In the recent past, Forex and Fixed Time trading have gained a lot of popularity across the world. India has particularly shown persistence and consistency in the growth of fixed time trading.
Due to that fact, so many FTT brokers have cropped up in the Indian market.
These new brokers that crop up are a blend of both genuine, unregulated, and dishonest scammers that put most aspiring traders in India at risk of deception and losing money.
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Owing to the facts stated above, we have created this post to separate the chaff from real wheat for you. This we do by showing you the top 10 Best Broker Platforms for India. This will save you a whole lot of money loss to scammers and fake brokers.
Excited about this?
You really must be. For that matter, you have every reason to read the whole post to the end to find out who these 10 best broker platforms in India are, noting what makes them best.
The ultimate list of the 10 best Broker platforms for India;
Olymp Trade is a Forex and Fixed time trades broker located in Saint Vincent and the Grenadines. The broker was founded, established, and launched in the year 2014.
Olymp Trade boasts of a total of over 20,000 traders daily.
This translates to Olymp Trade’s monthly payouts of over $13,681,000 and more than 37,990,700 closed trades monthly.
This makes Olymp Trade one of the most established brokers if these figures are to go by.
And just to set the record straight, Olymp Trade is not only in India. It operates globally except in countries like the USA, Canada, Japan, Israel, Australia, and a few others.
More About Olymp Trade
Olymp Trade offers clients a free Demo Account where they can practice trading without risking real capital.
This Demo account is loaded with $10,000 virtual money which you can replenish any time it is depleted. You can then use the demo account to practice trading under real market conditions.
In addition to a Demo account, Olymp Trade offers two types of real accounts – Standard and VIP accounts.
A standard account requires only $10 to open while a VIP account can be opened with $2,000.
The Standard account is a micro account and gives an opportunity for traders who want to start small while the VIP account offers benefits like risk-free trades, higher returns and secret trading strategies.
Olymp Trade offers over 36 currency pairs, over 10 Cryptocurrencies against USD, over 2 Cryptocurrency pairs, over 10 Stock indices, over 6 Commodities and over 13 Shares of the largest companies.
These can be traded to yield returns ranging between 82% and 100% with a minimum investment of $1 per trade.
Is Olymp Trade Legal in India?
Olymp Trade is licensed and regulated by Cyprus Securities and Exchange Commission (CySEC) together with Financial Commission (FinaCom).
These ensure traders’ money is safe and that traders’ rights are safeguarded.
Olymp Trade Payment Methods for India.
- Cryptocurrencies (e.g. Bitcoin)
Deposits and Withdrawals are processed fast depending on your method of payment.
Bank cards and e-wallets are faster.
VIP accounts are given priority in withdrawals as they take 24 hour to 5 business days for a standard account.
The minimum deposit and withdrawal amount is $10 and no fees are charged.
MetaTrader 4 is also supported for forex traders. All those platforms offer convenience and ease of access to the platform.
- Parabolic SAR.
- Bollinger bands.
- Bulls Power.
- Bears Power.
- Williams %R.
- Ichimoku Cloud.
- Rate Of Change.
- Awesome Oscillator.
- Detrended Price Oscillator.
- Average Directional Index.
Expert Option is an options platform that has its offices in Saint Vincent and Grenadines. It was founded, established and launched in 2014.
The Expert Option platform has attracted and accumulated over 11 million traders worldwide so far. This has seen Expert Option handle over $30 million worth of transactions each month.
Just to set the record straight though, Expert Option is not only in Asia. It is also in most regions of the world like Latin America, Eastern Europe, the Middle East and Africa.
Note: Expert Option is not available to residents of North America, Australia, New Zealand and other few regions.
Expert Option offers a $10,000 free Demo account. You can always refill these funds once your demo account is depleted. The Demo account allows you to train trading forex under real market conditions without risking real money.
Expert Option offers 6 different real account types. These include Micro, Basic, Silver, Gold, Platinum, and Exclusive accounts. Their minimum requirements are as follows;
- Micro: $10
- Basic: $50
- Silver: $500
- Gold: $2,500
- Platinum: $5,000
- Exclusive: Entered by invitations only.
Each account type has benefits attached which are as follows;
- Basic: You can invest a maximum of $25 per trade and have a maximum of 10 open trades at a time.
- Silver: Maximum of $250 per trade, maximum of 15 open trades at once, personal account manager, daily market reviews, and financial research.
