5 platforms with multiple accounts and execution methods.
What is expected from the brokers regulated by SEBI?
The primary drawback to an otherwise balanced offering is pricing that is higher than the industry average. CopyTrader and CopyPortfolio give you the ability to locate a successful forex trader and copy their strategy. You can copy traders, and the feature is easy to set up and access. You should consider whether losing your money is a risk you can take.
New Fx traders can explore video tutorials and get started with copy trading. Deposits can be made using Neteller, Skrill, Bitcoin, and Paytm.
Best Forex Brokers In India 2021
You can trade higher limits with a maximum leverage of and negative balance protection. Libertex serves Indian forex traders and is the perfect choice for those who want to trade across a variety of different industries. Leverage rates on Libertex can change dependent on the trades considered by the user. The maximum leverage rate is XM Group.
Forex Brokers in India | Best Indian Forex Brokers
You can trade over 55 global currency pairs and CFDs on indices, commodities, stocks, metals, and energies on its site. Web Trader. There are several factors to be taken into consideration before setting up an account with a broker. Forex markets are complicated. Without the right research, novice investors who set up accounts lose money on the very first trade.
Our Recommended Forex Brokers
Good forex brokers publish research reports and provide on-call guidance to help their clients understand the forex market, what factors affect the currency prices, and how to trade. You should trust and trade your money with those forex brokers who offer the best of what has been described in the article.
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Before you trade global forex, check your forex trading requirements, risk-taking capacity, and local regulations. Not all broker trading platforms are the same, and this is where it gets interesting. Many people even today remain confused about whether Forex trading is legal or illegal in India.
Well, it turns out that it is half-way legal, and that trading currencies is allowed if the traded currency pair includes the INR Indian Rupee. In fact, only four currency pairs can be legally traded in India. Those are:. Also, Internet trading via online platforms is not permitted to Indian citizens. Trading including always the INR is aimed at strengthening the currency and avoiding further weakening.
If the majority of Indians traded the dollar which is the most traded currency outside of India, the Bank would come to a point to be compelled to buy the USD with INR at cheaper rates. That would weaken the already weak national currency, and the Indian government tries to prevent devaluation of the currency. Still, Forex is a highly decentralized market hard to track down, and many European and American brokers established their seats in India and run their businesses normally for their European, American, and other non-Indian clients.
Indian traders are allowed, but at their own risk.
Internationally established brokers are not illegal, only Indian citizens are not allowed to use online platforms, and are restricted to trading with INR and SEBI registered brokers. If the international brokers fit this profile, Indians can trade freely.
Best Forex Brokers in India – TOP 10 List – (Updated: February 2021)
This is also one of the reasons why global brokers profit with regional offices in India. India is one of the countries with the biggest gap between the rich and poor, but that does not affect Forex companies. Since the number of wealthy Indians is pretty much high, the Forex market does not lack Indian clients who seem to have developed a true passion for currency trading. Top Forex brokers in India will offer the best services and link their customers to the best quotes and prices accessible through sophisticated platforms which are in line with the highest industry standards.
Since Forex trading has a lot to do with the right timing, time zones should not be neglected by traders.