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Best international online brokers in India in 2023

Interactive Brokers Logo
1st place
Interactive Brokers
Saxo Bank Logo
2nd place
Saxo Bank
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67% of retail CFD accounts lose money
Capital.com Logo
3rd place
Capital.com
Visit broker
84% of retail CFD accounts lose money

Top 5 picks for best international online brokers in India in 2023:


  1. Interactive Brokers is the best international online brokers in India in 2023. - Low trading fees. Wide range of products. Many great research tools.
  2. Saxo Bank - Great trading platform. Outstanding research. Broad product portfolio.
  3. Capital.com - Low forex CFD fees and commission-free real stocks. Great account opening experience. Excellent email and chat support.
  4. Alpaca Trading - Great API trading service. Free stock & ETF trading. Fantastic charting tools.
  5. 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.
Save hours of research!
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.

Best international online brokers in 2023
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.

Fees at the best international online brokers in March 2023
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.

Interactive Brokers Logo

#1 Best international online broker in India in 2022
Interactive Brokers

Recommended for traders looking for broad market access and a professional trading environment

Visit broker

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
Saxo Bank Logo

#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

Visit broker
67% of retail CFD accounts lose money

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
Capital.com Logo

#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

Visit broker
84% of retail CFD accounts lose money

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
Alpaca Trading Logo

#4 Best international online broker in India in 2022
Alpaca Trading

Recommended for traders interested in algorithmic stock trading

Visit broker

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
TradeStation Logo

#5 Best international online broker in India in 2022
TradeStation

Recommended for traders focusing on us markets and buy-and-hold investing

Visit broker

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:

  1. Interactive Brokers - Low trading fees. Wide range of products. Many great research tools.
  2. Saxo Bank - Great trading platform. Outstanding research. Broad product portfolio.
  3. Capital.com - Low forex CFD fees and commission-free real stocks. Great account opening experience. Excellent email and chat support.
  4. Alpaca Trading - Great API trading service. Free stock & ETF trading. Fantastic charting tools.
  5. TradeStation - Great web and mobile trading platform. Low trading fees. High-quality research and education tools.

Author of this article

Adam Nasli

Author of this article

Adam is a motivated finance expert. He joined BrokerChooser in 2018 and has since tested almost all 100+ brokers covered by BrokerChooser. Adam holds a professional degree from CEU and he helps teach finance and programming courses at his alma mater. Previously he worked in the banking sector, including at Citi Bank. He loves researching the financial industry, managing his long-term investments, and trading with algorithms.

Adam Nasli

Analyst Head

Adam is a motivated finance expert. He joined BrokerChooser in 2018 and has since tested almost all 100+ brokers covered by BrokerChooser. Adam holds a professional degree from CEU and he helps teach finance and programming courses at his alma mater. Previously he worked in the banking sector, including at Citi Bank. He loves researching the financial industry, managing his long-term investments, and trading with algorithms.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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