13 Best Forex Brokers in India for 2025

13 Best Forex Brokers in India for 2025: Compare Top 13 Regulated Brokers by Spreads, Swap, Fees & Trustworthiness

Best Forex Brokers in India for 2025

Best Overall Forex Brokers in India – Axi
Most Popular Forex Brokers in India – XM
Most Trusted Forex Brokers in India – Axi, XM
Lowest Spread Forex Brokers in India – IC Markets
Swap Free Forex Brokers in India – HFM
Lowest Minimum Deposit Forex Brokers in India – Axi, HFM, XM
Highest Leverage Forex Brokers in India – JustMarkets
Forex Broker with Most Trading Platforms in India – Pepperstone, Vantage, FP Markets

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#	Broker	Overall Score (Out of 100)	Popularity (Google Monthly Searches)	Trust Score (Out of 100)	Avg. Spread (Point per lot)	Swap (USD per lot per night)	Min. Deposit	Max. Leverage	Platform
1	Axi Open Account↗︎	91.25	5,400	98.75	12.74	-3	$5	1,000	MT4, MT5, Axi App
2	IC Markets Open Account↗︎	89.32	8,100	88.75	9.74	-7	$100	1,000	MT4, MT5, cTrader, Tradingview, IC Social
3	Pepperstone Open Account↗︎	89.25	3,600	92.50	12.00	-4	$25	500	MT4, MT5, cTrader, TradingView, Pepperstone Trading Platform
4	Eightcap Open Account↗︎	84.18	1,000	87.50	13.17	-5	$50	500	MT4, MT5, TradingView
5	Vantage Open Account↗︎	78.51	2,900	85.00	16.14	-4	$50	2,000	MT4, MT5, Tradingview, Vantage App, Protrader
6	FP Markets Open Account↗︎	78.39	2,900	77.50	14.60	-4	$25	500	MT4, MT5, FP Markets App, TradingView, cTrader
7	AvaTrade Open Account↗︎	72.80	3,600	92.50	19.86	-6	$100	400	MT4, MT5, WebTrader, AvaTrade App, AvaOptions
8	FxPro Open Account↗︎	71.51	1,900	81.25	18.14	-6	$100	500	MT4, MT5, cTrader, FxPro App, FxPro Trading Platform
9	LiteFinance Open Account↗︎	70.73	480	66.25	16.29	-4	$10	1,000	MT4, MT5, cTrader, LiteFinance App
10	RoboForex Open Account↗︎	70.45	2,400	72.50	15.89	-8	$10	2,000	MT4, MT5, MobileTrader App
11	HFM Open Account↗︎	69.41	5,400	76.25	21.03	0	$5	2,000	MT4, MT5, HFM App
12	JustMarkets Open Account↗︎	64.53	2,900	61.25	12.40	-17	$15	3,000	MT4, MT5, JustMarkets App
13	XM Open Account↗︎	64.21	60,500	98.75	25.80	-6	$5	1,000	MT4, MT5, XM App

Explanation of the Forex Broker Comparison Table

The primary metric for our ranking, the Overall Score provides a holistic view of a broker's performance. It is a weighted average calculated from three critical components:

Formula: (Trust Score x 40%) + (Spread Score x 40%) + (Swap Score x 20%)

Here’s how the cost-related scores are calculated:

Spread Score: This score is derived from the Avg. Spread value. We use a linear scale normalization method where the broker with the lowest spread (most favorable) receives a score of 100, and the broker with the highest spread receives a score of 25.
Swap Score: This score is based on the combined cost of Swap Long + Swap Short. Using the same linear scale normalization, the broker with the lowest total swap cost (most favorable) is awarded 100 points, while the broker with the highest total swap cost gets 25 points.

This formula places the highest emphasis on trust and core trading costs (spreads), which are paramount for a trader's success and security.

This figure represents the average monthly search volume for the broker's name from July 2024 to June 2025. The data is sourced from Google Keyword Planner and is specific to searches conducted within India.

A broker's credibility is non-negotiable. This score is a comprehensive assessment based on six key factors:

Regulatory Licenses: The quality and number of licenses from reputable financial authorities.
User Reviews: Aggregated feedback from traders on various platforms.
Year Founded: The broker's operational history and longevity.
Search Volume: A measure of public interest and brand relevance.
Trading Platforms: The stability and features of their software.
Tradable Assets: The diversity of the product offering.

