As outlined above, the Securities Exchange Board of India has strict regulatory rules making it challenging to buy and sell through non-authorized methods. To spot fake forex trading platforms in India, check the footer of a firm’s website. A genuine broker will clearly have an Indian forex broker license number. To ensure the legality and safety of your trades, it is important to choose a broker authorised and regulated by the Securities and Exchange Board of India (SEBI) and recognised by the Reserve Bank of India (RBI). It&8217;s worth noting that individuals cannot transfer money overseas for forex trading, and all forex transactions must be settled in Indian rupees. Finding the best Indian online Forex trading brokers is not an easy thing to do. The Forex trading market in the country is very heavily regulated, which makes it a bit confusing for beginner traders to decide which broker to trust, or what to focus on while looking for the best FX brokers.
