Trading in financial markets requires the right choice of a broker, as security of traders’ funds, their profit and opportunities depend on it. Before you start working with a company, it is important to comprehensively assess it. Traders Union analysts have already done it for you. The experts prepared a review of the Best Futures Trading Brokers in India for 2024. Five companies that enjoy huge popularity in India were selected and compared between each other.
1
FxPro - Best in India for 2024
Traders registered with FxPro find the trading conditions of the company some of the most attractive in the Forex Market. First of all, these are narrow spreads and zero commissions for trading stocks.
FxPro broker company has many tools that simplify the technical and fundamental analysis and a variety of charts. You can work with a broker on the MetaTrader 4, MetaTrader 5, Edge, and cTrader trading platforms. It is possible to trade online on various operating systems: Windows, Mac, iOS, Android. TradingView charts were added on FxPro Mobile app, so the app now has advanced charting, indicators, chart tools, and other features.
2
InstaForex - Best in India for 2024
Trading conditions depend on the regulation of the broker:
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FSC. The conditions are more loyal here. With a $1 deposit you can open positions on almost any asset with leverage of up to 1:1000. This broker also offers PAMM accounts and a social trading service. This means that clients invest money in traders and their signals, traders in their turn are successful in trading and earn on fees as well.
Note how the lot volume is being calculated. In the FAQs, you can find information that the broker uses lots of 10,000 basic units instead of standard 100,000 units. This provides for a reduced pip’s value.
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CySEC. The conditions here are stricter due to regulators’ requirements. The minimum deposit is $200 and leverage is up to 1:30 without a confirmed professional trader status. There are managed diversified stock portfolios and synthetic stocks/ETFs instead of PAMM accounts and social trading.
Spreads are from 0 pips subject to the account type and the asset, regardless of the regulator.
3
Admirals - Best in India for 2024
Admirals trading conditions are suitable for any category of traders, regardless of their trading experience. There are 5 account types which differ in platforms, spread/fee, and asset type. Trade and Zero accounts with a minimum deposit of $25/$100/$250, subject to the regulator, are opened on MT4 and MT5 and are intended for trading CFDs on any type of assets. The Invest account with a minimum deposit of $1 is only available on MT5. This account type is intended for trading stocks and ETFs on the stock market.
How to buy/sell on AdmiralsStrict adherence to regulatory requirements is the reason for restrictions on leverage. For retail clients, maximum leverage is 1:20-1:30. Upon confirmation of the “professional trader” status, it increases to 1:500. For the JSC regulated broker, leverage for all traders is up to 1:500. Spreads depend on the account type. On the Trade account on both platforms it is from 0.5 pips, on the Zero account it is from 0 pips with an additional fee per lot of $1.8-$3 for currency pairs and metals. Both account types also have a fixed fee for trading stocks and ETFs.
There are no restrictions on use of strategies and tools: scalping, hedging, algorithmic trading, arbitrage, and carry trade are allowed. Hedging is only prohibited on the Invest account. Also, there is no negative balance protection on the Invest account.
Admirals AI-based analytical research terminal provides traders with advanced tools to enhance their trading experience. It is free for all clients, providing powerful analytical features to inform investment decisions based on news, sentiment, and price movements. The terminal is powered by Acuity's AI technology and seamlessly integrates with the MT4 and MT5 platforms. Key features of this new terminal include:
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Corporate calendar tool that helps stock traders stay ahead of upcoming corporate events.
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Economic calendar to help traders navigate macroeconomic events and market volatility.
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NewsIQ tool that detects trading opportunities by combining news data with other datasets.
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Integration with Dow Jones for financial news and insights.
4
IronFX - Best in India for 2024
IronFX is regulated by multiple reliable bodies, in particular CySEC, FCA, FSCA. IronFX provides clients with the best terms for active trading. The minimum amount for replenishing an account is $100, the leverage is 1:30. IronFX offers demo accounts so traders can test the platform and practice strategies. The Company serves retail and institutional customers from over 180 countries.
5
Pepperstone - Best in India for 2024
Pepperstone is distinguished by favorable trading conditions. The minimum trade volume is 0.01 lots, and spreads start at 0.0 pips. Also, Pepperstone offers over 1,200 different trading instruments where trade orders are executed quite quickly - within 30 ms on average. The ability to auto copy trades is also provided.
