If you’re an indian citizen looking for some benefit from the Foreign Market Exchange you should know everything about this activity in your country. First of all, India has decided to make restrictions for currency pairs’: they didn’t want to see Indian Rupee losing value during exchanges with other currencies.

Starting from this essential information, we need to introduce you to another topic: best forex broker in India who offer a professional and trusted trading platform. Let’s see what indian market proposes!

Can I legally trade forex in India?

Generally, we can say that forex trading is legal in India but with some restrictions. The Reserve Bank of India decided to make illegal exchanges between some major currencies and the India Rupee. The reason is that they want to preserve a high value currency. So, you can trade on:

• USD;
• EUR;
• GBP;
• JPY.

The RBI recently approved new currency pairs: EUR/USD; GBP/USD and USD/JPY. We are talking about major Forex pairs, so indian traders can access the most traded assets of this market.

We also know that there are a lot of traders who wonder:”who are the best indian forex brokers? You can discover the answer below!

Best forex broker in India: how to trade in the safest way

Every focused trader always looks for a trusted and regulated broker to live the best trading experience. So, how indian traders can choose the best one?

First of all, you always have to verify that the platform has certifications from world supervisory authorities: ESMA, MiFID. Naturally, they should also be regulated by local authorities such as FCA,  NSA or CySEC.

This is the only way to be sure that you will not lose your money because of scams: trusted brokers must follow restrictive rules to protect their users.  In the wake of these guidelines, we are ready to show you the safest and the most professional indian brokers of the moment.

HotForex

The first one is HotForex: a highly appreciated broker of Middle-East and Asia zones. Here, you can trade on Forex, but we need to be clear: Indian Rupee is a currency not available on this platform. Naturally, the broker offers other currency pairs exchanges: the most profitable ones worldwide.

You can trade with competitive spread and 0 fees, but the advantages are not finished here: if you want to open a micro-trading account, the minimum deposit starts from $5! Please note that the only currencies accepted are USD, EUR or GBP: we think that transparency is the key to successful trading.

eToro

eToro is the best Forex broker all over the world. The reasons of this global success become clear if we analyse the proposed tools on his platform: Social Trading and Copy Trading.

If you’re an inexperienced trader, you can start following popular investors and get their own results immediately: eToro will replay everything automatically on your profile. Actually, there are a lot of users who think that is one of the best tools to learn forex trading simply by observing the most experienced traders in action!

Opening an account with this platform is really easy even for Indian traders: you just have to deposit $200 to receive all the benefits of a trusted and professional platform.

Alpari

Alpari is the only broker who respects SEBI’s regulations, so he plays an essential role for Indian traders. One of the best features of this trading platform is that you can choose among different accounts: if you start with a micro one, the minimum deposit starts from $5! If you feel already expert, there’s an ECN account with a minimum of $500.

Alpari offers Metatrader 4/5 to guarantee you flexibility and advanced tools: the main requirements for dynamic traders who want to enjoy the wide offer of Forex market.

In the end, we want you to know that you can use Indian rupee to make deposits with this platform, without worrying about fees or currency conversion.