The market time in the East and the West is different. An Indian Forex trader should naturally expect service in his native language or a dialect that is widely spoken in the area. The leverage is not very high but if you are just starting to trade in this, it is even better. Admiral Markets Cyprus Admiralex Ltd. FGS Markets review - Is fgsmarkets. Tickmill Tmill UK Limited. And if you have 10k or more brokers would possibly offer you a standard account.
Top Forex Brokers in India for Forex Trading. It does not really matter where you live in the world you are always going to find a large range of Forex Brokers who are going to be able to offer you a range of currency pairings and .
Features of an India Trader Friendly Broker
IQ Option retains an international focus and aims to cater to traders from around the world. IQ Option also adheres to the required standards of identification and users should note that when they register for a trading account they must provide their personal data and verify their email address and telephone contact number. Potential users who are unable to do this will be unable to complete their account registration. Also after funding your account, you will be asked to provide further personal information in order to complete your account verification.
IQ Option will expect to receive copies of identification documents such as:. IQ Option is an impressive platform that provides its users with a great amount of value. The site merges a good level of transparency and functionality and users can be comfortable knowing that the platform is in keeping with the latest financial regulations. Trading on the site is generally quite a smooth experience and the platform utilizes an intuitive UI that is easy to navigate.
The platform and trading application is functional enough for professional traders whilst also being simplistic enough to allow new entrants to painlessly learn the trading process. IQ Option is a company on the rise and has grown to managing almost 15 million accounts and processing 3 million trades per day.
The site does have its drawbacks, and users who require extensive interaction with a customer service agent may be unfulfilled by the two account levels. The site is also proving to be popular with traders around the world and despite IQ Option devoting time and energy to developing its customer service, there is the possibility that users may have to wait for more than 24 minutes in order to have their queries processed.
These nations are home to large numbers of financial literate individuals and the platform would be better off with their presence. However, IQ Option still caters to traders from over countries and provides a comprehensive service to all its users.
The platform caters to stock, Forex, and cryptocurrency traders and individuals who sign up can be sure to interact with an intuitive platform that provides access to a wealth of resources, and trading options. During early days of Discount Brokers, I did not opt for them since I was skeptical and wanted to play safe but later in an assurance from my associate convinced me to change from Kotak Securities Ltd Full Service Broker to Tradejini Discount Broker.
I consider Tradejini as best broker In India because. I have regularly been using their platform to conduct my Trades from past some time now.
Else, there are 2 things, which you need to worry. Forex transactions and Currency Derivatives trading are subject to high monitoring. You loose money if you are not sure of the derivative trading system and patterns. Go for Zerodha the 1 and only best broker , and Experience the Technology. Open your Demat account within just 2 minutes and Enjoy the lowest brokerage with Zerodha.
Account opening is very easy now with aadhaar , enjoy the brokerage and save time and money with zerodha. Their brokerage rates are super cheap as compared to full service brokers and very competitive among its nearby discount share brokers.
India's first discount broker offering the lowest, cheapest brokerage rates in the industry Now, we are breaking ground with our technology. Zerodha continuously strive to empower the retail community by sharing knowledge, providing superior tools and great support, all at a minimal to zero cost. We pioneered the Best discount stock broking model in India. We continuously strive to empower the retail community by sharing knowledge, providing superior tools and great support, all at a minimal to zero cost.
Trading at Zerodha What are the trading platforms offered by Zerodha? Industry standard brokerage is 0. You just pay government and exchange a small fee. Industry standard is 0. This alone made me switch to Zerodha. I traded a lot at start of my trading journey and ended up paying thousands in brokerage to Axis Direct. Zerodha offers higher margin than most of the competitors for intraday trades. Margin is very important for small traders to take higher positions.
Axis Direct was offering 5 times of my trading amount for blue chip stocks while Zerodha offers 10 times. Kite is very simple and intuitive browser-based trading platform. A good match for my non-window Mac and BlackBerry. Axis Direct had a horrible browser-based platform and other brokerages firms are not different. There is no trading software like Pi in India. Pi is very fast and packed with Advanced charting, alerts, Analysis, Back-testing and you-name-it feature. Once you are on Pi, you can never go back.
Most brokerage firms are still in s. Their desktop softwares are complicated, less powerful and badly interfaced. Automated Trading through AmiBroker. Zerodha online trading platform provides a plug-in for AmiBroker, the popular Technical Analysis Software.
Through this a trader can trade directly from AmiBroker software in the semi-automated or fully-automated way based on his own strategies. The trader has to buy the separate license from AmiBroker to use this feature. Zerodha has become the first broker in India to offer Automated Trading through this plug-in. Google 'AmiBroker' to know more about AmiBroker software. Zerodha Quant analyzes your historical trades and provides insights to make you more data-driven trader.
You can see your current profitable streak A challenge , Best day to Trade, Optimal position size etc via Quant. One of the things I love about Zerodha is their constant addition of new features and services. They recently went free for equity investing, started offering collateral margin against your holding, turned Kite into a platform etc.
