Forex trading is increasingly popular in India. It is a vast financial market with low-margin requirements and high liquidity. Forex means ‘Foreign Exchange Market’ or currency market. We can trade CFD trading on international financial commodities, indices, and shares. Both CFD and forex trading are highly leveraged financial instruments.
CFD trading is the process of buying and selling CFD financial assets. CFD traders should trade on safe and trustable CFD forex broker’s websites. So, the next question is how to find the best CFD forex brokers India. So in this article, I share the best CFD forex brokers in India.
Best CFD Forex Brokers India
What Is A CFD?
CFD stands for Contract for Differences. It is a contract between investors and financial institutions in which investors take a position on the future value of an asset. Financial derivatives allow forex traders to speculate on price movements of the underlying financial assets.
CFD forex broker offers assets including stock, treasury, index, currency pairs, sector, and commodity CFDs like gold, silver, etc. CFD traders should invest their money in a safe, trusted CFD broker platform. So, the next question is how to choose the best CFD forex brokers India. Below is the best CFD forex broker in India in 2022.
FP Markets
FP Markets was founded in 2005, and its headquarters is in Australia. It is an Australian forex CFD broker and accepts clients from more than 93 countries worldwide. It is authorized and regulated by the Cyprus Securities & Exchange Commission (CySEC) – Cyprus and the Australian Securities and Investments Commission (ASIC) – Australia.
It is registered under the Financial Services Authority of Saint Vincent and the Grenadines Limited Company. It offers clients the to trade on more than 10000+ financial CFD instruments, including 63 currency pairs, 55 shares, 14 indices, 8 commodities, 11 cryptocurrencies, and futures/forwards in gold trading. It has over 12K clients worldwide.
It offers MetaTrader 4 and MetaTrader 5 web, desktop, and mobile platforms. Clients can also trade from the IRESS trading platform to access Direct Market Access (DMA) share CFDs. It has two main account types, i.e., the standard account, which is commission free, and the raw account, which is commission-based for MetaTrader users with a lower spread.
Both accounts offer ECN pricing and maximum leverage of 500:1. It offers a good range of fee-free deposit and withdrawal methods such as credit, debit cards, PayPal, Soforrt, Giropay, and bank transfers. But, the payment methods e-wallets like Neteller and Skrill need withdrawal fees of 1%. The minimum deposit is $100. We can trust the deposit process. The processing time of both deposit and withdrawal varies for different payment methods.
It also offers a range of trading guides and educational materials, which includes articles, videos, and live webinars suitable for beginner traders. It also has copy trading feature. Top-tier entities regulate it. So, it is considered safe, genuine, and the most trusted forex trading platform. Overall, it is also one of the best CFD forex brokers India. The rating of FP Markets is 4.3 out of 5.
Features:
- Excellent range of assets.
- Regulated by two top-tier firms.
- No deposit or withdrawal fees for some payment methods.
- It has both commission-free and commission-based.
- Excellent educational and research training app for beginners.
- Available in multiple languages.
- Quick and good customer support service.
Pros
- Over 10000+ tradable CFDs assets.
- Highly authorized and regulated by CySEC & ASIC.
- Minimum deposit – $100.
- Tight spreads.
- ECN pricing & DMA trading are available.
- It offers educational material, trading guides, and live webinars.
- Customer support service – 24/7 – Multiple languages.
- Live chat is available – quick response (10 seconds).
Cons
- High stock CFD asset fees.
- Expensive withdrawals on some payment methods.
- Low investor protection.
- It is registered under St. Vincent & Grenadines entity, not regulated.
- Europe clients have customer support service 24/5 only.
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Top CFD Forex Brokers India
high withdrawal fee when using e-Wallet payment methods (1% commission fee) | ||||
How To Trade CFD Brokers In India
CFD forex brokers are the companies that provide access to a CFD market and provide a forex trading platform to open and close trades. To trade CFDs, traders must open an account with a CFD forex broker. Once traders open an account, they will need to fund it with the minimum deposit required by the CFD forex broker.
After depositing the minimum amount offered by the CFD broker, traders can access any financial CFD assets. CFD trading is high-risk trading. So, traders should know before investing in CFDs. CFD forex brokers have two primary forms – Market Makers and Direct Market Access (DMA).
Online CFD Forex Brokers In India
Below is the list of the top 5 online CFD forex broker companies in India.
- FP Markets
- Capital.com
- XM
- XTB
- Pepperstone
CFD Forex Brokers Company In India
When traders are looking for CFD trading, it’s important to identify CFD forex brokers who are not scammers. In India, there are plenty of CFD forex brokers available. Clients must check forex brokers’ sites are not on the blacklist or forex scam broker’s list.
Is CFD brokers legal in India? CFD forex trading in India is legal and allowed. To identify a legit forex broker, it should be regulated and licensed by some of the firms in the world. In India, there is no adequate regulatory oversight through a licensing system. Some CFD forex broker companies are legal, and some are unlicensed websites.
Indian buyers will need to open accounts with respected offshore brokers. Non-Indian residents can also trade CFDs trading on Indian stocks through offshore brokerages. The CFD assets are not highly regulated.
Conclusion – Best CFD Forex Brokers India
Hopefully, you got a clear overview of the best forex broker for CFD trading in India from the above article. And also discussed the list of the top 3 CFD forex brokers India, how to trade CFD brokers in India, and the list of the top 5 online CFD forex brokers India. CFD trading is high-risk due to low industry regulation, a potential lack of liquidity, and the need to maintain an adequate margin due to leveraged losses.
So, to identify the best CFD forex brokers, they should be well-regulated, have low trading costs, easy-to-manage trading platforms, and provide an excellent education. Because few CFD brokers will fit those criteria, let’s look at the above article to find out the best CFD forex brokers in India.
