There are several hundreds of Forex brokers operating in India. Each of them has their own features, but not all of them are reliable and offer good conditions. Traders Union experts selected the Best Forex Brokers in India.
In order to trade successfully in the financial markets, it is important to choose the right broker. This is relevant for India, where hundreds of companies offer their services. However, their trading conditions differ, and not all of them are equally reliable. Therefore, It is important to analyze companies in detail and choose the one that suits you the best. Traders Union experts selected the Best Forex Brokers in India. The list features the best companies operating in the country.
How do Traders Union experts choose the best brokers?
TU experts use a tailor-made methodology, which consists of more than 100 criteria, for selecting the best Forex broker in India. In particular, the follow features of companies are evaluated:
- Company's reliability;
- Trading and non-trading fees;
- Selection of trading instruments;
- Deposit/withdrawal methods;
- Quality of the broker's support service;
- Education for beginners;
- Analytics for traders, etc.
Traders Union experts also evaluate the number of features of account types, the number of supported account currencies, and other factors.
What determines a broker's reliability?
There are 3 main criteria to consider when choosing a truly reliable broker, including the following:
- License. Brokers with the license issued by the SEBI operate legally in India. Also companies with licenses from reliable jurisdictions can be considered. The EU, UK, U.S., Australia are considered reliable jurisdictions.
- Company's track record. The longer the broker has been in the market, the more trust it inspires.
- Registration information. It is important that the broker is registered in India or another reliable jurisdiction.
It is also important to analyze reviews about the company before making a choice.
Best Forex Brokers in India
Based on the analysis of over 200 brokerage companies offering services in India, Traders Union experts selected the 17 most reliable brokers. The list includes the following companies:
- RoboForex
- Exness
- Tickmill
- IC Markets
- Pocket Option
- Amarkets
- Forex4You
- InstaForex
- XM
- Multibank и т.д.
Traders Union named RoboForex the best broker in India. The broker is licensed in Cyprus and is regulated in compliance with EU law. The broker offers good trading conditions, copy trading as a passive income option, education for beginners, etc.
