The Top 10 Best SEBI Regulated Forex Brokers revealed. We have rated and reviewed the best Forex Brokers regulated by the Securities and Exchange Board of India.
In this in-depth write-up you will learn:
- Which are SEBI-regulated forex brokers in India?
- Regulated forex brokers in India
- A SEBI-registered brokers list
- Are Sebi-regulated forex brokers legit?
- Which forex broker is best in India?
- Are There Any Legal Forex Brokers in India?
- Which Is the Safest Forex Broker in India?
- Top 10 Forex brokers in India
and much, MUCH more!
The Securities and Exchange Board of India – A Definition
The Securities and Exchange Board of India (SEBI) is the leading regulator of securities markets in India. SEBI has wide-ranging regulatory, investigative, and enforcement authority.
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
10 Best SEBI Regulated Forex Brokers in India
| 🔎 Broker | 🤝 Accepts Indian Traders | 💴 Min. Deposit (USD) | 🪙 Min. Deposit (INR) | ❤️ Open an Account |
| 🟥 HFM | ✅ Yes | $5 USD | ₹412 INR | 👉 Click Here |
| 🟧 XM | ☑️ Yes | $5 USD | ₹412 INR | 👉 Click Here |
| 🟨 AvaTrade | ✅ Yes | $100 USD | ₹ 8243 INR | 👉 Click Here |
| 🟩 Alpari | ☑️ Yes | $5 USD | ₹412 INR | 👉 Click Here |
| 🟦 FP Markets | ✅ Yes | $100 USD | ₹ 8243 INR | 👉 Click Here |
| 🟪 FXTM | ☑️ Yes | $10 USD | ₹82 INR | 👉 Click Here |
| 🟥 FBS | ✅ Yes | $5 USD | ₹412 INR | 👉 Click Here |
| 🟧 InstaForex | ☑️ Yes | $1 USD | ₹82 INR | 👉 Click Here |
| 🟨 HYCM | ✅ Yes | $100 USD | ₹ 8243 INR | 👉 Click Here |
| 🟩 Pepperstone | ☑️ Yes | $0 USD | ₹0 INR | 👉 Click Here |
10 Best SEBI Regulated Forex Brokers in India (2025)
- HFM – Overall, Best SEBI-Regulated Forex Broker
- XM – Best MT4 Broker in India
- AvaTrade – Leading Copy Trading Broker in India
- Alpari – Low INR Minimum Deposit
- FP Markets – High Indian Trust Score
- FXTM – Low Trading Cost (₹)
- FBS – Best Broker for Beginners
- InstaForex – 24/7 Hindi Customer Support
- HYCM – Excellent Personal and Educational Support
- Pepperstone – No Hidden Charges (₹)
HF Markets
HF Markets, also known as HFM, is an award-winning forex and commodities broker, that provides trading services and facilities to both retail and institutional clients. The HF Markets Group provides its services in a multitude of countries, including South Africa (FSCA), India (SEBI), and the United Kingdom (FCA).
HF Markets Overview
| 🔎 Broker | 🥇 HF Markets |
| 💴 Min. Deposit | $5 USD |
| 🔁 Spread | Variable |
| ↪️ Scalping | ✅ Yes |
| 📉 Hedging | ✅ Yes |
| ☪️ Islamic Account | ✅ Yes |
| 🅰️ MetaTrader 4 | ✅ Yes |
| 🅱️ MetaTrader 5 | ✅ Yes |
| 🔎 Open an Account | 👉 Click Here |
HF Markets Pros and Cons
| ✅ Pros | ❎ Cons |
| Low deposit requirement for new traders with Micro accounts | Limited range of instruments |
| Lots of premium trader tools available | Account opening not the easiest |
| Good customer support | US clients not accepted |
Min Deposit
USD 0 / ZAR 0
Regulators
FSCA, DFSA, FSC, CMA. FCA
Trading Platform
MT4, MT5, HFM Platform
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
No Trading Fees
Account Activation
24 Hours
XM
XM is a well-established, experienced international investment firm that offers its services to over 10’000’000 clients in 190 countries, including India (SEBI) and South Africa (FSCA). XM offers its clients 25+ secure payment methods,10+ full-feature trading platforms, and 24/7 customer support in over 30 languages.
