The third quarter of is up and running, and the results for the highly anticipated verdicts of The Global Business Review Magazine arrived last month. This year was an important one for OctaFX. Not only does the broker celebrate its tenth anniversary, but it recently established some significant partnerships.
This marked the first instance of anyone receiving a trading partner status in IPL history. The agreement, which includes an exclusive digital content partnership with the brand, is the very first for Delhi Capitals. We admire the country and its people. We do our best to accommodate our Indian clients and are thankful for such a radiant, like-minded, and motivated community. Receiving this award from the Global Business Review Magazine is an honour that will spark even more effort from our team.
The Global Business Review Magazine chief editor, Smith William, assured its readers that they closely observe the Forex market in India and understand that there are many quality services to choose from. These top brokers were chosen for this review for various reasons depending on the specific category in which we felt they excelled.
Baseline requirements included the strength of their regulatory environment, their generally good overall reputation with clients earned over an extended period and a substantial number of currency pairs available for trading.
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The CFDs are available on currency pairs, indices and commodities. XM has over 2. Traders benefit from one-click deal execution. Customer support is available in over 16 languages. The account deposits can be made using credit cards and wire transfers. AvaTrade also accepts e-payments from Skrill, Webmoney and Neteller. But, E-payment options are not available for Australian and EU traders.
AvaTrade offers leverage of up to with negative balance protection so that your account never goes below zero. Alpari International has 20 years of forex industry presence with 2 million traders. Alpari offers MT5 and MT4 trading platforms. Apart from forex one can trade in stocks, commodities, indices, cryptocurrencies and metal assets.
The forex broker is regulated by the Cayman Islands Monetary Authority. The solution helps you get maximum uptime, fast trade execution and account access from any operating system via a web browser. Additionally, you should execute at least 10 round trip mini lots or the equivalent every calendar month. Apart from that, you can use the proprietary FBS trader App.
FBS provides leverage starting from and going up to with negative balance protection. Forex brokers operate online across the globe. To be trustworthy they need to be overseen by a major financial regulator having rigorous compliances on trading practices and client protection.
The financial regulators can be the U. You need to open a margin account for forex trading. You need to pay a minimum deposit amount while opening a margin account. All you need is to find a forex broker that asks for a reasonable minimum initial deposit amount corresponding to the services provided. Forex brokers let you trade in different currency pairs, currency derivatives like options, swaps and forward , global stock, indexes, commodities and crypto.
All forex brokers do not provide trading in all the currency pairs or assets. CFDs are over the counter OTC derivative products, where you trade on the price movement difference of financial assets without actually owning them. Before you select a forex broker, you need to check your asset preferences for trading. Based on your trading requirements pick a broker that provides all the assets you want to trade-in. Leverage or margins help you trade a larger volume on a fraction of your money.
Leverage is like a double edge sword. They can help you earn plenty or lose huge amounts if the price movement is adverse. Prudent practice suggests that you should always use appropriate leverage in line with your trading strategy and risk capacity. MetaTrader 4 and 5 trading platforms are the popular global forex trading platforms.
Both platforms support automated trading. Forex trades are highly leveraged. Any adverse economic, political news and events have the potential to create high volatility. This is where your account turns negative i. Brokers who offer negative balance protection save you from any debt payments. Under negative balance protection, the losses are restricted up to the initial deposit.
Before you trade global forex, check your trading requirements, risk-taking capacity, and local regulations. If you Loved reading this, Share with someone you care! I share transparently how I am making passive income and where I spend my money. Can I withdraw and deposit the amount with any foreign broker for forex trading in Indian rupees?
Can we trade in some of the cross currency pairs with sebi regulated foreign broker during the hours when these currency pairs are trade I mean Uro London and New York market times? You can trade in all currency pairs supported by your FX broker. You can check OctaFX that offers a free forex demo account for practice. Again after following 10 times they are not even bothered to refund , company does not care customers dont ever plan to invest.
Lexa trade is a chating company , I just opened with USD and later due to unforseen i asked them to deposit back which they are not even bothered ,dont invest in this company at all all fraudesters. One needs to be careful about their regulation and reputation while opening the account. Better to go with regulated Fx brokers. Hi sir, can you please recommend a broker with low spreads.
Will really be grateful for your help. Can u pl give idea of any forign broker where you can trade 24 hours in forign currency with inr pair. Octafx does not share phone numbers. You can contact them via email or their social media channels. There are both positive and negative reviews about Lexa Trade. Better to go with regulated forex brokers.
How can I learn free Trading training? What is Stock Market? Whether trading in foreign Stock Market is more beneficial and least loss comparing to Indian Stock Market trading? However, despite the restrictions, forex trading in India remains a great way to make cash. Consequently, speculation is rife that the Indian government is now considering relaxing the rules soon to allow Forex traders greater flexibility on currency pairs. This relaxation will also allow more comprehensive regulatory protection than currently exists.
