FGS Markets review - Is fgsmarkets. Forex transactions and Currency Derivatives trading are subject to high monitoring. Octafx provides fixed spread as well as lowest spread account please select while creating MT4 accounts. Account Types You do not need to worry if you have only a small amount to trade currencies. Access to a history of all contract note issued. India to crack down on local bitcoin exchanges Nov 03
Best Forex Brokers in India – TOP 10 List – (August ) Last updated: August 3rd, Below is the list with comparison of the best forex brokers in India in /5(1).
Features of an India Trader Friendly Broker
Forex Broking in India is new and there is still a lot of doubt about its legality but lately some of the major forex brokers have started operating in India.
The list given below is not in the ranked format but talks about the major Forex broker in Indian Market. But before starting to trade in Forex market in India, make sure to understand the intricacies of it.
Please understand which account is better suited for your trading needs. Most of the Forex brokers will need your Identity proof, so either you Passport, Driving license etc. Other than that you will need a address proof so either bank statement or telephone statement will work for it. The brokerage they charge is very low and the liquidity in these contracts have also increased lately.
This is also fully approved by RBI and Govt. The leverage is not very high but if you are just starting to trade in this, it is even better. So, current situation for Forex traders in India does not look very appealing. However, the government is considering lifting the restrictions to allow more popular pairs to be traded by Indian Forex traders.
Let us hope they will lift the limits sooner rather than later. As it is illegal for Indian traders to use online Forex platforms there is not much to be said. However, Forex traders that are not natives and reside in India can trade and use those platforms.
As we expect that this ban will be lifted for Indian traders we will briefly mention what you need to expect from a broker regarding the issue.
If a broker offers a platform that is complicated to use and which is not user friendly you may have serious problems. There are countless of cases when traders wanted to close their positions and actually doubled them experiencing big losses, because they could not figure out how to simply close a long or short position. Good brokers often include a button that can close all of your positions if you need that. In terms of platform, you should be given at least a few options to choose from.
One would be a downloadable platform such as Metatrader 4, another one an online version that could be traded from your favorite browser. Finally, most brokers will offer you a choice to download an app from their website, install it on your smart phone and trade it wherever you go. These can be fixed, variable or fixed with an extra fee. Fixed spreads tend to be the largest in the industry. Variable spreads depend on market conditions.
However, if some fundamental data hits the market you may expect the spread widen to pips per most popular pairs and even more with less popular ones. Occasionally, some companies offer a small fixed spread with an extra small fee per position. So, you can have 0. You do not need to worry if you have only a small amount to trade currencies.
All of the brokers offer leverage, which means you, will be able to open much larger position than your initial deposit. However, you will also have to limit risks. And if you have 10k or more brokers would possibly offer you a standard account. There could be many more variations of the types of accounts, for example, Islamic account where interest accruing rules would not apply or VIP for particularly large sums of money and special services.
You need to contact a broker and discuss your needs with him to find out which type of account fits you best. Forex Rating is the easiest way to choose the right Forex Broker in India from many of online trading companies. Hundreds of companies operate in the Forex market in India, but if you want to succeed in the field of forex trading it is important to make the right choice of the Indian Forex Broker from the very beginning.
Recommended broker status means that this Forex Broker is a reliable provider of services for a long period of time. We are offering you a great way to get more out of Forex trading, by simply referring your friends to Orbex.
If you are already trading with us and have a network of friends who are interested in Forex Cryptocurrencies are already available on the MetaTrader 4 and MetaTrader 5 platforms. Register with OctaFX by opening an account. Having an account allows you to access your personal area on our website and to trade with OctaFX.
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Best Forex Brokers in India Advertising Disclosure Listings that appear on this page and/or on this website are of products / companies / services from which this website may receive compensation. Top Rated India Forex Brokers. To give you some ideas of which are the best Forex Brokers that you can sign up to and trade at, below we have some mini reviews of the top rated India trader friendly Forex Brokers. We always try to provide you our best forex trading service. Contact Us. Why Choose Revenu Trade. Best online forex trading experience; At Revenu Trade, we strive to give you the best online forex trading experience.