XM Overview
| 🔎 Broker | 🥇 XM |
| 💰 Min. Deposit | $5 USD |
| ✒️ Regulation | FSC / CySEC |
| 💸 Trading Fee Class | Low |
| ❌ Inactivity Fee | ☑️ Yes |
| 💳 Withdrawal Fee | No |
| 🆓 Demo Account | ✅ Yes |
| 🚀 Open an Account | 👉 Open Account |
XM Pros and Cons
| ✅ Pros | ❌ Cons |
| Negative balance protection | US clients not accepted |
| Strict regulation | Fixed spreads not offered |
| Range of trading platforms | Inactivity fees charged |
Min Deposit USD 5 Regulators FSC, CySEC, ASIC, Trading Platform MT4, MT5
AvaTrade
AvaTrade is one of the most secure brokers in the industry to date with 9 regulations across 6 continents. AvaTrade accepts traders from a multitude of countries including South Africa (FSCA), India (SEBI), and the United Kingdom (FCA). AvaTrade offers access to trade CFDs on FX, Stocks, Commodities, Crypto, Indices & Options.
AvaTrade Overview
| 🔎 Broker | 🥇 AvaTrade |
| 📜 Regulation | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA |
| 💳 Minimum deposit | $100 USD / R1816 ZAR |
| 🚀Bonus | ✅ Yes |
| 🔥Trust Score | 94% |
| 🔥Live support | 24/5 |
| 📱 MetaTrader 4 (MT4) | ✅ Yes |
| 📱 MetaTrader 5 (MT5) | ✅ Yes |
| 📊Trading Islamic Account | ✅ Yes |
| 📊CFDs - Total Offered | 1,200 CFDs |
| 💰 Spreads | 0,9 pips |
| 💰 Withdrawal fee amount | Zero |
| 💰 Trading fees class | Very Low |
| ✔️ Scalping Allowed | ✅ Yes |
| 📈Products Offered | Forex, Stocks (CFDs), Commodities (CFDs), Indices (CFDs), Cryptocurrencies (CFDs) |
| 👥Account Types | Various, including standard accounts, demo accounts, Islamic accounts, and professional accounts (depending on regulation) |
| 📚Educational Resources | Webinars, articles, tutorials |
| 📍 Focus | User-friendly platform for beginners and experienced traders |
| ☎️Customer Support | Multiple languages offered |
| 📌Important Note | AvaTrade does not offer direct trading on the Volatility 75 Index (VIX). |
| 🚀 Open a account | 👉 Open Account |
AvaTrade Pros and Cons
| ✅ Pros | ❌ Cons |
| Wide range of CFDs assets to trade - 1000+ | You can’t buy stock or cryptocurrency |
| Worldwide regulated | Cryptocurrency deposit is not accepted |
| Award winner | Quarterly and annual inactivity fees |
| Multiple platform – MT4, MT5, etc | Costumer support is not available 24/7 |
| Negative balance protection | No bonus for EU based clients |
Alpari
Alpari is an award-winning broker with a presence in 150 countries across the globe. Alpari offers the option to trade across both market-leading MetaTrader platforms with special offers and promotions on offer.
Alpari Overview
| 🔎 Broker | 🥇 Alpari |
| 📌 Regulation | Financial Services Commission |
| 📉 Islamic Account (Swap Free) | ☑️ Yes |
| 📉 Demo Account | ✅ Yes |
| 📉 Institutional Accounts | No |
| 💻 Managed Accounts | ☑️ Yes |
| 📈 Maximum Leverage | 1:1000 |
| 💰 Minimum Deposit | $100 USD |
| 🚀 Open an account | 👉 Click Here 👈 |
Alpari Pros and Cons
| ✅ Pros | ❎ Cons |
| Well-regulated | Restriction on traders from some countries |
| MetaTrader 4 and 5 | Limited financial instruments offered |
| PAMM Accounts | Fixed spread accounts not offered |
Min Deposit USD 100 Regulators FSC Trading Platform MT4, MT5 Crypto Yes Total Pairs 0 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
FP Markets
FP Markets is a trusted Global CFD and Forex Broker that offers its services in multiple countries across the globe. This includes accepting traders from countries such as South Africa, India (SEBI), the United Kingdom, and many more. FP Markets is a one-stop, trusted destination to trade CFDs across Forex, Shares, Indices, Commodities & Cryptocurrencies.
