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Best CFD Brokers in India for 2024

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We’ve put together this list of what we feel are the best CFD brokers in India for 2024. Each broker has been carefully chosen to offer a range of services and features, designed to help you choose the account that best suits your trading needs.

We will only include reputable companies on the site. Each of the CFD brokers featured here are authorised and regulated by a respected tier one international regulatory body.

Choose from our selection of the best CFD brokers in India

CFD Brokers The Armchair Trader says:

Pepperstone

Minimum
deposit: $0

With a strong focus on the trading experience, industry leading technology, low costs and award-winning client support, we feel that Pepperstone is a good option for the more established high volume day trader.

FP Markets

Minimum
deposit: $100

FP Markets is an established ASIC, CySEC and FSP regulated broker. They offer access to the industry leading MetaTrader platforms. There’s a copy trading service and they provide pricing directly from the market. That means fast execution and transparent pricing. A 24/7 multilingual client support service has won recognition through the highly respected Investment Trends awards.

Capital.com

Minimum
deposit: $20

Capital.com’s easy-to-use platform, first-rate client support, and seamless integration with MT4 and TradingView make it a worthy contender for beginner and experienced CFD traders alike. Capital.com’s awards include ‘Best CFD Provider (2023)’ at the Online Money Awards, with the broker boasting an ‘Excellent’ Trustpilot rating.

84.01% of retail investor accounts lose money.

IG

Minimum
deposit: $0

With deeper pockets to invest in their services than most brokers, IG’s platform suite and trading support tend to lead the way. IG is a good all-rounder for novice through to experienced traders and investors.

71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Interactive Brokers

Minimum
deposit: $0

Interactive Brokers is one of the world’s leading futures brokers. They offer direct market access to a range of securities. The broker offers excellent platform stability, huge range of markets, and solid customer support.

Choosing from the best CFD brokers in India

If you are new to trading Contract for differences, take a look at our wide range of free trading resources to help you get started.

When it comes to choosing from the best CFD brokers in India, it is important to ask yourself some key questions before you go ahead and fund an account. We suggest that you start with the basics.

  • Do you need Educational tools to support your learning?
  • Are you able to check out the platform before you deposit funds using a demo account?
  • How regularly are you expecting to trade and what length of time will these transactions be open for? What are the costs involved to trade or hold positions overnight?
  • Does your broker offer access to the range of markets you’ll need?
  • Is it important for you to trade directly with the market through Direct Market Access or DMA? Alternatively, are you happy to trade on pricing provided by your broker?
  • Is your broker regulated by a respected tier one global authority such as the FCA, SEC, ASIC, BaFIN or similar?

Remember, Contracts for Differences are leveraged products which means any trades you make are magnified, whether they are winning trades, or losing trades. It doesn’t matter if you trade with one of the best CFD brokers in India, you are very likely to lose money if your understanding of the product isn’t at the level it needs to be. It is important that you have a trading strategy in place and that you understand leverage before you begin to trade with real money.

The majority of CFD brokers offer demo accounts, providing traders with the chance to test out their platform before they commit real money.

We strongly suggest that you give your chosen platform a test drive before you begin trading for real.


Opening an Islamic account with a CFD broker in India

For Muslims that wish to trade with one of the best CFD brokers in India, an Islamic account that adheres to Shariah principles may be a great starting point. These Islamic accounts, also known as swap-free accounts, are halal trading accounts in which interest is not accumulated, collected or paid. These accounts do not make use of futures and forward contracts. All transactions (including the transaction cost) take place without any delay.

We have written a short guide on whether trading is Halal or Haram which will help you to decide if trading is right for you. We have a small selection of regulated brokers within the guide that offer permissable accounts.

Is CFD trading legal in india?

At the time of writing, CFD trading is not explicitly regulated in India. The legality and regulatory status of CFD trading can vary and may depend on the specific financial instrument and underlying asset involved.

CFDs are considered to be derivatives and their legality and regulation often fall under securities or financial market regulations in different countries. In India, the regulatory environment for derivatives trading, including CFDs, is overseen by the Securities and Exchange Board of India (SEBI). SEBI regulates derivative instruments traded on recognized stock exchanges like NSE (National Stock Exchange) and BSE (Bombay Stock Exchange). However, CFDs are typically traded over-the-counter (OTC) and not on these exchanges.

Currently, the regulatory status of CFD trading in India is not clear-cut. Here at The Armchair Trader, we would suggest you consult with a qualified financial advisor or legal expert familiar with Indian financial regulations for the most up-to-date and accurate information. Additionally, regulations and laws can change over time, so it’s important to stay informed about any updates or developments in this area.

Choosing a CFD broker in India that is regulated by a tier one regulator, like the FCA, SEC, BaFin or ASIC, will ensure that your money is protected and firms are held to the highest possible standards of service.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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