In India, Forex trading is regulated by the Securities and Exchange Board of India (SEBI), and currency derivatives are traded on exchanges like the National Stock Exchange (NSE), Bombay Stock Exchange (BSE), and MCX-SX.

Forex trading in India is generally limited to trading currency futures and options, which are available through recognized brokers and trading companies. Below is a list of top Forex trading companies in India, all of which are SEBI-registered, ensuring they operate within the regulatory framework for safe and secure trading.

1. Zerodha

• Regulation: SEBI, NSE, BSE, MCX-SX.
• Leverage: Up to 1:50 for currency futures.
• Platform: Kite (proprietary platform), TradingView integration.
• Features:
  • Low brokerage fees and transparent pricing.
  • User-friendly platform with advanced charting tools and real-time data.
  • Zero minimum deposit requirement for trading.
• Why it's good for Forex traders: Zerodha is India’s largest discount broker, offering access to currency derivatives with competitive pricing and advanced tools. Its platform is ideal for traders looking for a low-cost, efficient solution.

2. Upstox

• Regulation: SEBI, NSE, BSE, MCX-SX.
• Leverage: Up to 1:50 for currency futures.
• Platform: Upstox Pro (web, desktop, and mobile app).
• Features:
  • Low brokerage with zero account opening charges.
  • Advanced charting tools and real-time market data.
  • Customizable interface for an enhanced trading experience.
• Why it's good for Forex traders: Upstox is a discount broker that offers low-cost trading with user-friendly interfaces and advanced trading features. It’s great for beginners and active traders who want a cost-effective solution.

3. Angel One (Angel Broking)

• Regulation: SEBI, NSE, BSE, MCX-SX.
• Leverage: Up to 1:50 for currency futures.
• Platform: Angel One app, Angel Broking Terminal.
• Features:
  • Comprehensive research tools, market analysis, and advisory services.
  • Low brokerage fees.
  • Mobile-friendly and advanced charting for in-depth analysis.
• Why it's good for Forex traders: Angel One provides a full-service trading solution, with strong research tools and personalized advice, making it ideal for traders who need more support and market insight.

4. ICICI Direct

• Regulation: SEBI, NSE, BSE, MCX-SX.
• Leverage: Up to 1:50 for currency futures.
• Platform: ICICI Direct trading platform, ICICI Direct Mobile app.
• Features:
  • Comprehensive research reports and market analysis tools.
  • Premium trading features for advanced traders.
  • Strong customer support and easy account management.
• Why it's good for Forex traders: ICICI Direct is ideal for traders who value research, educational content, and premium services. It’s a great option if you’re looking for a well-regulated, trusted name in Indian finance.

5. HDFC Securities

• Regulation: SEBI, NSE, BSE, MCX-SX.
• Leverage: Up to 1:50 for currency futures.
• Platform: Trade Tiger, HDFC Securities Mobile App.
• Features:
  • Advanced charting tools and real-time data.
  • Comprehensive market analysis and research support.
  • User-friendly interface with quick order execution.
• Why it's good for Forex traders: HDFC Securities is known for its premium services, advanced trading tools, and strong customer support, making it a good option for traders seeking a full-service experience.

6. Fyers

• Regulation: SEBI, NSE, BSE.
• Leverage: Up to 1:50 for currency futures.
• Platform: Fyers One platform, Fyers Markets mobile app.
• Features:
  • Low brokerage with zero account opening charges.
  • Advanced charting and real-time market data.
  • Customizable interface and fast execution.
• Why it's good for Forex traders: Fyers offers a discount broker solution with advanced charting tools, quick execution speeds, and low brokerage costs, ideal for retail traders.

7. Sharekhan

• Regulation: SEBI, NSE, BSE, MCX-SX.
• Leverage: Up to 1:50 for currency futures.
• Platform: Sharekhan Trade Tiger, Sharekhan Mobile App.
• Features:
  • Advanced charting and technical analysis tools.
  • Strong research and market analysis resources.
  • Mobile app for easy on-the-go trading.
• Why it's good for Forex traders: Sharekhan offers a full-service solution with robust research, excellent customer support, and advanced trading tools, making it a good choice for traders who need more analysis and advice.

8. Kotak Securities

• Regulation: SEBI, NSE, BSE, MCX-SX.
• Leverage: Up to 1:50 for currency futures.
• Platform: Kotak Stock Trader, Kotak Mobile Trading app.
• Features:
  • User-friendly platforms with real-time data.
  • Comprehensive research and analysis tools.
  • Secure trading environment with quick execution.
• Why it's good for Forex traders: Kotak Securities offers advanced tools and a secure platform for premium traders. The broker also provides strong research and market insights, making it suitable for those who require additional support.

9. SAS Online

• Regulation: SEBI, NSE, BSE.
• Leverage: Up to 1:50 for currency futures.
• Platform: SAS Online Trading Platform, SAS Mobile App.
• Features:
  • Low brokerage and easy-to-use platform.
  • Real-time market data with fast order execution.
  • Customizable interface for a personalized experience.
• Why it's good for Forex traders: SAS Online offers low-cost trading with simple platform features, making it ideal for beginner traders and those looking for cost-effective solutions.

10. Motilal Oswal

• Regulation: SEBI, NSE, BSE, MCX-SX.
• Leverage: Up to 1:50 for currency futures.
• Platform: MO Investor app, MO Trader platform.
• Features:
  • Comprehensive research and market analysis tools.
  • Advanced charting and real-time data.
  • Strong customer support with personalized advisory.
• Why it's good for Forex traders: Motilal Oswal provides strong research and analysis, making it suitable for traders who require expert insights. The platform also has advanced tools for both beginners and advanced traders.

Conclusion:

The best Forex trading companies in India depend on your trading needs and preferences. Zerodha and Upstox are excellent for cost-conscious traders looking for low brokerage and easy-to-use platforms. For traders seeking advanced research and premium services, brokers like ICICI Direct, Angel One, and HDFC Securities offer comprehensive solutions.