Best Forex Brokers in India for 2024

Best Forex Brokers in India for 2024

Steven Hatzakis

ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Here’s how we test.

Trading forex is increasingly popular in India, but it’s also heavily regulated, and the path to trading forex in India isn’t always straightforward.

As a general rule, it’s best to use a broker regulated in your country of residence. However, due to restrictions on locally regulated financial institutions in India, the only way for local citizens to speculate in the forex market is to use a foreign broker — such as those on our list — that accepts clients who reside in India.

The Securities and Exchange Board of India, or SEBI, is the financial regulatory body in India. The SEBI was established in 1988 as a nonstatutory body and given powers with the SEBI Act 1992. Read more about SEBI history on its Wikipedia page.

Securities and Exchange Board of India

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best Forex Brokers India

To find the best forex brokers in India, we created a list of all brokers that accept new customers from India and ranked them by their Overall ranking, calculated during our in-depth testing of the top forex brokers. This exacting analysis of more than 100 variables includes our proprietary Trust Score (more on Trust Score below).

Here is our list of the best forex brokers in India:

  • Interactive Brokers — Great overall, best for professionals

India Forex Brokers Comparison

Compare forex and CFD brokers that are authorised in India, side by side, using the forex broker comparison tool or the summary table below. This broker list is sorted by my overall rankings of the top forex brokers and includes brokers who accept residents of India as clients.

Company Accepts IN Residents SEBI Regulated Average Spread EUR/USD — Standard Minimum Deposit Overall Rating Visit Site
Interactive Brokers logoInteractive Brokers check check 0.63 info $0
IG logoIG check 0.98 info £250.00
Saxo check 1.1 info $0
FOREX.com check 1.4 info $100 Visit Site

Getting started forex trading in India

I’ve been a forex trader for over 25 years and I’ve researched regulatory environments and forex markets all over the world. Here are some starting points for starting out as a forex trader in India.

How to verify SEBI Authorisation

To identify if a forex broker is authorised by the SEBI, the first step is to identify the registration number from the disclosure text at the bottom of the broker’s homepage. For example, here’s the key disclosure text from Interactive Broker’s website,

INTERACTIVE BROKERS (INDIA) PVT. LTD. is a member of NSE, BSE [http://www.sebi.gov.in]. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Registered Office: 502/A, Times Square, Andheri Kurla Road, Andheri East, Mumbai 400059, India. Tel: +91-22-61289888 / Fax: +91-22-61289898.

Next, look up the FSP number on the financial register available on the SEBI’s website to validate that the broker is currently authorized in India.

Is forex trading legal in India?

Yes, forex trading in India is legal – albeit with strict limitations and restrictions. Forex traders in India cannot speculate on forex prices or engage in spot forex trading in India, even when using a SEBI-regulated broker. The Reserve Bank of India (RBI) does not allow clients to engage in leveraged forex transactions from a margin account. That said, the National Stock Exchange (NSE) received approval from SEBI in 2008 to legally offer forex trading in India through listed futures and options. As such, most Indian residents will be limited to using exchange-traded products.

For example, Interactive Brokers is regulated by the SEBI and offers exchange-traded currency derivatives in India, but doesn’t offer traditional forex trading (i.e. non-deliverable spot forex) to Indian residents due to the restrictions in place for forex trading in India.

menu_book Long story short

Forex traders in India will have a hard time trading non-deliverable spot forex from a margin account unless they use an international forex broker that accepts Indian residents. Many foreign brokers accept clients from India even if they don’t hold regulatory status with the SEBI.

Forex trading in India is highly regulated when it comes to the physical exchange of one currency for another (where actual, physical delivery of the currency takes place) and is legal when done so with a SEBI-regulated broker. When retail traders are speculating on the price of forex by using currency pairs, no physical currency is delivered, and thus many foreign brokers accept clients from India even if they don’t hold regulatory status with the SEBI.

Still, if you are a resident of India and you are considering trading forex using a foreign broker, make sure they are highly regulated. As recently as September 2022, the Reserve Bank of India (RBI) has warned against dealing with foreign brokers that aren’t locally regulated. Additionally, the Central Bank of India has restrictions in place that can make it difficult to deposit and withdraw funds with foreign forex brokers that are not regulated by the SEBI.

RBI vs SEBI

RBI-regulated providers primarily cater to the institutional market (such as large banks and financial institutions). The Securities and Exchange Board of India (SEBI), on the other hand, regulates retail-focused brokerages that offer forex trading in India via currency derivatives and exchange-traded forex products. According to the SEBI, there are at least 2868 entries of registered brokers that hold licenses to offer currency derivatives (forex) in India.

