1 Sign-up reward
4.6 Sign-up Reward in Bitcoin
Coinbase
$200
Sign-up reward paid in Bitcoin, up to $200, after you deposit $25 and trade $100 within 180 days.
Bonus availability
Broker bonuses in India
81 bonuses we have verified as available to traders in India.
India is a huge retail trading market, but it is also one of the most restrictive for forex and CFDs. The rules here are set by two authorities working together, and they leave very little room for the deposit bonuses and welcome offers that offshore brokers advertise to Indian residents.
Bonuses available in India
2 Free stock
4.4 Free Fractional Share Welcome Bonus (Up to £100/€100)
Trading 212
£100
New Trading 212 clients who open and fund an Invest or Stocks ISA account get one randomly selected free fractional share worth between £8 and £100, with the cash value locked for 30 days.
3 Free stock
4.3 eToro Welcome Bonus: Up to $500 in Free Stocks
eToro
$500
New eToro customers in eligible countries who deposit at least US$200 and select stocks as their trading interest can receive up to US$500 in free stocks, scaled to deposit size.
4 Deposit match
4.3 XM Deposit Trading Bonus (100% up to $500, then 20% up to a $10,500 cap)
XM
100% match up to $10,500
XM matches your deposit 100% on the first $500 and 20% after that, up to $10,500 in bonus credit you can trade with but cannot withdraw directly.
5 Free stock
4.3 XTB Free Share: One Free Stock When You Fund
XTB
$30
New XTB clients who open an account and make a deposit receive one free real share, typically worth between about $25 and $80, with no trading or holding requirement.
6 Referral
4.2 BitMart Referral Program: 20% Commission (Up to 30%)
BitMart
Referral commission on invitees' trading fees
BitMart's referral program pays you a permanent commission of 20% (rising to 25% and 30% as you invite more people) on the trading fees of friends you refer for spot and futures trading.
7 Sign-up reward
4.1 Crypto.com Sign-Up Bonus: CRO Reward for New Users
Crypto.com
CRO 25
New Crypto.com users who join with a referral code and trade earn a sign-up reward paid in CRO, realistically about $5 to $15 for a typical user, up to roughly $50.
8 Deposit match
4.1 Errante 30% Deposit Bonus
Errante
Up to 30% deposit match (credit, non-withdrawable)
Errante gives a tiered 15% to 30% match on your deposit as non-withdrawable trading credit, capped at $2,000, with no turnover requirement but with the catch that any withdrawal wipes out the bonus.
9 Deposit match
4.1 M4Markets 50% Credit Bonus
M4Markets
50% credit bonus on each deposit
M4Markets adds a 50% credit bonus to each deposit on an MT4/MT5 Bonus account, and the credit converts to withdrawable cash as you trade FX or metals.
10 Referral
4.0 CoinEx Referral Program - 15% Trading Fee Commission for New Referrers
CoinEx
Trading fee commission
CoinEx pays referrers a share of their invited friends' trading fees, starting at 15% for regular users (the headline 40% applies only to VIP 5 accounts) and credited in CET tokens.
11 Cashback
4.0 Firstrade ACAT Transfer Fee Rebate
Firstrade
$100
Firstrade reimburses the ACAT transfer fee your old broker charges, up to $250, when you move $2,500 or more in eligible assets and keep them parked for 12 months.
12 Referral
3.8 Pepperstone Refer-a-Friend Program (20 Free Trades or up to $1,000 Cash)
Pepperstone
Up to $1,000
Pepperstone pays both you and a referred friend up to USD 1,000 in cash (or 20 commission-free trades on the retail version) once the friend deposits and trades a set number of lots within 90 days.
13 Sign-up reward
3.7 Binance Welcome Bonus: Up to $100 in Trading Vouchers
Binance
USDT 100
New Binance users who verify, deposit and trade can earn around $100 in rewards, but these arrive as trading-fee vouchers rather than withdrawable cash.