You should consider whether you can afford to take the high risk of losing your money. In the meantime, as ever with any form of trading, it is strongly recommended you do your homework first on forex trading. Research is vital to ensure your forex broker is a good fit with you, trustworthy, transparent, and reliable.
To simplify matters for you, we have reviewed a range of trading platforms and narrowed our shortlist down to what we consider are the 5 best forex brokers in India. In doing so, we have considered several criteria that should be at the heart of your deliberations. Namely, these vital criteria included such things as user-friendliness and speed of order execution, amongst other things.
Since its formation in has consistently met with critical acclaim as an honest broker in the world of forex brokerage. Its ground-up custom-built platform has won multiple awards. It is recognized as among one of the best for forex traders of all experience levels. These accounts are sandboxes to get your head around the platform and forex trading.
The first items that you will notice immediately are the sheer number of useful tools to represent a host of financial information graphically. All of which you can access via the demo account as well. The care that was taken in creating the IQ Option shines through in its ease of navigation. IQ Option is also very strong on the educational aspect of forex trading. There are many resources, including video tutorials and email newsletters, to help you get up to speed as quickly as possible.
At the last count, some 40 million-plus traders were registered on the IQ Option platform. Withdrawals are speedy and available via a range of payment methods. Though it has only been around since , Olymp Trade is punching above its weight. In Cyprus, Saint Vincent, and Grenadines registered company is indisputably making an impression on forex trading.
In a relatively short time, it has grown into a well respected and trusted forex broker. In its short lifespan, Olymp Trade has also won multiple international industry awards. This dynamic growth, international recognition, and transparency explain why Olymp Trade can now boast 25 million user accounts. Olymp Trade is set up to do business with forex traders in India and other countries.
It also offers the platform in both English and Hindi. According to the Olymp Trade website, their experienced team of support agents resolves some issues every day in 15 languages, with callers waiting an average of 13 seconds to talk to a human. You should check out the extensive FAQ section of their website too.
A visit here is likely to inspire you to create a demo account. Even seasoned forex guys will find this feature useful before they commit to the platform. BDSwiss is consistently highly rated and recommended by forex industry commentators.
However, mixed online reviews hint that they may have some work to do on the customer support side of the operation. Nonetheless, the Zurich, Switzerland-based forex broker makes for a good choice for Indian forex traders regardless of whether they are starting out or are long in the tooth forex traders.
This versatility is reflected in their support of both English and Hindi on the website and user support. BDSwiss is a well-regulated broker and popular among the forex trading community. A significant part of its appeal is the number of different account types on offer. These accounts are married to a platform that supports both MetaTrader 4 and 5. As well as a platform with exceptional ease of use, it is underpinned by educational resources to help ensure you achieve the most from your forex trading.
There are numerous training courses via their Trading Academy, regular strategy webinars in English and German, and live seminars that are easy to join. VIP Account holders can also access one-to-one Forex training. Though Forex trading is inherently risky, BDSwiss goes out of its way to help its clients succeed in their foreign exchange trades. The level of risk involved is clearly spelled out on their website. But the excellence that BDSwiss strives for is more than mere marketing hype.
International bodies have widely recognized their efforts, leading to numerous industry award wins over the years. There is also a mobile app that offers trading, account management, and research functionality. So you can literally take BDSwiss with you in your pocket. Overall, BDSwiss is well set up for forex trading if you are based in India. They make it easy and transparent.
The international forex broker has about one million user trading accounts, so they must be doing something right with a client base that size. This online forex broker is relatively long-lived, having been incorporated in It is headquartered in London and overseen by multiple financial regulatory bodies around the world, including the UK, Cyprus, South Africa, and the Bahamas. For Indian forex traders looking for brokerage recommendations, it would be a smart move to run your rule over FxPro before coming to a final selection.
In alone, the brokerage won two prestigious accolades in the Personal Wealth and ForexBrokers. So you can safely conclude was a good year for FxPro, a global pandemic considered. All told, they have bagged more than 80 UK and international awards. Apart from the odd blatantly spammy review, FxPro gets numerous positive reviews on Trustpilot.
It scores well in the trustworthiness and reputation stakes. This level of trust and international recognition did not happen by accident. They are now a trusted broker in countries as a result. In addition to the standard MetaTrader 4 and 5 and c trader, FxPro also offers the option of trading on Edge. Their mobile app lets you trade wherever you are, like a pro forex trader. They are what is known as a No Dealing Desk Execution brokerage. This arrangement means they do not take the opposite position of the trade.
Because there is no markup, this means FxPro can offer lower spreads as trades are executed electronically at the best market price. Underpinning this is superior order execution technology. This tech enables FxPro to execute some orders per second in an average execution time of fewer than This speed quite possibly leaves lightning behind in its wake.
FxPro lets you trade more than 70 currency pairs, including all the major players in the forex market that experience the largest trading volumes and liquidity. However, they have extensive online resources to DIY troubleshoot as well as numerous forex training and learning resources. You are required to provide ID and the minimum deposit amount to get started with a live trading account. Opening a demo account usually involves only a basic registration process. Forex trading in India is not the challenge you may expect.
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