The best and legal forex trading apps in India let you perform simple forex trading using your smartphone or tablet at your comfort.
3 Legal Forex trading Apps in India
This is especially important when the market for foreign exchange is a key element in everyday business. It’s an open and decentralized marketplace that allows businesses and financial institutions to trade forex.
Check out the top 3 Legal Forex Trading Apps in India below:
Zerodha is well-known for its technical expertise, which makes it the top choice in the forex trading market. The company has made huge investments in the development of innovative proprietary trading platforms, making sure that its clients are able to access top-quality equipment and services.
Widely regarded as the most trustworthy forex broker in India, the platform charges an affordable brokerage fee. Continuous improvement and innovations led to them becoming the fastest-growing fintech firm in India.
Zerodha, a leading financial services company, offers its customers three mobile apps that cater to various aspects of their trading and investment requirements.
- Zerodha Kite- Trading Anywhere
- Zerodha Varsity- Stock Market Education
- Zerodha Coin- Online Mutual Fund Investments
- The largest stockbroker in terms of customers who are active in terms of market volume, active clients, and new clients acquired.
- A broker that is among the most reliable, secure, and trusted brokers.
- Provides the most sophisticated trade tools online.
- Zero brokerage fee on Equity Delivery and Mutual Funds.
- The proportion between complainants and customers can be ranked amongst the lowest on the market.
- It is a zero-debt business.
- It doesn’t provide Margin Funding.
- It does not keep the securities of clients in the account pooled.
- It doesn’t offer proprietary trading with funds from clients.
Licensed through the SEBI, Sharekhan’s mobile-based trading platform is extremely easy to use and has all the necessary features. Here, you will get reliable research options necessary to make trading choices. Being an extremely successful online trading platform, its customer support service provides fast and practical solutions. It’s a great choice for beginners to invest. However, Sharekhan gives you access only to Indian markets.
With its franchise chains located in all parts of India, Sharekhan witnessed tremendous growth in the past ten years. The platform provides trade execution facilities for the equity cash and derivatives segment for BSE and NSE commodities trading services available on MCX as well as NCDEX. Sharekhan also provides services for depository (demat account) and the option of investing in mutual funds and the IPO.
- Sharekhan has an international network of branches across the country. It is easy to locate a Sharekhan in your area.
- Sharekhan provides online and classroom training seminars, workshops, and other classes to investors.
- Sharekhan provides a variety of trading platforms to meet the needs of customers.
- Sharekhan does not charge fees for online Funds Transfer from bank accounts or Funds Pay-out to a bank account.
- They also accept fixed deposits as collateral to F&O trading.
- The brokerage fees are based on a particular percentage of a transaction. These charges can sometimes be quite expensive.
- They don’t offer Demat trading and Banking three-in-one accounts.
Motilal Oswal is one the most prominent financial services firms in India, offering an array of services and products for traders and investors. Established in 1987 by Motilal Oswal and Raamdeo Agrawal and headquartered in Mumbai, it is regulated by a variety of regulatory authorities in India, including SEBI.
Motilal Oswal trading app lets you trade multiple assets anytime, anywhere, using a tablet or a smartphone. The app includes all the necessary features needed by traders and investors. The app offers live quotes, advanced charts managing portfolios and monitoring, as well as an online fund transfer, which makes it the most unique investor application available in the marketplace.
In the most recent update, customers who have Demat-based accounts with Motilal Oswal can get free access to the exclusive investor community StoCoMo, which lets them connect, network, and get the answers they need from experts.
- Investors can buy and sell that aren’t listed on the market through the PMS services provided by Motilal Oswal.
- Free Equity Intraday Trading for Lifetime.
- Free expert research every day and calls for advice, as well as an Advisor who can help you save money.
- Access to the free and early entry into Investor Community – StoCoMo
- International markets might be subject to different regulations and jurisdictions.
- The minimum deposit required is INR 25 lakhs to open the PMS account
- Annual maintenance fees are charged for the demat account
Is there any official forex application?
There is no official application or website available. The reason is that the foreign exchange (forex) marketplace is decentralized, which means that there is no specific place or site for the market. The forex market comprises central banks and various financial institutions like dealers, brokers, banks, corporations, and brokers.
A lot of reliable forex brokers offer their mobile applications for forex trading. They offer a good number of options, including apps designed by in-house developers or by third-party developers. To stay clear of fraudulent forex transactions, you must find brokers and banks who are licensed to provide Forex trading and services in your country.
Forex Trading can be a complicated process to understand. Given the variety of options accessible to users who want to live-stream trading with mobile applications on their phones, it’s become a lot simpler to trade at the touch of a button. Try the above-mentioned best Legal forex trading apps in India surely!