India Forex Brokers

Is Forex trading legal in India?


There are ongoing debates about whether Forex trading is legal or not in India.
The Reserve Bank of India (RBI) does everything in its power to prohibit Forex trading by individuals. If found trading, individuals will face strict charges for violating the law.

But the truth remains – there are many investors from India who trade Forex & open accounts with foreign brokers. However, you have to remember that the bank will monitor transactions to/from your bank account for any suspicious/unlawful activity related to currency trading.

Are there Forex brokers in India?

We’re not aware of any Forex brokers being domiciled in India. But there is a large list of brokers who have international offices in India.

List of Forex brokers with international offices in India

BrokerMinimum DepositMaximum LeverageSwap free accountType
ACM Gold$250500:1yesSTP & Market maker
Alpari UK$200500:1yesECN/STP & Market maker
Alpha Trading CM$500-yesSTP & Market maker
BMFN - Boston Merchant Financial$1400:1yesECN/STP & Market maker
Bulls Capital Markets$50500:1yesECN/STP & Market maker
Euro Pacific Bank$2500100:1noDMA/STP & Market maker
IFC Markets$1400:1yesSTP
Interactive Brokers$3000 (age 26 or younger)40:1noECN/STP
IronFX$500500:1yesECN/STP & STP & Market maker
MRC Markets$1-yesECN/STP & Market maker
MTrading$11000:1noECN/STP & Market maker
NordFX$51000:1noECN/STP & STP
Saxo Bank$1200:1noMarket maker
TeleTrade (UAE)$1100:1yesSTP & Market maker
Do you know another Indian Forex broker?
Please suggest by adding a comment below. Thank you!

Who regulates Foreign exchange in India?

Securities and Exchange Board of India (SEBI) –
Reserve Bank of India (RBI) –