Best Forex Brokers 2023

Who is the biggest forex broker in the world?

It is hard to answer that question as there are a lot of big and successful forex brokers in the whole world. Later on, we will review the best top 10 forex broker in world. But for now, let's talk in short about undoubtedly a couple of the best forex brokers in the world.

The first one will be Forex.com - an amazing forex broker, where you will find more than 80 currency pairs. It has a $100 minimum deposit and low commissions. It provides its customers with strong security systems. A variety of educational tools and an impressive list of indicators wait for you here to start your trading experience.

And another best forex broker will be IG. It also has up to 80 currency pairs, though a minimum deposit here is $250. IG supports not only its own trading platform but also other forex platforms such as MetaTrader 4 and ProRealTime.

However, remember that there are a lot of incredibly good forex brokers, which makes choosing the best a hard task. Now we will review the top forex broker in India throughout recent years.

What are the top 10 forex brokers?

Before we start, keep in mind that it is not a full list of the best forex broker in India. It would be simply impossible to highlight all of them in one article, only in a book. That being said, join us in this expedition into the world of brokers.

Let's begin with the overall best forex broker in India in 2023 - IG. This broker provides you with an astounding web-based platform and mobile apps where you can trade with comfort. They have a demo account available for you, where you can practice trading skills in a low-risk environment. With their expert support, you are sure to get into trading quickly and easily. IG forex broker is easily the world's No.1 CFD provider among all others. Creating an account is instantaneous so that you can start trading right away.

Next, Forex.com is another top forex broker India. With this broker, you can trade whenever you want, 24 hours a day. Low initial deposit adds to the easy access trading platforms that are designed to give maximum trading experience. You’ll benefit from Complex trading features, professional charting tools, and many other incredible possibilities await you.

Particularly interested in investment? Interactive Brokers is the best online forex broker for you. With its decades of experience, it will deliver to you the utmost trading performance. Their low commissions and financing rates will help to avoid unnecessary costs and increase your returns. With their up-to-date security systems, your funds are in safe hands.

FBS forex broker is a good choice for beginners. With their special cent account, where risks are incredibly low, you will be able to learn the most about trading without losing too much. On the world market, they have the highest leverage of 1:3000. They have another great advantage - a wide range of accepted payment methods among which you will find the most comfortable for you. Thanks to this low spread forex broker, starting with 1 pip you will gain the maximum profit with your cent account, as well as with any other account type, they provide.

With an XM, the best forex broker in India 2015, you will get a lot of benefits. They offer you a welcome bonus of 100% up to $5000, which is an amazing start, which is topped with zero commission for deposits and withdrawals, as well as with astonishing payment methods cover. You can trade within 55 currency pairs, and if you want to try out the whole thing, they got you covered - a demo account will help you to gain a deeper understanding. Moreover, XM was awarded as the best ECN forex broker for beginners in 2020.

OctaFX is the best forex trading broker for Indian traders. With the help of the tools they provide, you are bound to be making the most profitable and efficient decisions. This MT4 forex broker based in India, with its constantly improving tools, security systems, and other features, will bring your trading experience to another level.

If you are looking for a fast and profitable top forex broker, IC Markets is just what you need. They emphasize their efficiency with spreads starting from 0.0 pip and a speed of order execution - each takes around 40 ms! The best forex broker in India 2017 - IC Markets - provides you with a low minimum deposit of $200 to start trading with most of their accounts, and a commission of $7 standard lot.

Best forex broker UK and around the world, FXTM has something fascinating to offer you. Apart from traditional trading of currency pairs, CFDs, stocks, cryptocurrencies, etc., here we have negative balance protection, impressive leverage up to 1:2000, and a wide choice of minimum deposit accounts, from $100 to $200.

So, here we are, almost at the end of our top 10 forex broker in India. And here we have iForex - a versatile forex broker, where you will be able to trade CFDs in currencies, crypto, indices, ETFs assets, and many more. With real-time charts and more than 900 tradable instruments, you will not miss a thing. This Indian forex broker has educational materials available in 16 languages. Just with a minimum deposit of $100, you can begin trading and making money!

