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27 Best INR Account Forex Trading Brokers

27 Best INR Account Forex Trading Brokers

 

Overview

The rupee is symbolized by ₹ and has a currency code of INR. There is currently 24 trillion in circulation.

The rupee is the 20th most traded currency worldwide with a volume of approximately US$53 billion is traded daily in spot and futures trade. The currency is regulated by the Reserve Bank of India.

The currency has banknotes of ₹5, ₹10, ₹20, ₹50, ₹100, ₹500, and ₹1000, and they feature images of Mahatma Gandhi on one side and Indian Infrastructure, civic and natural features on the other

India is the fourth-largest global economy ranked according to its gross domestic product. It has one of the largest populations among nations, with more than 1 billion inhabitants.

 

 

 

The country has been recognized as an open emerging market economy that has made an effort to liberalize its policies with fewer controls on investment and foreign trade, privatization of state companies, and less regulation of the industry.

The country has a diversified economy based on industry and both large-scale and small-scale farming that has posted growth rates in the last decade of more than 5% annually.

The country’s growth outlook has been recognized as positive due to a youthful population, strong savings and investment rates, and growing integration into the global economy.

India’s top trade partners include the U.S., the United Arab Emirates, Hong Kong, China, Saudi Arabia, Singapore, United Kingdom, Sri Lanka, and Vietnam.

In this article, we explore the 27 best forex brokers that allow trading of the INR, coupled with excellent trading conditions.

Here are our 10 Best Handpicked INR Account Forex Trading Brokers.

 

 

Let’s get started with the full breakdown of the Best INR Account Forex Trading Brokers:

 

Forex.com

 

Overall Rating

4.7/5

Rated #231 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FCA, CySec 

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

50

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

FOREX.com is one of the larger online brokers, owned and managed by a holding company known as GAIN Capital. Some of the benefits they offer to their clients are free to market research, free education, Expert Advisors hosting, tight spreads, and 24/7 customer support.

FOREX.com is a trading name of GAIN Capital UK Limited, a company incorporated in England and Wales, authorized and regulated by the Financial Conduct Authority.

 

Pros and Cons

✔️ PROS ❌ CONS
Low Forex fees Limited asset portfolio
The high number of currency pairs

Well-regulated

High stock CFD fees

 

Features

Feature Information
Regulation FCA, CIMA
Minimum deposit from $50
Average spread from 1 pip
Commissions from Commissions on the commission account only
Deposit/Withdrawal Fees None
Maximum Leverage Variable dependent on instrument traded
Bonuses 20% Welcome Bonus
Customer Support 24/5

 

Swissquote

 

Best Australian Forex Broker Swissquote

Overall Rating

4.5/5

Rated #310 of 
Recommended FX Brokers

💰Minimum Deposit

USD 1000

🌐 Regulators

FCA

📱 Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

📈 Total Pairs

10

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Swissquote Bank Ltd. is a part of the Swissquote Group Holding Ltd., which is one of Switzerland’s leading providers of online financial and trading services.

Since late May of the year 2000, the Group has been listed on the SIX Swiss Exchange and currently consists of almost 700 staff members.

Swissquote is unquestionably a trustworthy and safe choice for forex traders, it offers a good choice of trading instruments, access to deep liquidity pools, and fast execution which would make it a great fit for a majority of traders.

 

Pros and Cons

✔️ PROS ❌ CONS
Comprehensive product portfolio

Solid reputation

No additional forex fees

High trading fees

 

Features

Feature Information
Regulation FCA
Minimum deposit from None for a standard account
Average spread from 1.6 pips
Commissions from None
Deposit/Withdrawal Fees $10
Maximum Leverage 1:400
Bonuses Refer a Friend Bonus
Customer Support 8/5

 

Dukascopy

 

Overall Rating

4.6/5

Rated #17 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FINMA

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

18

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Dukascopy is a Swiss Forex bank and marketplace. This FX trading company has won multiple awards over the years, including the 2018 Award for Best Forex ECN/STP Broker, and the 2017 Award for Best Provider of Liquidity.

The company is based in Geneva Switzerland, and it functions primarily as an online bank and mobile trading platform with a focus on Forex.

