10 Best Forex Brokers in India Compared (Top List 2025)

Forex trading has gained significant popularity in India in recent years. As more individuals show interest in this lucrative market, the demand for reliable and regulated forex brokers has also increased. 

To assist you in making a well-informed decision, we at WR Trading have conducted a thorough analysis of various forex brokers available in India. We have considered factors such as account types, trading platforms, and regulatory compliance. The brokers we recommend are trustworthy and can provide you with a secure trading environment.

These are the Top 10 Forex Brokers for traders in India in 2025:

List of the 10 Best Forex Brokers in India:

#1 BlackBull Markets

BlackBull Markets is a New Zealand-headquartered Forex broker and fintech company that prides itself on speed and precision. It promises its users ECN/NDD execution with deep liquidity through MT4/MT5 trading platforms. BlackBull Markets includes India in its list of accepted countries.

Key Facts About Blackbull Markets: 

Feature	BlackBull Markets
Available in India	Yes
Account Types	ECN Standard, ECN Prime, ECN Institutional
Tradable Instruments	Forex, Cryptocurrency, Commodities, Metals, Equity Indices, Futures
Trading Platforms	MT4, MT5, TradingView, cTrader, Blackbull Invest, Blackbull CopyTrader
Regulation	FSA
Minimum Deposit	$0 (Standard), $2,000 (Prime), $20,000 (ECN Institutional)
Minimum Order	0.01 lot
Leverage	1:500
Spreads	From 0.8 pips (ECN Standard), 0.1 pips (ECN Prime), 0.0 pips (ECN Institutional)
Commission	$0 (Standard), $4 (ECN Institutional), $6 (ECN Prime) per round lot
Accepted Currency	USD, EUR, JPY, GBP, CHF, CAD, AUD, NZD, HKD, XAU, BTC, ETH
Transaction Options	Bank wires, credit/debit cards, Skrill, Neteller, China Union Pay, AstroPay, crypto, Beeteller, Boleto, Fasapay, FxPay, Help2Pay, Payment Asia, Poli, SEPA, Amex, HexoPay, Airtm

#2 FP Markets

FP Markets is a well-established Forex broker that was founded over a decade ago. It is regulated by top-tier authorities, including CySEC, ASIC, FSCA, FSC, ESMA, and FSA ensuring high security. It also offers a wide range of trading platforms and equipment, giving you the flexibility to choose the one that best suits your trading style. Its standard training account fee is a minimum deposit of $100. FP Markets accepts traders from India.

Our comparison shows FP Markets in 2nd place, due to its impressive spreads from 0.0 pips and licenses from over five well-known regulators. Traders can choose from various top platforms such as MT4, MT5, cTrader, IRess, Trading View, and WebTrader.

Key Facts About FP Markets:

Feature	FP Markets
Available in India	Yes
Account Types	Standard account and Raw account
Tradable Instruments	Forex, Cryptocurrencies, Shares, Indices, Metals, Bonds, Commodities, ETFs
Trading Platforms	MT4, MT5, cTrader, TradingView, WebTrader, FP Mobile App, IRESS
Regulation	CySEC, ASIC, FSCA, ESMA, FSA, FSC
Minimum Deposit	$100
Minimum Order	0.01 lot
Leverage	1:500
Spreads	From 0.0 pips (Raw Account), 1.0 pips (Standard Account)
Commissions	$0 (Standard), $3 (Raw Account) per Round Lot
Accepted Currency	AUD, CAD, CHF, EUR, GBP, HKD, JPY, INR, NZD, SGD, USD, PLN, BRL, NGN, ZAR, MXN
Transaction Options	Credit & Debit card, Neteller, Bank transfer, Skrill, Sticpay, ePay, Google Pay, Crypto, Apple Pay, Astro pay, Perfect Money, Online Banking, Bpay, PayPal

#3 Vantage Markets 

Headquartered in Australia, Vantage Markets grew into an international multi-asset broker over the past few years. They offer 40+ currency pairs, and experienced traders can explore plenty of opportunities. There are also no deposit fees or hidden charges. Indian traders are welcome to trade on Vantage Markets.