They also have a very active trading forum called tradingqna. The customer on-boarding experience was wonderful. Zerodha Support was very helpful in the migration period from my old broker. Your queries are resolved via Phone or email quickly and you can also call-to-trade. No Harm in getting extra services: I conducts my trade through Tradejini a Discount Broker. My Experience when them has been a pleasant and profitable one.
These three are also very important parts of the overall offer of every forex broker, in conjunction, of course, with the pairs, leverage and market spread. The types of bonuses that are offered may vary. Many brokers offer a Welcome Bonus, where traders get additional funds, on top of the ones that they deposited. Some brokers offer bonus funds even before the traders make their first deposit. Some traders are new to forex trading and that is why it is only fair for brokers to provide them with the necessary learning materials that will help them improve their understanding of the market fluctuations and forex trading as a whole.
Many brokers allow traders to open a demo account, which will allow them to simulate forex trading without any risk of losing real money. In addition, e-books, videos and even webinars on forex trading are also provided. There are many reasons why you should seriously consider placing Forex trades online, and if you are new to this environment it can often be something of a confusing forex trading environment at first, as there are many different currencies that can be paired together and lots of different trading platforms to choose from.
However, do remember that if you do decide to trade Forex online then at no point in time are you having to actually buy the two currencies you are trading against each other and therefore your costs of becoming a Forex trader are massively reduced. When you chose to trade at any of our top 10 Forex Brokers you are only going to be placing a trade on which way you think one currency is going to move against another, and as such your leverage is far greater online.
Imagine the fuss and hassle involved with having to first buy one currency, and then if it moves in the direction you want it to then finding somewhere to sell that currency to and then buy the other one! Those days are long gone now and you really are going to be amazed at all of the next generation of Forex Brokers listed and fully reviewed throughout this website!
The respective financial authorities of every countries provide licences under which forex brokers are allowed to operate and offer their services to citizens of that particular country.
Can a forex broker based in one country, offer services to residents of other countries? Some countries would require a broker to obtain a licence, others will allow them to operate under a licence issued elsewhere.
It really depends on the local laws. Do forex brokers offer other forms of trading? Many forex brokers also offer contract-for- difference CFD , commodities, as well as stocks and indices and it is possible for traders to use one account for all of them. They are usually open the whole time, but when it comes to trading, it is offered Monday through Friday.
The starting hour on Monday and the closing hour on Friday depends on the pair in question. Is there a deposit limit? Most forex brokers have a deposit limit.
Are forex brokers safe? Are customers allowed to open more than one trading account with the same broker? Some forex brokers allow their customers to open multiple trading accounts, but they are advised to use the same personal details for each of them. Occasionally, some companies offer a small fixed spread with an extra small fee per position. So, you can have 0. You do not need to worry if you have only a small amount to trade currencies.
All of the brokers offer leverage, which means you, will be able to open much larger position than your initial deposit. However, you will also have to limit risks.
And if you have 10k or more brokers would possibly offer you a standard account. There could be many more variations of the types of accounts, for example, Islamic account where interest accruing rules would not apply or VIP for particularly large sums of money and special services. You need to contact a broker and discuss your needs with him to find out which type of account fits you best.
An Indian Forex trader should naturally expect service in his native language or a dialect that is widely spoken in the area. If it is only in English, you better go somewhere else, because the broker probably came just to get, not to give. Online customer support is also something you would expect from a reliable broker. A broker should be there to answer questions, solve issues, discuss problems and offer advice in a fast and effective manner.
Slow customer service is a bad manner of business and you should stay away from such brokers. Extra services are also expected from a reliable broker.
Regulated brokers will inform their customers about risks trading in the markets, offer various kinds of courses on a variety of financial topics, provide video lessons, post financial news feed on their website as well as economic calendar for all traders to see what fundamental factors can affect markets in the nearest future and etc. As you may see there are a lot of things to be taken into consideration before you fund your real money account with some broker.
When you find a broker who offers the best of what has been described in the article you will be able to trust him and trade your money with focus and confidence which will ultimately help you to make money. Best Forex Brokers in India This page may not include all available products, all companies or all services. How to Choose a Forex Broker as an Indian Trader Despite the fact that India is not among the richest countries in the world, it is still open to investments and plays a big role in global financial markets such as Forex.
Account Types You do not need to worry if you have only a small amount to trade currencies. Customer Service An Indian Forex trader should naturally expect service in his native language or a dialect that is widely spoken in the area.
Additional Services Extra services are also expected from a reliable broker. Conclusion As you may see there are a lot of things to be taken into consideration before you fund your real money account with some broker.
TOP FOREX BROKERS
Best Forex Brokers in India – TOP 10 List – (August ) Last updated: August 3rd, Below is the list with comparison of the best forex brokers in India in /5(1). 15 rows · Forex Rating is the easiest way to choose the right Forex Broker in India . Forex market in the country is regulated by SEBI, which stands for Securities and Exchange Board of India. In the institution was authorized to regulate securities and capital markets in the country.