Intro and winners
Find below the strengths of the best brokers available in India, updated for 2024:
- Interactive Brokers is the best international online brokers in India in 2024. - Extremely low fees. Wide range of products. Many great research tools.
- Alpaca Trading - Great API trading service. Free stock & ETF trading. Fantastic charting tools.
- NinjaTrader - Low trading fees. Great platform and research. Quality educational materials.
- tastytrade - Low trading fees. Great educational materials. Good research tools.
- CMC Markets - Low forex fees. Great web and mobile platforms. Advanced research and educational tools.
- Optimus Futures - Low trading fees and free ACH withdrawal. Great platform and research. Fast customer service.
- Swissquote - Access to many markets and products. No inactivity fee. Rock-solid background.
- FP Markets - Low forex fees. Easy and fast account opening and funding. Great education tools.
- Pepperstone - Fast and fully digital account opening. Seamless and free deposit and withdrawal. Great educational materials.
- TradeStation - Great web and mobile trading platform. High level of investor protection. High-quality research and education tools.
Overview of winners
Take a look at the interactive table below to compare the key services each broker in our toplist offers. We personally checked and tested all the features and services we consider most crucial for users.
Broker | Overall score | Minimum deposit |
---|---|---|
Interactive Brokers | 4.9 /5 | $0 |
Alpaca Trading | 4.5 /5 | $0 |
NinjaTrader | 4.5 /5 | $0 |
tastytrade | 4.5 /5 | $0 |
CMC Markets | 4.5 /5 | $0 |
Optimus Futures | 4.5 /5 | $500 |
Swissquote | 4.4 /5 | $0 |
FP Markets | 4.4 /5 | $50 |
Pepperstone | 4.4 /5 | $0 |
TradeStation | 4.4 /5 | $0 |
Key fees at the top brokers
The fees you pay for a trade play a critical role in selecting a broker. While trading fees are super important in our rankings, they aren't the only ones. Although we prioritize low-cost or even zero-fee brokers, our experience tells us that the cheapest option isn't always the best choice. We collected the most important fees for you in the following interactive table.
Broker | US stock | Indian stock |
---|---|---|
Interactive Brokers | $1.0 | $0.20 |
Alpaca Trading | $0.0 | - |
NinjaTrader | - | - |
tastytrade | $0.0 | - |
CMC Markets | - | - |
Optimus Futures | - | - |
Swissquote | $20.0 | - |
FP Markets | - | - |
Pepperstone | - | - |
TradeStation | $5.0 | - |
Non-trading fees at the top brokers
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.
Broker | Account fee | Inactivity fee |
---|---|---|
Interactive Brokers | ||
Alpaca Trading | ||
NinjaTrader | ||
tastytrade | ||
CMC Markets | ||
Optimus Futures | ||
Swissquote | ||
FP Markets | ||
Pepperstone | ||
TradeStation |
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.
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 2024 one by one, starting with the winner, 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 2024 |
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 2024 |
Recommended for active traders focusing on futures
NinjaTrader snapshot | |
---|---|
Minimum deposit | $0 |
Fees class | Low |
Deposit method | Bank transfer |
Withdrawal method | Bank transfer |
Withdrawal fee | $0 |
Time to open account | >3 days |
Inactivity fee | Yes |
Read review | For a detailed analysis of NinjaTrader services, check out our review for 2024 |
Recommended for options and futures traders focusing on US markets
tastytrade 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 tastytrade services, check out our review for 2024 |
Recommended for forex and CFD traders looking for an advanced trading platform with many research tools
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71% of retail CFD accounts lose money
CMC Markets snapshot | |
---|---|
Minimum deposit | $0 |
Fees class | Low |
Deposit method | Bank transfer, Credit/debit cards |
Withdrawal method | Bank transfer, Credit/debit cards |
Withdrawal fee | $0 |
Time to open account | 1-3 days |
Inactivity fee | Yes |
Read review | For a detailed analysis of CMC Markets services, check out our review for 2024 |
Recommended for day traders focusing on futures and technical trading
Optimus Futures snapshot | |
---|---|
Minimum deposit | $500 |
Fees class | Low |
Deposit method | Bank transfer |
Withdrawal method | Bank transfer |
Withdrawal fee | $20 |
Time to open account | 1 day |
Inactivity fee | No |
Read review | For a detailed analysis of Optimus Futures services, check out our review for 2024 |
Recommended for affluent investors who value safety and are OK with higher fees
Swissquote snapshot | |
---|---|
Minimum deposit | $0 |
Fees class | High |
Deposit method | Bank transfer, Credit/debit cards |
Withdrawal method | Bank transfer |
Withdrawal fee | $10 |
Time to open account | 1 day |
Inactivity fee | No |
Read review | For a detailed analysis of Swissquote services, check out our review for 2024 |
Recommended for forex and CFD traders familiar with the MetaTrader and IRESS trading platforms
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72.5% of retail CFD accounts lose money
FP Markets snapshot | |
---|---|
Minimum deposit | $50 |
Fees class | Low |
Deposit method | Bank transfer, Credit/debit cards, Neteller, Skrill, PayPal, Asia Banks, Sticpay, fasapay, Virtual Pay, Rupee Payments, Rapyd, Perfect Money, pagsmile, Cryptocurrency Solution, Crypto (finrax), mybux, ypay, Apple Pay, Google Pay, B2Binpay |
Withdrawal method | Bank transfer, Credit/debit cards, Neteller, Skrill, PayPal, Asia Banks, Sticpay, fasapay, Virtual Pay, Rupee Payments, Rapyd, Perfect Money, pagsmile, Cryptocurrency Solution, Crypto (finrax), mybux, ypay, Apple Pay, Google Pay, B2Binpay |
Withdrawal fee | $0 |
Time to open account | 1 day |
Inactivity fee | No |
Read review | For a detailed analysis of FP Markets services, check out our review for 2024 |
Recommended for forex traders looking for great account opening and customer service
Visit broker
75.2% of retail CFD accounts lose money
Pepperstone snapshot | |
---|---|
Minimum deposit | $0 |
Fees class | Low |
Deposit method | Bank transfer, Credit/debit cards, POLi, BPay, PayPal, Neteller, Skrill, Union Pay, MPESA+FaceID |
Withdrawal method | Bank transfer, Credit/debit cards, POLi, BPay, PayPal, Neteller, Skrill, Union Pay, MPESA+FaceID |
Withdrawal fee | $0 |
Time to open account | 1 day |
Inactivity fee | No |
Read review | For a detailed analysis of Pepperstone services, check out our review for 2024 |
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 2024 |
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How did we select the best international online brokers in India in 2024?
- 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.
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 2024 are:
- Interactive Brokers - Extremely low fees. Wide range of products. Many great research tools.
- Alpaca Trading - Great API trading service. Free stock & ETF trading. Fantastic charting tools.
- NinjaTrader - Low trading fees. Great platform and research. Quality educational materials.
- tastytrade - Low trading fees. Great educational materials. Good research tools.
- CMC Markets - Low forex fees. Great web and mobile platforms. Advanced research and educational tools.
- Optimus Futures - Low trading fees and free ACH withdrawal. Great platform and research. Fast customer service.
- Swissquote - Access to many markets and products. No inactivity fee. Rock-solid background.
- FP Markets - Low forex fees. Easy and fast account opening and funding. Great education tools.
- Pepperstone - Fast and fully digital account opening. Seamless and free deposit and withdrawal. Great educational materials.
- TradeStation - Great web and mobile trading platform. High level of investor protection. High-quality research and education tools.
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.