To trade on foreign currency, you need to find a regulated broker. In India, this is not a problem as most brokers are regulated by the Royal Bank of India (RBI). A forex broker that is SEBI regulated will require a margin deposit to make trades and will settle contracts in INR. The Foreign Exchange Management Act, 1999, passed by the Indian parliament, governs foreign exchange transactions in the country. The SEBI regulates the forex market and sets processes to facilitate growth of the market. The SEBI regulates all Indian Forex brokers and licenses those who engage in currency trading. All SEBI-regulated Forex brokers in India offer only INR against major currencies. The act also stipulates fines for violations. While foreign exchange transactions are not illegal in India, doing so through unregistered brokers and agencies can land traders in trouble.
Another top forex broker among the top 10 forex brokers in india is IC Markets, which offers trading solutions for both institutional and retail traders. The company claims to earn a client 25% more than the competition with tight spreads. Its low spreads, fast deposits, and free withdrawals are all positive factors for traders. As far as ease of use goes, FXTM offers the most user-friendly platform for beginners. Apart from this, it also offers multiple trading accounts.
This Oanda broker review will highlight several positive points of this company. First and foremost, it has registered with six of the strictest regulatory bodies in world finance. Moreover, the company’s fees are also reasonably low, with many different account types available. As a result, a review of Oanda’s pricing will help you choose the best account type for your trading needs.
When evaluating the customer support options available with oanda reviews, it’s important to keep in mind that their business hours are Sunday through Friday. In addition to that, there is live chat support available for customers from 1 PM ET to 6 PM ET. Alternatively, you can also send an email or use the phone to get in touch with a local support agent. However, there are some cons associated with the speed at which customer support representatives respond to inquiries.
Another positive in an oanda reviews is the trading platform. The mobile application offers the same tools and features as the desktop application, including customizable graphs and charts. Users can also change their display style and view news without having to open their browser. In addition to these benefits, Oanda broker regularly updates their mobile app to ensure it continues to run smoothly. These are just a few of the reasons why Oanda is a great option for traders.
Plus500 also offers a number of risk management features such as Guaranteed Stop. You can also try out their mobile platform by downloading it from the website. You can try out the demo account to see if the trading platform is easy to use and intuitive. The Plus500 trading platform provides a free demo account, which includes a fictional amount of money. You can test your trading strategies before you risk real money by placing trades.