- Gold: Silver advantages plus max. of $1,000 per trade, 30 open trades at once, priority withdrawals, and up to 2% extra on profitable trades.
- Platinum: Gold advantages plus a max of $2,000 per trade, unlimited number of open trades, and up to 4% extra on profitable trades.
- Exclusive: Platinum advantages plus max. of $5,000 per trade, access to strategies, and up to 6% extra on profitable trades.
You can trade Currencies, Cryptocurrencies, Commodities, Indices, and Stocks with Expert Options to earn returns between 70% and 90% with only a minimum of $1 per trade.
Is Expert Option Legal in India?
Expert Option is licensed and regulated by Financial Markets Relations Regulation Center (FMRRC) in Russia.
In addition, the Expert Option platform is regulated by the Vanuatu Financial Service Commission (VFSC). These regulators ensure that brokers’ activities are in sync with financial laws.
Expert Option offers a range of payment methods for clients to choose from. It accepts the following payment methods;
- VISA, MasterCard.
- VISA, MasterCard, Maestro.
- Perfect Money.
- Yandex Money.
Deposits and Withdrawals are handled fast, with e-wallets and bank cards given priority for deposits and high-profile accounts for withdrawals.
The minimum deposit and withdrawal amount is $10 and no fees are charged for those services.
IQ Option is a Cyprus-based trading platform that was launched in 2013.
It has since grown fast and has a record of over 25 million users worldwide so far. That translates to a trading volume which exceeds $360 million monthly.
Most IQ Option traders come from Latin America, Eastern Europe, South East Asia, and North Africa and not only in India.
However, IQ Option is not available in some countries like the USA, Canada, Japan, Israel, and others which are very few.
The IQ Option platform offers a $10,000 free Demo account. You can always refill these funds once your demo account is depleted. The Demo account allows you to train trading forex under real market conditions without risking real money.
IQ Options offers 2 types of real accounts – Standard and VIP accounts.
You require only $10 to open a Standard account and either $1,900 or a trading volume of $15,000 within a period of 3 months to open a VIP account.
The Standard account is suitable for micro beginners while the VIP account offers benefits like higher returns, priority withdrawals, and free tournament participation.
Iq Option Features.
- Available on all devices
- Demo Account Available
- Trading Signals Available
Over 74 Forex pairs, over 26 Cryptocurrencies, over 25 ETF’s, over 5 Commodities, over 53 Options, and over 187 CFDs.
These assets can guarantee returns between 65% and 95% with only a minimum of $1 per trade.
IQ Option is licensed and regulated by Cyprus Securities and Exchange Commission (CySEC). This is the most popular regulator of financial services and your money is therefore safe.
IQ Option supports multiple payment methods giving Indian clients a wide range of options to choose from. The payment methods include;
- Mobile Money
- Bank Transfer.
- WebMoney WME.
- WebMoney WMZ.
Deposits and Withdrawals are processed fast depending on your method of payment – bank cards and e-wallets are faster.
VIP accounts are given priority in withdrawals. The minimum deposit and withdrawal amount is $10 and no fees are charged for transactions.
It thus gives each trader an opportunity to choose whichever platform suits them best.
IQ Option offers users a user-friendly interface with a wide range of technical indicators for more accurate predictions.
Binomo is a simple trading platform located in Saint Vincent and Grenadines. It was founded, established, and launched in the year 2013, growing into one of the most popular brokers in Asia.
The Binomon platform claims to have over 887,470 daily active traders. This translates to over 30 million successful trades per week.
The Binomo trading platform is not only in India, but in tens of other countries except the USA, Israel, Canada, Japan, Australia, Turkey, Belgium, New Zealand, France, and Latvia.
Start trading with a $1000 virtual cash Demo account at Binomo. This account type allows beginners to start forex trading by practicing on real market conditions without risking real money.
Binomo offers 3 types of accounts – Standard, Gold, and VIP accounts.
You only require $10 to open a Standard account, $500 for a Gold account, and $1,000 to open a VIP account.
The Standard account is suitable for micro traders while Gold and VIP accounts confer a variety of benefits – access to more assets, personal account manager, and a weekly cashback of 5%-10%, a fixed profit of 86%, higher bonuses, priority withdrawal, and free education from professional traders.
