SponsoredFxPro's website
73 brokers measured in Indiabroker data checked 27.08.2026
Written and checked by the Rupee Desk editorial team · how we score · base recalculated 13.10.2026
Recalculated 13.10.2026 · 73 brokers · 43 accounts

Forex and CFD brokers for residents of India, measured

By formula v1.0, JM Financial ranks first at 4.38: a 7 round turn and a local SEBI licence. We measured 73 brokers and 43 accounts; 73 accept Indian residents, and 22 are authorised by the country's own regulator.

73of 90
onboarding residents
81% of 90
45of 73
scored on all six axes
62% of 73
65of 90
publish a price
72% of 90
49of 90
publish a leverage figure for this country
54% of 90

Compare all 73 brokers and 43 accounts (73 of 90 shown)

Filters
Instruments
Deposit and withdrawal
20 of 90 shown
By score, formula v1.0. No row here is paid or promoted: the order is the formula's alone. · Cost, leverage and withdrawal apply to the entity that onboards Indian residents, not the group.
2.0–5.0USD · INUSDIndia entityhoursExecutionFoundedFunding
1
JM FinancialJM Financial Services Ltd
 4.38 7per lot · std — —stated, not verified — ECN/raw + standard19982 methods
2
Ventura SecuritiesVentura Securities Ltd
 4.31 — — —stated, not verified 48measured —19942 methods
3
IIFL SecuritiesIIFL Securities Ltd
 4.25 — — —stated, not verified 24measured —19962 methods
4
FP MarketsFP Markets LLC
 4.21 6per lot · std 100 groupadvertised 500retail · IN 0measured ECN/raw + standard20053 methods
5
Interactive BrokersPrivate Limited
 4.14 5per lot · std 0 groupadvertised —stated, not verified 48measured ECN/raw + standard19771 methods · local
6
NuvamaNuvama Wealth and Investment Ltd. (formerly Edelweiss Broking Ltd.).
 4.12 — — —stated, not verified 3measured —20082 methods
7
Fusion MarketsIndian retail clients are onboarded under the offshore arms Gleneagle Securities Pty Limited (Vanuatu VFSC) and/or Fusion Markets International Ltd (Seychelles FSA), not a local entity.
 4.06 4.5per lot · std 0advertised 500retail · IN 1measured ECN/raw + standard20196 methods
8
Finvasiaof Finvasia Securities Pvt Ltd
 4.01 4per lot · std — —stated, not verified — ECN/raw20073 methods · local
9
AMarketsAMarkets Ltd
 3.95 11per lot · std 100 groupadvertised 3000retail · IN 24measured ECN/raw + standard20075 methods · local
10
LiteFinanceLiteFinance Global LLC
 3.94 5per lot · std 50 groupadvertised 1000retail · IN 24measured ECN/raw + standard20053 methods
11
HFMHF Markets (SV) Ltd
 3.92 6per lot · std 0 groupadvertised 2000retail · IN 24measured ECN/raw + standard20103 methods
12
MultiBank GroupIndian clients served via offshore entity (BVI FSC / Vanuatu VFSC); no local Indian entity.
 3.92 3per lot · std 50advertised 500retail · IN 48measured ECN/raw + standard20054 methods
13
Reliance SecuritiesReliance Securities Ltd. (renamed IndusInd Securities Ltd. from Sep 2025).
 3.92 — — —stated, not verified — —20052 methods
14
FxProFxPro Markets Ltd
 3.91 9per lot · std 100advertised 200retail · IN 24measured ECN/raw + standard20063 methods · local
15
JustMarketsJust Global Markets Ltd
 3.9 6per lot · std 10advertised 3000retail · IN 48measured ECN/raw + standard20123 methods
16
OctaFXIN clients served via offshore entity; local arm OctaFX India Pvt Ltd (renamed Tauga Pvt Ltd) sanctioned. Server relocations post-crackdown.
 3.9 9per lot · std 25 groupadvertised 1000retail · IN 3measured ECN/raw + standard20112 methods · local
17
Nirmal BangNirmal Bang Securities Pvt. Ltd
 3.9 — — —stated, not verified 24measured —19862 methods
18
ActivTradesIndian clients, where accepted, onboarded offshore under ActivTrades Corp (SCB Bahamas); no local entity.
 3.88 4.2per lot · std 0advertised 200retail · IN 24measured ECN/raw + standard20014 methods
19
Grand CapitalGrand Capital Ltd
 3.87 9per lot · std 10advertised 500retail · IN 0.25measured ECN/raw + standard20063 methods
