Last updated on: September 6, 2023
A Forex trading app refers to a mobile or tablet application that enables individuals to engage in Forex trading and manage various financial instruments. The best forex trading apps are typically provided at no cost to users and are offered by Forex brokerage firms. Inflation, the difference in crude oil prices, market volatility, and the current war situation are legitimate market occurrences that might benefit. Hence, Forex trading using the Best forex trading app in India is the decent approach to benefit from these trends and go home with a sizeable gain.
But despite the abundance of forex trading apps, you cannot trade with any app and need to be cautious with your money and investments. Therefore, you must depend on professionals to help you choose between the top 10 forex trading app in India!
List Of Top 10 Forex Trading App In India
Industry professionals made a list of the best forex trading app in India with low spreads, excellent features, and quick trading speeds.
2. Olymp Trade
8. Angel Broking App
9. 5Paisa App
10. Kotak Stock Trader App
Comparison Of 10 best Forex Trading App In India
Its currency exchange and trading platform offer 3,000 symbols, including CFDs, FX, and exchange-traded securities making eToro the best forex trading app in India. It is also successful because of its simplified copy-trading platform, enabling you to mimic seasoned investors’ activities or earn unique benefits by disclosing your trading techniques.
Since its social features and vibrant community, this platform is a good choice for anyone seeking a more social trading experience. But eToro’s exorbitant trading fees more than account for it all.
- Micro, Standard, Islamic, and VIP accounts are the many types of accounts
- A $10 minimum deposit allows traders to trade online without having to deposit much money.
- Data encryption with safety features to protect user data and funds
- Backlog analytic method for decision-making and code and PT insights
- Users must complete level 3 Identity Verification for transparency
- User modifications need two-step verification
- Introduced two-factor authentication
- eToroX’s military-grade “FIPS140 custodian procedure” contains three levels. Environments further divide it.
- In 2023, eToro will be our top selection for FX, cryptocurrency, free stock, and ETF trading.
- Best in social or copy trading
- Founded in 2007, eToro is a low-risk FX and CFD broker registered in two tier-1 and one tier-2 country.
- Its user-friendly online platform and eToro mobile app for currency trading are perfect for casual and beginning investors.
- With over 3,000 symbols, multi-asset broker eToro keeps adding markets.
- Club members and top investors get VIP benefits.
- Easy account opening
- High-regulated broker (FCA, CySEC, and ASIC)
- Lacks MetaTrader
- Despite lowering spreads for Indian stock trading, eToro’s FX and CFDs are more expensive than other rivals
- eToro has fewer standard research tools than its competitors
- eToro does not allow automated trading
- Mandatory stop-loss and take-profit may impede trading methods
- High-tier eToro Club members may use Trading Central research and tools
In 2014, Olymp Trade, the best forex trading app in India, was founded. Users from more than 30 different nations may use this advising broker. More than 80 other assets are available, including FX, shares, currencies, cryptocurrencies, commodities, and indexes.
Olymp Trade has created a fantastic platform that solves many problems that novice investors face. Olymp Trade is a solid option for anybody looking for a platform since it reduces market risk while providing much potential return.
- Offers a demo account that lets users try the site before investing.
- a simple graphic with quantities and time
- customizable graph type and color
- It provides indexes, key currency pairings, cryptocurrencies, equities, and commodities from Microsoft, Apple, and IBM.
- The platform is user-friendly and high-quality
- A $10 minimum deposit allows traders to trade online without having to deposit much money
- The broker offers ECN accounts, extensive training, instructional tools, and auto trading
- Auto-trading is possible 24/7
- 13 language brokerage services traders in 194 countries
- The user interface for trading systems for the web and mobile devices is simple.
- Enticing spreads
- Low required down payment in comparison to other established platforms
- Provides a variety of trade assets
- 24/7 customer assistance is available.
- Supports a variety of payment options
- The broker uses a variety of instructional techniques.
- Deals and bonuses have a strict limit.
- Withdrawals from unverified accounts might be problematic.
