The Best Forex Brokers in India for 2025
With online trading in India booming, FX Trust Score has put together the Best Forex Brokers in India for 2025 to help traders make a better-informed choice. The popularity of forex trading in India has increased significantly over the past decade, with a growing number of active traders accessing the global markets. Until recently, India was a largely untapped area for global brokerages, before technological advancements made trading more accessible across the country. Today, it is a market with huge potential, with India currently the world’s largest country by population, just ahead of China.
Below, we present a leaderboard of the Top Forex Brokers in India, containing the top five companies available to Indian traders based on hours of analysis and testing. Throughout the examination process, each broker was evaluated using our proprietary FX Trust Score Index scoring mechanism. Using the index’s unique methodology, a range of factors were assessed, including; regulatory compliance, security and fund protection, customer support, localisation and online reputation.
In addition, we reviewed the entire user experience for Indian traders, from the moment they first enter the broker’s website to opening a live trading account. We decided to focus on the most trusted Forex Brokers in India that specifically prioritise the needs of Indian traders. That is why we only feature companies that offer the Hindi language on their website and customer support service. We also ensured that every shortlisted broker was fully licensed and authorised by a reputable financial regulator. Check below to see who made the leaderboard and why they were top performers.
Best India Brokers Leaderboard
Exness
Rating: 4.65 / 5
Wide Range of Asset Types Multiple Tier-1 Licences MT4 and MT5 Available Proprietary Trading Platform Local Payment Options No Transaction Fees 24/7 Customer Support
XM
Rating: 4.5 / 5
1,000+ Instruments 1,400+ Instruments Multiple Tier-1 Licences India-Specific Social Media Regular Local Promotions Local Payment Options
*Trading carries a risk of loss
iFOREX
Rating: 4.45 / 5
750+ Instruments Proprietary Trading Platform Local Payment Methods Account Funding in INR
*Trading carries a risk of loss
VT Markets
Rating: 4.35 / 5
1,000+ Instruments Loyalty Reward Program Local Payment Methods Responsive Live Support
*Trading carries a risk of loss
HF Markets
Rating: 4.3 / 5
500+ Instruments Wide Choice of Platforms Regular Local Promotions Account Funding in INR
Score Breakdown
See the review ratings breakdown for the Best Forex Brokers in India for 2025 and how each performed across six important criteria featured in our FX Trust Score Index.
| Regulatory Compliance | Security & Fund Protection | ||
| Exness | 5/5 | Exness | 5/5 |
| HF Markets | 5/5 | HF Markets | 5/5 |
| iFOREX | 5/5 | iFOREX | 5/5 |
| VT Markets | 5/5 | VT Markets | 5/5 |
| XM | 5/5 | XM | 5/5 |
| Customer Support | Localisation | ||
| Exness | 5/5 | Exness | 4/5 |
| VT Markets | 5/5 | HF Markets | 4/5 |
| XM | 5/5 | iFOREX | 4/5 |
| HF Markets | 3/5 | VT Markets | 4/5 |
| iFOREX | 3/5 | XM | 4/5 |
| Local Payment Methods | Online Reputation | ||
| iFOREX | 5/5 | Exness | 5/5 |
| Exness | 4/5 | HF Markets | 4/5 |
| HF Markets | 4/5 | iFOREX | 4/5 |
| VT Markets | 4/5 | XM | 4/5 |
| XM | 4/5 | VT Markets | 3/5 |
*Where scores are tied, brokers are listed in alphabetical order.
Broker Review Rating Comparison
Marks out of 5 stars
Exness rating 4.65 / 5
XM rating 4.5 / 5
iFOREX rating 4.45 / 5
VT Markets rating 4.35 / 5
HF Markets rating 4.3 / 5
The FXTS Verdict
Once all the scores were added up, Exness finished as the Best Forex Broker in India for 2025. Our experts found the broker to be an excellent choice for Indian traders thanks to its strong overall product offering. It features a wide range of trading platforms, such as MetaTrader 4 (MT4), MetaTrader 5 (MT5) and Exness’ own proprietary terminal. Within the client portal, traders are able to open an account using Indian rupees (INR) and add funds in INR using local payment methods. Exness also provides traders with 24/7 client support, which is a key feature for those requiring urgent assistance on a Saturday or Sunday.