Key Facts About Vantage Markets:

Feature	Vantage Markets
Available in India	Yes
Account Types	Standard STP, Raw ECN, Pro ECN, Cent, Premium, Swap free
Tradable Instruments	Commodities, Forex, ETFs, Stocks, Gold, Silver, Oil, Bonds, Energies, Indices.
Trading Platforms	MT4, MT5, Vantage App, ProTrader, TradingView
Regulation	CIMA, VFSC, SIBL, ASIC
Minimum Deposit	$50 (Standard and RAW), $10,000 (Pro ECN)
Minimum Order	0.01 lot
Leverage	Up to 1:500
Spreads	From 0.0 pips (Raw ECN and Pro ECN accounts), From 1.0 pips (Standard STP and CENT accounts)
Commissions	$3 (Raw), $0 (Standard), $1.50 (Pro ECN) per round lot
Accepted Currency	AUD, USD, GBP, EUR, SGD, CAD, NZD, JPY, HKD
Transaction Options	Bank wires, credit/debit cards, BPAY, PoLi, Skrill, Neteller, Astropay, Fasapay, Domestic Fast Transfer, International EFT, China Union Pay, JCB, Broker-to-Broker Transfer, Pagsmile, Perfect Money, Thailand Instant Bank Transfer

#4 RoboForex 

This forex broker is one of the fastest growing multi-asset brokers internationally. Headquartered in Belize, RoboForex offers its traders one of the best trading costs and asset selection, allowing you to maximize your trading potential. Traders also enjoy industry protection and extra competitive trading environments. Indian residents can trade on RoboForex.

Key Facts About RoboForex:

Feature	RoboForex
Available in India	Yes
Account Types	Prime, ECN, R Stocks Trader, Pro, ProCent
Tradable Instruments	Commodities, Metals, Indices, ETFs, Stocks, Futures, Energies, Currencies
Trading Platforms	MT4, MT5, R Stocks Trader, R Mobile Trader, R WebTrader, MT 4 MultiTerminal
Regulation	FSC Belize
Minimum Deposit	$10 (Prime, ECN, Pro, ProCent), $100 (RStocksTrader)
Minimum Order	0.01 lot
Leverage	1:300 (Prime), 1:500 (ECN and R StocksTrader), 1:2000 (ProCent and Pro)
Spreads	0.0 pips (Prime, ECN), 0.01 pips (R Stocks Trader), 1.3 pips (Pro, ProCent)
Commissions	$0 (Pro and ProCent)Available (Prime, ECN, and R StocksTrader)
Accepted Currency	USD, EUR, GOLD
Transaction Options	Bank transfers, credit/debit cards, AstroPay, Skrill, Neteller, Perfect Money, STICPAY, QR and Vouchers

#5 Moneta Markets 

This company is the latest subsidiary of the Vantage International Group LTD brand. Although it is in its infancy, the brokerage replicates the excellence of its parent group credentials, Vantage International Group. This group has existed for over 10+ years and processes over 100 billion dollar trades monthly. Traders living in India can trade on Moneta Markets.

Key Facts About Moneta Markets:

Feature	Moneta Markets
Available in India	Yes
Account Types	Direct STP, Prime ECN, Ultra ECN
Tradable Instruments	Forex, Commodities, Indices, ETFs, Share CFDs, Bonds, Metals, Energy, Crypto CFDs, and Index CFDs
Trading Platforms	MT4, MT5, ProTrader, CopyTrader App, App Trader, MetaTrader App, MT4 WebTrader
Regulation	SLIBC, FSCA
Minimum Deposit	$50 (Prime and Direct), $20,000 (Ultra)
Minimum Order	0.01 lot
Leverage	1:1000
Spreads	From 0.0 pips (Prime ECN and Ultra ECN), 1.2 pips (Direct STP)
Commission	$1(Ultra), $3(Prime)
Accepted Currency	USD, GBP, EUR, SGD, JPY, NZD, CAD, BRL, AUD, HKD
Transaction Options	Wire transfers, Debit/credit cards, PayPal, STICPAY, Neteller, Skrill, JCB, FasaPay

#6 Pepperstone

This forex broker offers traders an excellent choice of trading platforms, including MT4/MT5 and cTrader. It also continues to expand its market share through its competitive trading costs, well-balanced asset selection, and high-speed trade execution. Indian citizens can sign up for a trading account with Pepperstone.