 

Pros and Cons

✔️ PROS ❌ CONS
Good choice for high volume traders

Comprehensive analytical tools

Flexible trading on advanced platforms

Good selection of currency accounts

High commission

Charges withdrawal fees

High minimum deposit

Charges inactivity fee

 

Features

Feature Information
Regulation FINMA
Minimum deposit from $100
Average spread from 0.3 pips
Commissions from ‎$49.5 per $1 million traded
Deposit/Withdrawal Fees Varies depending on the method
Maximum Leverage 1:200
Bonuses 10% Equity Bonus
Customer Support 24/5

 

InstaForex

 

Overall Rating

4.8/5

Rated #40 of
Recommended FX Brokers

💰Minimum Deposit

USD 1

🌐 Regulators

CySEC, FSC

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

4

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️Visit Broker

 

Overview

InstaForex is a broker with more than 12 years of experience, giving traders the confidence that they trade in a safe and trustworthy environment.

This global brand offers its customers forex and CFD trading, allowing them to resort to several trading instruments.

The trading brand has earned itself more than 7 million customers worldwide, with many of them appreciating perks like fast order openings, 24/7 support, and a handful of useful functions.

The broker is constantly evolving to offer its customer easier and more innovative trading.

 

Pros and Cons

✔️ PROS ❌ CONS
Relatively high maximum leverage

No minimum deposit

Reputable regulation

 

Features

Feature Information
Regulation CySEC
Minimum deposit from No minimum deposit
Average spread from Average floating 0.8 pips
Commissions from ‎None
Deposit/Withdrawal Fees None
Maximum Leverage 1:1000
Bonuses 30% Deposit Bonus
Customer Support 24/5

 

OctaFX

 

Overall Rating

4.8/5

Rated #8 of
Recommended FX Brokers

💰Minimum Deposit

$5

🌐 Regulators

SVGFSA

📱 Trading Desk

MT4, MT5

Crypto

Yes

📈 Total Pairs

80

☪️ Islamic Account

Yes

📊 Trading Fees

Very Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Official Website

 

Overview

Founded back in 2011 OctaFX quickly became one of the top brokers in the forex industry.

Regulated in the European Union through its license with the Cyprus Securities and Exchange Commission (CySEC) the broker offers premium trading conditions and a choice of several professional trading platforms, including MetaTrader5 and cTrader.

 

Pros and Cons

✔️ PROS ❌ CONS
Ultra-fast execution No VPS available
More than 30 forex pairs available

Well-regulated

No Forex educational tools

 

Features

Feature Information
Regulation CySEC
Minimum deposit from $100
Average spread from 0.7 pips
Commissions from  None
Deposit/Withdrawal Fees None
Maximum Leverage 1:500
Bonuses 50% Deposit Bonus
Customer Support 24/5

 

Darwinex

 

Overall Rating

4.1/5

Rated #287 of
Recommended FX Brokers

💰Minimum Deposit

USD 500

🌐 Regulators

FCA

📱 Trading Desk

Meta Trader 4, Meta Trader 5

Crypto

Yes

📈 Total Pairs

41

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Darwinex has been around since 2012 when they first started their operations in London. They provide technology to allow traders to develop their various skillsets and to create their own track records.

Their technology is paired up with the exchange, which allows traders to have a regulatory cover. They are regulated by authorities in the United Kingdom (FCA) and the European Union (MiFID).

 

Pros and Cons

✔️ PROS ❌ CONS
Competitive spreads

Three base currencies available

You have to sign up either as a trader or an investor

20% performance fee

Complicated account opening process

 

Features

Feature Information
Regulation FCA
Minimum deposit from $500
Average spread from 0.0 pips
Commissions from 3.0 USD per lot round-trip
Deposit/Withdrawal Fees 0.5% for Skrill
Maximum Leverage 1:30
Bonuses None
Customer Support 24/5

 

AxiTrader

 

Overall Rating

4.6/5

Rated #70 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

ASIC, DFSA, FCA, FSA

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

66

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

Axi

 

Overview

AxiTrader started operating back in 2007. It is now regulated by several financial authorities that include the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Dubai Financial Services Authority (DFSA).

AxiTrader has many forex products available for you to trade. They have a stock index, crypto CFDs, and commodities. Their offering is average, seeing as they do not offer ETFs or CFDs.