TOP 5 Comparison
In order to choose the Best Futures Trading Brokers in India in 2024, TU analysts chose 5 best brokers in this country. In the table below, you can see a basic comparison of these companies. Experts selected only the most reliable brokers that are popular among traders in India.
| FxPro | InstaForex | Admirals | IronFX | Pepperstone | |
|---|---|---|---|---|---|
|
Trading platform |
MT4, Mobile Trading, MT5, cTrader, FxPro Edge |
MT4, MultiTerminal, Mobile Trading, MT5, WebTrader |
MT4, MT5, WebTrader, Mobile platforms |
WebTrader, MetaTrader4 |
MT4, Mobile Trading, WebTrader, cTrader, MT5, TradingView |
|
Min deposit |
$100 |
$1 |
$250 |
$100 |
$1 |
|
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:30 |
From 1:1 |
|
Trust management |
No |
Yes |
No |
No |
No |
|
Accrual of % on the balance |
No |
No |
No |
No |
No |
|
Spread |
From 0 points |
From 0 points |
From 0.5 points |
From 0 points |
From 0 points |
|
Level of margin call / stop out |
25% / 20% |
30% / 10% |
50% / 0% |
40% / 20% |
90% / 20% |
|
Execution of orders |
Market Execution |
Instant Execution |
Exchange execution, Market Execution |
STP, Market Maker, ECN |
Instant Execution |
|
No deposit bonus |
No |
No |
No |
No |
No |
|
Cent accounts |
No |
Yes |
No |
No |
No |
How do I choose a Futures Broker?
Choosing a futures broker is a big decision that can impact your trading success. Here are five crucial tips to guide you through this process:
Check for Regulatory Compliance and Reputation: Make sure the broker has a license from a respected financial oversight body. In the U.S., you'll want a broker registered with the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC). These credentials show that the broker adheres to strict regulations, which adds a layer of security for you.
Assess Execution and Technology: A good broker provides top-notch technology, including real-time quotes and interactive charts. Direct market access is another important feature. Look for a platform that's stable, reliable, and fast, especially if you're trading online.
Examine Margin, Leverage, and Fees: Take a close look at the broker's margin requirements, leverage options, and fee structure. While low margins and high leverage may seem attractive, they come with risks. Ask the broker about their risk management practices to make sure they align with your trading strategy.
Evaluate Market Access and Variety: A versatile broker offers a wide range of markets, such as equities, commodities, and currencies. More market options mean more opportunities for diversification and potential profit.
Consider Customer Support and Education: Good customer service can be a lifesaver, especially if you run into any issues. Look for brokers that offer robust customer support, including a dedicated trade desk and tech support. Don't overlook educational resources like webinars, tutorials, and demo accounts, which are particularly useful for beginners.
Is Futures Trading legal in India 2024?
Yes, futures trading is completely legal in India as of 2024. The Securities and Exchange Board of India (SEBI) oversees this type of trading under the framework of the Securities Contract Regulations. In terms of volume, the derivatives market in India is booming. As of June, a staggering 5.56 billion derivatives contracts were traded. Interestingly, options trading dominates this market, making up 98% of all derivatives transactions.
SEBI isn't just a watchdog; it's also focused on investor protection. To safeguard retail traders, SEBI has mandated that brokers clearly outline the risks involved in derivatives trading on their websites. The regulator is even considering linking the amount of equity derivatives one can trade to their net worth. This move aims to minimize potential losses for retail investors.
For those who aren't residents of India but still wish to participate, good news! Non-Resident Indians (NRIs) can also get in on the action. They can invest in futures and options using Rupee funds held in India. However, this is on a non-repatriation basis and within the limits set by SEBI.
Is Futures Trading taxable in India 2024?
Futures trading is not only legal in India but also taxable. In 2024, the Income Tax Act categorizes earnings from futures and options as business income. It doesn't matter how often you trade or how big your transactions are. You'll need to report this income as business revenue.
When you declare your income from futures and options as business income, bookkeeping and tax audits come into play. So yes, you'll need to keep detailed records. You're also eligible to claim deductions for trading-related expenses. Think along the lines of Demat charges, electricity bills, and any other costs you bear while executing these trades.
Now, let's talk about the thresholds for audits and taxation schemes. If your turnover from futures and options trading goes above INR 10 crore, get ready for an audit. With a turnover under INR 2 crore, you can opt for a presumptive taxation scheme and simply declare that 6% of your total turnover is your taxable income.
Tax liability for futures trading hinges on your absolute profit. It's taxed according to the income tax slab rates. When tax season rolls around, remember to account for both gains and losses from your trading activities. So, keep your books in order, understand the applicable thresholds, and consult a tax advisor to navigate this terrain effectively.
How to start Futures Trading in India?
Here is a step-by-step guide on how to start futures trading in India:
Step 1: Open a Trading Account
First things first - open a trading account to get started in futures trading. Check the background of prospective brokers and their fee structures. Aim for an account that offers low commissions and quick trade executions. This approach not only simplifies transactions but also maximizes your profit potential.
