Any good broker who has support in India?

Broker Discussion Forex Brokers
#1

Hi,

I am based in India and want to open a trading account.
Currently I have an account with Iforex but there are some problems:

High spreads
No Metatrader trading platform
Very bad customer service
The trading platform they have (fxnet trader) is really buggy. Crashes every now and then.

Can anyone suggest me a good broker who as low spreads/low deposit and withdrawal fees/telephone support here in India/metatrader support/and overall a good broker.

I know alpari has an office in India but their deposit/withdrawal rates are too much.

#2

as far as i know alpari is the only one …

technically indian citizens are not allowed to trade retail forex…

yeah the alpari wire transfer rates are high … so its better you shift to interbankfx or fxpro and transfer through cc or paypal…

#3

Why would you say indian citizens are not allowed to trade retail forex?

#4

i read about that in some forums … According to some reserve bank of india regulations indian citizens are not permitted to trade forex… i dont know the reason … maybe something to do with money laundering …

and apparently indian banks wont transfer the money to a forex broker… and alpari india actually advises the clients to transfer the amonut stating " foreign investemnt" …

dont quote me on any of this … i am simply repeating what i’ve read this in some other forums…

#5

yeah interbank fx seems to be good.
also here in india since march paypal services have been suspended due to some RBI (Reserve bank of India) thing. Thats a bad thing. So I will have to use bank wire transfer.

Also here I dont think there is any problem in trading forex. (As far my knowledge.)

Does anyone know if its illegal here to trade forex?

#6

its just a technicality i guess… anyways as long as you are not making big bucks … i dont think the RBI will mind…

#7

I checked out interbank fx, its good.
had one question though,
they are offering that global interbank fx debit card (at an extra cost) for deposit/withdrawal into my interbank fx trading account.

So is it wise to get that card here in India for my deposits/withdrawal? or should I just stick to bank wire transfer for deposit/withdrawal?

As I checked out deposit/withdrawal fees using the card they are providing is cheaper than usual bank wire transfer.

Any help!

#10

its a sensitive area however for those who are interested in trading solutions

#11

I suggest you using a US-based broker, with another of way of money transfer such as paypal or other systems.

I use WSBrokers | Forex Trading | Online Currency Trading & they support moneybookers with minimum fees of transfer service. check them out

#12

I am not from India, but I see Indian phone number on my broker website.
Forex-Metal.com, on Contact Page: India: +91-989-197-6819

#14

Hi,

we have physical presence in India, with MT4, withdraw ur deposit within 24hrs, call me to know more at 9738897375.

Thanks,

Mohamed.

I am based in India and want to open a trading account.
Currently I have an account with Iforex but there are some problems:

High spreads
No Metatrader trading platform
Very bad customer service
The trading platform they have (fxnet trader) is really buggy. Crashes every now and then.

Can anyone suggest me a good broker who as low spreads/low deposit and withdrawal fees/telephone support here in India/metatrader support/and overall a good broker.

I know alpari has an office in India but their deposit/withdrawal rates are too much.[/QUOTE]

#15

[U]Bank wires[/U]

Alpari (UK) Limited does not charge anything for depositing and withdrawing funds. Your bank will charge you for carrying out a bank transfer (banks rates may vary).

[B]Deposits[/B], our bank Barclays will charge GBP6 for receiving payments and this will be deducted from the amount. (If Alpari are charged the fee for receiving your payment we will debit your account for the charge).

Alpari (UK) will absorb this fee for deposit amounts over USD3,000. For deposit amounts under USD3,000 the GBP6 will be deducted from the wire amount we receive into our account or be deducted from your account if the charge is passed onto Alpari. The narration for this fee on your MetaTrader or Alpari Pro account will read inward wire fee. Please note that Alpari daily conversion rates may vary.

[B]Withdrawals[/B], our bank Barclays will charge for some withdrawals, please refer to our Comparison table for full details.

[U]Debit card payments[/U]

Alpari (UK) will not charge a fee for any transaction amount with a debit card.

[U]Credit card payments[/U]

Alpari will pass on our bank charge of 1.75% for credit card transactions under USD3000 (or currency equivalent).

Alex

Alexander Chadwick
Alpari (UK) Representative

#16

Hey gudimy, thanks a lot, I study hard on forex broker , because I looking for this kind of broker which support credit card and and money bookers. After more searching I got a site called Forex-metal.com, even monebookers support india and also support credit card. Now I think that forex-metal.com is good broker for indian people . Anyone can try there.

#18

Dear members,

First of all I would like to thank you for reading my thread and I would be extremely happy if we could work together.

I am a representative of Swiss Forex Bank located in Switzerland and I deal with Central Asian and South-East Asian Regions. My job is to develop and locate the client base in the mentioned regions.

Currently I am looking for Business Finders such as Introducing Brokers and Asset Managers in India. I will leave my contact details and once you contact me, I will disclose all the information regarding the partnership. Please visit the website of mig bank

My personal email is nigarchalabizada(at)yahoo.com
Please feel free to contact me and I will assist you as fast as I can.

Thanks a lot,

Nigar

#19

I can offer you FxGlory .
a good broker It has all properties that you want .
Indian supporter in online chat .
low spread
no commission
minimum deposit of 1$
good promotion
so you can visit the site maybe you decide to choose it

#20

Hello,

Thanks for letting us know. I would really like to assist you in this matter and you can contact me regarding your information at n.chalabizada(at)migbank.com and nigarchalabizada(at)yahoo.com
First of all, MIG Bank is one of the fewest banks in the world that obtained a banking licence as a brokerage firm. In addition, being a Swiss bank grants our customers security, protection from fraud and all the other mismatches that may occur. We have 17 liquidity providers and we are the largest FX Bank in Switzerland. Our research team is the strongest across the online banks in the world. In addition, we send technical reports to our clients everyday.

Please feel free to contact us and I will be more than happy to assist you.

Thanks a lot,

Nigar

#22

You can visit our webpage for more information. You can see that our bank is a long-term and very professional.

Nigar

#24

[/QUOTE]

what is your physical presence in India called.

#25

Just check armadamarkets, very positive commpany for you. :slight_smile:

#26

I 've had trading experience with IFC Markets and they really got many advantages. For example, besides MetaTrader 4 trading platform they offer NetTradeX a unique trading platform that gives you the opportunity of quick withdrawal directly from the trading platform. They offer a lot of unique instruments like gold quoted against Silver and so on. So you can just check it out.
Oh and I am very impressed with their support.They quickly response to all my questions on multiple occasions. You can try their demo accounts, it is absolutely free.