Top 7 Best Forex Trading Apps In India 2023
With the current state of the world’s economy due to inflation, unstable crude oil price, war, and so on. Few traders in India have found a way to benefit from this current happenings by trading forex. And with the help of these best forex trading apps in India, traders now find it easy to trade comfortably. With any of these apps to trade forex in India installed on your phone, you can be anywhere and still trade.
This makes forex trading simple and quick. Each of these apps has its own advantage and flaws, so we urge you to read thoroughly before downloading any of the apps. These apps were selected based on certain features which include excellent trade features, low spread, minimum deposits, quick trading speed, security, etc.
So you can be rest assured that these apps are reliable and trustworthy. Better still go through the terms and conditions of the app before using it. Let’s go check these best forex trading apps out.
Best Forex Trading Apps In India 2023
First on our list of best forex trading apps in India is eToro. The eToro trading platform is one of the largest forex and stock trading platforms in the world. It is trusted by millions and the positive reviews from other users make it one of the best places to trade forex in India. eToro app offers over 3000 symbols and exchange trade securities. The app is s good place to start for those who long to get more experience in forex trading.
This is possible because of its social features and engaging community. You can copy from expert traders before you gain experience of your own. The types of accounts you can get from eToro ate Macro, standard, Islamic, and VIP accounts. The minimum amount to start trading on the app is $10. The eToro platform is also one of the best platform used in USA and all over the world.
eToro security features make it stand out among others. It recently introduced two-factor authentication to help get your asset safe. However, the app lacks MetaTrader and standard research tools which are present in other apps. However, it is still one of the best to trade forex in India. You can use the app to also trade stocks and cryptocurrency.
2. XM App- Best Forex Trading Apps In India
The next app on our list of best forex trading apps is the XM app. XM is a general investment platform and one of the good investment platforms in India. The app has a large collection of securities and financial options which include forex, stocks, bonds, and cryptocurrency. It has the MetaTrader feature that is absent in eToro and comes with lots of educational resources for both beginners and expert traders.
The XM app has a nice interface that makes forex trading quick and easy. It has a minimum deposit of $5 and withdrawal is fast without any hidden charges. If you desire it, XM allows users to have more than one accounts, which means those who wish to have more than one account can do that on the XM app. One downside of the app is that it has limited products. However, it can level up for that with its real-time market analyzer algorithm.
Forex Time Limited was founded way back in 2011. Which makes it a reliable platform to trade forex. FXTM focuses majorly on Foreign exchange and Contracts for difference trading. Just like most of the best forex trading apps, FXTM offers its users instruments for trading, practice account, and training resources for beginners and account managers.
The app supports MetaTrader 4 and 5 and offers products like commodities, stocks, gold, and silver in addition to FX and CFDs on currencies. Similar to the XM app, FXTM allows you to have more than one account. It has a minimum deposit of $10 and supports over 30 payment options. The app is available on both Android and iOS devices and it’s one of the best forex trading apps for beginners because of its teaching resources.
4. 5Paisa App
The 5Paisa app is another top forex trading app available to Indian forex traders. It features a simple user interface that makes trading easy and quick. The owners design the app with aim of offering traders a reasonable price, insurance, mutual funds, and easy online trading. The app also features unlimited price alerts and watchlists, real-time data, stock quotations, and multiple watchlist tools.
Traders also get advanced charts, and price chargers and are able to launch multiple orders with a click. The security features help to secure your asset. The app features a demo account that allows you to practice before you begin to trade in real life. Mind you there are certain charges on trades, so it’s good to check before you go into trading.
5. HotForex App
HotForex App comes with good trading tools that help make users enjoy secure and quick forex trading. HotForex is a robust platform that provides users with a wide variety of options to trade on. The owners have over a decade of experience in trading which make the app reliable and trustworthy. It features MetaTrader 4 and 5 which are the best trading terminals currently. It has a minimum deposit range of 5 to 250 USD.
Other tools on the app are trader information and market news, Autocharts, and market structure which feature above-average variability. HotForex offers other assets which include stocks, cryptocurrency, and on. Mind you the type of account you have determines the size and leverage. The drawback of the app include limited payment options and you can’t trade during the weekends.
6. Olymp Trade-Best Forex Trading Apps In India
The Olymp Trade app has been around for a while. It was first launched in 2014 and since then has been going strong. The app is available in 30 countries which includes India. It’s one of the best and most reliable forex trading apps. It’s one of the good apps for beginners since it reduces market risk and offers a large market potential return. It offers a demo account for novices to start with, and a customized graph that helps in trading. Olymp Trade has a minimum deposit of $10.
Also, it offers ECN accounts, and extensive training materials to help you get better at trading. The Olymp Trade app allows users to trade over 80 assets which include FX, stocks, commodities, crypto, and so on. The app features 13 languages for brokerage and supports Auto trading which makes 24/7 trading possible. The user interface is superb and it supports a variety of payment options. However, using an unverified account to withdraw might be problematic and it does not provide precise bonus terms.
Market.com is a UK-based forex trading app that was launched in 1999. The app is available to Indian traders to aid them trade forex with ease. The app is a well-organized app with simple and valuable tools for trading forex. The app features a training video and research materials to help traders learn more about trading forex, and a market analysis tool. However, it lacks more of the key features you find in most of the best forex trading apps in India. Yet it is still a good app to trade forex.
It features a stock alert, market alert, hedge fund confidence indices, and a training pattern that assists investors. It also provides buy, sell, and hold signal tools that inform you when to buy, sell or hold the assets. You can also use the app to trade ETFs, Stocks, Cryptocurrency, metals, and blends. Account creation is quick and straightforward. When it comes to deposit and withdrawal, it is also simple and quick with no fee attached. However, it has limited products and is expensive to operate with.
Final Words On the Best Forex Trading Apps In India
There you have it, the best apps to trade forex in India. If you watch closely, you will notice that each of these apps comes with its own advantage. Some have more products than others. While others are the best trading apps for beginners because of the teaching resources it comes with. The only thing you have to do is to review the app that best suits your trading style and download it. You can check out trading apps on the site.