14 Deposit match
3.7 FBS 100% Deposit Bonus (up to $10,000 + up to 60% on subsequent deposits)
FBS
100% match up to $10,000
FBS matches your first deposit 100% up to $10,000 and adds up to 60% on later deposits, but the bonus credit itself is non-withdrawable and only boosts your trading margin.
15 No-deposit
3.7 $500 No-Deposit Bonus
Grand Capital
No-deposit trading credit
Grand Capital gives verified new clients a $500 trading credit with no deposit required, but profits are only withdrawable after meeting a steep lot turnover and matching your profit with a real deposit within 7 days.
16 Deposit match
3.7 IronFX 100% Sharing Bonus
IronFX
100% deposit match (non-withdrawable credit)
IronFX credits a 100% Sharing Bonus on your deposit as non-withdrawable trading funds, with no cap on the amount, but profits made on it are split 50/50 with the broker on withdrawal.
17 Deposit match
3.7 IronFX 40% Power Bonus
IronFX
40% deposit credit bonus
IronFX adds a 40% non-withdrawable credit bonus on deposits of US$500 or more, capped at US$4,000 per client, that boosts margin but can never be cashed out.
18 Deposit match
3.7 ThinkMarkets 5% Crypto Deposit Bonus
ThinkMarkets
5% match up to $5,000
ThinkMarkets adds 5% to USDT crypto deposits of at least $500, capped at a $5,000 bonus, with the bonus only becoming withdrawable after you trade 5 standard FX or gold lots per $50 of bonus.
19 Deposit match
3.6 100% Deposit Match up to $5,000 (Credit Bonus)
Admiral Markets
100% match up to $5,000
Admirals matches your deposit 100% up to $5,000 in non-withdrawable trading credit that only converts to cash through very high trading volume.
20 Volume rebate
3.6 Membership Program: Monthly Spread Rebates up to 15%
FxPro
Up to 15% monthly spread/commission rebate (Platinum tier)
FxPro's tiered loyalty program returns a slice of your paid spread and commission as monthly cash rebates, rising through Silver, Gold, and Platinum levels up to a 15% ceiling, credited to your Wallet and withdrawable.
21 Sign-up reward
3.5 BlackBull Markets $100 Welcome Bonus (Refer a Friend)
BlackBull Markets
Welcome bonus
New BlackBull Markets clients who join through a referral link can earn US$100 after depositing US$500 and trading 5 FX or metal lots, or US$250 after depositing US$2,000 and trading 20 lots.
22 Deposit match
3.5 HFM 100% SuperCharged Bonus - Up to $50,000 + Daily Rebates
HFM
100% match up to $50,000
HFM matches each qualifying deposit 100% up to $50,000 in non-withdrawable trading credit and pays daily cash rebates of about $2 per Gold lot (capped at $8,000), available to non-EU traders on Premium and Islamic accounts.
23 Deposit match
3.5 HFM Top-Up Bonus (10-100% Deposit Bonus)
HFM
100% match up to $5,000
HFM credits a percentage bonus (10% up to 100% depending on the regional campaign, capped around 5,000 USD) on every deposit into a Top-Up Bonus account, with profits withdrawable but the bonus credit locked as trading margin.
24 Deposit match
3.5 Vantage 150% Deposit Bonus (Up to $1,500 Credit)
Vantage
150% match up to $1,500
Vantage matches a new client's first deposit 150% up to $1,500 in trading credit, plus 25% on later deposits. The credit is margin only and cannot itself be withdrawn.
25 Sign-up reward
3.4 BingX Welcome Bonus: Staged USDT Vouchers + 20% Trading Fee Discount
BingX
20% trading fee discount + small staged sign-up vouchers
New BingX users who sign up with a referral code get a permanent 20% trading fee discount plus a series of small USDT bonus vouchers that unlock in stages, not a guaranteed 7,700 USDT.
26 Referral
3.4 Bitpanda Tell-a-Friend: €5 Per Friend Who Invests €500
Bitpanda
Up to €100
Refer a friend to Bitpanda and you both earn €5 once they invest their first €500 in crypto or a Bitpanda Crypto Index, with rewards scaling up to a joint €200.