Each broker can have multiple entries on this list. For example, Interactive Brokers is regulated by the SEBI and holds license entries for NSE Clearing, Indian Clearing Corporation Limited (ICCL), Bombay Stock Exchange Limited, and National Stock Exchange of India Limited.

What is forex?

Forex, short for foreign exchange, refers to the trading or exchanging that takes place in international currency markets, in which one currency is bought or sold in return for another foreign currency. The goal for forex traders – and it’s a tricky one – is to profit by accurately predicting fluctuations in value.

There are various types of participants in the forex markets: retail and institutional traders, large corporations, banks, and central banks that help regulate monetary policy, such as when printing money that enters circulation.

There are at least two sides to every forex trade. On one side is a buyer, and on the other side a seller. Forex market participants either have a need for the particular currency, such as for business use or hedging risk; or are speculators taking an investment position expecting the price to move in a favorable direction.

For example, let’s say you have U.S. dollars and expect their value to go down and want to sell them in order to buy euros for an upcoming trip to Europe. Or maybe you expect the euro price to go higher relative to the U.S. dollar and are looking at it as an investment.

Either way, you pay for the euros with your U.S. dollars and agree to exchange the dollars you have for the euros at a specific price (the price can be quoted either in euros per dollar, or dollars per euro). Such a trade can result either in a profit, loss, or break-even, depending on the price when you exit the trade and any fees incurred.

Forex trading is mostly decentralized, though it does take place on regulated exchanges. In most developed countries forex brokers must hold proper licenses with financial market regulators, to help ensure compliance with local laws and regulations.

school Learn more about forex trading

Want to learn more about the fundamentals of forex trading? Check out my in-depth, Forex 101 educational series covering everything you’ll need to know about forex and currency trading. I dive into the ins and outs of leverage, explain how pips work, and more.

Is forex trading safe?

As with most forms of trading or investing, forex carries risk. Beyond the market risk (when the market simply moves against you), it’s also important to consider counterparty risk – when the other side or “party” to your trade fails to uphold it’s part of the trade and/or defaults (for example, if your broker goes bankrupt).

When deciding if trading forex is right for you – or “safe” – the answer will largely depend on your available investment budget, your tolerance (or appetite) for risk, and on the trustworthiness and fiancial stability of your broker.

This includes the broker’s integrity and reliability, but also its level of capitalization and its financial capability to protect itself and the money they hold on your behalf, especially in the extraordinary event of a market anomaly.

health_and_safety Stay safe by avoiding forex scams

Choosing a reputable, well-regulated forex broker is a crucial step towards avoiding forex scams. My educational series dedicated to forex scams shows you how to identify common forex scams and provides helpful information about what to do if you’ve been scammed. I also explain how crypto enthusiasts and bitcoin traders can spot common crypto scams.

How to trade forex in India

To trade forex as a resident of India, you will either be working with a SEBI-regulated broker that offers exchange-traded currency derivatives or with a foreign broker (preferably regulated and trustworthy) that offers retail forex from a margin account.

We’ve put together some important first steps to take if you want to get started trading forex in India:

  1. Decide whether you want to trade off-exchange forex – also known as over-the-counter (OTC) – from a margin account with a foreign forex broker, or if you prefer exchange-traded currency derivatives (i.e. a listed product).
  2. Choose your forex broker; make sure it’s highly regulated to reduce your chances of falling victim to a scam broker.
  3. Consider the available payment methods, and choose the method that will serve you best for depositing and withdrawing funds from your broker.
  4. Open and fund a live brokerage account with an amount you can afford to risk, and then practice trading with a demo account to learn the trading platform software and mobile trading app.
  5. Identify your trading goals and work towards developing a trading plan. Consume as much educational content as you can (your broker is usually a good place to start) to make informed choices about how to structure your trading plan.
  6. Test your trading strategy with live funds, using an amount that you can afford to risk.

When testing trading strategies, make sure to focus on the percentage returns before scaling your strategy to take on higher potential risk/reward levels.

How much money do I need to trade forex in India?

Forex trading in India is limited to exchange-traded currency derivatives and futures, so the amount of money you’ll need to trade forex in India will be dictated by the contract sizes available for trading on the National Stock Exchange (NSE) and the amount of margin required to open a position. You’ll also need to be aware of your broker’s minimum deposit requirements.

