Editorial Note: This content has been independently collected by the Forbes Advisor team and is offered on a non-advised basis. This content is not part of the comparison service provided by RunPath Regulatory Services. Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations.
Forex trading involves the purchase and sale of currencies in the international foreign exchange marketplace. This market stands as the world’s biggest and most fluid financial arena, boasting an average daily volume exceeding $6 trillion. Individuals engage in forex trading for several reasons, including hedging, speculating, arbitraging, or diversifying.
To help you choose the best forex trading app, we have compiled a list of the popular apps based on various criteria, such as features, performance, fees, customer support, and reputation. Here are the top six apps that offer low charges for subscribers:
{{ showMobileIntroSection ? 'Read Less': 'Read More' }}
Featured Partners
1
BlackBull Markets
Multiple Award-Winning Broker
Listed On Deloitte Fast 50 index, 2022 Best Global FX Broker – ForexExpo Dubai October 2022 & more
Best-In-Class for Offering of Investments
Trade 26,000+ assets with no minimum deposit
Customer Support
24/7 dedicated support & easy to sign up
On BlackBull Market’s secure website
2
Aditya Birla Demat Account
Charges
Zero account opening charges
Features
Invest in Stocks, Mutual Fund, IPO and Bonds
Benefits
Trusted ABML analysts to guide your trading decisions, Get expert stock recommendations and Market Screeners
On Aditya Birla’s secure website
Best Forex Trading App in India
- Zerodha Kite
- Upstox
- Angel Broking
- Groww
- ICICI Direct
- HDFC Securities
FEATURED PARTNER OFFER
Zerodha Kite
4.0
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.
Charges for forex trade
INR 20 or 0.03% per executed order on cross currency trades.
Subscribers
Over 5 million active clients
Best feature
Real-time market data, advanced charting tools
Charges for forex trade
INR 20 or 0.03% per executed order on cross currency trades.
Subscribers
Over 5 million active clients
Best feature
Real-time market data, advanced charting tools
Why We Picked It
Zerodha provides advanced charts, real-time market data, etc. It is designed to be user-friendly, featuring a simple and intuitive interface that facilitates easy navigation and trade execution. Zerodha Kite is equipped with a range of features, including technical analysis tools, real-time news updates, and customizable watchlists, to assist users in making informed trading decisions.
If you are new to forex trading, you may want to consider starting with a demo account to get a feel for the market and practice your trading skills without risking real money. Zerodha Kite offers a demo account that you can use to practice trading in a simulated environment.
However, it is essential to note that, despite its positive attributes, Zerodha Kite has encountered challenges. Some users have raised concerns regarding customer support responsiveness, platform stability, and order execution efficiency.
FEATURED PARTNER OFFER
Upstox
4.0
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.
Charges for forex trade
INR 20 per executed order or 0.05% (whichever is lower). INR 20 per executed order
Subscribers
Over 5 million active clients
Best feature
Real-time market data, advanced charting tools, and a range of order types
Charges for forex trade
INR 20 per executed order or 0.05% (whichever is lower). INR 20 per executed order
Subscribers
Over 5 million active clients
Best feature
Real-time market data, advanced charting tools, and a range of order types
Why We Picked It
Upstox is another well-known platform for forex trading, offering zero brokerage fees, a user-friendly interface, and customizable options. It integrates with various third-party apps and APIs that provide additional services. However, some users have raised concerns about customer service, platform glitches, and margin requirements.
Upstox’s forex trading functionality allows you to trade and invest in currency pairs across multiple exchanges. The platform is accessible through your web browser, mobile app, or desktop application. Upstox’s forex trading feature also provides real-time market data, level 3 data, historical data, news, and analysis. Additionally, you can use Upstox’s forex trading to hedge your currency risk, diversify your portfolio, or speculate on market movements.
FEATURED PARTNER OFFER
Groww
3.6
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.