- Does not provide precise bonus terms
Regarding investing platforms, XM is among the best forex trading app in India. A wide selection of suitable financial options is available, and you may trade Forex, cryptocurrencies, stocks, and bonds from the same account.
The MetaTrader-only XM Group offers excellent educational resources and market research, and it’s quick and easy. However, it needs to improve compared to the top brokers’ best forex trading app in India due to its restricted price, selection of markets, and platform providing.
- A minimum deposit starting at only USD 5
- The choice to open more than one account
- With protection against negative balance
- No re-quotes and no order rejection
- Tight spreads down to 0 pip.
- Pip fractional prices
- Access to many trading platforms from a single account for quick trading mobility
- Real-time markets process 99.35% of orders in under a second
- 100% automated and immediate account funding, handled around-the-clock
- Fast withdrawals without additional charges
- Two times every day, professional trading signals
- 1,230 CFDs, 57 forex pairings.
- Auto chartist and Trading Central supplement research
- Low withdrawal and CFD fees for stocks
- Daily videos, podcasts, and well-organized articles for research
- Quick and straightforward account creation
- Live and TV-quality footage is transmitted in-house.
- Webinars, publications, and Tradepedia courses.
- Offers entire MetaTrader suite with copy trading signals market and Analyzer algorithm
- Quick and straightforward account creation
- A limited selection of products
- Standard CFD fees for stocks and Forex
- Industry leaders have cheaper account spreads.
- There is no information provided about commission-based average spreads in XM Zero accounts.
Pepperstone, a 2010 cryptocurrency, CFD, and FX trading business, has the best forex trading app in India. Although Indian investors still need to register an account, Pepperstone is still a low-cost and feature-rich choice for international traders.
- Pepperstone’s platform gives customers access to 61 FX pairs, 5 cryptocurrencies, and more than 60 stock and index CFDs.
- FCA, ASIC, DFSA, SCB, CMA, CYSEC, and BaFIN regulate this broker. It segregates customer money at Tier 1 banks.
- This broker provides award-winning service from a global team. Monday through Friday, a customer service representative is accessible 24/7.
- Weekend assistance
- Pepperstone allows sub-30-millisecond execution.
- MT4, MT5, and cTrader trading systems are accessible and well-known.
- Always competitive spreads and reasonable commissions.
- Two tier-1 nations license a 2010 low-risk FX and CFD broker
- MT4, MT5, and cTrader are three powerful platforms that are accessible and well-known.
- Algorithmic and copy traders love Pepperstone’s MetaTrader and cTrader.
- Pepperstone offers several MetaTrader add-ons.
- Pepperstone’s research is above average but below IG and Saxo Bank.
- Pepperstone adds tradeable marketplaces.
- Pepperstone’s Razor account pricing is competitive for aggressive traders but average for retail traders.
- Social and copy-trading systems abound.
- Trusted broker regulated in 7 countries
- Fast and cheap execution
- All They Offer Are CFDs
- Although not as outstanding as category leaders, Pepperstone’s selection of instructional products is comparable to the industry average.
- It does not provide interactive lessons, progress monitoring, or test questions for learning
- Support is only available 24/7
- Zero-dollar account
- Limited options for passive trading
- $200 is the minimal entry fee.
- On the website, there aren’t many analytical resources. Connecting to trade signals is the only approach to deal with this problem.
- It lacks a news section
- You may only trade for free for one month on a demo account
Markets.com, established in 1999, is a wholly-owned subsidiary of a UK public corporation (LSE: PTEC). Markets.com, regulated in two major countries, is a low-risk forex and CFDs broker.
The MarketsX best forex trading app in India, from Markets.com, is a well-organized, simple, and valuable tool, including integrated research, market analysis, webinars, and instructional videos. However, the platform needs the robust trading capabilities that market giants offer.
- Incredibly low spreads on all major currency pairs
- No fees
- Many exotic forex pairs have spread.
- Investor education products are helpful for traders of all levels. The trade gurus’ x-ray video analysis series is updated routinely.
- com offers exceptional customer service. VIP support includes phone, email, and live chat five days a week for traders.
