1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Any Legit Indian Broker ?

Discussion in 'Forex Company Comparisons' started by Meetu, Sep 1, 2012.

  1. Meetu

    Meetu Recruit

    Joined:
    Sep 1, 2012
    Messages:
    4
    Likes Received:
    0
    Hello,
    I am Meetu, and i joined this forum as i know there are lots of experienced traders and i need advice about choosing some Indian Broker for my trading needs from where I can get support within India, preferably if there is some office i can visit..
    Can anyone suggest me India Based Legit Broker ?

    I gathered information online, and i found these brokers offering support in India :
    www.Alpari.in
    Forex market, forex quotes (rates), forex exchange rates
    fxcm.com (They are all time good in providing support)

    I received call from a representative from weltrade.in and we talked alot about trading, but there is no Paypal as an deposit option..whereas I can deposit with Paypal if i open account with alpari :-\
    I am totally confused,
    Please share your views..

    :)
     
  2. Meetu

    Meetu Recruit

    Joined:
    Sep 1, 2012
    Messages:
    4
    Likes Received:
    0
  3. Krachuk

    Krachuk Private, 1st Class

    Joined:
    Aug 2, 2012
    Messages:
    50
    Likes Received:
    0
    You may want to check this link: Forex Ratings India - Indian Forex Broker Rating. Top Rated Indian Forex Brokers
    Invariably, most of the Forex Brokers have their offices all over the place.

    There is nothing like a "legit Indian Broker", as all who are Brokers are definitely "legit" (as you say) or else they can't be in the trade.
    However, if you are referring to the practice of ethics then that is purely subjective. FPA forums are excellent to review some of the Brokers as and when it is brought to the notice of its members. Why not do your research and open a thread to seek out member reviews ?
     
  4. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,685
    Likes Received:
    2,236
  5. prasanna316

    prasanna316 Private

    Joined:
    Oct 18, 2011
    Messages:
    19
    Likes Received:
    0
    Dear Meetu

    Your name provokes me to say ME TOO. Don't mind, as some years back I was in your situation, hence ME TOO.

    There are certain things you must know.

    1) Trading forex in India is illegal. You may land in jail.
    2) Alpari and others who have offices in India and registered with SEBI, offers only these 4 pairs, under the rule of RBI, they are EURINR,GBPINR,USDINR,JPYINR. These pairs do not have liquidity, hence scam prone as Indian stock market.
    3) None of the broker provide Mt4 Trading platform to Indian customers

    So accordingly you decide.

    Thanks
    Prasanna
     

Share This Page