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Top 5 picks for best international online brokers in India in 2023:
- Interactive Brokers is the best international online brokers in India in 2023. - Low trading fees. Wide range of products. Many great research tools.
- Saxo Bank - Great trading platform. Outstanding research. Broad product portfolio.
- Capital.com - Low forex CFD fees and commission-free real stocks. Great account opening experience. Excellent email and chat support.
- Alpaca Trading - Great API trading service. Free stock & ETF trading. Fantastic charting tools.
- TradeStation - Great web and mobile trading platform. Low trading fees. High-quality research and education tools.
How did we select the best international online brokers in India in 2023?
- We checked whether the broker is regulated by a trusted regulator,
- Compared fees (including spreads, withdrawal fees, commissions),
- We checked and compared every aspect of their services,
- Opened an account and tested the platform (charting, features, usability) with real money.
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology.
Now let's jump straight to the results.
Best international online brokers in India in 2023
Comparison of international online brokers in India
While many international online trading brokers catering to clients in India offer an excellent service, the ones in our toplist go the extra mile. These international online trading platforms offer a broad range of markets and asset classes and are suitable for beginners and experienced traders alike.
| Interactive Brokers | Saxo Bank | Capital.com | Alpaca Trading | TradeStation | |
|---|---|---|---|---|---|
| Overall score | 4.9 stars | 4.8 stars | 4.6 stars | 4.7 stars | 4.7 stars |
| Minimum deposit | $0 | $2,000 | $20 | $0 | $0 |
| Time to open account | 1-3 days | 1 day | 1 day | 1 day | 1 day |
Popularity of the best online brokers in India
Interested in what others think? Here's how many of our users chose these best online brokers over the last 6 months.
Best international online brokers in India in 2023
Fee comparison at the best online brokers in India
In most cases the key broker selection criteria is how much you have to pay for a trade in spreads, commission and other trading costs, so we collected the most important fees for you in the table below.
| Interactive Brokers | Saxo Bank | Capital.com | Alpaca Trading | TradeStation | |
|---|---|---|---|---|---|
| US stock | $1.0 | $10.0 | - | $0.0 | $0.0 |
| UK stock | $3.4 | $9.0 | - | - | - |
| EURUSD spread | 0.1 | 0.7 | 0.6 | - | - |
| US stock index options | $6.5 | $30.0 | - | - | $6.0 |
| Mutual fund | $15.0 | $0.0 | - | - | $15.0 |
| S&P 500 index CFD fee | $3.3 | $3.1 | $2.5 | - | - |
Best international online brokers in India in 2023
Other fees at the best online brokers in India
Other or non-trading fees are charges not directly related to a given trade and typically include the account maintenance fee, deposit/withdrawal fees, and the inactivity fee.
| Interactive Brokers | Saxo Bank | Capital.com | Alpaca Trading | TradeStation | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | No | Yes | No | No | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
| Deposit fee | $0 | $0 | $0 | $0 | $0 |
If you are unsure how brokerage fees work, check out this article on the various fees, charges and costs.
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Best international online brokers in India in 2023
Financial market regulation in India
Online brokers and trading platforms that serve Indian citizens are regulated, licensed and overseen by the Securities and Exchange Board of India, or SEBI, the country’s financial markets regulator. The SEBI and the Reserve Bank of India (RBI) are responsible for issuing licenses to these brokers and ensuring that their activities comply with existing regulations.
SEBI has implemented several regulations to ensure that all participants in the financial markets are protected and the markets are free from manipulation. Despite these efforts, unregulated and illegal platforms that make promises of high or exorbitant profits are quite widespread in India.
As a general rule, if something sounds too good to be true, it most often is. Do not expect to become a millionaire overnight by trading stocks or forex or CFDs. You may easily end up losing all your invested money if you start working with an unregulated or scam broker.
All the brokers featured in our top list are registered with at least one top-tier regulator and are licensed to operate in India.
Best international online brokers in India in 2023
Taxation of stock trading in India
Capital gains realized through stock trading are subject to income tax in India. The Indian tax office makes a distinction between:
- Short-term capital gains and
- Long-term capital gains.