 

Pros and Cons

✔️ PROS ❌ CONS
No Minimum Deposit Limited research tools
MetaTrader 4 available

 

Features

Feature Information
Regulation ASIC, FCA, DFSA
Minimum deposit from No minimum deposit
Average spread from 1.24 pip
Commissions from  $ 7 commission charged per round
Deposit/Withdrawal Fees None
Maximum Leverage 1:400
Bonuses 20% Deposit Bonus
Customer Support 24/5

 

FP Markets

 

Overall Rating

4.7/5

Rated #23 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

ASIC, CySEC

📱 Trading Desk

MT4, MT5

Crypto

Yes

📈 Total Pairs

60

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

FP Markets provides access to over 13 000 trading instruments. These include more than 65 currency pairs, CFDs on commodities, indices, stocks, precious metals, and even cryptocurrencies like Bitcoin, Bitcoin Cash, Litecoin, Ripple, and Ethereum.

And on the Iress platform clients of FP Markets can trade in thousands of share CFDs across 9 international exchanges.

 

Pros and Cons

✔️ PROS ❌ CONS
Low forex fees High stock CFD Fees
Streamlined and fast account opening process

Fast processing for deposits and withdrawals

Limited product portfolio

 

Features

Feature Information
Regulation Australian ASIC, Cypriot CySEC, SCB
Minimum deposit from $100
Average spread from 0.5 pips
Commissions from  $55 monthly commission for IRESS Trader users only
Deposit/Withdrawal Fees None
Maximum Leverage 1:500
Bonuses $30 Welcome Bonus
Customer Support 24/5

 

HotForex

 

Overall Rating

4.8/5

Rated #6 of 
Recommended FX Brokers

💰Minimum Deposit

USD 5

🌐 Regulators

CySEC, FCA, FSA, DFSA, FSCA, CMA

📱 Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

📈 Total Pairs

47

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

HotForex is an international broker that specializes in offering CFDs and forex to clients from around the world.

Currently, the broker has opened more than 1,500,000 accounts, received more than 30 industry awards, has more than 200 employees around the world, and supports more than 27 languages.

 

Pros and Cons

✔️ PROS

No deposit or withdrawal fees

Competitive spreads

❌ CONS

High commission charges on the Zero account

 

Features

Feature Information
Regulation CySEC, DFSA, FCA, FSA, FSCA
Minimum deposit from $5
Average spread from 0,0 pips
Commissions from USD 0.03 per 1K lot.
Deposit/Withdrawal Fees None
Maximum Leverage 1:1000
Bonuses 100% Supercharged Bonus
Customer Support 24/5

 

Alpari International

 

Overall Rating

4.7/5

Rated #70 of 
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FSC 

📱 Trading Desk

MT4, MT5

Crypto

Yes

📈 Total Pairs

48

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Alpari has managed to conquer the Forex market since it was founded in 1998. Currently, Alpari remains at the peak of his popularity for quite a long time and is a leader in the various Forex brokers’ ratings.

Also, Alpari is a frequent sponsor and partner of sports and charity events.

Today Alpari is the world’s leading brand, which successfully offers its services to work with financial markets for 18 years.

It unites several companies at once, thereby providing access to the international interbank currency market all around the world – Europe, Asia, the USA, and New Zealand.

 

Pros and Cons

✔️ PROS

Advanced copy trading software available

A wide selection of tradable assets

Low minimum deposit

Excellent multilingual customer support

❌ CONS

High trading fees

Limited educational resources and research tools

 

Features

Feature Information
Regulation Financial Services Commission (FSC)
Minimum deposit from $100
Average spread from 1.2 pips on majors
Commissions from charged at 4 units of the Base currency
Deposit/Withdrawal Fees None
Maximum Leverage 1:1000
Bonuses Cashback Promotion
Customer Support 24/5

 

LiteForex

 

Overall Rating

4.7/5

Rated #197 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

Marshall Islands

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

7

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

LiteForex is a high-tech reliable ECN broker with a strong reputation. The online ECN broker LiteForex has been providing its clients access to Tier 1 liquidity in the currency, commodity, and stock market since 2005.

All major currency pairs and cross rates, oil, precious metals, stock indexes, blue chips, and the largest set of cryptocurrency pairs can be traded at LiteForex.

