The foreign currency exchange market is known as Forex or Fx. As it is clear from its name that this market deals in currency exchange of various countries. The market is a liquid market that runs for 24 hours a day. In terms of money invested in this market, it is the biggest market on the planet, It is even bigger than The New York Stock Exchange. In the Forex $ 6.6 trillion is invested while the money involved in The New York Stock Exchange is just over $1.1 trillion.
Forex brokers make money through the ups and downs in the exchange rate of a particular currency because tourists, businessmen, or students all need money from the particular nation they are visiting. The Securities and Exchanges Board of India (SEBI) is the body that regulates all the Forex brokers in India. There are many big players in this market but today we will share the top 10 Forex brokers in India in this article. All these Forex brokers are approved by RBI and The regulation is the liability of SEBI.
Here Is The List:
Alpari: This foreign exchange company was established in 1998. Internet Trading, Telephone Order Execution, PAMM Account are some of the Specialties of the company.
HotForex: HotForex is founded in 2010. Forex, Indices, Metals & Oil, Commodities CFDs, and Shares are some of the Specialties of the company. It won many awards for Superb Client-Centric Culture.
FP Markets: It is also known as First Prudential Markets. It was established in 2005. The Multi-regulated Broker company won 40+ Industry Awards.
Axiory: It was established in 2011 as a multi-asset broker. It offers 100s of CFD and investment products. It uses MT4, MT5, and cTrader and various payment methods.
FXTM: The company was founded in 2012. FX Majors, Minors, Exotics, Spot Metals, ETF CFDs, MT4 / MT5 for PC & Mac, MT4 for Smartphones & Tablets are some of the Specialties.
FBS: It was founded in 2009 and they are specialists in forex, online trading, and investment.
Instaforex: The company was launched in 2007 and specialists in Forex, Forex trading, currency trading, CFD trading, binary options, metals trading, PAMM, and ForexCopy.
Avatrade: It was established in 2006 and specialists in Forex, Commodities, Indices, CFDs, Introducing Brokers, Customer Support, Education, ETFs, Day Trading, Automated Trading.
XM: Launched in 2009 and specialists in CFDs, MT4, MT5, Mobile app, Trading signals, Market news.
RO-Investing: The company is a specialist in the online trading platform, investment platform, financial services provider, online trading education, CFDs, contract for differences, MT4, MetaTrader4, commodities, stocks trading, indices, and cryptocurrency.
Indian Forex Brokers Detailed Comparison
|Forex Broker Name||Minimum Initial Deposit||Bonus|
|Axiory||₹3627.95||50% bonus with a maximum limit of ₹362795.50|
|Instaforex||₹72.56||30%, 55%, 100%.|
|Avatrade||₹7255.91||Up to ₹725591.00|
|XM||₹362.80||₹2176.77 no-deposit bonus|