27 Deposit match
3.4 FreshForex 15% First Deposit Bonus (Real Withdrawable Funds, $100+)
FreshForex
15% of first deposit, up to $500 in real funds
FreshForex adds 15% of your first deposit (minimum $100, capped at $500) as real, withdrawable funds, with no trading volume requirement but a rule that deducts the bonus if you pull out more than 30% of the deposit within 60 days.
28 Cashback
3.4 FXOpen Cashback: 15% Commission Refund on ECN Accounts
FXOpen
15% match up to $1,000
FXOpen refunds 15% of the trading commission on ECN and Crypto accounts during the first 90 days after registration, credited automatically and withdrawable right away.
29 Loyalty program
3.4 FXTM Rewards Loyalty Program
FXTM
$0.25/lot
FXTM automatically enrols live Advantage and Advantage Plus traders in a points-based loyalty program where every lot earns Reward Points that redeem for withdrawable cash at 500 points to $1.
30 Volume rebate
3.3 Grand Capital Payback: $0.50 to $1.50 per Lot for Active Traders
Grand Capital
Per-lot cash rebate by trading-streak status
Grand Capital pays active Standard-account traders a per-lot cash rebate of $0.50 to $1.50, set by how many consecutive days they have been trading.
31 Contest
3.3 HTX U.S. Stock Futures TradFi Trading Contest (50,000 USDT Prize Pool)
HTX
50,000 USDT contest prize pool
A 10-day HTX trading contest (June 1 to June 11, 2026) splitting a 50,000 USDT prize pool between existing users on a volume leaderboard and new users who earn a flat 3 USDT reward.
32 Referral
3.3 NordFX Refer a Friend: 10% of Your Friend's Deposit
NordFX
10% of friend's first deposit
NordFX pays existing clients a bonus worth 10% of every referred friend's first deposit, released once the friend trades enough volume.
33 No-deposit
3.2 $100 No Deposit Bonus
Admiral Markets
$100
Admiral Markets gives eligible non-EU and non-UK clients a $100 trading credit with no deposit required, but you have to trade enough over two 30-day stages (including a $25 deposit) before any profit can be withdrawn.
34 Deposit match
3.2 ForexMart 30% Deposit Bonus
ForexMart
30% on every deposit
ForexMart adds 30% of every deposit as a tradable bonus credit on Standard and Zero Spread accounts, withdrawable only after you trade 0.3 lots per bonus dollar.
35 Referral
3.2 FxPro Refer a Friend: $50 for You and Your Friend
FxPro
Cash reward per referral
FxPro pays both the referrer and the referred friend a withdrawable $50 cash bonus once each verified account deposits at least $100 and trades 3 lots in forex or metals within 30 days.
36 Deposit match
3.2 JustMarkets Deposit Bonus: Up to 120% Credit
JustMarkets
120% match up to $40,000
JustMarkets adds up to 120% of a deposit as trading credit for clients in supported regions. The credit is margin only, released into withdrawable funds after heavy lot volume.
37 Sign-up reward
3.2 KuCoin Welcome Rewards: about 100 USDT plus coupons for new users
KuCoin
USDT and coupons for new users
New KuCoin users who verify, deposit, and trade within 30 days collect a randomized welcome package of roughly 100 USDT plus trading-fee coupons and futures trial funds, far below the advertised 11,000 USDT ceiling.
38 Referral
3.2 Refer a Friend: $5 per Standard Lot Your Friend Trades
M4Markets
Per-lot referral reward
M4Markets pays referring clients $5 for every standard lot of FX or metals their referred friend trades, with lower rates on Raw Spread and Premium accounts.
39 No-deposit
3.2 XM $30 No-Deposit Welcome Bonus
XM
$30
XM gives new clients a $30 trading credit with no deposit required, claimable after SMS phone verification in the Members Area.
40 Deposit match
3.1 AMarkets 100% Deposit Bonus (Double Your Capital), Up to $5,000 Credit
AMarkets
100% deposit match
AMarkets matches your first deposit 100% as a non-withdrawable credit bonus (capped at $5,000 under the official regulation, not the advertised $10,000), letting you trade with double the margin while only the profits can be cashed out.