FP Markets Overview
| 🔎 Broker | 🥇 FP Markets |
| 📌 Regulation | CySEC, ASIC |
| ☪️ Islamic account | ✅ Yes |
| 👍 Demo Account | ✅ Yes |
| 📊 Institutional Accounts | No |
| 📊 Managed Accounts | No |
| 📈 Maximum Leverage | 1:400 |
| 💰 Minimum Deposit | $100 USD |
| 🚀Open an Account | 👉 Open Account |
FP Markets Pros and Cons
| ✅ Pros | ❌ Cons |
| Forex fees are low | Stock CFD fees are high |
| Accounts can be opened fast and easy | Product portfolio are somewhat limited |
| Deposit and withdrawal processes are quickly executed | Web and desktop platform is somewhat outdated |
Min Deposit USD 100 Regulators ASIC, CySEC, FSCA, CMA Trading Platform MT4, MT5, Iress Trader, cTrader Crypto Yes Total Pairs 70+ Islamic Account Yes Trading Fees Low Account Activation 24 Hours
FXTM
FXTM is a global leader in online financial trading and investing, offering its users access to Forex, Indices, Commodities, and much more. Traders from a wide array of countries across the globe, including India, are welcome to access a selection of accounts, including demo and micro-accounts.
FXTM Overview
| 🔎 Broker | FXTM |
| 📌 Regulation | FSCA, FSC, CySEC, |
| ☪️ Islamic Account | Yes |
| 🆓 Demo Account | Yes |
| 📍 Institutional Accounts | Yes |
| 📊 Managed Accounts | Yes |
| 📈 Maximum Leverage | 1:2000 |
| 💰 Minimum Deposit | $200 |
| 📌 Open an Account | 👉Open Account |
FXTM Pros and Cons
| ✔️ Pros | ❌ Cons |
| Tighter spreads due to direct market access | Commissions charged on each trade |
| See live market depth and liquidity | Commissions can add to trading costs |
| Trade a wider range of instruments (Forex, Commodities, Indices) | No direct access to Stocks on ECN platform |
Min Deposit USD 200 Regulators FCA, FSC, FSCA Trading Platform MT4, MT5, FXTM Trader Crypto No Total Pairs 0 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
FBS
FBS is a reliable Broker that makes trading accessible to 27 million traders across the globe. FBS traders will have access to more than 100 Trading Instruments, Multilingual Customer Support, Low minimum deposits, and much more.
FBS Overview
| 🔎 Broker | 🥇 FBS |
| 💰 Bonus | ☑️ Yes |
| 📌 Regulation | IFCS |
| ☪️ Islamic account | ☑️ Yes |
| 👍 Demo Account | ✅ Yes |
| 📊 Institutional Accounts | No |
| 📊 Managed Accounts | No |
| 📈 Maximum Leverage | 1:3000 |
| 💰 Minimum Deposit | $1 USD |
| 🚀 Open an Account | 👉 Click Here |
FBS Pros and Cons
| ✅ Pros | ❌ Cons |
| Low stock and stock index CFD fees | Slim product portfolio |
| No inactivity fee | Limited account base currencies |
| Fast account opening | Limited Investor Protection |
Min Deposit
USD $5
Regulators
FSC, ASIC, CySEC
Trading Platform
MT4, MT5, FBS App
Crypto
Yes
Over 27 000 000+ Traders
InstaForex
InstaForex is a Market leading Forex service provider that offers access to 300+ trading platforms, Crypto Trading, Deposit Bonus offers, and much more. InstaForex is chosen by 7 000 000 traders worldwide including investors from South Africa, India, Latin America, and more.
InstaForex Overview
| 🔎 Broker | 🥇 InstaForex |
| ⭐ Regulation and Licenses | BVI FSC, CySEC, FSA SVG, FCA |
| ⏰ Support Hours | 24/5 |
| 💻 Trading Platforms | MetaTrader 4, MetaTrader 5, WebIFX, InstaForex Multi-Terminal, InstaForex WebTrader, InstaTick Trader, InstaForex MobileTrader |
| 🖱️ Account Types | Insta.Standard, Insta.Eurica, Cent.Standard, Cent.Eurica |
| 🤝 Base Currencies | USD, EUR |
| 📊 Spreads | From 0.0 pips |
| 📈 Leverage | Up to 1:1000 |
| 💸 Currency Pairs | 110.minor, major, and exotic pairs |
| 💳 Minimum Deposit | 1 USD |
| 🚫 Inactivity Fee | ✅Yes |
| 🤝 Fees and Commissions | Spreads from 0.0 pips, commissions from 0.3% |
| ✅ Affiliate Program | ✅Yes |
| 🅰️ Scalping | ✅Yes |
| 🅱️ Hedging | ✅Yes |
| ⚙️ Trading Instruments | Forex, shares, indices, precious metals, energies, commodity futures, cryptocurrencies, InstaFutures |
| 🚀Open an Account | 👉 Click Here |
InstaForex Pros and Cons
| ✅ Pros | ❌ Cons |
| Low minimum deposit (starting at $1) | Limited regulation (primarily CySEC, BVI FSC) |
| Wide range of trading instruments (Forex, stocks, commodities) | No guaranteed payout (GP) for trading indices or stocks |
| Multiple account types (including PAMM accounts) | Swap fees apply for overnight positions |
| Offers demo account for practice | Inactivity fee ($10 after 12 months of no trading) |
| Negative balance protection | Complex fee structure may be unclear to beginners |
| Two-step authentication for added security | Limited customer support availability during peak times |
| User-friendly trading platform (MetaTrader 4 & 5) | No VPS hosting for traders |
| Educational resources available for beginners | Withdrawal fees may apply depending on the method |
| Affiliate and IB programs available | Not suitable for U.S. clients |
| Responsive customer support (live chat and email) | No support for accounts in local currencies (ZAR, etc.) |
Min Deposit USD 1 Regulators CySEC, FSC Trading Platform MT4, MT5 Crypto Yes Total Pairs 107+ Islamic Account Yes Trading Fees Low Account Activation 24 Hours
HYCM
HYCM is an established and trusted broker with over 40 years of experience in the field. HYCM offers access to spreads from 0.1 Pips and 300+ trading instruments to 140 Countries across the globe including India, Dubai, and Cyprus.