If you are using a forex broker based outside of India that offers micro contracts, you can trade forex with as little as $100 (roughly 8,200 Indian Rupees). In this case, your broker will need to accept Indian residents as clients, and will ideally be highly regulated in trusted jurisdictions.

announcement Example forex trade in India with the NSE

Let’s say you wanted to open a position for a EUR/INR forex futures contract on the NSE through your broker. With a January 2024 contract priced at 90.35 INR per euro, you’d need 2,845 INR (roughly 32 euros, as of January 2024) for the margin requirement to open one lot.

What is the best forex broker in India?

IG is our top pick for Indian citizens who are looking for a forex broker that offers forex and CFDs, and also accepts residents of India as clients.

If you specifically want a broker that is also regulated in India, Interactive Brokers is a top contender, as it is a member of the National Stock Exchange, Bombay Stock Exchange and the Securities Exchange Board of India, or SEBI. However, due to regulatory restrictions, Interactive Brokers does not offer forex or CFDs in India.

If your interests lie in stock trading, Interactive Brokers remains an excellent choice due to its access to local stock exchanges in India and 90 international markets, including bonds, stocks and ETFs (including some forex-related exchange-traded products, such as listed currency derivatives).

What is the best forex broker in India?

Company Accepts IN Residents SEBI Regulated Overall Rating Minimum Deposit Average Spread EUR/USD — Standard Visit Site
IG logoIG check £250.00 0.98 info

IG is the best broker for forex trading in India. IG accepts residents of India as clients and outranks the competition in many of our most important review categories. Though technically not regulated by the RBI or SEBI for forex trading in India, IG has obtained the highest Trust Score in our database of over 62 forex brokers. IG’s award-winning offering delivers a wide range of currency pairs, tradeable symbols (including forex options), and complex order types for advanced trading strategies. IG also caters extremely well to beginner forex traders and delivers a rich educational experience for investors who are new to forex trading.

  • Trust Score: Though not regulated by the RBI or SEBI to trade forex in India, IG is one of the most highly regulated brokers in the world. Founded in 1974, IG is publicly traded (LON: IGG), regulated in a staggering 11 jurisdictions, and holds eight Tier-1 licenses. I consider IG to be a Highly Trusted broker for forex trading.
  • Commissions: IG delivers consistent pricing regardless of what you choose to trade. The broker’s Forex Direct account features excellent pricing for active traders.
  • Forex trading platforms: IG offers a wide range of trading platforms for mobile, web, and desktop. These proprietary platforms are some of the best forex trading platforms in India. IG also offers third-party platforms like MetaTrader and premium MT4 add-ons from FX Blue.

Best regulated forex broker in India

Company Accepts IN Residents SEBI Regulated Overall Rating Minimum Deposit Average Spread EUR/USD — Standard Visit Site
Interactive Brokers logoInteractive Brokers check check $0 0.63 info

If you are looking for a forex broker regulated in India, Interactive Brokers is a member of the National Stock Exchange, Bombay Stock Exchange and the Securities Exchange Board of India (SEBI). Interactive Brokers is a highly trusted multi-asset broker that delivers competitive fees, high-quality research and education, as well as a modern trading platform suite. It’s worth noting that, due to regulatory restrictions, Interactive Brokers does not offer forex or CFDs in India.

If your interests lie in stock trading, Interactive Brokers remains an excellent choice due to its access to local stock exchanges in India and 90 international markets, including bonds, stocks and ETFs (including some forex-related exchange-traded products, such as listed currency derivatives).

  • Trust: Founded in 1977, Interactive Brokers is publicly traded (NASDAQ: IBKR), holds a staggering nine Tier-1 regulatory licenses, and regulated by the SEBI for forex trading in India.
  • Forex trading platforms: Interactive Brokers’ award-winning trading platform suite includes its flagship desktop software – Trader Workstation (TWS) – and mobile trading app – IBKR Mobile – both of which provide access to advanced trading tools and global financial markets (including forex and CFDs) for forex traders in India.

What are the best apps for forex in India?

After evaluating forex brokers that accept clients from India, we’ve concluded that the following brokers provide the best mobile apps for forex trading. All of these brokers provide mobile trading apps that feature advanced charting, a rich variety of sophisticated trading tools, and an easy-to-use platform:

  • IG- IG Trading mobile app, IG Academy.
  • Saxo — SaxoTraderGo mobile app.
  • Interactive Brokers — IBKR mobile app and Impact app.
  • FOREX.com — FOREX.com mobile app.
  • AvaTrade — AvaTradeGo mobile app and AvaOptions mobile app.
  • IC Markets — MT4, MT5 and cTrader mobile apps.
  • Capital.com — Capital.com mobile app, Investmate app, and MT4.

