The forex market, with its daily trading volume exceeding $6 trillion, is the largest and most dynamic financial market in the world.
If you’re interested in forex trading in India, having the right app is crucial.
Since forex trading in India is strictly regulated, choosing a reliable app approved by SEBI (Securities and Exchange Board of India) or globally recognized is essential for safe and efficient trading.
The best legal forex trading apps in India offer user-friendly interfaces, secure transactions, and helpful tools for traders.
Now finding the right forex app can be tricky. There are many options, but not all are safe or legal.
This guide walks you through the best forex trading apps for India in 2025, compares their features, and explains how to choose the right platform for your needs.
Best Forex Trading Apps in India
1) Zerodha
Zerodha is a top choice for forex trading in India.
Its app, Zerodha Kite, offers a user-friendly interface that makes trading easy. You’ll find comprehensive features to help you make informed decisions.
Kite is known for its low brokerage fees. This can save you money on each trade. The app provides real-time market data and advanced charting tools.
Commissions and Fees Structure
- Equity Delivery: No charges for transactions up to ₹200; thereafter, a fee of 0.03% applies to each trade.
- Intraday and Currency Derivatives: A flat fee of ₹20 is charged for every executed order.
Zerodha Kite is popular among both new and experienced traders. It offers a smooth trading experience on mobile devices. You can place orders, track your portfolio, and get market updates on the go.
As it supports multiple order types, Kite gives you flexibility in your trading strategy. It also provides detailed reports of your trading activity.
These reports can help you review and improve your performance.
2) Angel One
Angel One, previously recognized as Angel Broking, is a leading retail brokerage in India, offering an all-encompassing trading platform for a diverse range of financial instruments.
These include equities, commodities, currencies, futures, and options.
Founded in 1987 and operating under the oversight of the Securities and Exchange Board of India (SEBI), Angel One has gained a strong reputation for delivering dependable and user-friendly trading solutions.
With a customer base exceeding 10 million across India, it remains a trusted choice for traders and investors nationwide.
You can trade various currency pairs on Angel One. The app provides real-time market data and charts to help you make informed decisions.
This platform is perfect for investors seeking advanced tools.
It includes features such as
- Multiple order types (Limit, Market, GTT, and Stop Loss)
- Detailed charting capabilities with over 100 technical indicators.
- Comprehensive options data, including metrics like Last Traded Price (LTP), Open Interest (OI), and volume, filtered by Call or Put options.
Affordable and Transparent Pricing
Angel One operates on a flat-fee brokerage model designed to minimize costs for frequent traders:
- Equity Delivery Trades: No brokerage fees apply, making it highly attractive for long-term investors.
- Intraday and Derivative Trades: Flat fee of ₹20 per executed order for intraday, futures, and options trading.
- Commodities and Currency Trading: A flat rate of ₹20 per trade applies here as well.
AI-Powered Investment Advisory with Angel ARQ
One standout feature of Angel One is its Angel ARQ tool, a proprietary AI-driven advisory platform.
ARQ uses advanced algorithms to provide personalized stock recommendations and insights tailored to your investment goals. It’s a game-changer for traders seeking data-backed decisions without extensive manual analysis.
3) 5Paisa
5Paisa Capital Ltd is a leading fintech company in India, recognized for its focus on discounted online stock broking, depository services, and financial product distribution.
Established in 2007, the company operates as part of the IIFL Group, under the leadership of Nirmal Jain.
With its innovative and affordable solutions, 5Paisa has gained substantial popularity, particularly among young investors and those from Tier II cities.
Financial Performance
5Paisa has demonstrated strong growth and performance metrics in recent years:
- Client Expansion: The company has experienced a rapid increase in its customer base, with 84% of new users coming from Tier II cities and 78% aged under 35.
- Revenue Growth: In Q4 FY22, 5Paisa recorded a 78% year-on-year revenue increase, driven by a surge in brokerage services.
- Profitability: Although profitability is moderate with a score of 52 out of 100, the company’s consistent growth reflects its potential in the fintech space.
With a market capitalization of approximately ₹1,560 crore, 5Paisa has established itself as a key player in India’s retail stock market.
As of March 2022, it held a 3.5% share of the retail cash market.
4) Motilal Oswal
Motilal Oswal is a top choice for forex trading in India. This well-known financial services company offers a user-friendly platform for currency trading.
You can easily start trading with Motilal Oswal. Just log in to your account through their app or website. Go to ‘Profile and Settings’ and select ‘Segment Activation’. Upload proof of income, like a 6-month bank statement or recent tax return.
The app activates your currency trading segment within 24 hours. This quick setup lets you begin forex trading fast.
Motilal Oswal has strong oversight. It’s regulated by both SEBI and RBI, India’s main financial watchdogs. This dual regulation helps keep your trades safe and lawful.