41 Sign-up reward
3.1 Bybit Rewards Hub: Up to $30,000 USDT
Bybit
Up to USDT 30,000
Bybit's Rewards Hub gives new, KYC-verified users a tiered trading bonus of up to 30,000 USDT for hitting deposit and derivatives volume targets within 14 days of signup.
42 Deposit match
3.1 ForexMart 20% Deposit Bonus
ForexMart
20% of every deposit
ForexMart adds a 20% credit to every qualifying deposit on Classic and Cent MT4 accounts, withdrawable only after you trade a volume equal to the bonus amount times 0.2 standard lots.
43 Deposit match
3.1 Octa 50% Deposit Bonus
Octa
50% match
Octa adds 50% of every deposit as a bonus you can use as margin. The bonus itself becomes withdrawable only after you trade a volume of lots tied to its size.
44 Deposit match
3.1 20% Deposit Match Bonus
Windsor Brokers
20% bonus on every deposit
Windsor Brokers credits a 20% bonus on every qualifying deposit of USD 500 or more, up to a USD 10,000 lifetime cap, as non-withdrawable trading credit.
45 Contest
3.0 World Cup Gold Rush: $10M Prize Pool Predictions and Trading Contest (June 9 to July 20, 2026)
BingX
Total prize pool split across four events
A free-to-enter 2026 World Cup campaign where users join a prediction airdrop, match-outcome voting, a five-week futures trading contest, and a referral program, all drawing from a $10 million total prize pool that is split among thousands of winners.
46 Contest
3.0 FXOpen ForexCup Trading Championship: $50,000 First Prize
FXOpen
$50,000 top prize
FXOpen's annual ForexCup Trading Championship ranks live ECN accounts by trading performance, with a $50,000 cash prize for first place.
47 No-deposit
3.0 $50 No Deposit Welcome Bonus
LiteFinance
$50 free credit, no deposit
LiteFinance gives new, fully verified clients $50 of trading credit with the promo code Welcome, but profits only become withdrawable after you fund the account yourself.
48 Volume rebate
3.0 NordFX Margin Call Bonus: $5 to $15 Per Lot Insurance Credit
NordFX
Per-lot insurance bonus on Margin Call
NordFX credits a non-withdrawable insurance bonus of $5 to $15 per traded lot (capped at $5,000) that activates only when your Pro account hits a Margin Call, letting you keep open positions alive.
49 Contest
3.0 Phemex 2026 Ultimate Championship: $7M Prize Pool Contest
Phemex
$7,000,000 USDT total prize pool
A 42-day World Cup themed crypto trading competition with a headline $7,000,000 USDT prize pool, where most participants earn small non-withdrawable trading-bonus vouchers rather than cash.
50 No-deposit
3.0 RoboForex $30 Welcome Bonus
RoboForex
$30
RoboForex gives new, fully verified clients a 30 USD trading bonus after a card deposit of at least 10 USD, with profits withdrawable and no lot or turnover requirement.
51 Deposit match
2.9 AvaTrade Welcome Bonus: 20% First-Deposit Match
AvaTrade
20% match
New AvaTrade clients outside the EU and UK can claim a first-deposit bonus, typically 20% of the deposit, that becomes withdrawable only after meeting a high trading-volume requirement.
52 Sign-up reward
2.9 BitMart Deposit Rewards: $500+ Deposit Unlocks Vouchers and Futures Bonus
BitMart
Deposit $500+ to unlock vouchers and a futures trading bonus
Depositing $500 or more in a single transaction on BitMart unlocks spot trading fee vouchers and a non-withdrawable USDT futures trading bonus, handed out first-come, first-served.
53 Sign-up reward
2.9 CoinEx Newcomer Bonus: $40 in Cashback Vouchers for a Deposit and First Trade
CoinEx
Cashback vouchers for new users
New CoinEx users can earn cashback vouchers worth up to $100 by completing deposit and trading tasks, though about $40 of that is realistically reachable without high futures volume.