Charges for forex trade
INR 20 per executed order
Subscribers for forex
6.6 million active users
Best feature
Real-time market data, historical data, news, and analysis
Charges for forex trade
INR 20 per executed order
Subscribers for forex
6.6 million active users
Best feature
Real-time market data, historical data, news, and analysis
Why We Picked It
Groww stands as a prominent investment and trading platform in India, offering online trading services for both equity and forex investments. With Groww’s forex trading feature, users can engage in trading and investment activities across various currency pairs on multiple exchanges. This functionality is accessible through a web browser, mobile app, or desktop application, providing convenience and flexibility. In addition to facilitating trades, Groww’s forex trading feature equips users with essential tools such as real-time market data, historical data, news, and analysis.
Before initiating trades, users are encouraged to educate themselves on the basics of forex trading and develop a well-thought-out trading strategy. This strategy should consider individual risk tolerance, investment goals, and other relevant factors to ensure a prudent and informed approach to forex trading.
FEATURED PARTNER OFFER
Angel Broking
3.5
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.
Charges for forex trade
INR 20 per order or 0.25% for futures and options
Subscribers for forex
Over 5 million active clients
Best feature
Alerts, baskets, GTT orders
Charges for forex trade
INR 20 per order or 0.25% for futures and options
Subscribers for forex
Over 5 million active clients
Best feature
Alerts, baskets, GTT orders
Why We Picked It
Angel Broking is a viable platform for forex trading, featuring zero brokerage fees, advanced charting, and alerts. Its integration with various third-party apps and APIs enhances the range of services available. Despite its merits, some users have reported issues with order execution, and the withdrawal process.
Angel Broking offers forex trading services through its mobile app. This service enables users to trade and invest in currency pairs across multiple exchanges. Angel Broking’s forex trading feature provides real-time market data, level 3 data, historical data, news, and analysis. The platform supports various purposes, allowing users to hedge currency risk, diversify portfolios, or speculate on market movements.
FEATURED PARTNER OFFER
ICICI Direct
3.0
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.
Charges for forex trade
INR 20 per order for forex trading
Subscribers
Over 5 million active clients
Best feature
Real-time market data, advanced charting tools
Charges for forex trade
INR 20 per order for forex trading
Subscribers
Over 5 million active clients
Best feature
Real-time market data, advanced charting tools
Why We Picked It
ICICI Direct is a reliable platform for forex trading, offering zero brokerage fees, a modern interface, and GTT orders. It seamlessly integrates with various third-party apps and APIs, providing users with additional services. However, some users have encountered issues with platform speed, customer support.
ICICI Direct’s forex trading feature enables you to trade and invest in currency pairs across multiple exchanges. The platform is accessible through your web browser, mobile app, or desktop application. ICICI Direct’s forex trading also furnishes real-time market data, level 3 data, historical data, news, and analysis. Additionally, you can use ICICI Direct’s forex trading to hedge your currency risk, diversify your portfolio, or speculate on market movements.
FEATURED PARTNER OFFER
HDFC Securities
2.5
Our ratings take into account a product's cost, features, ease of use, customer service and other category-specific attributes. All ratings are determined solely by our editorial team.
Charges for forex trade
Up to USD 500 or equivalent: INR 500 flat, above that INR 1000 flat
Subscribers
Over 1.5 million active users
Best feature
Multi currency forex card that can be loaded with up to 22 currencies
Charges for forex trade
Up to USD 500 or equivalent: INR 500 flat, above that INR 1000 flat
Subscribers
Over 1.5 million active users
Best feature
Multi currency forex card that can be loaded with up to 22 currencies
Why We Picked It
HDFC Securities is a leading financial services company providing online trading platforms for equity and forex investments, offering access to over 20 global exchanges. Specializing in currency derivatives, they facilitate the exchange of currencies at predetermined rates for future dates, making it suitable for those managing foreign exchange rate risks.
HDFC Securities’ currency derivatives present opportunities for various strategies, including hedging against foreign exchange exposures, capitalizing on short-term market fluctuations, and exploiting arbitrage possibilities across different markets and exchanges.
Within their currency derivatives suite, HDFC Securities offers currency options and currency futures. Currency options grant the right to trade a specific currency at preset rates or dates, while currency futures involve contracts for trading specific quantities of currency pairs at predetermined rates and dates.