For our detailed scoring methodology, please visit: sakainvest.com/trusted-forex-broker-ranking/

The spread is a primary trading cost, representing the difference between the bid and ask price. A lower spread is always better, as it reduces your cost of entry and improves potential profitability.

Our Data: This value is the average spread calculated across 7 major currency pairs (EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, USDCHF, NZDUSD) on a Standard Account. The test was conducted on March 6, 2025, at 13:11 (GMT+7).

This refers to a separate fee charged per trade, typically per lot. The commission is listed as “0” for all brokers in this table because our analysis is based on Standard Accounts, which typically incorporate their fees into the spread rather than charging a separate commission.

Swap, or overnight financing, is the fee charged for holding a position open overnight. It can be a credit or a debit. This is a crucial cost for swing and position traders. A lower (or positive) swap is more favorable.

Our Data: The figure in the table is the sum of the Swap Long and Swap Short values (in USD per 1 lot), representing the combined cost of holding a position overnight.

The minimum initial deposit required to open a live trading account with the broker, listed in USD. A low minimum deposit provides an accessible entry point for new traders.

Leverage allows traders to control a larger position size with a smaller amount of capital. For example, with 1:1000 leverage, you can control a $100,000 position with just $100 of your own capital.

Warning: While high leverage can amplify profits, it also magnifies losses. It is a powerful tool that must be used with a sound risk management strategy.

The software applications provided by the broker for executing trades. MT4 (MetaTrader 4) and MT5 (MetaTrader 5) are the industry standards, known for their robustness and extensive charting tools. Many brokers also offer proprietary platforms and mobile apps.

1.Axi

Axi is recognized as the Best Overall Forex Broker in India for 2025, offering a premium choice for serious traders. It is also one of the Most Trusted brokers with a top trust score of 98.75 and provides an accessible entry point with a $5 minimum deposit.

Open Axi Account↗︎

Axi Summary

Overall Score91.25

Trust Score98.75

Spread Score85.99

Swap Score86.76

👮‍♂️ Trust Score	98.75
💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD	13 Points / 1 Lot 16 USD / 1 Lot 0.0218% / 1 BTC
🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD	-6 (USD per lot per night) +3 (USD per lot per night)
🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD	-40 (USD per lot per night) 17 (USD per lot per night)
🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD	-35 (USD per btc per night) -12 (USD per btc per night)
💰Commission	No Commission Charged on Standard Accounts
💵 Minimum Deposit	5 USD
💵 Minimum Withdrawal	5 USD
📊 Instruments	Forex, Crypto, Stocks, Indices, Commodities
🖥️ Trading Platform	MT4, MT5, Axi App
⚖️ Maximum Leverage	1:1000

2.IC Markets

IC Markets is a Forex broker offering the lowest spreads in India, with an average Forex spread of just 9.74 points per lot across 7 major currency pairs, making it ideal for traders who prefer short-term speculative trading.

Open IC Markets Account↗︎

IC Markets Summary

Overall Score89.32

Trust Score88.75

Spread Score100

Swap Score69.12

👮‍♂️ Trust Score	88.75
💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD	8 Points / 1 Lot 19.4 USD / 1 Lot 0.0242% / 1 BTC
🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD	-9 (USD per lot per night) +2 (USD per lot per night)
🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD	-42 (USD per lot per night) +21 (USD per lot per night)
🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD	-47 (USD per lot per night) 0 (Swap Free)
💰Commission	No Commission Charged on Standard Accounts
💵 Minimum Deposit	100 USD
💵 Minimum Withdrawal	1 USD
📊 Instruments	Forex, Crypto, Stocks, Indices, Commodities, Bonds, Futures
🖥️ Trading Platform	MT4, MT5, cTrader, Tradingview, IC Social
⚖️ Maximum Leverage	1:1000

3.Pepperstone

Pepperstone stands out for offering a wide array of trading platforms, including MT4, MT5, cTrader, TradingView, and its proprietary Pepperstone Trading Platform, catering to diverse trading preferences.

Open Pepperstone Account↗︎

Pepperstone Summary

Overall Score89.25

Trust Score92.5

Spread Score89.45

Swap Score82.35

👮‍♂️ Trust Score	92.50
💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD	10 Points / 1 Lot 13 USD / 1 Lot 0.0269% / 1 BTC
🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD	-8 (USD per lot per night) +4 (USD per lot per night)
🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD	-42 (USD per lot per night) +23 (USD per lot per night)
🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD	-43 (USD per lot per night) +8 (USD per lot per night)
💰Commission	No Commission Charged on Standard Accounts
💵 Minimum Deposit	25 USD
💵 Minimum Withdrawal	80 USD
📊 Instruments	Forex, Crypto, Stocks, Indices, Commodities, ETF
🖥️ Trading Platform	MT4, MT5, cTrader, TradingView, Pepperstone Trading Platform
⚖️ Maximum Leverage	1:500

4.Eightcap

Eightcap provides a well-rounded trading experience with a strong Trust Score of 87.50 and competitive average spreads, including an average EURUSD spread of 11.20 points, suitable for various trading strategies.

Open Eightcap Account↗︎

Eightcap Summary

Overall Score84.18

Trust Score87.5

Spread Score83.98

Swap Score77.94

👮‍♂️ Trust Score	87.50
💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD	11.20 Points / 1 Lot 13 USD / 1 Lot 0.0361% / 1 BTC
🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD	-8 (USD per lot per night) +3 (USD per lot per night)
🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD	-47 (USD per lot per night) +26 (USD per lot per night)
🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD	-47 (USD per lot per night) +12 (USD per lot per night)
💰Commission	No Commission Charged on Standard Accounts
💵 Minimum Deposit	50 USD
💵 Minimum Withdrawal	50 USD
📊 Instruments	Forex, Crypto, Stocks, Indices, Commodities
🖥️ Trading Platform	MT4, MT5, TradingView
⚖️ Maximum Leverage	1:500

5.Vantage

Vantage offers high maximum leverage up to 1:2000 and provides a diverse range of trading platforms, including MT4, MT5, TradingView, its own Vantage App, and Protrader.

Open Vantage Account↗︎

Vantage Summary

Overall Score78.51

Trust Score85

Spread Score70.11

Swap Score82.35

👮‍♂️ Trust Score	85.00
💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD	13.40 Points / 1 Lot 22 USD / 1 Lot 0.1124% / 1 BTC
🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD	-7 (USD per lot per night) +3 (USD per lot per night)
🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD	-38 (USD per lot per night) +18 (USD per lot per night)
🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD	0 (Swap Free) 0 (Swap Free)
💰Commission	No Commission Charged on Standard Accounts
💵 Minimum Deposit	50 USD
💵 Minimum Withdrawal	30 USD
📊 Instruments	Forex, Crypto, Stocks, Indices, Commodities, ETF, Bonds
🖥️ Trading Platform	MT4, MT5, Tradingview, Vantage App, Protrader
⚖️ Maximum Leverage	1:2000

6.FP Markets

FP Markets is notable for its comprehensive selection of trading platforms, including MT4, MT5, FP Markets App, TradingView, and cTrader, alongside an accessible minimum deposit of $25.

Open FP Markets Account↗︎

FP Markets Summary

Overall Score78.39

Trust Score77.5

Spread Score77.3

Swap Score82.35

👮‍♂️ Trust Score	77.50
💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD	11.40 Points / 1 Lot 19.40 USD / 1 Lot 0.0283% / 1 BTC
🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD	-5 (USD per lot per night) +1 (USD per lot per night)
🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD	-30 (USD per lot per night) +5 (USD per lot per night)
🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD	-47 (USD per lot per night) -5 (USD per lot per night)
💰Commission	No Commission Charged on Standard Accounts
💵 Minimum Deposit	25 USD
💵 Minimum Withdrawal	25 USD
📊 Instruments	Forex, Crypto, Stocks, Indices, Commodities, Bonds, ETF
🖥️ Trading Platform	MT4, MT5, FP Markets App, TradingView, cTrader
⚖️ Maximum Leverage	1:500

7.AvaTrade

AvaTrade stands out for its high Trust Score of 92.50, indicating strong credibility, and offers a variety of trading platforms including MT4, MT5, WebTrader, AvaTrade App, and AvaOptions.

Open AvaTrade Account↗︎

AvaTrade Summary

Overall Score72.8

Trust Score92.5

Spread Score52.74

Swap Score73.53

👮‍♂️ Trust Score	92.50
💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD	13 Points / 1 Lot 30 USD / 1 Lot 0.0986% / 1 BTC
🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD	-45 (USD per lot per night) +24 (USD per lot per night)
🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD	-30 (USD per lot per night) +5 (USD per lot per night)
🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD	-40 (USD per lot per night) 0 (Swap Free)
💰Commission	No Commission Charged on Standard Accounts
💵 Minimum Deposit	100 USD
💵 Minimum Withdrawal	100 USD
📊 Instruments	Forex, Crypto, Stocks, Indices, Commodities, ETF, Bonds
🖥️ Trading Platform	MT4, MT5, WebTrader, AvaTrade App, AvaOptions
⚖️ Maximum Leverage	1:400

8.FxPro

FxPro offers a diverse range of trading platforms, including MT4, MT5, cTrader, and its proprietary FxPro App and Trading Platform, providing flexibility for traders.

Open FxPro Account↗︎

FxPro Summary

Overall Score71.51

Trust Score81.25

Spread Score60.77

Swap Score73.53

👮‍♂️ Trust Score	81.25
💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD	14.00 Points / 1 Lot 35.80 USD / 1 Lot 0.0986% / 1 BTC
🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD	-8 (USD per lot per night) +2 (USD per lot per night)
🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD	-46 (USD per lot per night) +13 (USD per lot per night)
🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD	-47 (USD per lot per night) -47 (USD per lot per night)
💰Commission	No Commission Charged on Standard Accounts
💵 Minimum Deposit	100 USD
💵 Minimum Withdrawal	100 USD
📊 Instruments	Forex, Crypto, Stocks, Indices, Commodities, ETF
🖥️ Trading Platform	MT4, MT5, cTrader, FxPro App, FxPro Trading Platform
⚖️ Maximum Leverage	1:500

9.LiteFinance

LiteFinance offers an accessible entry point for traders with a low minimum deposit of just $10, alongside a maximum leverage of 1:1000.

Open LiteFinance Account↗︎

LiteFinance Summary

Overall Score70.73

Trust Score66.25

Spread Score69.41

Swap Score82.35

👮‍♂️ Trust Score	66.25
💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD	15.00 Points / 1 Lot 39 USD / 1 Lot 0.1873% / 1 BTC
🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD	-7 (USD per lot per night) +3 (USD per lot per night)
🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD	-54 (USD per lot per night) 0 (Swap Free)
🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD	-58 (USD per lot per night) -58 (USD per lot per night)
💰Commission	No Commission Charged on Standard Accounts
💵 Minimum Deposit	10 USD
💵 Minimum Withdrawal	10 USD
📊 Instruments	Forex, Crypto, Stocks, Indices, Commodities
🖥️ Trading Platform	MT4, MT5, cTrader, LiteFinance App
⚖️ Maximum Leverage	1:1000

10.RoboForex

RoboForex provides high maximum leverage up to 1:2000 and an affordable minimum deposit of $10, making it appealing for traders looking for high capital efficiency and low entry barriers.

Open RoboForex Account↗︎

RoboForex Summary

Overall Score70.45

Trust Score72.5

Spread Score71.28

Swap Score64.71

👮‍♂️ Trust Score	72.50
💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD	13.40 Points / 1 Lot 19.70 USD / 1 Lot Not available for trading
🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD	-9 (USD per lot per night) +1 (USD per lot per night)
🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD	-29 (USD per lot per night) -3 (USD per lot per night)
🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD	Not available for trading Not available for trading
💰Commission	No Commission Charged on Standard Accounts
💵 Minimum Deposit	10 USD
💵 Minimum Withdrawal	10 USD
📊 Instruments	Forex, ETF, Stocks, Indices, Commodities
🖥️ Trading Platform	MT4, MT5, MobileTrader App
⚖️ Maximum Leverage	1:2000

11.HFM

HFM is recognized as a Swap Free Forex Broker and stands out as one of the best brokers for swap costs with a Swap Score of 100, offering swap-free trading on major pairs like EURUSD and XAUUSD. It also provides an extremely low minimum deposit of $5 and high maximum leverage up to 1:2000.

Open HFM Account↗︎

HFM Summary

Overall Score69.41

Trust Score76.25

Spread Score47.28

Swap Score100

👮‍♂️ Trust Score	72.50
💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD	16.60 Points / 1 Lot 28.50 USD / 1 Lot 0.0472% / 1 BTC
🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD	0 (Swap Free) 0 (Swap Free)
🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD	0 (Swap Free) 0 (Swap Free)
🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD	-19 (USD per lot per night) -9 (USD per lot per night)
💰Commission	No Commission Charged on Standard Accounts
💵 Minimum Deposit	5 USD
💵 Minimum Withdrawal	5 USD
📊 Instruments	Forex, Crypto, Stocks, Indices, Commodities, Bonds, ETF
🖥️ Trading Platform	MT4, MT5, HFM App
⚖️ Maximum Leverage	1:2000

12.JustMarkets

JustMarkets offers the highest maximum leverage in India at 1:3000, allowing traders to control significantly larger positions with smaller capital.

Open JustMarkets Account↗︎

JustMarkets Summary

Overall Score64.53

Trust Score61.25

Spread Score87.58

Swap Score25

👮‍♂️ Trust Score	61.25
💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD	9.00 Points / 1 Lot 18.00 USD / 1 Lot 0.0358% / 1 BTC
🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD	-13 (USD per lot per night) -4 (USD per lot per night)
🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD	-71 (USD per lot per night) -84 (USD per lot per night)
🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD	-85 (USD per lot per night) -56 (USD per lot per night)
💰Commission	No Commission Charged on Standard Accounts
💵 Minimum Deposit	15 USD
💵 Minimum Withdrawal	10 USD
📊 Instruments	Forex, Crypto, Stocks, Indices, Commodities
🖥️ Trading Platform	MT4, MT5, JustMarkets App
⚖️ Maximum Leverage	1:3000

13.XM

XM is the Most Popular Forex Broker in India with 60,500 monthly Google searches and is also one of the Most Trusted brokers with a top Trust Score of 98.75. It offers an accessible entry with a minimum deposit of just $5.

Open XM Account↗︎

XM Summary

Overall Score64.21

Trust Score98.75

Spread Score25

Swap Score73.53

👮‍♂️ Trust Score	98.75
💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD	20.60 Points / 1 Lot 37.10 USD / 1 Lot 0.0727% / 1 BTC
🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD	-9 (USD per lot per night) +3 (USD per lot per night)
🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD	-43 (USD per lot per night) +18 (USD per lot per night)
🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD	-35 (USD per lot per night) -35 (USD per lot per night)
💰Commission	No Commission Charged on Standard Accounts
💵 Minimum Deposit	5 USD
💵 Minimum Withdrawal	5 USD
📊 Instruments	Forex, Crypto, Stocks, Indices, Commodities
🖥️ Trading Platform	MT4, MT5, XM App
⚖️ Maximum Leverage	1:1000

Choosing the Best Forex Broker in India

1. Reliability

We should choose a highly reliable Forex broker by considering multiple factors such as being regulated by government agencies from highly credible countries, having a long establishment history, and good app review scores.

We have conducted detailed ranking and scoring of each broker's reliability. Click to view

This reliability aspect is extremely important, so we assign it a 40% weighting in our ranking.

2. Spread

Spread is the fee that must be paid every time an order is opened. Therefore, you should use a broker with low Forex spreads.

This spread aspect is also very important, so we assign it a 40% weighting in our ranking.

3. Swap

Swap is the interest that must be paid or received when holding orders overnight. Therefore, you should choose a broker with low swap rates.

This swap aspect is less important than spreads because it only applies when we hold orders overnight. We therefore assign it a 20% weighting in our ranking.

How We Rank Best Forex Brokers in India

Ranking based on all 3 aspects, with scores and weightings according to importance as follows:

Reliability – Full score 100, Score weighting 40%
- View reliability scoring methodology → Click to view
Spread – Full score 100, Score weighting 40%
- Scored using Linear Scale Normalization
- Broker with lowest spread gets 100 points
- Broker with highest spread gets 25 points
Swap – Full score 100, Score weighting 20%
- Scored using Linear Scale Normalization
- Broker with lowest swap gets 100 points
- Broker with highest swap gets 25 points

Finally, multiply each aspect's score by its percentage weighting, then combine the values to get the overall score.

Then rank brokers by their scores from highest to lowest.