54 Deposit match
2.9 NordFX 55% Deposit Bonus
NordFX
55% deposit match
NordFX adds 55% of your deposit as a non-withdrawable bonus on Fix and Pro MT4 accounts, with any trading profit free to withdraw.
55 No-deposit
2.9 SuperForex $88 No Deposit Bonus
SuperForex
No deposit bonus (up to $50 withdrawable)
SuperForex credits new, fully verified Standard account holders an $88 no deposit bonus, but you can only withdraw profits (capped at $50) after trading one standard lot per dollar.
56 Fee discount
2.9 20% Permanent Trading Fee Discount with WhiteBIT 20CASHBACK Referral Code
WhiteBIT
20% off all trading fees
Entering the referral code 20CASHBACK during WhiteBIT registration applies a permanent 20% discount on all spot and futures trading fees from your first trade.
57 Deposit match
2.8 SuperForex 50% Welcome Bonus
SuperForex
50% on every deposit
SuperForex adds 50% of every deposit you make as a tradable bonus credit that boosts your margin, with no lot or time requirement to withdraw your profits.
58 Deposit match
2.7 Eightcap 20% Deposit Bonus
Eightcap
20% match up to $500
Eightcap adds a 20% trading credit to your deposit (up to $500 on a $1,000 deposit) that you unlock as withdrawable cash by trading $1.00 worth of credit per standard FX lot.
59 Referral
2.7 FP Markets Refer-a-Friend: $50 to $200 per referral, withdrawable cash
FP Markets
Up to $200
FP Markets pays existing clients a cash reward of $50 to $200 per friend they refer, based on how much the friend deposits and trades, with the reward withdrawable at any time.
60 Deposit match
2.7 FreshForex 300% Tradable Deposit Bonus
FreshForex
300% deposit match
FreshForex credits 300% of each deposit of 100 USD or more as tradable bonus funds (capped at 5,000 USD), which become withdrawable only after closed volume in lots reaches 35% of the bonus amount within 180 days.
61 Sign-up reward
2.7 HTX Welcome & Referral Mystery Boxes (small random USDT, plus futures trial credit)
HTX
Mystery boxes of random crypto plus futures trial credit
HTX gives new users referred by an existing member up to five mystery boxes of small random crypto, plus futures trial credit, unlocked by logging in and hitting modest spot or futures trading volume within 14 days.
62 Volume rebate
2.7 IC Markets: $100 Cash or Commission Discount (TradersPartner IB Offer)
IC Markets
$1.5/lot
TradersPartner, an IC Markets introducing broker, gives new referred clients a choice of 100 USD paid by PayPal after trading 50 standard lots or a permanent per-lot commission discount of up to 1.50 USD.
63 Sign-up reward
2.5 Bitget Welcome Bonus: Futures Vouchers for New Users
Bitget
USDT 200
Bitget advertises a welcome pack up to $6,200, but the rewards are non-withdrawable futures vouchers, and the realistic value to a typical new user is close to nothing.
64 Sign-up reward
2.5 BitMart Welcome Bonus: About 25 USDT Cash for New Users
BitMart
Withdrawable cash for new users
BitMart advertises up to 14,000 USDT for new users, but the freely withdrawable cash is only around 25 USDT (10 for signup, 10 for KYC, 5 for a 100 USDT deposit), with the rest paid as trading fee vouchers and volume-gated rewards.
65 Sign-up reward
2.5 Bybit Welcome Gift Rewards - Up to 5,100 USDT
Bybit
Up to USDT 5,100
A staged sign-up offer for new Bybit users that pays out fee saver coupons (around 100 USDT in realistic value) for verifying identity, depositing 100 USD, and trading, all within 7 days of registration.
66 Sign-up reward
2.5 Gate.io New User Welcome Bonus: $18 Futures Voucher Plus $20 KYC Reward
Gate.io
Realistic new-user value
New Gate.io users get a small stack of non-withdrawable futures-trading vouchers, roughly $18 for a first deposit of 20 USDT plus a $20 reward for completing identity verification, not the "$10,000 USDT" headline that is really a pool of fee credits unlocked only by very high trading volume.