Like to trade forex on the go? Check out our in-depth guide to mobile forex trading here, where we’ve tested and scored the forex trading apps of over 40 of the top forex brokers.

Is OctaFX legal in India?

Octa (formerly OctaFX) is not a SEBI-regulated broker, and the brand has attracted attention locally after sponsoring the IPL Cricket Team in Delhi in 2021, and appearing on the RBI alert list alongside other popular brokers – many of which are regulated in countries outside of India. The RBI’s latest alert list was updated to include numerous international brokers, some of which are highly regulated, and some that may lack regulatory licenses of any kind.

The Reserve Bank of India (RBI) periodically puts out warnings to the public about foreign brokers that are not regulated in India by the SEBI. According to the RBI, the list identifies entities that are not authorized to to operate electronic trading platforms under the Electronic Trading Platforms (Reserve Bank) Directions, 2018, or to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA).

Octa is considered an Average-Risk broker with a Trust Score of 70 (out of 99). Octa is regulated by just one Tier-1 jursidiction: the Cyprus Securities & Exchange Commission (CySEC) in Cyprus. Visit our Trust Score page to learn more about the regulators we track, and how we calculate a broker’s Trust Score.

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Best US Forex Brokers of 2024

Steven Hatzakis

ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Here’s how we test.

The U.S. Dollar (USD) is the most traded currency in the largest financial market in the world – the global forex market. According to the latest forex market survey of central banks from the Bank for International Settlements (BIS), the USD was on one side of 88% of all trades in a global forex market with over $7.5 trillion in daily average volume (as of April 2022). As forex trading has become increasingly popular in the United States, more online forex brokers have begun offering currency-related investment products.

U.S. forex traders benefit from a robust regulatory environment designed to keep consumers and traders safe from forex scams. Before forex brokers can accept U.S. forex traders as clients, they must become registered as Retail Foreign Exchange Dealer (RFED) by the financial regulatory body, the Commodity Futures Trading Commission (CFTC) and also regulated by the National Futures Association (NFA) as a Futures Commission Merchant (FCM). The NFA website is nfa.futures.org. We recommend US residents also follow the CFTC on Twitter, @CFTC.

The CFTC is a federal regulatory agency that was established by Congress in 1974 with jurisdiction over the commodity futures (derivatives) markets. The same legislation authorized the creation of the registered futures associations, and in 1982 the NFA started as a self-regulatory organization for the US derivatives industry. For a historical breakdown here is a link to the NFA’s webpage on Wikipedia.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best US Forex Brokers for 2024

To find the best forex brokers in the USA, we created a list of all CFTC registered brokers, then ranked brokers by their Overall ranking.

Here is our list of the top forex brokers in the United States:

  • IG — Best overall broker, most trusted
  • Interactive Brokers — Great overall, best for professionals
  • FOREX.com

Best Forex Brokers US Comparison

Compare US registered forex brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by my overall rankings of the top forex brokers.

Company Accepts US Residents CFTC Registered Average Spread EUR/USD — Standard Minimum Deposit Overall Rating Visit Site
IG logoIG check check 0.98 info £250.00
Interactive Brokers logoInteractive Brokers check check 0.63 info $0
FOREX.com check check 1.4 info $100 Visit Site

If you live in the United States, you can read our picks for best U.S. forex brokers, featuring likes, dislikes and a bottom-line summary for each broker.

How to Verify CFTC Registration

To identify if a forex broker is CFTC-registered and regulated by the NFA, the first step is to identify the NFA ID number from the disclosure text at the bottom of the broker’s U.S. homepage. For example, here’s the key disclosure text from FOREX.com’s website:

FOREX.com is a registered FCM and RFED with the CFTC and member of the National Futures Association (NFA # 0339826).

Next, look up the firm on the NFA website, using the Background Affiliation Status Information Center (BASIC) tool to validate the current status of the ID number. For example, here is the official NFA page for FOREX.com, using the BASIC search tool.

About the CFTC

The Commodity Futures Trading Commission (CFTC) is a governmental regulatory organization in the United States that is authorized by Congress as the principal financial markets regulator for U.S. derivatives markets. In this role, the CFTC aims to uphold market integrity, implement efficient regulations for market participants, and reduce the potential for fraud.