Step individual 2: Master the Basics
Knowledge is power when it comes to trading futures. Get a grasp on the essential principles before diving in. In the trading world, futures and options fall under the category of derivative products. These financial instruments derive their value from an underlying asset, like a commodity. Simply put, they're contracts that let you buy or sell assets in the future at pre-set conditions and prices.
Step 3: Weigh the Risks and Rewards
Futures let you trade equities on a margin, but this perk comes with a catch - the risks are unlimited. Whether you're going long or short, there's always a danger of significant loss. Options, on the other hand, give the buyer the benefit of capped losses - limited to the amount of the premium paid.
Step 4: Add Funds to Your Trading Account
Your next move is to deposit money into your trading account. The required margin amount - a fraction of the contract value - enables you to place bids. Make sure you've got enough funds to meet this requirement.
Step 5: Execute Your First Futures Trade
Now that your account is funded, you're ready to trade. First, form an opinion on where the price of the underlying asset is headed. Then, choose a futures contract that aligns with your view, such as TCS Futures. Determine the price at which you want to enter the trade. Execute the trade using your broker's platform. Keep track of your position and decide when it's time to exit.
TU Expert Review for the best Futures Trading Brokers in India
Financial expert and analyst at Traders Union
Anton joined Traders Union as a financial expert and analyst in 2013. He performs comprehensive internal testing of brokers as a trader. Essentially, Anton “test drives” brokers: he checks the operation of the website and user account, the speed and effectiveness of customer support team, stability of the software, deposit and withdrawal processing times, legal documents of companies and also all additional services (VPS, affiliate programs, contests, bonuses, educational programs, etc.). Based on the results of his “inspections”, he prepares expert conclusions about the operation of brokerage companies in the Forex, stock and binary option markets and also of the cryptocurrency exchanges.
His opinion as for the best Futures Trading Brokers in India is posted below.
FxPro - TU Expert Review
FxPro is one of the brokers that successfully combines marketing policy and technological development. The company has been in the market for more than 17 years and has been able to maximize its technical potential. Average order execution is up to 14-30 ms, while the market average is 100-150 ms. Average spreads for the EUR/USD pair range from 0.3 to 0.8 pips, and expansion at moments of fundamental volatility does not exceed 30-50%. You can check these numbers by installing a script for MT4/MT5. But there are no doubts that they are true. This is largely thanks to such liquidity providers as Barclays, Citibank, and RBS banks, which are FxPro's longtime partners. Trading conditions are ideal for everyone, regardless of experience level. Novice traders can improve their skills on demo accounts, which can be opened for any trading platform (cTrader, MT4/MT5, or FxPro Edge). All platforms, except FxPro Edge, support custom indicators, scripts, and Expert Advisors. There are auxiliary tools in the user account such as market sentiment, which is an indicator displaying the current position volumes and their number in both directions, volatility of currency pairs, analytics and tools of Trading Central, and news feed with streaming information. The number of payment methods is limited, but this is required by regulators. To compensate for this, FxPro guarantees instant processing of withdrawal requests and quick crediting of money. First impressions of the broker are positive, therefore it is rightfully included in the rating of the TU Top best companies. Check it out by opening a free demo account.
InstaForex - TU Expert Review
The InstaForex Team is professional and reliable. I highly recommend this service. They offer optimal trading conditions that are suitable for both novice and professional traders. Clients can work with various types of accounts, use a minimum order of 0.01 lots and more than over 2,500 Forex trading instruments. InstaForex has been working with the Traders Union for many years. We analyzed thousands of customer reviews which were overall positive. Many customers were particularly impressed with their excellent customer service. One such customer said “Its experts are doing everything to solve the financial and technical problems encountered by users as soon as possible”. The user-friendly interface of the website allows you to quickly find and analyze relevant information on both active and passive trading. InstaForex always cares about its customers - it provides favorable conditions for trading, as well as Customer support in an expeditious manner. It is these features that gives it a high rating of reliable Forex brokers of the Traders Union.
Admirals - TU Expert Review
Admirals is a universal broker for over-the-counter Forex trading and exchange trading of stocks with tools for both active trading and passive investing. Following the rebranding in 2021, the company focused on the development of its technical functionality. Traders can use the StereoTrader trading panel with smart automation of executing trades, Trading Central technical analysis tools, volatility protection tools, the Supreme Edition plug-in, and other applications for free. More than 3,000 CFDs are available for trading almost all types of assets, including ETFs, bonds, cryptocurrencies, and more than 4,500 stocks on 15+ stock exchanges globally. Average spread starts from 0.3-0.6 pips subject to the asset and account type, which is a relatively good indicator for a CFD broker. Although cent accounts are not provided, Admirals offers a good scope of educational materials. Step-by-step usage of acquired knowledge on a demo account allows novice traders to approach the “professional” status. Recently, the broker's technical product line has been expanded with a social trading platform. Now Admirals’ clients can earn extra profit by delivering signals or, on the contrary, subscribe to trades of successful traders and copy them to their accounts. When you first discover the functionality of the broker and its security guarantees, you get a positive impression of Admirals, because the company is included in the TU Top 10 every month.
