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Forex Brokers in India

Is Forex trading legal in India?

There are ongoing debates about whether Forex trading is legal or not in India. The Reserve Bank of India (RBI) does everything in its power to prohibit Forex trading by individuals. If found trading, individuals will face strict charges for violating the law.

But the truth remains - there are many investors from India who trade Forex & open accounts with foreign brokers. However, you have to remember that the bank will monitor transactions to/from your bank account for any suspicious/unlawful activity related to currency trading.

Are there Forex brokers in India?

We're not aware of any Forex brokers being domiciled in India. But there is a large list of brokers who have international offices in India.

List of Forex brokers with international offices in India:

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Compare Forex brokerIndian forex broker Broker typeIndians forex broker MinIndians forex broker
MaxIndian forex broker
Broker office in IndiaIndian forex broker Regulatedindia forex broker
ACM Gold STP & Market maker$250500:13yesIndependent broker
In industry since: 2004
International offices in: Bangladesh, India, Nigeria, Oman, Pakistan, Tanzania, UAE, UK
BCapitalsFX ECN/STP & STP$10400:10.1 - 0.6yesIndependent broker
In industry since: 2015
International offices in: India, Malaysia, St. Vincent and the Grenadines
Finpro Trading ECN/STP$5200:10.7 - 0.2yesIndependent broker. Finvasia Group
In industry since: 2012
International offices in: Australia, Canada, Germany, India, Seychelles
Formax Prime CapitalECN/STP & STP$1000200:10.6yesIndependent broker
In industry since: 2014
International offices in: Australia, China, Hong Kong, India, New Zealand, Thailand
Grand CapitalECN/STP & STP$10500:12.1yesIndependent broker
In industry since: 2006
International offices in: Azerbaijan, Bangladesh, Estonia, Germany, Ghana, India, Indonesia, Kazakhstan, Latvia, Malaysia, Nepal, Netherlands, Nigeria, Pakistan, Poland, Portugal, Russia, South Africa, Ukraine, Uzbekistan
InstaForexSTP$11000:10yesIndependent broker
In industry since: 2007
International offices in: Bangladesh, China, Ghana, Guatemala, Hong Kong, India, Indonesia, Kazakhstan, Malaysia, Moldova, Nigeria, Pakistan, Peru, Russia, Thailand, Tunisia, Ukraine, UAE
Interactive BrokersECN/STP$300050:10noIndependent broker
In industry since: 2004
International offices in: Australia, Canada, China, Hong Kong, India, Japan, Switzerland, UK
PhillipCapitalECN/STP$200100:11noIndependent broker
In industry since: 1975
International offices in: Singapore, Hong Kong, Thailand, Japan, Indonesia, Malaysia, India, Cambodia, Turkey, UK, United States, France, Sri Lanka, UAE, China
PhillipCapital UKSTP$650400:10.6 - 0.8noIndependent broker
In industry since: 2015
International offices in: Australia, Cambodia, China, France, Hong Kong, India, Indonesia, Japan, Malaysia, Singapore, Sri Lanka, Thailand, Turkey, UAE, United States
Range MarketsSTP$100500:11.4 - 1.7yesIndependent broker.
In industry since: 2015
International offices in: Hong Kong, India
Saxo BankMarket maker$10000100:10.2noBank, independent dealer
In industry since: 1992
International offices in: UAE, Netherlands, Switzerland, Hong Kong, Turkey, South Africa, Cyprus, UK, Italy, Uruguay, Panama, France, Czech Republic, Singapore, Australia, Japan, India
SVSFXSTP$500400:11.9 - 2.5noIndependent broker
In industry since: 2003
International offices in: India
TeleTrade (UAE)STP & Market maker$1100:13yesIndependent broker.
In industry since: 1994
International offices in: Italy, Canada, Portugal, Georgia, UK, India, Vietnam, Greece, UAE, Brazil, Iran, Turkey, Romania, Poland, Czech Republic, Bulgaria, Mexico, Spain, Croatia, Israel, Latvia, Moldova, Ukraine, Russia, Armenia, Egypt, Lithuania, Portugal
XpoFXMarket maker$10400:10.4yesIndependent broker
In industry since: 2015
International offices in: India

Do you know another Indian Forex broker? Please suggest by adding a comment below. Thank you!

Who regulates Foreign exchange in India?

Securities and Exchange Board of India (SEBI) - www.sebi.gov.in
Reserve Bank of India (RBI) - www.rbi.org.in

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Broker discussion area


March 22, 2017

Anyone has an idea about 70trades.

Please help


January 20, 2017

i am not having international cards, hence facing problem in deposit of amount to many brokers.
is there any broker accept deposit by national card. with minimum deposit.


December 21, 2016

s there any brokers available in india for EXNESS ??


November 30, 2016

Uniglobe Markets has no mentioning of representative offices in India on their website.


September 29, 2016

Uniglobe Markets https://uniglobemarkets.com/


September 17, 2016

FXCM and IC Markets have no offices in India.


September 7, 2016

is there any brokers available in india for FXCM or IC Markets


August 7, 2016

Most brokers help in depositing and withdrawal in Indian currencies. There are definetly RBI monitoring same. Please feel free to Whatsapp and discuss on 9900111943 on how we can do it without any challenges


April 1, 2016

in India forex trading inligal but I love forex trading how is best broker in india and office in mumbai


February 19, 2016

any new Forex brokers in India?


December 13, 2015

In India, people are only allowed to trade by transferring money in local currency to the broker office in India. Broker office transfers the funds in US dollars to their main broker office abroad. Trader's Way, Evenforex and CNSinvest are the three brokers that offer this.


July 5, 2015

Mtrading is division of Admiral Markets in india. Mtrading please start with Debit Card in india

Some forex brokers offer their customers special debit cards, which let traders make fast, easy and secure deposits and withdrawals from their accounts.

Of course, these cards can be used as any regular debit card – they're good for point-of-sale payments, ATM withdrawals, etc. Account balances for the cards can often be checked online, so that you can easily manage your finances.

Perhaps the biggest benefit of using a broker debit card is the fact that payments are way faster than let's say bank transfers, and cost a lot less.

Some brokers may charge a small fee for having the debit card issued, however most of them offer them for free if you comply with certain requirements – e.g. make a deposit of a certain amount.

Below is a list of brokers that let you enjoy the goodness of fast and inexpensive deposits and withdrawals through a debit card.


April 22, 2015

Forex trading is Illegal in India as per the Compliance of R.B.I , but there is an exception for corporate investors, They can simply open up a Offshore bank account in countries such as Bangladesh, Dubai, Hongkong,Burmuda,Seysecelles & can fund their forex trading account witn Ease. Completely legal & does not violate any international laws.


February 18, 2015

Thank you!
MTrading is a division of Admiral Markets.
Will be added.


February 18, 2015

admiral markets

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