XM came in second place after scoring well on the topic of localisation. The broker displayed a number of impressive features tailored to its Indian clients. These include dedicated social media channels, generous local promotions and a good range of local payment methods available. Next up is iFOREX, which ranked highly for its user-friendly proprietary trading platform and account funding options suitable for Indian traders. Moving down the list, VT Markets made the final five thanks to its unique loyalty reward program and responsive customer support agents. Lastly, HF Markets’ wide range of trading platforms were a big positive, with the broker also allowing Indian clients to deposit in their local currency.
How did we choose the Best Forex Brokers in India for 2025?
To accurately identify the Best Forex Brokers in India for 2025 we began by narrowing down the shortlist to include only fully regulated companies. Once this was complete, we conducted a thorough review of each broker’s website, paying close attention to their client offering for Indian traders. Any firms which did not feature Hindi as a language option for their website or customer support were automatically removed from consideration. Accessibility is such an important aspect for India-based traders looking to enter the markets quickly and easily. For this reason, we spent many hours carefully researching the local payment methods available with the shortlisted brokers, before adding them to the final leaderboard.
After settling on the top five best brokers, we then went into even greater depth by analysing them against six key criteria from the FX Trust Score Index. Here, each broker was evaluated in terms of compliance, security of funds, client support, localisation, local payment methods and online reputation. All the ratings were then added up using the Index’s unique scoring system, before the brokers were assigned an overall percentage score. By adopting such a detailed approach to our research, we hope to provide traders with the most reliable and accurate broker rankings found anywhere online.
FAQs
Yes, it is possible to trade forex in India, however, there are strict rules placed on the type of trading that is allowed. Trading with brokers regulated by the Securities Exchange Board of India (SEBI) is legal, as long as it involves currency futures and options. However, SEBI does not allow spot forex trading, while the Reserve Bank of India (RBI) has banned leveraged forex trading on margin accounts. This means that, for many Indian traders wishing to trade forex CFDs, their only option is through a foreign broker. Should you choose to trade with an international broker, it is strongly recommended that you go with a well-established and fully regulated firm, such as those listed above.
Yes, forex trading is legal in India, however, strict rules apply. Trading currency futures and options with SEBI-regulated brokers is legal, but spot or leveraged forex trading through margin accounts is not allowed. Therefore, Indian traders seeking to trade forex CFDs have to select an international broker based abroad and regulated in a different country. There are many foreign brokers available to Indian residents, but traders should take care to choose a trusted company, preferably an established and multi-regulated entity.
To trade forex CFDs in India, the best option is to select a foreign broker that accepts clients from India. The next step is to find a brokerage that is fully licensed and authorised by a reputable financial regulator. After this, you should properly research the broker’s full product offering, including account types, platforms, fees and trading conditions. If you are satisfied with the features on offer, you can proceed to complete the account registration process. Once verified, you will be able to fund your account using either Indian rupees (INR) or another currency. Remember to only trade with funds that you can afford to lose.
The best forex brokers in India are fully licensed and regulated. While SEBI-regulated brokers are legally permitted to operate in the country, many local traders choose foreign-based firms. This is because trading forex CFDs is only possible through accounts with brokerages located abroad. Generally speaking, traders should always conduct thorough research before making a final decision on which broker to open a trading account with. Traders are advised to always check the registration numbers of the licences held by a company to ensure they are currently regulated entities.
The best brokers offer trading on top currency pairs involving the Indian rupee, like USD/INR or EUR/INR. Several of the leading foreign brokers also allow Indian traders to fund their trading accounts in INR, either directly or through currency conversion. There are numerous deposit methods that are compatible with INR, including UPI, Indian bank transfers, and e-wallets such as Skrill and Neteller.
Many international brokers offer low minimum deposit requirements, starting as low as $1 to $5 (₹80 to ₹400). This is usually available on micro or standard accounts, making them accessible for beginner traders based in India. For more experienced traders seeking a more suitable account option with higher leverage or advanced features, deposit amounts can vary between $100 to $200 (₹8,000 to ₹16,000). These brokers typically support INR deposits through payment methods like Skrill, Neteller and local bank transfers.
Publication date:
02/05/2025
Author: FX Trust Score
Last updated on May 2, 2025
