Compare top 6 best forex brokers in India for 2024

Compare Top 6 Best Forex Brokers in India for 2024

As the forex trading landscape continues to evolve, selecting the right broker is critical for traders in India looking to capitalize on global currency markets. In 2024, we compare the top 6 forex brokers in India, considering factors such as regulatory compliance, trading platforms, fees, and overall user experience.

1. Zerodha:

  • Regulation: Zerodha operates under the regulation of the Securities and Exchange Board of India (SEBI).

  • Trading Platforms: Zerodha offers a user-friendly platform with advanced charting tools.

  • Fees: Known for its low brokerage fees, Zerodha provides a cost-effective option for forex traders.

  • Overall Experience: Suitable for both beginners and experienced traders, Zerodha's platform ensures a seamless trading experience.

2. Upstox:

  • Regulation: Upstox is regulated by SEBI, ensuring compliance with Indian regulatory standards.

  • Trading Platforms: Upstox provides a straightforward platform with essential features for forex trading.

  • Fees: With competitive pricing, Upstox appeals to cost-conscious traders.

  • Overall Experience: Upstox caters to traders seeking simplicity and cost-effectiveness in their forex trading journey.

3. ICICI Direct:

  • Regulation: ICICI Direct, being a full-service broker, operates under SEBI regulations.

  • Trading Platforms: ICICI Direct offers a comprehensive platform with advanced charting and research tools.

  • Fees: While full-service, ICICI Direct's fees are higher, making it suitable for traders valuing research and analysis.

  • Overall Experience: ICICI Direct provides a holistic trading experience with a range of financial instruments.

4. HDFC Securities:

  • Regulation: As a full-service broker, HDFC Securities adheres to SEBI regulations.

  • Trading Platforms: HDFC Securities provides a robust platform for forex trading with real-time data.

  • Fees: Full-service brokerage fees apply, making it suitable for traders valuing research and support.

  • Overall Experience: HDFC Securities ensures a seamless trading experience with a focus on reliability.

5. Angel Broking:

  • Regulation: Angel Broking operates under SEBI regulations.

  • Trading Platforms: Angel Broking's platform is known for its user-friendly interface and research tools.

  • Fees: Competitive brokerage fees make Angel Broking an attractive choice for cost-conscious traders.

  • Overall Experience: With a diverse range of financial instruments, Angel Broking offers a well-rounded trading experience.

6. Kotak Securities:

  • Regulation: As a full-service broker, Kotak Securities follows SEBI regulations.

  • Trading Platforms: Kotak Securities provides a robust platform with advanced features for forex traders.

  • Fees: While full-service fees apply, Kotak Securities offers a comprehensive trading experience.

  • Overall Experience: Catering to both beginners and advanced traders, Kotak Securities ensures a feature-rich trading environment.

Considerations for Choosing a Forex Broker:

  1. Regulatory Compliance:

    • Ensure the broker is regulated by SEBI to operate legally in India and provide a secure trading environment.

  2. Trading Platforms:

    • Assess the features and functionality of the trading platform to ensure it aligns with your trading needs.

  3. Fees and Costs:

    • Consider the overall cost of trading, including spreads, commissions, and any additional fees.

  4. Research and Analysis:

    • Evaluate the broker's research and analysis tools, especially if you value comprehensive market insights.


Choosing the best forex broker in India involves considering individual preferences, trading styles, and priorities. Each of the top 6 brokers listed above offers a unique set of features, and the ideal choice depends on the specific needs and preferences of the trader.