Best Indian Forex Broker – NordFX
NordFX is an international Forex broker providing individual and corporate customers with a full set of services for trading Forex. With offices across the world, including in India, NordFX are a solid choice for Indian forex traders.
NordFX are industry leaders when it comes to forex trading technology, keeping up with the latest offerings that the modern forex broker has. They regularly are expanding on their range of financial instruments within their trading platform, as well as the services they offer their clients on the latest version of the trading platform.
Clients of NordFX have the choice between some of the most popular trading programs in the industry, giving them quick and easy access to their trading accounts no matter where they are. Offering MetaTrader 4 (MT4), MetaTrader 5 (MT5) and a whole suite of mobile trading applications, there is plenty of choice. Alongside advanced information technology and quality software, NordFX are pleased to provide their customers with high-class Indian forex broker services.
Indian Forex Traders
Many Indian forex traders as the question is forex trading in India legal. The legality of trading forex in India is under ongoing debate. While the Reserve Bank of India (RBI) does everything in its power to stop people from trading forex within the country, many still do thanks to foreign brokers opening offices and allowing Indian clients to deposit money offshore.
Just keep in mind that the RBI monitors transactions to and from your bank account if they suspect you to be engaging in offshore, illegal activity related to currency trading. Taking this risk is up to the individual client, and doing your own research here is advised. The sheer number of Indian forex traders and Indian forex brokers (at least foreign companies opening offices in the country such as NordFX) shows that the risks are low.
We spoke to one Indian forex trader who told us that while forex trading is technically illegal in India, there are exceptions for traders who are classed as ‘corporate investors’. This is of course another huge grey area and acts as a loophole for retail forex traders in the country wanting to open an account. They can simply open up an offshore bank account and fund their forex trading account via that.
If you’re an Indian forex trader, open an account with one of the best Indian forex broker award winners here and follow the advice above to avoid any problems.