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India local Forex brokers list

Forex Brokers List in India

First of all, you should  know that Forex trading in India is legal or not if legal how to trade and if illegal what are the punishments while trade Forex in India. all these information I would like to share with you as per my knowledge and experience till now as stock trader and blogger.

There are ongoing debates and talks in various website and blogs about whether Forex Trading is legal or not I will say its legal forex trading/currency trading in India but only with pairs like USDINR, GBPINR, EURINR, JPYINR but outside all pair trading is illegal. But there is so many person who want to trade only because there is charting problem in India so Forex pair in India provide MT4/MT5 charting platform which is used world web wide so Forex trader easily create multiple demo/real account with brokers for understanding how actually Forex trading works.

For the demonstration and learning purpose you can create Forex trading account with no issue. But only problem arise if you want to trade real account. 

Recently As you know Forex trading all pairs in India available for trading but you may trade only as per India schedule time not for 24/7 as Forex markets run for .

The Reserve Bank of India(RBI) does everything in its power to prohibit Forex Trading by individuals. If found trading by converting money from INR to USD then individual may face the strict charges or siege the bank account for violating the laws and norms. But the truth remains, There are multiple investor and trader from India who trade Forex  and open accounts with foreign brokers. However, you may have to remember that the banks will monitor all your transactions of your bank accounts for any suspicious and unlawful activity related to Forex trading and currency trading.

Frankly saying in 2019, there is no Foreign company who can run such business legally in India as per RBI strict policy and guidelines.

There is some of Forex Brokers who provide local bank deposits by which you can trade with lesser amount. But its risky as per my knowledge. my aim is to aware and share this information with you. 
Indian Broker List for Forex trading/Currency Trading:-
  1. Zerodha
  2. Sasonline
  3. SBI FX Trade

Foreign Broker List for Forex trading/Currency Trading:-
  2. Mtrading
  3. FBS
  4. Uniglobe Markets
  5. Avatrade
  6. XM
  7. Open FX

Please also note that my written English is not so good if any mistakes I am sorry to you readers. If you like this post please share this posts with your friends & family.

You can also comments if any doubts.

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