Commodities, Stocks, Currency pairs, Cryptocurrencies, and Indices can be traded on Binomo to yield returns between 70% and 90% with only a minimum of $1 per trade.
- Minimum deposit KS 500
- Trade with KS 100
- Mpesa, Equitel & Airtel Money Accepted.
Is Binomo legal in India?
Binomo is licensed and regulated by the Financial Commission (FinaCom).
This is an independent organization that guarantees trader rights protection.
Binomo is also certified by the Center for Regulation of Financial Market Relations (CROFR) – this means that Binomo will not scam you or try to engage in financial market malpractice.
Binomo Payment Methods for India.
- WebMoney WMZ.
- Perfect Money.
Deposits and withdrawals can take minutes to 3 business days depending on your method of payment and account type. The minimum deposit and withdrawal amount is $10.
Binomo will deduct a 10% fee on your withdrawal amount if you withdraw without trading a volume equivalent to at least double your deposit.
This means that if your initial deposit was $10, you will only be able to withdraw free of charge if the total balance on your account is $20. If you attempt to withdraw when your balance is less, you will pay 10% of the amount you are withdrawing.
You can access Binomo via the web browser and via mobile apps.
Deriv is a trading platform with its head office in Malta, at Mompalao Building, Suite 2, Tower Road, Msida MSD 1825.
It is one of the oldest international online trading platforms founded in the year 1999. It was previously known as binary.com until early this year (2020) when it rebranded.
Deriv now boasts of an audience of over 300,000 clients worldwide and is not only limited to India.
It is also available in Europe, Malaysia, Japan and beyond. It is, however, not available to countries like the USA, Canada, Hong Kong, and others.
You can begin trading by using the Deriv.com Demo account which offers free virtual money. This account allows you to train forex trading under real market conditions without risking real money.
However, if you want to go live, once you have opened an account, you can use the SmartTrader trading platform. From the SmartTrader, you can then open MT5 accounts. The minimum deposit for deriv.com is $5.
A pool of 114 different assets including currency pairs, Indices, Stocks, and Commodities can be traded to yield up to 100% returns with a minimum of only $1 per trade.
Deriv.com is licensed by 4 different regulators and can, therefore, be trusted;
These regulators include:
- Malta Financial Services Authority (MFSA) – for operations in Europe.
- Vanuatu Financial Services Commission (VFSC) – for operations beyond Europe.
- British Virgin Islands Financial Services Commission (BVIFSC) – for operations beyond Europe.
- Labuan Financial Services Authority (LFSA) – in Malaysia.
Deriv accepts and supports a variety of payment methods, including: –
- Mobile Money
- Perfect Money.
- Yandex Money.
Deposits are ideally processed instantly but can take up to 1 working day depending on the method.
Debit/Credit cards and E-wallets are faster. The minimum deposit amount is $5 while the maximum is $10,000.
Withdrawals may take up to 1 working day to be processed. The minimum withdrawal amount in binary.com is $10 while the maximum is $10,000. No fees are charged on withdrawals on this platform.
The deriv.com platform can be accessed via Desktop and Mobile platforms, SmartTrader, Binary Tick Trade App, Meta Trader 5, Binary WebTrader, Binary Next-Gen, and Binary Bot.
24option is a Cyprus-based broker that was founded, established, and launched in the year 2010. The broker has a large community of traders making it a popular broker that handles some good trading volume.
The 24option platform offers a free Demo account after the first deposit.
This demo account is limited in time and can be opened by contacting the customer service via a live chat – simply put, the demo account can only be availed on request.
It is loaded with $5,000 virtual money which you can use to practice trading options under real market conditions without risking your real capital.
24option seems not to have a versatile system of real account types other than elevation of account status depending on trading volume.
An elevated account status comes with better trading conditions.
The minimum deposit to open an account with 24option depends on the method you use to deposit, which is $1,000 for deposits made via bank transfer.
Once your trading volume hits various levels, your account status will be elevated as follows;
- 5000 Euros – Silver account status.
- 10,000 Euros – Gold account status.
53 different assets are offered on 24option, including commodities, currency pairs, shares, and indices.
These can be traded on a one-touch, boundary, or 60-second basis to yield up to 89% with a minimum of 24 Euros per trade. Lost trades are refunded with up to 15% which is a good thing.
24option offers trade durations ranging from 60 seconds to several days.