The app charges low to zero fees for forex trades. Thus, you’ll face minimal costs when buying or selling currencies.
Motilal Oswal provides robust trading tools. Their MO Investor app and Trading Terminal give you market data and analysis to help with your trades.
5) Upstox Pro
Upstox Pro is a widely recognized online trading app in India.
With its intuitive design and a suite of advanced trading tools, the app has carved a niche as a reliable platform for managing investments and trades effortlessly.
Key Features That Set Upstox Pro Apart
1) Advanced Charting Tools
Upstox Pro boasts sophisticated charting functionalities, making it easier for traders to analyze market trends.
It offers:
- A variety of technical indicators.
- Customizable drawing tools for detailed trend analysis.
- Interactive charts to help you make data-driven decisions.
2) Customizable workspaces
Traders can design their workspaces to suit their preferences. Whether you want specific charts, watchlists, or market data, the flexibility of organizing everything in one view enhances productivity and streamlines trading strategies.
3) Multiple Order Types
Upstox Pro supports a wide range of order types, such as:
- Market Orders: Buy or sell at the current market price.
- Limit Orders: Set your price to buy or sell.
- Stop-Loss Orders: Minimize potential losses by automating exits.
This flexibility ensures that traders can execute strategies effectively and adapt to market conditions.
4) Real-Time Market Data
The app provides live updates on market movements, empowering traders with up-to-the-minute information.
This feature is crucial for time-sensitive trades, enabling users to seize opportunities as they arise.
With Upstox Pro, you can trade forex easily on your phone or computer. It has low, fixed fees that make it affordable for many traders.
6) Geojit Selfie
Launched in 2015 by Geojit BNP Paribas Financial Services, Geojit Selfie is a sophisticated trading and investment platform tailored to meet the needs of both beginners and seasoned investors.
With its user-friendly design and a suite of powerful tools, the platform simplifies the trading process while offering advanced functionalities for informed decision-making.
Personalized Trading Experience
The platform empowers users to customize their trading environment, featuring:
- Real-time market data and live charts.
- Comprehensive research updates and market insights.
- Easy navigation for a more intuitive trading experience.
Functionalities That Enhance Trading
Geojit Selfie goes beyond basic trading features, providing a variety of tools to optimize the user experience:
- Dynamic Market Watch: Create custom watchlists to monitor your favorite stocks and commodities in real-time.
- Order Management: Place and track different types of orders effortlessly, ensuring quick and accurate execution.
- Portfolio Management: Get a clear view of your portfolio’s performance with detailed metrics and insights to guide investment decisions.
- Research Tools: Access detailed market analysis and in-depth reports to stay ahead in your trading journey.
7) Kotak Securities
Kotak Securities trading app makes it super easy to access real-time market data and execute trades easily.
The app provides tools for technical analysis to help you make informed decisions.
Main features include:
- Real-Time Market Updates: Provides live stock quotes and market movements.
- Portfolio Management: Users can monitor their investments on the go.
- Market Analysis Tools: Access to research reports and stock analysis.
- Live TV Access: Connects users to Bloomberg TV for live updates.
- User-Friendly Interface: Allows buying and selling stocks with simple swipes or taps1.
The platform allows trading in major currency pairs involving the Indian Rupee. This includes USD/INR, EUR/INR, and GBP/INR.
The app has strong security features to protect your account and transactions. You can set price alerts and use stop-loss orders to manage risk.
It offers a Demat account with no minimum balance requirement, meaning you can maintain a zero balance in your account without any penalties or fees
Trading Fees are competitive compared to other Indian brokers.
8) AvaTrade
AvaTrade is a reputable online broker specializing in forex and CFDs.
Founded in 2006, the company is based in Dublin, Ireland, and operates under the regulation of various authorities, including the Central Bank of Ireland and the Australian Securities and Investments Commission (ASIC).
In India, the company complies with national regulatory requirements.
AvaTrade offers access to a broad range of trading instruments such as forex, stocks, commodities, ETFs, and cryptocurrencies via platforms like MetaTrader 4 and the AvaTradeGo app.
Key features
- Easy-to-use platforms: AvaTrade provides beginner-friendly and advanced platforms with features like copy trading to replicate successful traders’ strategies.
- Extensive market options: The broker supports trading in over 1,250 financial instruments, including forex pairs, commodities, indices, and cryptocurrencies.
- Educational tools: AvaTrade offers a variety of resources to help traders improve their skills and understanding of the markets.
- Regulatory oversight: AvaTrade operates under multiple regulatory bodies and includes safety measures like negative balance protection to secure clients’ funds.
Pros
- Variety of trading options: Access to forex, CFDs on stocks, commodities, and cryptocurrencies.