The CFTC oversees a wide range of markets; commodities futures and options, foreign exchange, exchange-traded securities, and securities traded in OTC markets all come under the CFTC’s purview.

In addition to the CFTC, registrants typically must also hold regulatory status with the National Futures Association (NFA), which is a member-based self-regulatory organization (SRO) that is designated by the CFTC to help enforce compliance. Forex brokers that operate in the U.S. must be registered with the CFTC and are highly regulated, making them among the most trusted brokers globally.

Learn the forex trading basics

We’ve put together a snapshot of some important forex concepts to help get you acquainted with the basics of forex trading:

  • Forex trading is the exchange of one currency for another between two parties at an agreed-upon exchange rate. One side of the trade is buying units of the base currency pair, and the other side is selling that same quantity at a mutually-agreed upon price.
  • Forex Brokers are companies that are licensed by a regulatory agency (for U.S. traders, by the CFTC and NFA) to grant you the ability to buy or sell currencies through an online trading platform.
  • Currency pairs are based on the price of one currency (the counter currency) for a specific quantity of units of the other (the base currency). The currency code on the left side of the pair (EUR/USD) denotes what you are buying or selling, and the one on the right (EUR/USD) represents the price – or rate – at which the base currency is being bought or sold.
  • Trade sizes are expressed in units. For example, one U.S. dollar is a single unit of the USD. A standard lot is typically 100,000 units of base currency. A mini lot is 10,000 units, and a micro lot is 1,000 units.
  • Spreads are typically measured in a unit called a “pip”, and they communicate the difference between the “bid” price and the “ask” price for a currency pair. Spreads, commissions, and rollover fees are ways for forex brokers to make money from forex trades. Our guide to the best zero spread brokers can help you find forex brokers with the lowest spreads in the industry.

school Forex for beginners

If you are just getting started with forex trading, you can check out our popular guide to forex trading for beginners. Our beginner’s guide will introduce you to forex brokers that are great for beginner forex traders, and provides resources to help newer traders learn more about forex trading.

Is forex trading legal in the United States?

Yes, forex trading is legal in the U.S. and regulated by the Commodity Futures Trading Commission (CFTC). Forex brokers in the U.S. are required to register as Futures Commission Merchants (FCMs) and Forex Dealer Members (FDMs) with the CFTC and NFA. In addition to complying with CFTC regulations and NFA member rules, brokers that offer forex trading to retail clients in the U.S. must maintain at least $20 million in regulatory capital as a Retail Forex Exchange Dealer (RFED) with the CFTC (and as a member of the NFA). These stringent regulatory requirements have made the U.S. one of the most trusted regulatory hubs for forex traders.

security Why regulation is important

Choosing a reputable, well-regulated forex broker is a crucial step towards avoiding forex scams. My educational series dedicated to forex scams shows you how to identify common forex scams and provides helpful information about what to do if you’ve been scammed. I also explain how crypto enthusiasts and bitcoin traders can spot common crypto scams.

Which forex brokers are legal in the U.S.A?

According to the CFTC’s most recent regulatory data (as of October 31st, 2022), there are 62 registered Futures Commission Merchants (FCMs) in the U.S., and at least six of those FCMs hold sufficient regulatory capital and the required licenses to legally offer forex trading to U.S. residents. Based on the CFTC’s own data, the following brokers offer legal forex trading in the U.S.:

  • IG — Legally available to retail clients in the U.S.
  • FOREX.com — Legally available to retail clients in the U.S.
  • OANDA — Legally available to retail clients in the U.S.
  • TD Ameritrade — Legally available to retail clients in the U.S.
  • Interactive Brokers — Legally available in the U.S., but only to institutional clients.
  • Trading.com — (U.S. brand under XM Group’s parent company, Trading Point) — Legally available to retail clients in the U.S.

How do you trade forex in the U.S.A?

