ISM Institute of Stock Market Delhi

12 Best Forex Brokers in India

12 Best Forex Brokers in India

In India, when it comes to trading forex, choosing the right broker is crucial. With numerous options available, it’s essential to pick one that suits your needs.

Here are 12 of the best forex brokers in India, each offering unique features and services:

  • Zerodha: Known for its user-friendly platform, Zerodha offers low brokerage fees and a variety of trading instruments. It’s ideal for beginners due to its simple interface and educational resources.
  • Upstox: Upstox is another popular choice, offering competitive brokerage rates and advanced trading tools. It provides access to multiple markets and customizable charts for technical analysis
  • Angel Broking: With a strong presence in India, Angel Broking offers forex trading along with other financial products. It provides research reports and personalized advisory services to assist traders in making informed decisions
  • ICICI Direct: Backed by one of India’s largest banks, ICICI Direct provides a seamless trading experience with robust security features. It offers a wide range of investment options, including forex, equities, and derivatives
  • HDFC Securities: HDFC Securities is renowned for its reliability and customer service. It offers a user-friendly platform with advanced charting tools and research reports to aid traders in analyzing the market
  • Kotak Securities: As a trusted name in the financial industry, Kotak Securities offers forex trading services with competitive spreads and efficient execution. It provides comprehensive market insights and trading recommendations
  • Sharekhan: Sharekhan is favored for its extensive research capabilities and intuitive trading platform. It offers a range of investment products, including forex, commodities, and mutual funds
  • Axis Direct: Axis Direct is known for its seamless online trading experience and personalized support. It offers competitive brokerage rates and a user-friendly interface suitable for both beginners and experienced traders
  • Motilal Oswal: Motilal Oswal provides a robust trading platform with advanced charting tools and technical analysis features. It offers personalized advisory services and research reports to help traders make informed decisions
  • IIFL Securities: IIFL Securities offers a wide range of investment products, including forex, equities, and derivatives. It provides access to global markets and personalized advisory services for traders
  • 5paisa: 5paisa is known for its low brokerage fees and user-friendly interface. It offers a variety of trading products, including forex, stocks, and commodities, along with research reports and educational resources
  • SBI Cap Securities: As a subsidiary of State Bank of India, SBI Cap Securities offers a reliable and secure trading platform. It provides access to multiple markets and personalized advisory services for traders.


When selecting a forex broker in India, it’s essential to consider factors such as brokerage fees, trading platforms, research tools, and customer support. The brokers mentioned above are among the best options available in the Indian market, catering to the diverse needs of traders across the country. Whether you’re a beginner or an experienced trader, finding the right broker can significantly impact your trading experience and success.

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