Short-term capital gains are realized when an Indian trader sells the shares within 12 months of purchasing them and the sales price is higher than the purchase price. The income tax rate applicable to short-term capital gains is 15%.
If the trader sells the stocks after 12 months of purchase and makes a capital gain of more than Rs.1 lakh on the sale, the profit will attract a long-term capital gains tax of 10%. The tax applies to shares traded outside of India as well.
If a trader buys/sells shares within the same trading day (i.e. engages in intraday trading), the gains will be treated as business income and taxed according to the income tax slab of the trader.
And now, let's see the top international online brokers for residents in India in 2023 one by one, starting with the winner, Interactive Brokers.
#1 Best international online broker in India in 2022
Interactive Brokers
Recommended for traders looking for broad market access and a professional trading environment
| Interactive Brokers snapshot | |
|---|---|
| Minimum deposit | $0 |
| Fees class | Low |
| Deposit method | Bank transfer |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Time to open account | 1-3 days |
| Inactivity fee | No |
| Read review | For a detailed analysis of Interactive Brokers services, check out our review for 2023 |
#2 Best international online broker in India in 2022
Saxo Bank
Recommended for investors and traders looking for a great trading platform and solid research
| Saxo Bank snapshot | |
|---|---|
| Minimum deposit | $2,000 |
| Fees class | Average |
| Deposit method | Bank transfer, Credit/debit cards |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Time to open account | 1 day |
| Inactivity fee | Yes |
| Read review | For a detailed analysis of Saxo Bank services, check out our review for 2023 |
#3 Best international online broker in India in 2022
Capital.com
Recommended for investors and cfd traders looking for a great trading platform and excellent customer service
| Capital.com snapshot | |
|---|---|
| Minimum deposit | $20 |
| Fees class | Low |
| Deposit method | Bank transfer, Credit/debit cards, Apple Pay, PayPal |
| Withdrawal method | Bank transfer, Credit/debit cards, Apple Pay, PayPal |
| Withdrawal fee | $0 |
| Time to open account | 1 day |
| Inactivity fee | No |
| Read review | For a detailed analysis of Capital.com services, check out our review for 2023 |
#4 Best international online broker in India in 2022
Alpaca Trading
Recommended for traders interested in algorithmic stock trading
| Alpaca Trading snapshot | |
|---|---|
| Minimum deposit | $0 |
| Fees class | Low |
| Deposit method | Bank transfer |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Time to open account | 1 day |
| Inactivity fee | No |
| Read review | For a detailed analysis of Alpaca Trading services, check out our review for 2023 |
#5 Best international online broker in India in 2022
TradeStation
Recommended for traders focusing on us markets and buy-and-hold investing
| TradeStation snapshot | |
|---|---|
| Minimum deposit | $0 |
| Fees class | Low |
| Deposit method | Bank transfer |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Time to open account | 1 day |
| Inactivity fee | Yes |
| Read review | For a detailed analysis of TradeStation services, check out our review for 2023 |
Best international online brokers in India in 2023
FAQ
What is the minimum deposit needed to start trading in India?
There is no set minimum deposit for trading stocks, bonds, forex or CFD in India. but pro traders recommend starting with at least $100.
Is Zerodha an expensive broker?
Zerodha, one of the biggest discount brokers in India, charges low fees and offers free equity delivery trading. The broker is a good choice for beginner investors as well. The account opening is slow and not fully digital and the product portfolio covers only the Indian market. As a Zerodha client, you will not be covered by investor protection.
Which are the best online brokers in India?
The top online brokers in India in 2023 are:
- Interactive Brokers - Low trading fees. Wide range of products. Many great research tools.
- Saxo Bank - Great trading platform. Outstanding research. Broad product portfolio.
- Capital.com - Low forex CFD fees and commission-free real stocks. Great account opening experience. Excellent email and chat support.
- Alpaca Trading - Great API trading service. Free stock & ETF trading. Fantastic charting tools.
- TradeStation - Great web and mobile trading platform. Low trading fees. High-quality research and education tools.
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