- Good customer support: Responsive and accessible through multiple channels.
- Learning Resources: Comprehensive educational materials for traders at all levels.
Cons
- Inactivity fees: A $50 fee is charged quarterly after three months of inactivity, and $100 annually after a year of no activity.
- Restricted access: The platform is unavailable to U.S. residents.
- Average trade execution: Execution speed and slippage are not standout features.
- No Guaranteed Stop Losses: Unlike some competitors, AvaTrade does not offer guaranteed stop losses, which can expose traders to higher risks during volatile market conditions
Fees Overview
AvaTrade maintains a clear fee structure:
- No withdrawal fees: Clients can withdraw funds without extra charges.
- Competitive spreads: Forex spreads start at 0.9 pips for popular pairs like EUR/USD.
- Inactivity charges: $50 per quarter after three months of inactivity and $100 annually after 12 months of inactivity.
Forex Trading Regulations in India
Forex trading in India is subject to strict rules.
The Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI) control how it works.
You need to know these rules before you start trading.
Regulatory Bodies
The RBI is the main authority for forex trading in India. It sets the rules for currency exchange and overseas investments.
SEBI also plays a key role. It oversees the stock markets and currency derivatives trading.
These bodies work together to:
- Set trading limits
- Control which currency pairs can be traded
- Monitor forex transactions
The RBI allows the trading of major currency pairs like USD/INR, EUR/INR, GBP/INR, and JPY/INR. But it bans trading of other currency pairs not involving the Indian Rupee.
Legal Framework
The legal rules for forex trading in India are complex. Here’s what you need to know:
- You can trade forex through RBI-approved brokers
- Only certain currency pairs are allowed
- There are limits on how much you can trade
The Foreign Exchange Management Act (FEMA) is the main law that governs forex trading.
It sets out:
- Who can trade Forex
- What can be traded
- How much can be traded
Breaking these rules can lead to heavy fines or even jail time.
Always check if a Forex app is legal before you use it. SEBI-regulated platforms like Zerodha and Upstox are safe options for forex trading in India.
Features to Consider in Forex Trading Apps
When choosing a forex trading app, you need to look at key aspects that affect your trading experience. The app’s design and security measures play a big role in how well you can trade.
User Interface and Experience
A good forex trading app should be easy to use. Look for apps with clear layouts and simple navigation. Charts and data should be easy to read on your phone screen.
The app should load quickly and work smoothly. Slow or glitchy apps can cause you to miss trading chances. Check if the app lets you set up custom alerts for price changes.
Make sure the app works well on your device. Some apps are better for Android, while others work best on iOS. Test the app’s demo version before you start real trading.
Security and Compliance
Your money and data need to be safe when you trade forex.
Pick apps that use strong encryption to protect your info. Look for apps that offer two-factor authentication for extra security.
Check if the app is approved by Indian regulators like SEBI and RBI. This helps ensure the app follows Indian laws and protects your interests.
The app should have clear terms of service. Read these to understand how they handle your data and money. Good apps also offer customer support in case you have issues or questions.
Maximizing Profit with Forex Trading Strategies
Forex trading can be very profitable if you use the right strategies.
You need to know how to analyze the market and manage your risk. Let’s look at some key tools and techniques that can help boost your profits.
Technical Analysis Tools
Technical analysis is crucial for spotting trends and making good trades.
You should use charts to track price movements. Look for patterns like support and resistance levels. These show where prices tend to stop falling or rising.
Some useful tools include:
- Moving averages: Help identify trends
- RSI (Relative Strength Index): Shows if a currency is overbought or oversold
- MACD (Moving Average Convergence Divergence): Signals potential trend changes
Forex trading apps often include these tools. Practice using them to improve your trading decisions.
Risk Management Techniques
Managing risk is key to long-term success in forex trading. You need to protect your capital while aiming for profits.
Here are some important techniques:
- Set stop-loss orders: This limits your losses if the market moves against you.
- Use proper position sizing: Don’t risk too much on a single trade.
- Diversify your trades: Don’t put all your money in one currency pair.
Remember, even the best traders have losing trades. Good risk management helps you stay in the game long enough to profit overall.
Regulated forex platforms often offer features to help with risk management. Use these tools to protect your investments.
Is forex trading illegal in India?
While direct trading through international platforms is illegal, currency trading is permitted through regulated Indian exchanges.
The Reserve Bank of India and SEBI strictly regulate this activity, allowing Indian residents to legally trade seven specific currency pairs.
However, engaging in unauthorized Forex trading can lead to serious legal consequences.
Therefore, individuals interested in Forex trading in India must ensure they operate within the legal framework, using only authorized channels and complying with all relevant regulations to avoid legal issues.