In India, Forex trading is restricted to currency pairs involving the Indian Rupee (INR), and Indian traders must use authorized brokers to access the currency markets. These brokers are regulated by the Securities and Exchange Board of India (SEBI) and comply with the guidelines laid out by the Reserve Bank of India (RBI). Below are some of the top Forex brokers in India that offer access to the currency market:
1. Zerodha
Overview: Zerodha is one of the largest and most popular stock brokers in India, also offering currency trading on its Kite platform. It is a discount broker, which means it charges low brokerage fees.
Features:
Offers currency trading in pairs like EUR/INR, USD/INR, GBP/INR.
Powerful Kite platform with advanced charting tools and easy navigation.
Access to Algo trading and integration with APIs.
Low brokerage fees (flat Rs. 20 per order, irrespective of trade size).
Pros:
Excellent customer support.
Simple pricing struct