Key Facts About Pepperstone:

Feature	Pepperstone
Available in India	Yes
Account Types	Razor, Standard
Tradable Instruments	Commodities, Metals, Currency Indices, Shares, Cryptocurrencies, Forex
Trading Platforms	MT4, MT5, cTrader, TradingView, Pepperstone Trading Platform, Pepperstone Mobile App
Regulation	ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Minimum Deposit	$0
Minimum Order	0.01
Leverage	1:400
Spreads	Raw (Razor), Variable (Standard)
Commissions	$3.5 per lot side (Razor account)
Accepted Currency	USD, EUR, GBP, AUD, CAD, CHF, JPY, NZD, SGD, HKD
Transaction Options	Visa, Mastercard, Bank transfer, PayPal, Neteller, Skrill, MPESA, Flutterwave

#7 IC Trading 

IC trading is a perfect choice for scalpers and algorithmic traders. It maintains high leverage, excellent trading costs, superior liquidity, and low latency connectivity. IC trading allows Indian traders to access their platforms. Here are other key features 

Key Facts About IC Trading:

Feature	IC Trading
Available in India	Yes
Account Types	Raw, Standard, Islamic
Tradable Instruments	Forex CFD, Cryptocurrencies, Commodities, Gold, Indices, Stocks, Bonds
Trading Platforms	MetaTrader 4, MetaTrader 5, cTrader
Regulations	FSC
Minimum Deposit	$200
Minimum Order	0.01 lot
Leverage	From 1:1000
Spread	From 0.0 pips (Raw Account) and from 0.8 pips (Standard Account)
Commissions	$3.5 (Raw MetaTrader), $3 (Raw cTrader), and $0 (Standard) per lot side
Accepted Currency	AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, HKD, CHF
Transaction Options	Bank wires, Credit/debit cards, PayPal, Neteller, and Broker-to-Broker.

#8 XM

Headquartered in Cyprus, XM is a stringently regulated broker that is reliable and safe to trade with. It offers outstanding trading tools, low minimum deposits, and loyalty programs. It also has an upgraded MT4/MT5 trading platform. Traders living in India can join XM.

Key Facts About XM:

Feature	XM
Available in India	Yes
Account Types	Micro Account,  Standard Account, Ultra Low Standard Account, Shares account
Tradable Instruments	Forex, Cryptocurrencies, Commodities,  Stocks, Futures, Energies, Metals, Turbo Stocks, Thematic Indices
Trading Platforms	MetaTrader 4, MetaTrader 5, XM Webtrader, XM Mobile App
Regulations	CySEC, FSC Belize
Minimum Deposits	$5 (Micro, Standard, Ultra Low Standard), $10,000 (Shares Account)
Minimum Order	0.1 lot (Ultra low standard account and Micro account), 0.01 lot (Standard account), 1 lot (Shares account)
Leverage	1:1000
Spread	From 0.8 pips (ultra-low Standard), 1.6 pips (Micro, Standard)
Commissions	Zero commission (Micro, Standard, Ultra low Standard), Available (Shares)
Accepted Currency	USD, EUR, GBP, JPY, CHF, ‎ AUD, HUF, PLN, SGD, ZAR
Transaction Options	Bank transfers, bank cards, e-wallets, and more

#9 FBS

FBS is a Cypriot Forex Broker owned and operated by Tradestone LTD headquartered in Limassol, Cyprus. It was founded in 2009 and is home to over 27,000,000 clients, including Indian traders. According to this broker, 7,000 new accounts are opened daily, and FBS processes one withdrawal request every 20 seconds. Here are some features that make them stand out.

Key Facts About FBS:

Feature	FBS
Available in India	Yes
Account Types	Cent Account, Standard Account
Tradable Instruments	Forex, Metals, Indices, Futures, Energies, Stocks
Trading Platforms	MT4, MT5, FBS App
Regulations	CySEC, FSC Belize, ASIC
Minimum Deposits	$5, but this may vary for different payment systems
Minimum Order	0.01 lot
Leverage	Up to 1:3000
Spread	From 0.7 pips
Commissions	From 0%
Accepted Currency	USD, EUR, XAU, MXN, JPY, CHF, GBP, CAD, AUD, NZD, TRY, SGD, ZAR, SEK
Transaction Options	Over 200+ payment methods. Bank wire transfers, bank cards, e-payment methods, and exchangers