IronFX - TU Expert Review
Over the years of cooperation with Traders Union, IronFX has established itself as a partner that strictly fulfills its obligations. The broker offers accounts for both beginners and professionals. The IronFX website has a convenient multilingual interface. Data on trading conditions are presented in full and described in as much detail as possible. In the process of working with IronFX, clients can trade the following financial instruments: currencies, metals, indices, commodities, futures, and stocks.
Pepperstone - TU Expert Review
Pepperstone is a notable trading company that caters to both beginners and seasoned traders, providing a robust platform for a seamless trading experience. For beginners, the user-friendly interface and comprehensive educational resources make it an ideal choice to embark on the trading journey. The availability of a demo account enables novices to practice strategies without real financial risk, fostering skill development. One of the standout features of Pepperstone is its commitment to regulation, holding licenses from reputable authorities like the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA). This regulatory adherence instills a sense of trust and security among potential traders, emphasizing the company's dedication to maintaining high industry standards. Pepperstone's diverse range of tradable instruments, including Forex, commodities, and cryptocurrencies, provides ample opportunities for traders at various levels. The competitive spreads and efficient order execution contribute to the appeal of the platform for both beginners and professionals. Moreover, the broker's commitment to customer support is evident through various channels, ensuring that traders have assistance when needed. However, potential traders should be mindful of associated fees, and it's advisable to review the terms and conditions thoroughly. In summary, Pepperstone emerges as a reliable and feature-rich trading platform suitable for both beginners and experienced traders, offering a blend of user-friendly interfaces and professional-grade tools.
Summary
Many brokers operate in India, but not all of them are reliable or offer attractive trading conditions. TU experts selected 5 companies and rated them based on collected data. By reviewing them, you will learn about the Best Futures Trading Brokers in India 2024 and will be able to evaluate the pros and cons of its closest competitors.
Overall score of the best Futures Trading Brokers in India
| FxPro | InstaForex | Admirals | IronFX | Pepperstone | |
|---|---|---|---|---|---|
|
Overall score |
8.5 |
7.83 |
8.43 |
6.98 |
8.29 |
|
Execution of orders |
8.25 |
8.85 |
7.65 |
6.85 |
9.15 |
|
Investment instruments |
8.9 |
7.1 |
9.31 |
8.87 |
9.58 |
|
Withdrawal speed |
6.5 |
6.9 |
8.57 |
7.23 |
8 |
|
Customer Support work |
8.9 |
7 |
8.2 |
7.03 |
6.98 |
|
Variety of instruments |
9.27 |
8.02 |
8.75 |
8.02 |
8.75 |
|
Trading platform |
9.2 |
9.1 |
8.09 |
3.88 |
7.29 |
|
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FAQ
What is the best brokerage to trade futures?
FxPro stands out for its competitive pricing and diverse trading platforms. It offers a seamless experience for trading various types of futures.
Can you trade futures in India?
Yes, you can trade futures in India through recognized exchanges like NSE and BSE. Make sure to understand local regulations and tax implications.
Which platform is better for F&O trading?
InstaForex excels in F&O trading, offering a robust platform and extensive research tools. It's a go-to choice for both beginners and seasoned traders.
How do I choose a futures broker?
Consider factors like trading fees, platform usability, and customer service. Always test the platform first to ensure it meets your needs.
What factors are important when you are choosing a broker?
When you are choosing a broker, it is important to make sure it is a reliable company, consider its fees, the list of trading instruments, deposit and withdrawal methods and other factors. It is important to study a broker in detail, before opening an account with it.
Does the choice of a beginner differ from the choice of an experienced trader?
Yes. A novice trader should primarily consider the availability of educational tools and a demo account, as well as basic assets. A more experienced trader is interested in wider opportunities on advanced account types, a wider choice of instruments for technical analysis, and a greater number of trading instruments.
What is a demo account and why is it important?
On a demo account, you trade by using virtual funds. It is important to choose a broker offering a demo account both for beginners, who are only learning, and for experienced traders, who can use this account type to test new strategies or EAs risk-free.
What are the risks of trading in the financial markets?
Any trading in the financial markets carries risks of losing your money due to asset volatility. Therefore, it is important to develop the rules of risk management in your strategy and strictly follow them.
Best Futures Trading Brokers by Countries
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.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).