20
NordFXOffshore NordFX LTD (Saint Lucia, reg 2023-00470); no India entity.
 3.84 7per lot · std 10 groupadvertised 1000retail · IN 24measured ECN/raw20084 methods
21
3.82 6per lot · std 0 groupadvertised 500retail · IN 72measured ECN/raw + standard20145 methods
22
Blueberry MarketsWould be served via offshore Mauritius/Vanuatu entities; no India-licensed arm.
 3.82 7per lot · std 100 groupadvertised 500retail · IN 24measured ECN/raw + standard20165 methods
23
BDSwissIndian clients are onboarded under the offshore entity BDSwiss (Seychelles) Ltd (FSA) / BDS Markets (FSC Mauritius) via the global site; no Indian entity.
 3.8 10per lot · std 10 groupadvertised 2000retail · IN 24measured ECN/raw + standard20123 methods
24
FIBO GroupIndian clients onboarded by offshore FIBO Group, Ltd (BVI).
 3.8 6per lot · std 50 groupadvertised 1000retail · IN 48measured ECN/raw + standard19987 methods
25
FXChoiceFX Choice Ltd
 3.8 7per lot · std 100advertised 200retail · IN 24measured ECN/raw + standard20103 methods
26
PepperstonePepperstone Markets Ltd
 3.79 7per lot · std 10 groupadvertised 200retail · IN 48measured ECN/raw + standard20105 methods
27
DukascopyServed by Dukascopy Bank SA (Switzerland) cross-border; no Indian entity.
 3.77 8per lot · std 100 groupadvertised 200retail · IN 48measured Standard20043 methods
28
Hantec MarketsHantec Markets Ltd
 3.76 2per lot · std 10 groupadvertised 500retail · IN 48measured ECN/raw + standard2009—
29
AxiOnboarded to offshore AxiTrader LLC / AxiTrader Ltd (St Vincent & the Grenadines).
 3.75 7per lot · std 0 groupadvertised 500retail · IN 24measured ECN/raw + standard20077 methods
30
SwissquoteSwissquote Bank Ltd
 3.73 16per lot · std 1000advertised 100retail · IN 24measured ECN/raw + standard19961 methods
31
VantageIndian retail clients are onboarded by the offshore arm Vantage Global Limited (VFSC Vanuatu) / Vantage International Group Ltd (Cayman CIMA); no Indian-licensed entity.
 3.7 6per lot · std 50advertised 500retail · IN 72measured ECN/raw + standard20201 methods · local
32
Anand Rathi Share & Stock BrokersAnand Rathi Share and Stock Brokers Ltd
 3.7 — — —stated, not verified — —19912 methods
33
Moneta MarketsMoneta Markets Ltd
 3.69 3per lot · std 50advertised 1000retail · IN 24measured ECN/raw + standard20195 methods · local
34
AvaTradeAva Trade Markets Ltd
 3.69 9per lot · std 100 groupadvertised 400retail · IN 48measured Standard20064 methods
35
3.68 — — —stated, not verified 48measured —20222 methods
36
EightcapEightcap Global Limited
 3.67 7per lot · std 100 groupadvertised 500retail · IN 48measured ECN/raw + standard20094 methods · local
37
XMXM Global Limited
 3.67 3.5per lot · std 5advertised 1000retail · IN 24measured ECN/raw + standard20093 methods · local
38
FXOpenFXOpen Markets Ltd
 3.67 3per lot · std 1 groupadvertised 500retail · IN 24measured ECN/raw + standard20056 methods
39
FBSFBS Markets Inc
 3.66 13per lot · std 5 groupadvertised 3000retail · IN 24measured Standard19953 methods
40
HeadwayMarketed/served offshore under Jarocel (Pty) Ltd; Headway publishes India-facing MT4 guidance.
 3.63 3per lot · std 1 groupadvertised —stated, not verified 0.5measured ECN/raw + standard20223 methods
41
TMGMTrademax Global Ltd
 3.62 7per lot · std 100 groupadvertised 1000retail · IN 24measured ECN/raw + standard20136 methods
42
MitradeIf accepted, only via offshore Mitrade entity; no Indian onboarding entity.
 3.61 6per lot · std 20advertised 200retail · IN 72measured Standard2011—
43
Milton PrimeIndia listed as a restricted/ineligible jurisdiction in Milton Prime terms.
 3.61 — 1000 groupadvertised 500 groupretail · IN 1measured —2015—
44
CAPEXKW Investments Ltd
 3.55 6.5per lot · std 100 groupadvertised 300 groupretail · IN 24measured ECN/raw + standard20163 methods
45