#10 VT Markets 

VT Markets provides traders with quality trading tools, actionable trading signals, and proprietary copy trading services. Traders can also benefit from competitive trading fees, deep liquidity, and a balanced asset selection. Indian citizens can also sign up for a trading account with VT Markets. Here are some of its key features

Key Facts About VT Markets:

Feature	VT Markets
Available in India	Yes
Account Types	RAW ECN account, Standard STP account
Tradable Instruments	Forex, Soft Commodities, Indices, ETFs, CFD Bonds, CFD Shares, Precious Metals, Energies
Trading Platforms	MT4, MT5, WebTrader, TradingView, VT Markets App
Regulations	ASIC, FSCA, FSC Mauritius
Minimum Deposits	$100
Minimum Order	0.01 lot
Leverage	1:500
Spread	From 0.0 pips (Raw ECN) and 1.2 pips (Standard STP)
Commissions	$6 (RAW ECN), $0 (Standard STP) per round turn
Acceptable Currency	AUD, USD, EUR, GBP, HKD and CAD.
Transaction Options	Unionpay transfer, Neteller, Skrill, Fasapay, Mobile pay,  bank cards, EU bank, Vietnam Instant Bank Wire Transfer, Thailand Instant Bank Transfer

Is Forex Trading Legal in India?

Yes, Forex trading is legal in India. However, it is subject to stringent regulations by the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI). Indian citizens can trade forex pairs that involve the Indian Rupee against currencies like INR, JPY, GBP, and EUR. Trading in other currency pairs is illegal and can incur punitive measures, including fines and imprisonment. 

All forex brokers featured on WR Trading’s top list are licensed to operate in India, and you can rest assured that they will abide by the laws in place.

How Are Forex Brokers Regulated in India?

Forex brokers are regulated in India through three entities: the RBI, the SEBI, and the Foreign Exchange Management Act (FEMA). These regulations are responsible for issuing licenses and ensuring the activities of the brokers comply with existing regulations. To avoid scams, it is essential to ensure that your broker is regulated by Indian authorities or at least a tier-one such as the AISC.

Security of the Trading Broker´s Regulation

The SEBI-regulated trading brokers ensure that their investor’s interests are incredibly protected. They do this by:

• Segregating client’s funds
• Ensuring regular audits and compliance checks
• Possessing strict data protection policies 
• Securing online trading platforms 
• Ensuring investor grievance redressal mechanism.

In addition, international regulations such as CySEC and FCA enforce stringent rules, including 

• Capital adequacy requirements 
• Risk management frameworks
• Regular monitoring and reporting 

These mechanisms ensure a secure trading environment and safeguard investors’ assets and personal information.

How to Find Out if Your Broker is Regulated in India 

Verify your broker’s registration with the Securities and Exchange Board of India (SEBI) on their website (sebi.gov.in). You can also check if your broker is regulated by AISC (Australian Securities and Investments Commission) by ensuring they accept Indian clients, CySEC (Cyprus Securities and Exchange Commission) by verifying they have a valid license for Indian clients, and FCA (Financial Conduct Authority) by checking if they are authorized to operate in India.

You can find this at the end of each broker’s website page. You can also verify the regulation by ensuring your broker is a member of a recognized stock exchange (e.g., NSE, BSE) and displays the SEBI registration certificate.

How WR Trading Tested the Best Forex Brokers in India 

Here are some of the ways we at WR Trading tested the best forex brokers in India:

• We checked if the brokers accept clients from India
• We assessed if the broker allows deposits and withdrawals in Rupees 
• We checked for bonuses and promotions allowed for Indian traders 
• We conducted a live customer support test and checked whether customer support was available in Hindi and during local business hours.
• We also found out if there were educational tools to help guide you through the training basics.

Supported Payment Methods for Indian Traders 

Some of the payment methods for Indian traders include:

• Visa
• Mastercard
• American Express 
• Bank transfer
• PayPal
• Neteller
• Skrill
• Union Pay
• USDT
• FasaPay
• MobilePay 
• RuPay
• UPI
• Freecharge 
• Paytm
• Stripe
• AstroPay
• Sticpay 
• Western Union 

Conclusion: The Best Forex Brokers Are Available In India

You can consider our list to help you find the best forex trader that suits your investing strategy if you are looking to trade currencies online. Although the number of currencies available to Indian traders might be small, getting a good broker with good insights can help maximize profits.

Frequently Asked Questions on Forex Brokers in India