Complementing these services, HDFC Securities provides real-time market data, level 3 data, historical data, news, and analysis.
Featured Partners
1
BlackBull Markets
Multiple Award-Winning Broker
Listed On Deloitte Fast 50 index, 2022 Best Global FX Broker – ForexExpo Dubai October 2022 & more
Best-In-Class for Offering of Investments
Trade 26,000+ assets with no minimum deposit
Customer Support
24/7 dedicated support & easy to sign up
On BlackBull Market’s secure website
2
Aditya Birla Demat Account
Charges
Zero account opening charges
Features
Invest in Stocks, Mutual Fund, IPO and Bonds
Benefits
Trusted ABML analysts to guide your trading decisions, Get expert stock recommendations and Market Screeners
On Aditya Birla’s secure website
Comparison of the Best Forex Trading Apps
| Application | Company – Logo | Forbes Advisor India Rating | Forbes Advisor Rating | Charges for forex trade | Subscribers for forex | Best feature | Learn More CTA text | Learn more CTA below text | Learn More |
|---|---|---|---|---|---|---|---|---|---|
| Zerodha Kite |  | 4.0 |  | INR 20 or 0.03% per executed order on cross currency trades. | Over 5 million active clients | Real-time market data, advanced charting tools | View More | ||
| Upstox |  | 4.0 |  | INR 20 per executed order or 0.05% (whichever is lower). INR 20 per executed order | Over 5 million active clients | Real-time market data, advanced charting tools, and a range of order types | View More | ||
| Groww |  | 3.6 |  | INR 20 per executed order | 6.6 million active users | Real-time market data, historical data, news, and analysis | View More | ||
| Angel Broking |  | 3.5 | | INR 20 per order or 0.25% for futures and options | Over 5 million active clients | Alerts, baskets, GTT orders | View More | ||
| ICICI Direct |  | 3.0 |  | INR 20 per order for forex trading | Over 5 million active clients | Real-time market data, advanced charting tools | View More | ||
| HDFC Securities |  | 2.5 |  | Up to USD 500 or equivalent: INR 500 flat, above that INR 1000 flat | Over 1.5 million active users | Multi currency forex card that can be loaded with up to 22 currencies | View More |
Methodology: How We Choose Best Forex Trading App
Selecting the best company for forex trading involves considering various factors to ensure a well-rounded and reliable trading experience. Find the methodology Forbes Advisor India uses to evaluate and choose the right forex trading company:
Regulation and Compliance: We ensure the company is regulated by financial authorities. Regulatory compliance helps ensure a level of security for traders.
Fee Structure: Forbes Advisor evaluates the fee structure, including spreads, commissions, and any hidden charges. We look for transparency in pricing to avoid unexpected costs.
Customer Service: We assess the quality and responsiveness of customer service. A reliable customer support team is crucial for addressing queries, issues, or emergencies.
Trading Platform: Our team evaluates the trading platform’s features, user interface, and reliability. A user-friendly platform with advanced tools can enhance the trading experience.
Asset Coverage: We check the range of currency pairs offered for trading. A diverse selection allows for greater flexibility in trading strategies.
Educational Resources: Forbes Advisor looks for companies that provide educational resources such as webinars, tutorials, and market analysis. This can benefit both novice and experienced traders.
Research and Analysis Tools: We assess the availability and quality of research and analysis tools. Real-time market data, charts, and technical analysis tools can aid in making informed decisions.
Security Measures: Our team ensures the company implements robust security measures to safeguard user data and transactions. Encryption and secure login methods are essential.
Reviews and Reputation: We Research customer reviews and the company’s reputation in the industry. Feedback from other traders can provide insights into the overall experience.
Additional Services: Our company considers additional services offered, such as automated trading, copy trading, or access to other financial instruments beyond forex.
Demo Account: We check if the company provides a demo account. This allows users to practice trading in a risk-free environment and familiarize themselves with the platform.
Withdrawal Process: Our team understands the withdrawal process and associated fees. A smooth and timely withdrawal process is crucial for traders.
Also Read: Best Trading Apps
Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.
{{ showReadFullArticleContent ? 'Hide the article': 'Read the full article'}}
