Everyone is familiar with stocks and equity trading. However, there is a high-potential market that many people are unaware of. This is referred to as currency trading. Allowing foreign currency exchanges gives you the possibility to profit if you can detect the correct opportunity and exploit it to your advantage. Forex and currency trading are very popular businesses in India. It is also a terrific approach to supplement your existing wages with some extra profits or side money. That’s correct; to become a high-earning forex trader, you must understand the market, trading methods, and so on. If you are a newbie, you can learn about forex trading in India.
What Exactly is Forex?
Forex trading, currency trading, and FX trading refer to the buying and selling of currency pairs for hedging, speculation, or arbitrage.
[Read more about What Is Forex Trading? ]
List of Top 10 Forex Trading Brokers in India
GoDoFX is an online trading platform that gives unrivaled trading experiences at the most affordable pricing. It provides gold, stock CFDs, forex, indices, and oil trading services. Trading regulations are strictly followed to guarantee that traders get the best benefits from each trade. Furthermore, customer care is available seven days a week, 24 hours a day. GoDoFX can assist you in finding trading services that match your needs, regardless of your trading expertise or background. Whether you are a seasoned or beginner trader, there is something for everyone, making them the best forex brokers in India.
What makes GoDoFX India’s Top Forex Trading Firm?
- Free Registration
GoDoFX allows you to sign-up for free.
- Quick Investing
Trading with GoDoFX is quick and simple because there are no extra delays or ambiguity in the process. Account registration, document verification, fund deposit, and becoming a member to trade are all steps in the GoDoFX procedure.
- Customer Service is Easily Accessible
Customer service is provided 24 hours a day, seven days a week at GoDoFX. Call +971 45844544 or send an email to firstname.lastname@example.org. You can also contact the support team by filling out an inquiry form on the website. In addition, if necessary, you will receive multilingual assistance.
Plus500 UK Ltd, authorized and regulated by the UK Financial Conduct Authority, provides the Plus500 trading platform. Plus500 UK Ltd is also a subsidiary of Plus500 Ltd, a London Stock Exchange-listed company. The broker’s trading platform is available in over 50 countries. It is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), the Monetary Authority of Singapore (MAS), and the Israel Securities Authority (ISA), among others.
IG (LSE: IGG), a globally regulated and reputable company provides traders with the ultimate bundle of outstanding trading and research tools, industry-leading education, competitive pricing, and a wide variety of tradeable items. Because of this amazing all-around experience, IG will be the best FX broker in 2021. (Around 73% of individual investor accounts lose money.)
FXTM, an abbreviation for ForexTime, is a platform that mostly focuses on foreign exchange. Because of its specialization, it can outperform many others regarding Forex trading platforms and tools. CFDs are accessible on more than 50 currency pairings, including major, minor, and exotic currency pairs. Leverage is available in multiples of 1000:1. Spreads are competitive across all platforms, and trading is available 24 hours a day, five days a week. The International Financial Services Commission (IFSC), the Cyprus Securities and Exchange Commission, and other EU and non-EU bodies govern FXTM, which is based in Cyprus. There’s a free trial account available.
#5. Saxo Bank
Customers who can afford the USD 10,000 minimum deposit (GBP 500) can trade over 40,000 products on Saxo Bank’s superior trading platforms. (Sixty-four percent of retail investor accounts hold the risk of losing their money.)
In addition to forex, XTB now offers CFDs on stocks, ETFs, and cryptocurrencies. XTB offers low-cost spreads on 48 currency pairings. XTB customers can trade on xStation five or MT4. In addition, the brokerage offers 200:1 leverage for leveraged accounts.
CMC Markets is a worldwide trusted broker with great pricing and approximately 10,000 tradeable instruments. In addition to superior research, cutting-edge trading tools, and dynamic charting, CMC Markets (LSE: CMCX) offers the greatest FX trading platform. (Seventy-two percent of retail investor accounts hold the risk of losing their money.)
[ Don’t forget to read: Forex Trading Courses in India ]
#8. IC Markets
IC Markets was established in 2007 in Sydney, Australia, and is governed by the ASIC and the Seychelles Financial Services Authority (FSA). The broker processed $646 billion in trading volume in April 2019.
#9. Interactive Brokers
Professional FX and CFD traders will enjoy Interactive Brokers’ worldwide multi-asset trading platform and low costs. In addition, Interactive Brokers (IBKR) offers advanced order types and global market access. (Sixty-six percent of retail investor accounts hold the risk of losing their money.)
The think or swim interface from TD Ameritrade offers US forex traders almost 80 currency pairs to trade along with a wealth of trading tools and research. TD Ameritrade (NASDAQ: AMTD) also offers currency ETFs and exchange-traded FX futures and options.