You can choose as a trader which trade duration you prefer, but most options trading users will go for the 60-second option.
Is 24 Option Legal in India?
The 24option broker is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) in the European Union.
This makes the broker a safe investment platform because it is under the strict regulation of the most popular financial service regulator.
24option deposits and withdrawals can be done via;
- VISA/ Mastercard.
- Bank Transfer – A minimum of $1,000 to be deposited by this method.
- Electronic payment like Skrill.
Deposits and Withdrawals are processed fast. The minimum withdrawal amount is 250 Euros.
The first payment of the month is free and the subsequent withdrawals are charged a fee of $30 regardless of the payment method used.
For 24option’s accessibility, no installations are needed because all applications are web-based. However, those who love mobile Apps for Android and IOS are well suited to use the 24option mobile App.
24 Option Bonuses
The 24option broker has awesome bonuses for new clients.
20% bonus up to 499 Euros deposit, 30% up to 999 Euros deposit, 40% up to 2,499 Euros, and 60% beyond 2,500.
100% bonuses are also possible for deposits beyond 10,000 Euros.
To receive the bonus, you have to trade the bonus amount 50 times.
BDSwiss India Platform
BDSwiss is a Cyprus-based brokerage firm.
It was previously called Bank De Swiss and was established and launched in the year 2011. The broker claims to have over 500,000 registered accounts worldwide which means that they handle a significant trading volume.
The BDSwiss platform has a majority of its clients from Europe hence referred to as Eurocentric, in addition to a wide operation in India.
It also has coverage over other regions and countries -worldwide.
BDSwiss offers investors a free demo account with free demo funds.
The BDSwiss demo account is unlimited and gives access to all assets under real market conditions to practice trading without risking real money.
BDSwiss free demo funds cannot be recharged once depleted.
The broker doesn’t seem to have a system of different real account types.
To open an account with BDSwiss broker, you need a minimum of 100 Euros. While trading, BDSwiss does not allow the real account to fall below zero.
BDSwiss offers over 170 assets including stocks, indices, commodities, and forex which can be traded over 30 seconds to the 10-month duration. Trading yields up to 89% with only a minimum of $5 per trade.
Is BDSwiss Legal in India?
BDSwiss is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).
This ensures that traders’ money is held in separate accounts from that of the broker and also insured in case of eventualities. Your money is therefore safe.
The broker supports a variety of payment methods like;
- VISA/ Mastercard.
- Bank transfers.
- Western Union.
Deposits can take 2 to 7 days to reflect while Withdrawals are processed within minutes to a week depending on the payment method used.
The minimum deposit amount is 100 Euros while there is no minimum withdrawal amount.
However, to withdraw less than 100 Euros, a processing fee of 25 Euros is charged.
Withdrawals are made to the same method used to deposit funds into your BDSwiss account and have a processing fee of 25 Euros if made via bank wire transfers.
BDSwiss provided a Web-based platform with no downloads and installations because everything can securely be done on the web.
In addition, BDSwiss has introduced mobile apps for Android and IOS devices increasing the freedom of choice on the platform.
GTOptions is a Cyprus-based broker that has been in operation since 2011 when it was founded, established, and launched. It has since then grown into a reputable broker accepting USA traders.
Once you open a regular account, you contact customer service and request that your account status be changed to a demo account if you need to train on a demo account first.
The Demo account is time-limited to two weeks of risk-free practice with virtual money under real market conditions.
Other than a demo account, GTOptions offers 4 real account types – Mini, Classic, Gold, and VIP accounts.
You can open an account you prefer with the knowledge that a regular account will require a minimum of $250.
The VIP account offers free trading signals, one on one training via webinars, and other privileges.
GTOptions has a wide variety of assets to offer, which include currencies, commodities, stocks, and indices.
They can be traded on Up/down, One-touch, Option builder, and 60-second Options bases.
The minimum investment per trade on the 60-second basis is $5 and in all the trading bases, you can earn returns averaging to 81% – the maximum payout can even exceed this and be up to 500%.
Is GTOption Legal in India?
GTOptions is not regulated.
However, non-regulation does not automatically mean that they are a scam.
They have been around not for so long and maybe they are in the process of acquiring regulation sooner or later.
A few complaints here and there are the only problems so far but that it. Do your due diligence before indulging with unregulated brokers.
