Trading Forex In India?

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Best Broker Choices Guide To Trading Forex In India…
 

India has become a huge market for Forex (FX) trading as investors and speculators start to spice up their portfolios in CFDs. There are a few questions to consider before picking a broker. The first of which, is trading FX legal in India? The short answer is, no but that doesn't mean you can't trade offshore.

Starting with Regulation:
 

Most think that FX and CFD trading is regulated by the Securities and Exchange Board of India (SEBI), but they don’t have direct oversight over the forex market. Instead, forex trading falls under the jurisdiction of the Reserve Bank of India (RBI), India's central banking authority. So if you want to trade legally in India, you need to trade through an Authorized Forex Brokers or you can trade through an offshore broker.

The first and foremost consideration when choosing a Forex broker is ensuring a reputable authority outside of India regulates them, this means a Tier 1 licence (FCA, ASIC, CYSEC etc.) This ensures that you still have protection as a trader.

Spreads and Commissions: Irrespective of which broker you choose, a trader should always be targeting brokers with low costs. Remember, trading is like running your own business, you wouldn't pay $100 dollars for something that you could get for $1. This is why we recommend Fusion Markets, and they are highly revered in the trading industry and offer the lowest-cost brokerage globally. Make sure to use their Zero account if you are just getting started.

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“We cant over state it, we love Fusion Markets, they have been our top pick for a long time, feel free to test them out yourself. Open an account with Indias lowest cost forex broker.”

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Trading Platform: Trading platforms are important, these are the builder's tools, without the right tools, you can’t build the right house. We recommend the following platforms:

TradingView: TradingView is a popular web-based platform that offers advanced charting tools, social networking features, and a wide range of technical analysis indicators. Traders can access real-time market data, share trading ideas, and execute trades directly from the platform. It's the most popular platform globally and for a reason, we like to call it a Bloomberg terminal for new traders.

cTrader: cTrader is a powerful trading platform known for its user-friendly interface and advanced functionality. It offers features such as one-click trading, customizable charting tools, and access to a wide range of markets.

MetaTrader 4 & 5 (MT4): MetaTrader is one of the most widely used trading platforms in the world, known for its robust charting capabilities, automated trading options, and extensive library of technical indicators and expert advisors. It’s a little clunky but it’s one of the most reliable platforms and has been around the longest.

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Deposit and Withdrawal Methods: having a broker that has a wide variety of options to deposit is key, especially in India. This is because reliable payment service providers in India are hard to come by, so you need to find brokers that have alternative solutions to traditional payment methods. After speaking with hundreds of traders, we understand that Crypto deposits and withdrawals are a huge benefit. Fusion Markets covers all Crypto fees and has a wide range of other free and instant deposit and withdrawal methods. 

Reputation, Reviews and Support: also be sure to search your broker on our two favourite review platforms, if your broker is not above a 4.3 stars on either of these, we’re sorry to say but they are probably not the best out there, it’s time to switch! A strong presence online means that one their reputation is strong, and two, they obviously are going above and beyond to service there clients and most likely do care about providing you with a high-end experience. See Fusion Markets reviews below:














We cant over overstate it, we love Fusion Markets, they have been our top pick for a long time, feel free to test them out yourself. Open an account with Indias lowest cost broker in India.