 

Pros and Cons

✔️ PROS ❌ CONS
Social trading available

MetaTrader 4 and 5 available

Multilingual customer support

Limited trading instruments

No VPS available

 

Features

Feature Information
Regulation Marshall Islands Business Corporation Act
Minimum deposit from $50
Average spread from 1.9 pips
Commissions from No commissions
Deposit/Withdrawal Fees None
Maximum Leverage 1:1000
Bonuses 100% forex deposit bonus
Customer Support 24/5

 

FXTM

 

Overall Rating

4.6/5

Rated #32 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

CySec, FSCA 

📱 Trading Desk

MetaTrader4, Metatrader 5

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

FXTM or ForexTime is an international broker that has been around since the year 2011. It is one of the fastest-growing forex brokers and recently crossed the 1 million clients mark in 2018.

The broker allows beginner traders as well as corporate investors to trade in over 50 currency pairs, spot metals, indices, CFDs, as well as share CFDs.

 

Pros and Cons

✔️ PROS ❌ CONS
Superb customer service Inactivity and withdrawal fees
High maximum leverage Limited product portfolio
Great educational tools

 

Features

Feature Information
Regulation CySEC, FCA, FSCA
Minimum deposit from $100
Average spread from 0.9 pips
Commissions from No commission
Deposit/Withdrawal Fees $3
Maximum Leverage 1:500 on average
Bonuses $300 Trading Bonus
Customer Support 24/5

 

easyMarkets

 

Overall Rating

4.9/5

Rated #18 of
Recommended FX Brokers

💰Minimum Deposit

$100

🌐 Regulators

CySEC, ASIC, BVI, FSA

📱 Trading Desk

MetaTrader 4, TradingView

Crypto

Yes

📈 Total Pairs

275+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

easyMarkets was established in 2001 and is regulated by the Australian Securities and Investments Commission (ASIC) and Cyprus Securities & Exchange Commission (CySEC). They are also awarded by FX Empire the for best trading platform in 2017.

easyMarkets offers a fixed spread with no commission on trading to their customers. Moreover, there are lots of features available like Freeze rate, Deal Cancellation, and many more.

 

Pros and Cons

✔️ PROS

The highly simulated demo environment

Responsive and professional customer support

❌ CONS

The Proprietary Deal Cancellation feature is not available on the MetaTrader 4 platform

 

Features

Feature Information
Regulation CySEC
Minimum deposit from $100
Average spread from 0.9 pips
Commissions from None
Deposit/Withdrawal Fees None
Maximum Leverage 1:400
Bonuses $25 Sign Up Bonus
Customer Support 24/5

 

 

IG Group

 

Overall Rating

4.8/5

Rated #38 of 
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF.

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

80

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

IG began in 1974 and boasts the title of the world’s first spread betting company. They began as a way for investors to trade and speculate on the price of gold. Now they have grown to become a member of the FTSE 250 and have offices across 17 different countries.

They are authorized by the FCA and have been established as a market leader across the globe for more than 40 years now.

 

Pros and Cons

✔️ PROS

Excellent customer support

An advanced suite of technical indicators

The secure and well-regulated trading environment

❌ CONS

A demo account is only available for 30 days, and not all platforms can be tested

Limited range of currency options

 

Features

Feature Information
Regulation FCA, FSCA
Minimum deposit from No minimum deposit
Average spread from Variable
Commissions from £3.00 – £8.00 per trade for all types of assets
Deposit/Withdrawal Fees None
Maximum Leverage 1:200
Bonuses None offered
Customer Support 24/6

 

XTB

 

Overall Rating

4.6/5

Rated #69 of
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

FCA, CySEC, IFSC, KNF

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

48

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

XTB

 

Overview

XTB is a CFD and Forex broker that offers trading on 1,500 instruments via xStation its online trading platform. XTB focuses on the most liquid markets and does not offer access to exotic or smaller cap trading.

The trading platform has some unique tools like the ability to basket together stocks, indices, commodities, and forex pairs to be traded at once. There are also some excellent analysis and education tools attached to the platform.

 

Pros and Cons

✔️ PROS

Low trading fees

Free deposit and withdrawal

❌ CONS

High stock CFDs

Limited asset portfolio

 

Features

Feature Information
Regulation KNF, FCA, CySEC and IFSC
Minimum deposit from $250
Average spread from 1.02 pips
Commissions from 0.08% of trade value with an $8 minimum
Deposit/Withdrawal Fees $30 on withdrawals of less than $50
Maximum Leverage 1:500
Bonuses $40 No Deposit Bonus
Customer Support 24/5

 

Fibo Group

 

Overall Rating

4.7/5

Rated #199 of
Recommended FX Brokers

💰Minimum Deposit

USD 50

🌐 Regulators

CySEC

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker