Indian Forex Brokers

[parth6078]

for a forex learning which broker or platform has best demo account .i am seriously thinking for learn pls guide me sir . accentually i am religare client so today i got form for forex they offer that service. but they said there trading time is to 5 pm like ncdex .but i heard that forex is 24*7 they said that is for international client i can't really understand pls guide me u r broker what they provide for forex . i mean there terminal bkg other things. sir i initially invest 5 lakh rs because i am novice to forex . mammoth like forex i initially start with 5 to 6 lakh . so need 24*7 broker services. but sir now u & sumitdoshi ji has suggested open a demo account so i open demo account with alpari us. any more suggestion specially religare services for forex they r very good in commodity, equity but don't know about forex.!

What are you talking about is the 4 pairs traded on mcx-sx/nsefx ..usd/inr, gbp/inr, eur/inr, jpy/inr ..trading time is 9 am to 5 pm

 

[kradhavijaytji]

Sir,is it possible now to transfer funds for forex trading to fxcm even after rbi's ruling against it ? How could you transfer money to them ? Have you ever withdrawn your profits from fxcm? Is fxcm trustworthy?

Thanking you

 

[fxgood]

Sir,is it possible now to transfer funds for forex trading to fxcm even after rbi's ruling against it ? How could you transfer money to them ? Have you ever withdrawn your profits from fxcm? Is fxcm trustworthy?

Thanking you

Fxcm is thought one of largest FDM i still don't trust any market makers, irrespective of their size, presence and reputation, i prefer ecn/stp type broker like fxcentral, currenex etc

 

[fxgood]

Regulation is not always relevant to quality in some cases.

Some how true, but for big funds regulation matters...

 

[fxmaniac]

Hi,

Is there any list of all forex broker's with direct Indian support office is available and i see only 2 brokers have them at moment, so based on user opinion about them please take this poll and provide review about them.

1.Forex4you
2.Alpari
3.MRC markets
4.Nordfx
5.Fxcentral
6.Forex control

These are the offshore fx companies who have set up shops in India.They are registered with SEBI and NSE for trading in forex derivatives but their main objective is to promote retail spot forex.Fx central is registered as an NBFC with RBI and use the loopholes to trade forex.Alpari is registered with FSA,the regulatory authority in UK,Mrc with international chamber of commerce.Forex4you ,forexcontrol and Nord are new players and are not properly registered..If any body can supplement,kindly add to my list

 

[vickym]

Alpari is almost shutting shops in India. 2 months back there was news that there license with Russian bank was not renewed and that they are now licensed with the St Vincent banks. Few days back Alpari's Mumbai shop was raided and closed; their Delhi operations are also in shambles now. I have been trading with Alpari for 4 yrs and am now looking to move my funds from Alpari to some reputed broker where at least my funds are safe. The short list currently is FXCM, IC Markets, FXPro, Dukascopy and Swissquote.

It will be helpful to hear back from other people who are actively trading spot fx from India and must be facing the same issues

 

[Hulu Girl]

Do any reputed broker for Forex in India? All brokers is having limitation of currencies.

 

[Fistig]

I always advise new traders to research well before choosing a broker. Broker is the backbone of every trader and you must have a strong backbone for lifting huge load as a trader. The credibility of the broker can never be compromised at any stage of your trading career.

 

[Yadeyo]

I would certainly agree that choosing the right broker can be great support to execution of your trading strategy. Choose broker which is reliable and have supporting customer service. Also, it is nice whey they offer low trading spreads

 

[stoch]

What about Hotforex? Anybody tried this broker, though I'm not sure they have office in India...