XChiefOnboards Indian clients via offshore xChief LTD (Comoros/Mwali); no India entity.
 3.55 5.5per lot · std 10advertised 1000retail · IN 120measured ECN/raw + standard20147 methods
46
ForexMartOffshore Tradomart SV Ltd
 3.53 6per lot · std 1 groupadvertised 500retail · IN 48measured ECN/raw + standard20158 methods · local
47
Alice BlueAlice Blue Financial Services (P) Ltd.
 3.51 — — —stated, not verified — —20062 methods
48
Saxo BankNot served. Saxo stopped onboarding India clients effective 1 July 2024 and offboarded existing Indian clients by end-2024.
 3.49 9per lot · std 0 groupadvertised — 24measured Standard1992—
49
Trade NationTrade Nation Ltd
 3.44 6per lot · std 0 groupadvertised 200retail · IN 120measured Standard20083 methods · local
50
RoboForexRoboForex Ltd
 3.4 4per lot · std 10 groupadvertised 2000retail · IN 48measured ECN/raw + standard20095 methods · local
51
5paisaCapital Ltd
 3.39 — — —stated, not verified 24measured —20162 methods
52
HYCMHYCM Ltd
 3.35 5per lot · std 100 groupadvertised 500retail · IN 168measured ECN/raw + standard19775 methods
53
FXGTGT Global Ltd
 3.34 14per lot · std 5 groupadvertised 5000retail · IN 72measured Standard20194 methods
54
FXCMStratos Global LLC
 3.28 11per lot · std 50advertised 1000retail · IN 120measured ECN/raw + standard19992 methods
55
CMTradingNo India entity stated
 3.23 15per lot · std 250 groupadvertised 200retail · IN 48measured ECN/raw + standard20122 methods
56
EquitiNo Indian entity; not SEBI-registered. Any service would be via offshore licences.
 3.22 7per lot · std 0 groupadvertised 2000 groupretail · IN 120measured ECN/raw + standard2008—
57
CMC MarketsCMC Markets Singapore Pte. Ltd
 3.01 — 0 groupadvertised 20retail · IN 120measured ECN/raw + standard19892 methods
58
ADSSADS Securities LLC
 2.86 14per lot · std 100 groupadvertised 500 groupretail · IN 120measured ECN/raw + standard2010—
59
FortradeServed internationally via Fortrade (Mauritius) Ltd; listed as allowed jurisdiction by broker.
 2.84 — 100 groupadvertised 30 groupretail · IN 48measured —20084 methods
60
InstaForexInstant Trading Ltd
 2.8 — 1 groupadvertised 1000retail · IN 144measured ECN/raw + standard20073 methods
61
IronFXServed offshore (Notesco Bermuda / CySEC); no SEBI-registered Indian entity.
 2.77 18per lot · std 100 groupadvertised 2000 groupretail · IN 120measured ECN/raw + standard20103 methods
62
DotoDOTO GLOBAL LTD
 2.71 10per lot · std 15 groupadvertised 500 groupretail · IN 120measured Standard20194 methods · local
63
IFC MarketsIFCMARKETS CORP. (BVI); India-localized site ifcmarkets.co.in but onboarding is offshore.
 — — 1 groupadvertised 400retail · IN 1measured ECN/raw + standard20066 methods · local
64
Axis DirectAxis Securities Ltd
 — — — 100retail · IN 120measured —20112 methods · local
65
Bajaj BrokingBajaj Financial Securities Ltd. (subsidiary of Bajaj Finance Ltd.).
 — — 0 groupadvertised —stated, not verified — —20192 methods
66
Choice BrokingChoice Equity Broking Pvt. Ltd
 — — — —stated, not verified — —20102 methods
67
EspressoEspresso, discount-broking unit of Sharekhan Ltd (Mumbai); Sharekhan owned by Mirae Asset (formerly BNP Paribas).
 — — — —stated, not verified — —20202 methods
68
Geojit Financial ServicesGeojit Financial Services Ltd
 — — — —stated, not verified — —19872 methods
69
Kotak SecuritiesKotak Securities Ltd
 — — — —stated, not verified — —19942 methods
70
Paytm MoneyPaytm Money Ltd
 — — — —stated, not verified — —20182 methods
71
Prabhudas LilladherPrabhudas Lilladher Pvt. Ltd
 — — — —stated, not verified — —19442 methods
72
SBI SecuritiesSBI Securities Ltd
 — — — —stated, not verified — —19442 methods
73
SMC Global SecuritiesSMC Global Securities Ltd
 — — — —stated, not verified — —19942 methods
Unranked rows are shown with the reason; missing values stay blank (—), never estimated.