To start trading forex in the U.S., it’s important to choose a forex broker that is well-regulated and licensed in the U.S. by the CFTC and the NFA. Once you’ve chosen a regulated forex broker, you can use these next steps as a guide to start trading forex in the U.S.:

  1. Account setup. Complete your forex broker’s account application process. Make sure to read through any applicable terms and conditions.
  2. Deposit funds. Once your account is set up, your new brokerage account needs to be funded. Brokers usually have multiple available deposit methods, so pick the funding method that works best for you. PayPal is a popular option for many forex traders, find out which brokers support it as a payment method by reading our PayPal guide for forex traders.
  3. Learn how to use the trading platform. It’s always a good idea to start out with a demo account (sometimes known as virtual trading) to familiarize yourself with the broker’s trading platform.
  4. Enter the forex market. Choose your desired trade size, and open a long position by clicking buy on a given currency, or open a short position by clicking sell.
  5. Develop a trading plan. Create a trading strategy that will enable you to trade consistently while pursuing your trading goals and managing risks. This is one of the most important factors that will determine your long-term success as a trader.

Questions to ask yourself when developing a trading strategy include:

  • What are my trading goals, and how do they fit into my lifestyle?
  • How will I find trading opportunities?
  • How long do I want to be in the market when I place a trade?
  • What is my ideal trade size based on my expected trading duration and risk/reward thresholds?
  • What is the most I want to risk on a trade?

school How to start forex trading

Learn more about getting started as a forex trader by checking out my in-depth Forex 101 educational series. I go over everything you need to know to start out as a forex trader; you’ll learn about forex and currency trading, leverage in the forex market, how to calculate pips, and more.

Do you pay tax on forex trading in the U.S.?

Yes, U.S. residents and U.S. citizens must report their worldwide income in the U.S. – including any gains from forex trading. These can be taxed as capital gains (or may be treated as business income, if you have a corporate account). In any case, U.S. residents and/or citizens may be liable to pay taxes on any gains from forex trading – regardless of whether your broker sends you a form 1099-B.

It’s important to communicate to your tax professional the exact type of trading you are doing. For example, trading spot forex in the OTC markets may be treated differently (for tax purposes) than trading an exchange-traded forex futures contract, and certain forex contracts may be treated as a commodities contract (under Section 1256g), depending on the elections made by your tax professional.

What is the best forex broker in the U.S.?

IG is the best forex broker in the U.S. in 2024. In addition to being regulated by the CFTC and a member of the NFA, IG is publicly traded, well-capitalized, and holds more regulatory licenses around the world than any of the 60+ forex brokers we review on ForexBrokers.com. Simply put, IG is a well-regulated and highly trusted forex broker.

IG web trading platform IG web trading order window trading form chart IG web trading platform charts. IG web trading platform signals Autochartist IG web options trading platform options chain IG web options trading platform IG cryptocurrency watchlist IG MT4 desktop trading platform IG MT4 desktop trading platform charts

Check out a gallery of screenshots from IG’s web trading platforms, taken by our research team during our product testing.

IG offers a wide range of asset classes beyond forex trading, and consistently ranks at the top of nearly all of the categories we factor into our forex broker reviews. Read our full-length review of IG to learn why we consider IG to be the top choice for U.S. forex traders.

Which U.S. forex broker has the best mobile trading app?

When it comes to U.S.-regulated forex brokers, the best mobile trading app in 2024 is offered by IG. A range of powerful design innovations and trading tools set IG’s proprietary mobile app apart, such as trading signals (for U.S. traders who are interested in social copy trading), seamlessly integrated research, and a sophisticated order entry dialogue that makes managing trades a breeze. IG’s mobile app also features the most advanced charting I’ve ever used on a mobile device.

IG trading mobile app charting IG trading mobile app watchlist IG mobile app basic view IG trading mobile app signal center IG trading mobile app pattern recognition signals IG trading mobile app news headlines IG mobile app contract specifications IG mobile app alerts IG mobile app trading tools

Check out a gallery of screenshots from IG’s mobile trading apps, taken by our research team during our product testing.

In addition to its flagship mobile trading app, IG offers its standalone IG Academy app that features dedicated educational resources for beginners. To round out its mobile trading app offering, IG also offers the popular MetaTrader 4 (MT4) app (check out our full guide to MetaTrader).

smartphone Forex trading on the go?

Mobile forex trading is more popular than ever, and many of the best international forex brokers offer multiple mobile apps and well-designed mobile trading platforms. Check out my guide to mobile forex trading to see my picks for the best mobile apps.

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2024 Review Methodology

At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).

Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.

We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.

Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score.

All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. Read our Generative AI policy to learn more.

Read our full explanation and accounting of our research and testing process to learn more about how we test.

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.

About the Editorial Team

Steven Hatzakis

Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

John Bringans

John Bringans is the Senior Editor of ForexBrokers.com. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.

Joey Shadeck

Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.

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