Important Notes:

For fairness, spread and swap testing for all brokers uses the same Standard account type.
All brokers have no additional commission fees because we use Standard accounts.
Average spread for 7 currency pairs: EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, USDCHF, NZDUSD

Reference Data

Forex Spread

This comparison uses standard, commission-free accounts for all brokers.
Spreads recorded on March 6, 2025, at 13:11 (GMT+7).
Spreads are variable and subject to change based on market conditions.

Gold (XAUUSD) Spread

This comparison uses standard, commission-free accounts for all brokers.
Spreads recorded on March 3, 2025, at 15:39 (GMT+7).
Spreads are variable and subject to change based on market conditions.

Bitcoin (BTCUSD) Spread

This comparison uses standard, commission-free accounts for all brokers.
Spreads recorded on March 11, 2025, at 15:47 (GMT+7).
Spreads are variable and subject to change based on market conditions.

Swap

Swap = 0 means the broker is swap-free.
Swap Rate: Positive (+) means you earn; Negative (-) means you pay.
Swap recorded on March 3, 2025.

Popularity

*Data as of July 2024 – June 2025

FAQ

Axi is ranked as the “Best Overall Forex Broker in India” with a total score of 91.25 out of 100 because it performs exceptionally well across all key areas. It is one of the most trusted brokers with a Trust Score of 98.75, offers competitive spreads, and has favorable swap rates. Additionally, with a low minimum deposit of just $5, it's highly accessible for traders of all levels.

IC Markets stands out as the “Lowest Spread Forex Broker in India.” It offers an impressive average spread of just 9.74 points per lot across major currency pairs, making it an excellent choice for scalpers and high-frequency traders.

When it comes to trustworthiness, Axi and XM share the top spot. Both brokers achieved a near-perfect Trust Score of 98.75 out of 100, indicating a strong regulatory standing and a long history of reliability, making them some of the best forex brokers in India for traders who prioritize security.

XM is recognized as the “Most Popular Forex Broker in India,” attracting approximately 60,500 Google searches per month from within the country. Its high visibility is matched by a top-tier Trust Score of 98.75.

For traders just starting out, Axi, HFM, and XM are excellent options. They are ranked as the “Lowest Minimum Deposit Forex Brokers in India,” each requiring only a $5 minimum deposit to open an account and start trading.

JustMarkets offers the “Highest Leverage Forex Broker in India” with a maximum leverage of up to 1:3000. This allows experienced traders to control larger positions with a smaller amount of capital, though it also significantly increases risk.

HFM is highlighted as the best “Swap Free Forex Broker in India.” It achieved a perfect Swap Score of 100, offering zero overnight fees on major pairs like EUR/USD and XAU/USD, making it especially ideal for medium or long-term traders who frequently hold orders overnight, as it helps save a significant amount on fees.

The ranking methodology is based on a weighted scoring system totaling 100%:

Reliability (40% weight): Considers regulation, operational history, and user reviews.
Spreads (40% weight): Measures the average cost of opening trades on a standard, commission-free account.
Swap Fees (20% weight): Evaluates the cost of holding positions overnight.

13 Best Forex Brokers in India for 2025

Best Forex Brokers in India for 2025

1.Axi

2.IC Markets

3.Pepperstone

4.Eightcap

5.Vantage

6.FP Markets

7.AvaTrade

8.FxPro

9.LiteFinance

10.RoboForex

11.HFM

12.JustMarkets

13.XM

Choosing the Best Forex Broker in India

1. Reliability

2. Spread

3. Swap

How We Rank Best Forex Brokers in India

Reference Data

Forex Spread

Gold (XAUUSD) Spread

Bitcoin (BTCUSD) Spread

Swap

Popularity

FAQ

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Best Forex Brokers in India for 2025

1.Axi

2.IC Markets

3.Pepperstone

4.Eightcap

5.Vantage

6.FP Markets

7.AvaTrade

8.FxPro

9.LiteFinance

10.RoboForex

11.HFM

12.JustMarkets

13.XM

Choosing the Best Forex Broker in India

1. Reliability

2. Spread

3. Swap

How We Rank Best Forex Brokers in India

Reference Data

Forex Spread

Gold (XAUUSD) Spread

Bitcoin (BTCUSD) Spread

Swap

Popularity

FAQ

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