Forex India Brokers Ratings

Forex  Brokers  Ratings in India

The other day while navigating in Internet, going through various Forex India brokers ratings, I encountered with website www.forex-ratings-india.com The rating of brokers have been formed from votes of all sorts of traders, both beginners and experienced. According to those votes, the brokers have been ranged in the following sequence, forming Top 5 Forex brokers in India:

1. IFC Markets
2. NordFX
3. Swissquote
4. EXNESS
5. Admiral Markets

Naturally I don’t have experience with all these brokerages. I have heard of NordFx. They say it is one of the best brokers in India: fast execution, low spreads, kind attitude towards clients.
With IFC Markets I have an experience of almost one year. Overall I am satisfied with this company. Actually I had some technical problems with its NetTradeX trading platform at the initial period of trading. I got annoyed and changed the platform, starting to use the other one Metatrader 4. However after some time I came back again to NetTradeX. It is gradually being improved, suggesting more and more innovational tools. What I mostly like about this platform is that it contains a set of all sorts of orders or their combination: Market, Limit, Stop, Pending, Linked, Activated, Trailing Stop mode, etc. One more thing: it allows to make a withdrawal request directly from the platform. In general I think that this broker has a perspective to become one of the best and unique brokers in India in the future.
With Admiral Markets my experience is limited with just a couple of trading transactions. Then I changed it. No, no disappointment. The reason is that one of my friends recommended me another one, so I continued my Forex trading with it. With the other two companies I am coming across for the first time.
Let me see what kind of brokers they are.
Exness: I see that you can start trading having 100USD. Not bad. Oh, what a high leverage. You see, the maximum leverage ratio the Exness provides is 1:2000. Yes, really unique offer. Three account types: Mini, Classic, ECN. Almost the same we see with IFC Markets. Two account types for NetTradeX: Beginner and Standard, and two types for Metatrader 4: Micro and Standard. I personally think that it should be a must for these two companies to add some new account types. Let’s see what the other three suggest. Now I’ll check NordFx website: Integral, Micro, Standard, Premium, Standard-MT5, MT-ECN, CQG, Welcome account, Zulu trade. Yes, quite many account types. I remember Admiral Markets account types, see, let’s count: Admiral Standard, Admiral Pro., Admiral.CFD, Admiral Gold, Admiral Currensee, Admiral. ZuluTrade. Six account types.  As for Swissquote, I couldn’t find the Account types section, the same with Live Chat so as to get the necessary answers to my questions. Let’s pass this one. Nothing serious I can see here.

My financial means being limited, I chose IFC Markets. One of the main reasons for my choice. Through this company I am able to make a deposit with possessing only 1USD. However funny it may sound, I should confess, people. When I first started to trade in this company, my initial deposit was 1USD. No significant profit with this amount, it goes without saying, however you may try just for practice. The leverage ratio is also quite high: 1:400. NordFX: start trading with $5. Oh, what I see. Welcome account with $0 deposit. Something like demo account, only here you can make a profit. Maximum leverage here is up to 1:500. With Admiral Markets you should have larger financial means: initial deposit is $1000, maximum leverage ratio 1:500.

One more very significant thing. Let’s check spreads, fixed or floating they are. It is very significant for Forex in India. Admiral Markets – floating, Exness – again floating, NordFx – can be both fixed and floating depending on the account type, IFC Markets – fixed. Actually fixed spreads provide more transparent Forex trading.

I also made a little investigation concerning the trading instruments that each brokerage provides. Normally all of them have currency pairs in their list, some more, others less. Among common metals are gold and silver, IFC Markets provides palladium and platinum as well. The metals are as usual quoted against USD or EUR. Recently IFC Markets has deviated from that rule, forming a new group, called “Golden Instruments”. This new group includes unique products, with gold as the base asset, quoted against silver, contracts for oil and contracts for S&P 500 stock index (XAUXAG, XAUOIL, XAUSnP). Other trading instruments include CFDs on Commodities, on Indices, on Stocks, on Futures, on Equities and so on.
Forex in India is really becoming more and more popular in spite of so many setbacks established by Reserve Banks. However these restrictions do not serve as an obstacle for those who thrive to trade in Forex market. Electronic payment methods make your trading safer and more secure. Almost all companies provide electronic payment methods. For example NordFx suggests the following 4 electronic payment systems: Skrill, Alertpay, Liberty Reserve and Webmoney. IFC Markets has only two e-payment systems: Liberty Reserve and Webmoney. Electronic payment systems of Admiral Markets are Skrill, Envoy and WireCard. As for Exness it has a wide range of e-payment systems.

See:

• Liberty Reserve

• Webmoney

• Skrill (Moneybookers)

• Ukash

• Payweb

• Neteller

• Filspay etc.

By the way, the design of Exness captured my attention. Very nice combination of black and yellow, besides here I feel a pleasant atmosphere of New Year. I don’t like neither the menu nor the colours of NordFx. The menu of Admiral Markets is quite well-organised, in my opinion. In spite of prevailing white colour, the design is done with taste. The combination of orange and green is not so interesting in IFC Markets, though the menu is quite understandable.

This was one of numerous Forex India brokers ratings. I think that in Top 5 list some brokers might have been substituted with other more worthy ones. However, this is what has been formed by traders’ votes.