HYCM Overview
| 🔎 Broker | 🥇 HYCM |
| 📌 Regulation | FCA, CySEC, DIFC, DFSA, CIMA |
| 🌐 Countries not accepted | USA or Canada |
| ☪️ Islamic account | ✅ Yes |
| 📒 Demo Account | ✅ Yes |
| ✴️ Institutional Accounts | ✅ Yes |
| 👨🏼💼 Managed Accounts | ✅ Yes |
| ⬆️ Maximum Leverage | 1:30 |
| 💰 Minimum Deposit | $100 USD |
| 👉 Open a account | Click Here |
HYCM Pros and Cons
| ✅ Pros | ❌ Cons |
| Low forex and CFD fees | Only forex and CFD products |
| Great educational content | Outdated platform design |
| User-friendly | Inactivity fee |
Min Deposit USD 20 Regulators FCA Trading Platform MT4, MT5, WebTrader Crypto No Total Pairs 0 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
Pepperstone
Pepperstone is a well-established service provider trusted by over 400,000 traders around the world. Pepperstone accepts traders from countries including Kenya, India, and South Africa, offering these countries access to Forex, Commodities, Shares, and more.
Pepperstone Overview
| 🔎 Broker | 🥇 Pepperstone |
| 💰 Min Deposit | $0 USD |
| ✒️ Regulation | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB |
| ☪️ Islamic Account | ☑️ Yes |
| 🆓 Demo Account | ☑️ Yes |
| 💵 Base Currencies | 9 |
| 🔁 Forex Pairs | 60+ |
| 📈 Share CFDs | 60+ |
| 📉 Index CFDs | 16 |
| 🚀 Open an Account | 👉 Click Here |
Pepperstone Pros and Cons
| ✅ Pros | ❌ Cons |
| Account opening is fast and fully digital | Only Forex, CFDs, and crypto |
| Majority clients belong to a top-tier authority | High bank withdrawal fee outside EU/Australia |
| Low Forex and equity index CFD fees | High financing rate for CFDs |
| Low non-trading fees | Basic news flow, no fundamental data |
Min Deposit USD 0 Regulators ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB Trading Platform MT4, MT5, cTrader, TradingView Crypto Yes Total Pairs 62 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
Conclusion
Now it is your turn to participate:
Which SEBI Regulated Forex Broker from this list do you intend to test out?
What was the determining factor in your decision to engage with a certain broker?
Was it because of the INR minimum deposit or the Pros and Cons?
Regardless, please share your thoughts in the comments below.
You might also like: HFM Review
You might also like: XM Review
You might also like: AvaTrade Review
You might also like: Alpari Review
You might also like: FP Markets Review
Frequently Asked Questions
Who is SEBI in India?
The Securities and Exchange Board of India (SEBI) is the leading regulator of securities markets in India.
What authority does SEBI have?
SEBI has wide-ranging regulatory, investigative, and enforcement authority.
Who is the favorite broker choice of traders in India?
Overall, HF Markets, also known as HFM, is the most popular broker choice in India.
Is it safe to trade with SEBI-regulated Forex Brokers?
Yes, SEBI-regulated brokers are routinely audited and supervised for any financial discrepancies.
Top 4 Brokers