"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.

— the broker does not publish this figure; it is not read as a zero and it is not scored.

138 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard, Pepperstone no minimum deposit, Trade Nation Two live tiers - lower-leverage and 132 more.

Identical for every row, so it is stated once: Platforms MT5 cTrader +2 · Accepts residents Yes · local SEBI · Type ECN/raw · EURUSD spread 0.10 pips · avg · Currencies USD · INR.

Pick by task (6 tasks · 90 brokers)

Best brokersFP Markets4.21 top score45 of 90 brokers qualifyRegulatedInteractive Brokers4.14 top score22 of 90 brokers qualifyNot authorisedFP Markets4.21 top score49 of 90 brokers qualifyIslamicFP Markets4.21 top score45 of 90 brokers qualifyMin depositFusion Markets4.06 top score14 of 90 brokers qualifyLowest spreadsFP Markets4.21 top score50 of 90 brokers qualify

What the data shows (4 distributions · 90 brokers)

Round turn, USD (65 of 90 priced)

7<4
106
278
710
612
214
416
2>16

Median 7 USD · range 2-18 · 25 of 90 brokers do not publish it

Minimum deposit, USD (16 of 90 published)

15<200
0400
0600
0800
01k
1>1k

Median 15 USD · range 0-1000 · 74 of 90 brokers do not publish it

Retail leverage for Indian residents (49 of 90 published)

29<1k
102k
63k
34k
1>4k

Median 1:500 · range 20-5000 · 41 of 90 brokers do not publish it

Withdrawal time, hours (74 of 90 published)

51<50
9100
12150
1200
1>200

Median 48 h · range 0-240 · 16 of 90 brokers do not publish it

Ratings in India (16 slices · 90 brokers)

Best brokers45 of 90 brokers4.21 top scoreFP Markets leadsRegulated22 of 90 brokers4.38 top scoreJM Financial leadsNot authorised49 of 90 brokers4.21 top scoreFP Markets leadsIslamic45 of 90 brokers4.21 top scoreFP Markets leadsMin deposit14 of 90 brokers0.0 USDFusion Markets leadsLowest spreads50 of 90 brokers2.0 USDHantec Markets leadsHigh leverage43 of 90 brokers5000.0 1:xFXGT leadsLocal payments15 of 90 brokers4.14 top scoreInteractive Brokers leadsECN / raw44 of 90 brokers2.0 USDHantec Markets leadsMT448 of 90 brokers4.21 top scoreFP Markets leadsMT543 of 90 brokers4.21 top scoreFP Markets leadscTrader8 of 90 brokers4.21 top scoreFP Markets leadsGold36 of 90 brokers3.95 top scoreAMarkets leadsCrypto10 of 90 brokers4.06 top scoreFusion Markets leadsFast withdrawal59 of 90 brokers1.0 hLiteFinance leadsMobile app16 of 90 brokers4.38 top scoreJM Financial leads

Guides

GuideWhat a spread is, and what it costs youA spread is the gap between the price you can buy at and the price you can sell at, quoted in pips.GuideWhat leverage means, and where the cap comes fromLeverage lets a position be larger than the money behind it: at 1:30, {cur}1,000 of your own holds a {cur}30,000…GuideWhat a minimum deposit really tells youThe minimum deposit is the smallest amount an account can be opened with.

All 6 guides

How we score (6 axes · v1.0)

Score = 2 + 3 × weighted mean of six axes, each measured on the entity that onboards Indian residents. A missing axis is shown as a dash and the broker stays unranked; nothing is estimated. Full methodology

Reviews 25%Price 20%Reliability 20%Payouts 15%Track record 10%Platforms 10%

Where these figures came from (6 sources)

Sources · precision
  • https://jmfinancialservices.in
  • https://jmfl.com
  • https://sebi.gov.in
  • https://venturasecurities.com
  • https://compareonlinebroker.com
  • https://indiainfoline.com

Risk warning and affiliate disclosure

CFDs are complex instruments with a high risk of losing money rapidly due to leverage.

SponsoredEditor's choice · Oct 2026

FxPro

FxPro Markets Ltd
3.91/ 5.0rank #14 of 73
by formula
  • Reviews75
  • Round-turn cost80
  • Safety0
  • Payouts80
  • Track record100
  • Platforms70
Round turn
9
Min deposit
100
INR account
INR reported supported alongside USD, EUR, GBP.
Leverage
200IN
Withdrawal
within 1 working day
Founded
2006
Register
https://brokerchooser.com/broker-reviews/fxpro-review/fxpro-india 09.07.2026
Why it is here
  • Trading since 2006 — 20 years, 100 of 100 on track record
  • 4 platforms: MT4, MT5, cTrader, FxPro Edge
Open an accountRead the review

Paid placement, and the only one on the site. FxPro is #14 of 73 by our formula; the slot is bought, the score and the table are not.