FXTRADING.com India Review 2024 - TU expert opinion
Is the Forex market legit in India?
Forex trading is legal in India. Anybody can become a trader. However, there are important nuances to consider. In particular, you can trade in the financial market in India only with a regulated broker. The Securities and Exchange Board of India (SEBI) is the financial regulatory body of the country. Legal brokers offer access to trading currency pairs and Forex options. Under the SEBI rules, the following currency pairs can be traded in India:
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EUR/INR
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GBP/INR
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JPY/INR
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USD/INR
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EUR/USD
Other currency pairs and also CFDs are officially prohibited in India. Therefore, such instruments can be found only at offshore brokers. However, trading with offshore brokers could lead to big issues with the tax authorities.
How to Trade Forex in India
In order to trade on Forex in India, you are not required to obtain some special status. You need to choose a broker, visit its website and register. Verification of trading accounts is mandatory for traders from India. After that, you can fund your account and start trading.
Our Evaluation of FXTRADING.com
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
FXTRADING.com is a moderate-risk broker with the TU Overall Score of 6.47 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by FXTRADING.com clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
FXTRADING.com is a regulated Forex broker that provides access to trading CFDs on stocks, indices, metals and cryptocurrencies with leverage. The broker offers Metatrader, the most popular trading platform among traders, awards bonuses, streams news and Forex market analysis.
Analysis of the Main Features of FXTRADING.com in India
Traders Union analysts analyzed the key features of FXTRADING.com for traders from India. TU uses its own evaluation method, assessing each block separately. Based on the results of the assessment, an overall score is given.
Trading conditions for FXTRADING.com traders from India
It is important to assess trading conditions before you decide to work with a specific company. Traders Union analysts have prepared a comparison of FXTRADING.com trading conditions for traders from India. The experts analyzed minimum deposit, trading platforms, leverage and other important information that could impact a trader's choice of a broker.
💻 Trading platform: |
Desktop MT4, Mobile MT4, Web Trader MT4, MT5
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📊 Accounts: |
Alpha Account, Standard Account
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💰 Account currency: |
AUD, USD, EUR, GBP, SGD, NZD, CAD
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💵 Replenishment / Withdrawal: |
Xpay, PayTrust, Southeast Asia Local Bank Transfer and Spayz
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🚀 Minimum deposit: |
50$
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⚖️ Leverage: |
1:500
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💼 PAMM-accounts: |
Yes
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📈️ Min Order: |
0.01
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💱 Spread: |
Raw Spreads
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🔧 Instruments: |
Forex Currency Pairs, Commodities, CFDs on Indices, Spot Metals, Share CFDs, Energies, Crypto CFDs
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💹 Margin Call / Stop Out: |
100%/50%
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🏛 Liquidity provider: |
No
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📱 Mobile trading: |
Mobile Platforms
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➕ Affiliate program: |
Yes
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📋 Orders execution: |
Market execution
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⭐ Trading features: |
Web Trader; Crypto CFDs; Customer support 24/5.
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🎁 Contests and bonuses: |
Yes
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FXTRADING.com Commissions and Fees
Traders Union analysts analyzed commissions and fees charged by FXTRADING.com for traders from India. Within the framework of the analysis, all types of trading and non-trading fees traders are charged with were evaluated.
The broker compensates for non-trading fees on deposits and withdrawals. As a fee for performance of transactions with financial instruments, FXTRADING.com charges spread (Standard accounts) or spread + commission per lot (Pro accounts).
Account type | Spread (minimum value) | Withdrawal commission |
Standard | $10 | No |
Pro | $3.5 | No |
FAQs
Is FXTRADING.com legal in India?
Yes. FXTRADING.com operates legally in India. The broker holds the necessary licenses.
Can you learn trading with FXTRADING.com? Does the broker offer courses for traders from India?
Yes, FXTRADING.com offers good trading courses and a lot of educational information for clients from India.
Can FXTRADING.com be trusted? Has the broker been operating in India long?
FXTRADING.com has been operating in India quite long and has a good reputation. Therefore, traders can work with FXTRADING.com.
Is FXTRADING.com suitable for novice traders from India?
Yes. FXTRADING.com offers optimal trading conditions and good education for beginners from India.
How efficient is FXTRADING.com customer support in India?
FXTRADING.com offers a sufficient number of ways to contact customer support in India, and also provides support in the state language.
Has FXTRADING.com had any incidents involving theft of funds of clients from India?
No. FXTRADING.com provides reliable security of funds of clients from India.
Will I be able to file a lawsuit in India if FXTRADING.com violates my rights?
Yes. If FXTRADING.com violates your rights, you can file a complaint with the regulator of India, and then with a court.
Can FXTRADING.com clients from India use the broker’s mobile app?
Yes. The mobile app of FXTRADING.com is available for the clients from India.
Does FXTRADING.com provide India market analysis?
Analysis of India is featured in the information provided by FXTRADING.com.
How can I withdraw funds from my account at FXTRADING.com in India?
FXTRADING.com supports bank transfers and debit/credit cards of the banks operating in India.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.