And so, at the end of our forex broker list, we have the best forex broker in Chennai - IQ Option. It provides comfortable withdrawal options, powerful and user-friendly features, with amazing clients' reviews. The best forex broker in India 2019 has an astounding customizable interface and it is unbelievably simple to start trading here, especially with a $10000 demo account, $10 minimum deposit, and a $1 minimum investment.

Some of these are the best forex broker for beginners, with a low minimum deposit and various educational tools. While others are good for professionals who deal with higher stakes. Anyway, it is far from the complete forex broker list, and Indian traders can find a lot more amazing forex brokers throughout the internet.

Which forex broker charges the lowest fees?

If you are in search of the lowest spread forex broker - we got you covered. Some of such brokers were mentioned before. 

For example, FXTM commissions are as low as $2 on ECN accounts, with spreads being 1.5 pips. They provide 50 currency pairs and more than 250 tradable units.

On the other hand, XM charges no commissions at all, and spreads are lucrative 0 pips. Other distinctive features are available auto trading, over a thousand trading tools, and intuitive platforms, which are supported on mobile devices.

And these are only what we have mentioned before. In the modern world of the internet, trading has become very competitive, as everyone now can start trading. Accessibility made it harder for brokers to draw people's attention. That made the best forex broker online provide much more appealing offers and lower cost of commissions and spreads. You can find a large number of forex brokers with very low or even absent fees, but before you dive into any of them, read all information the broker of your choice provides on conditions and terms of trading on their platform.

Which forex broker has the best platform?

Forex broker comparison from the platform perspective is another complicated question. All legal brokers work with the best trading platforms. Let's review the best platforms so that you know what to search for.

MetaTrader 4 (MT4) is one of the most popular retail platforms in the world. Around 55% of all traders used this platform in 2018. Among the most significant features, it has one-click trading, over 50 indicators, multi charting, and more.

Next, we have MetaTrader 5, which was released mostly to allow share CFD trading as well as widen a CFDs range. Here developers improved previous features and added some new ones, like netting and hedging mode options, depth of Market function, and partial order filling policies.

The third most popular platform is cTrader. Some of the best forex broker in the world use this platform to conduct trade, but there are some disadvantages in cTrader. Because it is not as popular as MT4 or MT5, the client base of cTrader is relatively smaller. Also, cTrader servers are located in the UK which can pose some access issues.

With 19 years of experience, ProRealTime has several strengths to offer, like incredible technical analysis functionality with more than 100 indicators, unlimited timeframes, and a huge number of charts. However, ProRealTime is not suited for mobile trading, so you won't be able to access it with your mobile device.

To be honest, there are even more interesting and incredible retail platforms to talk about, but they all have key features that distinguish them from the others. If you are interested in starting your trading career, you need to explore this aspect of online trading very well, to find the best broker for forex trading in India.

Which forex broker offers the most CFDs?

After we talked about the best forex broker in world in general, and about platforms they may use, now we will discuss them in detail. We are going to review forex brokers from different aspects.

The first aspect will be CFDs, and here are some best CFD trading brokers. FXTM may be considered one of the best among them. It offers Cryptocurrencies, Forex, CFDs, CFDs on Bitcoin, CFDs on Spot metals, as well as standard and ECN accounts. 

The best forex broker in India 2018 - Vantage FX also has some surprises for you. They provide access to over 300 currencies, Share CFDs, Indices, Commodities, etc. They use platforms like MT4, MT5, and Custom App platforms on Standard STP.

Which forex broker offers the most currency pairs?

In the aspect of currency pairs number, Saxo Bank is undoubtedly one of the best online forex trading broker. In total, here you will find more than 170 currency pairs available, which is an astounding number. Somewhere close to it is CMC Markets - another incredible broker with 158 currency pairs. As to others, such as previously mentioned brokers, like IG or Interactive Brokers, have a lot fewer currency pairs, 104 and 105 respectively. On average, we have around 100 currency pairs. So, if you are interested in the best forex trading broker in India in the aspect of currency pairs, consider Saxo Bank or CMC Markets - they will be the best for you.

