forex brokers

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Overview

Forex trading is a lucrative endeavour enjoyed by many retail and institutional traders from around the world, regardless of whether currencies are exchanged for business or speculation and profits.

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There are hundreds of brokers around the world, but not all of them are regulated. For Indian traders to ensure that they have the best trading conditions possible and client fund security, they can consider some of the following best forex brokers that accept Indian forex traders. 

Alpari

Features

Alpari is a popular online forex and CFD broker that has been in operation since 1998, offering its services to more than 2 million traders in over 150 countries worldwide, including India.

Alpari is based in Mauritius, but also has offices in Russia, Nigeria, and Saint Vincent and the Grenadines, with other offices run by affiliates and partners. Alpari is known for its instant execution speeds, competitive spreads, and innovative trading solutions.

Alpari offers a wide range of tradable instruments that can be traded through some of the most powerful and user-friendly trading platforms in the industry, MetaTrader 4 and 5. 

Pros and Cons

PROS

CONS

Member of the Financial Commission

Fixed spreads are not provided

Signals provided through AutoChartist

Limited tradable instruments

PAMM Accounts provided

Educational materials are not comprehensive

Offers MetaTrader 4 and 5

 

Provides customer support in 30+ languages

 

AvaTrade

Features

AvaTrade is one of the most popular forex and CFD brokers in the world, offering over 1,250 tradable financial instruments that are spread across several asset classes.

AvaTrade is well-known for its award-winning trading solutions, services, and user-friendly trading platforms, including an innovative proprietary trading platform. AvaTrade offers Indian traders a safe, fair, and transparent trading environment in which their funds are protected, and where the broker ensures the best trading conditions.

AvaTrade is synonymous with competitive trading fees, commission-free trading, fast and reliable trade execution speeds, and reliable funding options. 

Pros and Cons

PROS

CONS

Strict regulation through several entities

Variable spreads are not offered

Multiple industry awards won since its inception

 

Tight spreads and commission-free trading

 

Powerful trading platforms offered

 

Supports a wide range of trading strategies

 

Large selection of tradable instruments

 

XM

Features

XM is an award-winning, globally established, and well-regulated online forex broker that has more than 2.5 million registered clients in 196 worldwide countries. XM is well-known for offering no requotes, tight and competitive spreads, fast execution speeds, low commissions, and more.

Indian clients can expect that there is negative balance protection applied to all retail investor accounts and that they can trade a wide range of different instruments spread across several global financial markets, including currency derivatives, stocks, indices, and more.

XM also offers Indian clients access to Indian exchanges and a wide range of different stocks, ETFs, and other tradable options. XM allows traders to use any trading strategy and offers the benefit of a low minimum deposit according to the account that traders register. 

Pros and Cons

PROS

CONS

Negative balance protection added to accounts

Fixed spreads are not offered

Multi-award-winning broker

Inactivity fees are charged

Accepts any trading strategy

 

Free VPS offered

 

Low spreads, competitive commissions, and fast trade executions

 

FXTM

Features

Forex Time (FXTM) is a well-regulated and reputable online forex broker that provides retail traders from around the world access to different financial markets, offering the trade of over 250 financial instruments.

FXTM has more than a million registered traders, with the focus on continual improvement of products as well as services, allowing the forex broker to remain a step ahead of the competition in trading technologies and solutions. 

Pros and Cons

PROS

CONS

Well-regulated broker

Inactivity fees are charged

Flexible funding options offered

 

Tight spreads and rapid trade execution speeds

 

Commission-free trading offered

 

Advanced trading tools provided

 

Large selection of educational materials

 

You might like: 5 Things to know about forex trading in India.

FP Markets

Features

Founded in 2005, FP Markets is a well-established and regulated forex broker that offers award-winning ECN trading conditions to traders from around the world.

With FP Markets, Indian clients can trade more than 10,000 financial instruments spread across several asset classes including foreign currency, commodities, shares, and many more. 

Pros and Cons

PROS

CONS

ECN Model with raw spreads from 0 pips

Fixed spreads are not offered

No-Dealing Desk model

 

Commission-free trading

 

No inactivity fees

 

Islamic accounts offered

 

24/7 customer support provided

 

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