- Over 2200 tradable assets. One of its most vital features is the platform’s vast range of currency pairs, metals, stocks, bonds, ETFs, cryptocurrencies, and blends.
- com provides buy, sell, and hold signaling tools and investment education.
- Stock alerts, insider trade alerts, hedge fund confidence indices, and markets.com user trading patterns assist investors.
- com is excellent for novice traders because of its user-friendly, web-based MarketsX trading platform.
- Compared to market leaders like CMC Markets and IG, the Forex spreads offered by this forex broker are rather large
- Deposits and withdrawals are quick and free
- Quick and straightforward account creation
- Excellent resources for education and research
- It doesn’t provide the robust trading features of top-tier platforms
- Expensive forex costs
- A limited selection of products
- Platforms are missing certain standard functionality
One of the well-known names in the sector of the best forex trading app in India is ForexTime Limited, or FXTM for short. It is known for its foreign exchange (FX) and contracts for difference (CFD) trading industry.
Since its founding in 2011, FXTM has supplied its clients with various trading instruments, extensive training materials, risk-free practice accounts, and personal account managers.
FXTM MetaTrader 4 and 5 (MT4&5) support trading platforms, and it’s the best forex trading app in India. Trusted broker regulated in various countries. CFDs on currencies, indices, commodities, and more than 300 of the most extensive cap stocks are all available, in addition to spot gold and silver trading and FX.
- For novice forex traders, FXTM also offers webinars and seminars.
- The distinctive bar signifies when sentiment is about to “flip” and may help identify trade opportunities when combined with other popular indicators.
- FXTM has a copy-trading function like other popular social trading platforms.
- Strategy Managers earn up to 50% from Investors who follow them. A portal on FXTM lets users find and rank Strategy Managers.
- FXTM’s “Promos” sidebar contains incentives, promotions, and tournaments. After a deposit, these organizations provide additional money for residing in specified places.
- Several kinds of accounts
- More than 30 payment options
- Low $10 minimum deposit
- Social trading features
- Significant spreads on Standard accounts
- Straightforward interface
- Fewer platform choices
The HF Markets Group, owners of HFM, provide the best forex trading app in India, including various account types and robust platforms. HFM provides favorable market conditions and quick order execution. When there is a wide variety of options, customers may choose the one that best suits their needs.
Several regulatory licenses have confirmed the broker’s reliability — a decade or more of experience in finance, brokerage, or a related field. Since then, HFM has received 35 industry awards. Trading terminals, MetaTrader 4 and 5, are available. Features
- HotForex provides over 1000 assets, including 47 FX pairs, commodities, energy, stock indexes, cryptocurrencies, and ETFs.
- Account type affects spreads, leverage, and order size.
- $5–$250 minimum deposits.
- Trader education and market news are well-known.
- HotForex’s technical analysis, trade execution, charting, and market sentiment enhance MT4 and MT5 trading.
- Autochartist’s AI-powered pattern detection times transactions
- This market-maker and pricing structure features above-average variability.
- Many appealing account kinds
- Value-added tools improve trade
- Many trading resources and informative goods
- Trade over 1000 stocks and over 50 FX pairings
- Withdrawals vary
- Few users need to convert account currencies repeatedly
- Electronic payments are limited
- Easy registration. However, you can’t view other accounts
- Weekends are no-service
Angel One App
Indian broker Angel One has been offering financial services since 1987, and the company’s headquarters are in Mumbai. At Angel One, you can trade and invest in Forex assets, even with the help of advisors and managers.
- No minimum margin need
- All consumers may use trading software for free
- For all clients, research and advice are free
- An internet trading strategy
- Each transaction incurs a Rs 20 call and trading cost.
- For beginners and pros
- Offers several trading assets
- Offers several technical and fundamental analytical training resources and tools
- 24/7 help
- Affiliate and investment programs may provide cash
- Brokers only open demo trading accounts
- Second-year trading account fees start.
- Electronic wallets cannot add or withdraw funds.
