From real-time market analysis to intuitive interfaces, explore the features propelling these apps to the forefront of currency trading.

We live in a world where everything can be done with a few taps on our smartphones, from ordering food and groceries to trading stocks and opening bank accounts. So why should Forex trading be any different?

Forex trading refers to the trading of currencies. It is one of the most liquid investments in the world. Since the forex trading market is open 24/7 and extremely volatile, it is crucial to have fast access to information and the latest changes in the market. This is where a forex trading app comes in. 

The best forex trading app offers real-time market updates, news, analytics, and Educational content. They can easily make trading a lot more effortless for you. That is why, in this article, we’ll introduce the 10 best forex trading apps in India. 

10 Best Forex Trading Apps in India

Here are the best forex trading apps in India:

*Ratings have been taken from Trustpilot.

1. AvaTrade

Why did we choose this app?

AvaTrade, awarded as the Most Reliable Trading Platform UK 2023 by World Business Stars Magazine, provides trading for over 1,000 instruments. It is regulated on six continents and has over 4,00,000 registered traders across the globe.

The app offers market trends, educational content, and several technical analysis features. It is heavily regulated, which makes it a safe and trustworthy option.

Pros

• Offers analysis features like watchlists, customized charts, and drawing tools
• Commission-free 
• Well-regulated
• Proprietary app and supports MT4 and MT5 
• Best for spreads as EUR/USD begin from 0.9 pips 
• Robust customer support 

Cons

• Market analysis is limited 
• Minimum deposit is higher than other apps

2. IG

Why did we choose this app?

IG is a comprehensive forex trader that supports over 80 forex pairs. It offers excellent educational content, research tools, and analysis. The app is easy to use and contains 30 technical indicators. 

Further, IG offers quick account verification and commission-free forex trading. The app also offers a free demo account, so you can learn before actually trading. 

Pros

• Offers exclusive market data and risk management tools
• Commission-free 
• No minimum deposit on bank wires
• Proprietary app and supports MT4
• Spreads start at 0.8 pips

Cons

• Does not support MT5
• Minimum deposit on debit or credit card payments is $450

3. Forex.com

Why did we choose this app?

Forex.com is a popular forex trading app in the US. It was established in 2001 and has over 4,54,000 customers worldwide. The app supports over 80 forex pairs. Apart from US clients, it also supports non-US clients. However, the pricing and account types can vary accordingly. 

The app is best for experienced users and beginners alike. It supports a fair amount of educational content, so beginners can also use it. 

Pros 

• Supports native app, MT4, and MT5
• Commission free
• Regulated in multiple areas
• Non-US clients cannot access DMA accounts

Cons

• High minimum deposit
• Spreads start at 1 pips

4. Saxo

Why did we choose this app?

With more than 185 forex pairs, Saxo is among the best forex trading apps in India. It was founded in 1992 and has over 71,000 instruments. The app comes with more than 50 technical indicators and innovative risk management tools. The mobile, web, and desktop versions are well-unified. 

Pros 

• Easy-to-use platform and outstanding research 
• Commission free
• Regulated in multiple areas
• Spreads begin at 0.5 pips

Cons

• Customer support is not available 24/7
• Limited educational content

5. FP markets

Why did we choose this app?

FP markets offer several trading platforms, including MT4, MT5, and Iress. It provides over 70 forex pairs in all the major currencies. The trading platform gives access to several tools that help analyse market direction. The vast educational content makes it a great forex trading app for beginners. 

Pros

• Trade on spreads starts at 0.0 pips
• Iress offers more than 10,000 tradable symbols
• Excellent educational tools 
• Multiple INR deposit options

Cons

• Lacks features compared to other platforms
• Iress is more focused on shares
• Outdated web platform and low-quality research tools

6. Forex4you

Why did we choose this app?

Forex4you has over 150 tradable instruments and offers free market analytics. It supports MT4, MT5, and native apps for desktop and web. The minimum deposit is $0.

Pros

• 24/7 customer support
• In-depth research content
• Spreads can begin at as low as 0.1
• Easy to use
• Multiple INR trading pairs

Cons

• Above-average trading fees

7. Octa

Why did we choose this app?

Octa has a presence in over 180 countries and 21 million open trading accounts. It supports both MT4 and MT5, along with its own OctaTrader platform. It can be easily used on both iOS and Android devices. 

Pros 

• Low minimum deposit
• Spreads begin at 0.6 pips
• 24/7 minimum support 
• Copy trading accounts
• Zero inactivity fees 

Cons

• Only 1 regulatory license
• Limited educational content
• No phone support 

8. FXCM

Why did we choose this app?

FXCM is another well-known name in the industry, with a wide range of educational and research tools. It supports several third-party algorithmic trading platforms. The platform also supports several unique instruments for trading. 

Pros 

• Advanced trading tools
• 60 indicators and multiple drawing tools
• Excellent research and educational resources 

Cons

• A limited selection of CFDs
• Effective spreads are higher than the industry average
• MT5 is not supported

9. XM Group

Why did we choose this app?

XM Group is a popular forex trading app for beginners. It offers MT4 and MT5 for trading purposes. It is well-regulated and offers high-quality educational content for investors willing to learn. There are three account types: micro, standard, and commission-based XM Zero accounts. All three accounts have tight spreads. 

Pros 

• Great for beginners
• Low minimum deposit
• Excellent educational content 
• Easy account opening 

Cons

• Limited products
• Average forex fees 

10. Oanda

Why did we choose this app?

Oanda enjoys a stellar reputation in the forex trading app world. It has a native app for mobile and desktop, and it also supports MT4 and MT5. It is easy to open an account on the platform. However, it has a limited product portfolio. 

Pros 

• Excellent research offerings
• Quick account opening
• Tight spreads
• Over 50 technical tools
• Spreads start at 0.6 pips

Cons

• Video educational content can be better
• A proprietary platform can be better

Conclusion

Forex trading can be incredibly profitable, but only when done carefully and with knowledge. While choosing the best forex trading app, it is crucial to look at the fees, regulations, security, user-friendliness, and tools and features. 

The apps listed here provide educational content, low fees, and market analysis tools. So, whether you’re a seasoned investor or a newbie, you can easily use these apps to enter the magical world of forex trading.