Deposits and Withdrawals can be made via a variety of methods;
- VISA/ Mastercard.
- Bank wire transfers.
- Western Union.
The minimum deposit amount is $250 while there is no minimum withdrawal limit. Deposits and Withdrawals are free but $25 is charged for bank wire transfers.
GTOptions offers a high-quality trader-friendly Web-based trading platform.
It however does not offer Mobile trading but makes it up for traders by offering several other benefits.
New traders have an opportunity to get 100% bonuses on their first deposit. There is also a special seasonal bonus for regular clients on GTOptions.
HighLow Binary Options broker has its headquarters in Sydney in Australia and was established and launched in the year 2010.
The broker is owned and managed by HighLow Markets Limited and is a popular and leading binary options broker.
The HighLow platform is not only in Asia but also serves Europe, Africa, and Australia. It however does not serve people of the USA due to licensing issues.
HighLow trading offers a Free Demo account to new traders who would like to practice trading risk-free before going live.
Virtual $10,000 is loaded into the Demo account and traders can practice under real market conditions.
Apart from the Demo account, only one real account type is available – a standard account. A minimum deposit of $50 is required to open this account type.
43 different assets are offered by HighLow which includes currencies, commodities, and indices.
These can be traded under 5 different types of options contracts which are High/Low options, High/Low Spreads, Turbo Options, and Turbo Spreads Options.
The difference between normal options and spreads options is that Spreads Options’ expiry is extended to cover a range of prices rather than a single price level.
Turbo options have an expiry of 30 seconds to 5 minutes while High/Low options have a longer expiry time on an intraday basis.
You stand a chance to get returns up to 200% by investing a minimum of $1 per trade. Those are awesome returns tied to a low minimum investment amount per trade.
Is HighLow Legal in India?
HighLow is licensed and regulated by the Australian Securities and Investments Commission (ASIC). ASIC is among the few financial regulatory bodies regarded as strict and professional and therefore clients can trust HighLow with their money.
A variety of payment methods is supported by HighLow giving clients the freedom to choose from;
- VISA/ Mastercard.
- Paysafe Card.
Deposits and Withdrawals take one day. The minimum deposit and withdrawal amount is $50.
HighLow is accessible via Mobile Apps for both Android and IOS. A desktop version for Windows is also available, plus a MetaTrader 4 integration.
Spectre.ai is a broker-less platform where traders trade binary options directly against the financial markets with funds from their digital wallets – blockchain wallets.
That means that traders do not need to deposit any funds with a broker and therefore no need to open an account with any minimum amount of funds. Spectre.ai is located in the Cayman Islands and offers worldwide services.
New Spectre.ai traders are offered a Free Demo account loaded with 100 Etherum tokens so that they can get used to the platform.
In addition, they get to practice trading risk-free under real market conditions.
Spectre.ai offers 2 real account types – Wallet and Regular accounts.
We mentioned that you do not need to open an account but trade directly from your digital wallet – you make a transaction directly between your wallet and the markets. Any profits are sent to your digital wallet and any losses are debited from your digital wallet directly.
All we have described is what a Wallet account is.
If you decide to go with a Regular account though, you’ll be required to send a minimum of $10 to Spectre.ai’s private Etherum Wallet.
The minimum trade size for this is $1 and withdrawals are from the Spectre.ai’s Etherum wallet to your Etherum wallet.
Spectre.ai offers forex pairs and CFDs on commodities, stocks, indices, bonds, and cryptocurrencies.
These will be traded to yield up to 200% with a minimum of $1 for a regular account and $50 for a wallet account.
All the trades performed on Spectre’s trading platform are governed and processed by a set of audited smart contracts.
Every trade entry and outcome is thus regulated by this set of smart contracts creating great transparency.
There may not, therefore, be a need for an external regulator like in the case of other brokers because those are enough to trust Sprectre.ai with your money.
Spectre.ai is an Etherum powered blockchain-linked technology.
It, therefore, means that Deposits and Withdrawals can be made via Etherum Blockchain wallets.
However, they are expanding to open up FIAT currency deposits such as USD equivalent deposits and withdrawals via other payment methods.
Deposits may take up to 24 hours to reflect while Withdrawal is processed instantly.
Spectre.ai was initially only available on the Web browser and Desktop. It has recently launched a Mobile App for android which had been much anticipated. This increases traders’ freedom of choice of the platform they prefer.