The 5Paisa Mobile Trading App is one of the most well-liked best currency trading app in India. It is owned and operated by 5Paisa, a low-cost financial service supplier offering reasonable prices, insurance, mutual funds, and online trading.
- Simple interface
- Watchlist and order books quickly
- User-specific research advice
- Real-time market data, stock quotations, and price changes
- Advanced chart and multi-asset watchlist tools
- Launched basket orders for multiple orders with one click
- Unlimited price alerts and watchlists
- Easy and convenient
- 256-bit SSL encrypts the data for the best app for forex trading in India
- A complimentary guest login lets you try out the product
- Demo account available
- Customize backdrop, warnings, and notifications
- Fast order execution and performance
- Too many promotions
- Many cannot open accounts online without documentation.
- ₹100 per call & trade charge
- No multiple watchlists
Kotak Stock Trader App
Kotak Securities’ best app for forex trading in India offers free trading account openings. Under-30 investors get lower rates, and creating an account takes a few steps. Kotak trading app offers equities, IPOs, derivatives, mutual funds, currencies, commodities, and worldwide investment. The program includes margin financing, live portfolio monitoring, stock quotations, and stock charting.
- Online stock cash, derivatives, and currency derivatives trading
- Online courses and research papers
- Intraday transactions are broker-free
- Trade on margin
- News, stock charts, gainers and losers, volume, watchlist, and other trading tools
- Trade-free, trade-free youth, and other packages are available
- New investors get top stock selections and live research calls
- Offers 15% referral rewards for referral transactions
- Many research and analysis tools
- Strong customer service
- Worldwide market access
- Price notifications and advanced orders are unavailable
- No demo account
- No leveraged trading
Important Parameters to Choose the Best Forex Trading App In India
These are the important parameters we should consider while choosing the best app for forex trading –
- Advanced Analytics And Tracking
- Highly Trusted And Regulated Across Countries
- Customer Service
- Educational Resources
- Offers Demo Account
- Functional For Beginners And Experts
- Minimal Spreads
- Real-Time Updates
- Customer Service
The Final Word – Best Forex Trading App in India
Although real-time smartphone trading using the best currency trading apps has made Forex trading more manageable, it is still challenging to trade on the go. Due to the simplicity of smartphone trading and the fact that most mobile programs now provide complete functionality, novices should also try it.
Using the best forex trading app in India might help you perform better on the market. Most programs will satisfy your needs if you have an iOS or Android smartphone and need an account to practice your new trading abilities.
The internet and technology are crucial to contemporary life. Great forex traders have practiced for years. However, it is feasible to invest and make billions.
Even if most forex trading apps are free, examine their features and usefulness before downloading them. It benefits from being knowledgeable while joining this brand-new and challenging sector. But your best forex trading app in India will determine the outcome of your game.
FAQs About Best Forex Trading App in India
Which is the best forex trading app in India?
Based on our research, eToro is the most promising FX app in India and worldwide. The app’s user-friendliness, accessibility, and support for low-cost trading are all major selling points. Reassuringly, various prominent financial agencies regulate it.
Which forex trading app is legal in India?
Checking whether the broker is SEBI regulated is crucial in selecting Legal forex trading apps in India. The SEBI has authorized a broker to provide currency trading services to Indian citizens when the broker is classified as SEBI regulated.
Which app is mostly used for forex trading?
With so many options, picking the best forex trading software might be challenging. The most used forex app in India is Kotak Securities.
Is Forex Trading legal in India?
The Foreign Exchange Management Act (FEMA) states that engaging in binary trading is illegal. But Foreign exchange trading is permitted, however, subject to regulation.
For instance, the Indian Rupee (INR) must serve as the underlying currency for all transactions. For INR exchange, you may only exchange the US dollar (USD), the Euro (EUR), the British pound (GBP), and the Japanese yen (JPY.)
Which app is best for forex trading for beginners?
The best currency trading app India for novices are those that provide competitive spreads and fees on various currency pairs.
How do I start trading forex?
To be ready to start trading Forex, you may do the following:
- Connect a Device to the WiFi
- Find the best forex app in India
- Open a Trading Account
- Fund It
- Start Trading