How to Choose a Forex Broker as an Indian Trader

Trading with SEBI Forex Brokers in India

Is Forex trading legal in India?.

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 . If you are an Indian trader you will need to work with a reliable forex broker that caters to you. FX Empire are the leading resource on the .

What Qualities Should the Best Brokers Have?

'Used CentrumForex for the first time and was delighted by the amazing service. Got forex within 24 hours of ordering at my doorstep. Selling forex was a cakewalk too.

Take part in different forums, read broker reviews, trade on demo accounts and you will learn very much about the broker's services. While comparing different brokers you will find the best ones and among those best you will choose the one you think is best for you.

IFC Markets is a leading innovative financial company, offering private and corporate investors wide set of trading and analytical tools.

You may compare the advantages of both platforms. Your capital is at risk. Leveraged products may not be suitable for everyone. About Us About Us. Best Forex Brokers Finding the best Forex brokers is the first step to have success in the trading market. These features are the following: Broker reviews are very important and spread easily among investors.

It is not recommended to make an investment into a company with poor reputation and limited trading opportunities. While comparing different Forex brokers investors should take into consideration the length of their operation in the market. They trust and give preference to brokers with, at least, 3 years of experience as FX brokers. Providing high quality support for any technical issue at the professional level is highly important.

Therefore, traders should take into account the professionalism of the broker's staff and the possibility to contact them at any time. India is the second most populous country in the world that is home to one of the largest group of working class people, who have an increased affinity towards investing in the several attractive opportunities available throughout the globe. Forex trading is one of the very new investment concepts in India that was popularized by several brokers promising massive returns with minimal investments.

An increasing number of broker scams and financial malpractices, along with the risky nature of Forex trading, has forced the Indian Government to put severe restrictions on the way Indian citizens are allowed to trade in the Forex markets. The Securities and Exchange Board of India SEBI is a Government appointed regulator that received its statutory powers in to regulate and supervise all financial entities dealing in the securities market. SEBI is responsible for overseeing the activities of brokers, companies, as well as individual investors to ensure that the securities market operates with integrity and transparency without affecting the overall stability of the Indian market.

The SEBI is one of the most influential regulatory organizations in the world that takes the matter of regulating the security markets quite seriously indeed. SEBI regulated brokers are routinely audited and supervised for any financial discrepancies, which has resulted in several brokers, investment firms, securities companies, and investors to receive hefty fines and cancellation of licenses due to the lack of adherence to the SEBI rules.

Indian Forex traders are not supposed to indulge in any currency pairs that does not involve the INR as the base or quote currency. The Indian Rupee is the official currency and the legal tender of the country, and it is illegal for Indian citizens to transact in any other currencies while they are in India. 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.

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It is not recommended to make an investment into a company with poor reputation and limited trading opportunities. Below is a list of brokers that let you enjoy the goodness of fast and inexpensive deposits and withdrawals through a debit card.

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