Which forex broker has the best customer service?

Of course, not all of us are natural-born traders, and some people will have problems and different issues coming up along the way of becoming a master of online forex trading broker. To solve the problems of customers and provide the utmost trading experience exists customer service. That is why the best forex broker with no deposit bonus needs to have amazing customer service. For example, apart from the most currency pairs, Saxo Bank also has one the best and the most reliable customer services on the market. On one level with Saxo Bank is XTB forex broker. This zero spread forex broker provides its clients with outstanding customer service, which was awarded for #1 Phone Support in 2020 in the UK.

Which forex broker is best for professionals?

Among all both mentioned and not mentioned brokers, the most trusted forex broker for professionals can be considered Interactive Brokers. They provide amazing terms of trading as well as a large number of order types and the lowest margin rates among other Indian broker forex trading retailers. With a $0 minimum deposit, $0,65 options per contract, and a TWS desktop platform designed specifically for professionals, it is an incredible piece of trading art. The only con here is that beginners will not be as efficient on this platform as experts. According to multiple forex broker reviews, Interactive Brokers are an incredible choice for traders with some experience, but even if you are new to the industry, you can learn to trade with another swap free forex broker and enter Interactive Brokers with some knowledge, and doing so you will be successful as ever.

How do I choose a forex broker?

After we talked so much about different forex brokers, we didn't answer the question "How to become forex broker in India?" yet. To start trading you need to choose a forex broker among all their variety. So, how do you do that? What do you need to consider before joining one of them? Here, we will tell you what to look out for and which things are the most important when choosing a trusted forex broker.

At first, you of course need to check whether a broker is legal. Regulatory compliance is an important parameter that distinguishes legitimate brokers from scam brokers. For example, back in 2015, there was a WVC forex broker that turned out to be a scam. To avoid fraudulent brokers, always check their regulatory institutions.

The next step would be checking for various account features, such as commissions, spreads, margin, leverage, minimum deposit, etc. Forex brokers offer various account types with different terms and conditions which may benefit you in one way but disadvantage you in another. Search for accounts that suit you the most.

A low spread forex broker in India means currency trading. Thus, the more currency pairs a broker provides, the better your trading will turn out. Explore this parameter when you choose a broker.

Last but not least - customer service and platforms a broker provides. It is a great sign if a 0 spread forex broker cares about its clients and makes everything to meet their needs. And obviously, forex brokers should support the best trading platforms to stay competitive and live up to the name of the best forex broker.

How do I know if my forex broker is regulated?

It is very simple to check legal forex broker in India. AT first, it must be a SEBI and RBI approved forex broker in India. They are both regulatory institutions that control forex brokers all over India. The only rule in forex broker trading in India is that the currency pair you are trading must contain Indian National Rupee (INR), otherwise, it is considered illegal. If a no deposit bonus forex broker you are currently considering is regulated by SEBI and approved by RBI - you are safe to start trading using it.

What's the difference between a dealing-desk and an agency broker?

Now that we went through all this, let's discuss another important issue in the forex introducing broker industry - the difference between dealing desk broker and agency broker.

A dealing desk broker (market maker) is a person that takes trades from his clients without trading in the market. They offer a quote based on the market price and occupy the other side of the client’s trade.

They may compensate their exposures with other clients’ opposing trades that are kept ‘in-house’, which is also known as running a ‘B book’.

An agency broker is a broker that has a formal responsibility to act in the interest of his clients. Agency brokers do not hold inventory of the securities they buy and sell. Instead, they perform transactions on behalf of their clients.

Now you know the difference between them and are almost ready to begin a trading career with the best forex broker with deposit bonus.

How do I calculate forex trading costs?

Forex trading cost is a price you pay to a broker. Trading costs include commissions, spreads, and slippage that every broker has, even in our lowest spread forex broker comparison each broker has it. Various formulas help you calculate your trading costs at a bitcoin forex broker, as there are different variables that affect the outcome, like various accounts with different terms and conditions that influence your trading experience. You can easily find these formulas on the internet, and after you explore this area of an instant withdrawal forex broker - you are ready to start trading and become a real broker.