67 Deposit match
2.5 IC Markets 100% First Deposit Bonus + 50% Reload Bonus (Up to $25,000)
IC Markets
100% match up to $25,000
IC Markets matches your first deposit 100% and every later deposit 50%, up to $25,000 in non-withdrawable bonus credit that boosts your trading margin while any profits stay yours to keep.
68 Deposit match
2.5 55% Bonus for Every Deposit
InstaForex
55% match
55% credit on every deposit. Profits are freely withdrawable; the bonus itself only after an extremely high turnover.
69 Fee discount
2.5 20 Commission-Free Trades
Pepperstone
$600
Pepperstone refunds the commission on up to 20 trades placed on a Razor account, capped at USD 600 total, after a referred client funds the account with at least USD 1,000.
70 Deposit match
2.4 AMarkets Broker Switch Bonus: 20% Deposit Match
AMarkets
20% deposit match
AMarkets gives traders who switch from another broker a 20% bonus on their initial deposit, capped at 5,000 USD or EUR, credited as non-withdrawable funds you can trade with for 30 days.
71 Demo contest
2.4 Eightcap Demo Trading Contest - $1,000 Top Cash Prize
Eightcap
$1,800 pool
A free monthly demo trading contest where the trader with the best return wins $1,000 in cash, paid to a live account.
72 Deposit match
2.4 Grand Capital 40% Deposit Bonus
Grand Capital
40% on every deposit
Grand Capital adds 40% to every qualifying deposit of $100 or more as tradable bonus credit, up to a $20,000 lifetime cap across all your accounts.
73 Volume rebate
2.3 Cashback Program - $3 to $17 per Lot on Forex and Metals
AMarkets
Per-lot cashback
AMarkets pays a per-lot cashback rebate on forex and metals trades, starting at $3 per lot for entry-level traders and rising to $17 per lot only at the top of a five-tier monthly-volume ladder.
74 Referral
2.3 Kraken Referral Program - Up to $20 per referral
Kraken
USDG 20
Refer a new friend to the Kraken app and you both earn up to $20 USDG once they deposit fiat and make qualifying non-stablecoin trades within 15 days, with a cap of $200 USDG per referrer.
75 Sign-up reward
2.3 MEXC Welcome Bonus: New-User Futures Vouchers
MEXC
USDT 40
MEXC advertises welcome gifts up to 8,000 USDT, but the bulk is non-withdrawable futures bonus credit. The genuinely usable part is roughly 40 USDT in vouchers.
76 Interest on balance
Perk eToro Interest on Balance - Up to 3.55% Annual Interest
eToro
Up to 3.55% a year
eToro pays up to 3.55% annual interest on the uninvested USD cash sitting in your trading account, accrued daily and paid monthly, with no lock-in.
77 Free VPS
Perk Exness Free VPS Service
Exness
Free VPS
Exness gives a free low-latency VPS to clients who keep at least USD 1,000 in their accounts (or USD 500-999 plus USD 500,000 of 30-day trading volume) and keep trading from it.
78 Free VPS
Perk Free VPS Service for Forex Trading
FP Markets
Free VPS
FP Markets covers the monthly cost of a low-latency forex VPS once you deposit at least 1,000 USD and keep trading enough lots each month, so your Expert Advisors run 24/5 without a hosting bill.
79 Interest on balance
Perk HFM Return on Free Margin (ROFM)
HFM
Up to 3% a year
HFM pays an annual interest rate of 2% to 3% on your free margin, credited monthly to your wallet, once you trade at least 5 lots of forex or metals CFDs in a month.
80 Interest on balance
Perk RoboForex: Up to 10% a Year on Account Balance
RoboForex
Up to 10% a year
RoboForex pays up to 10% per year on your trading account balance, credited monthly, with the rate set by how many lots of forex and metals you trade each month.
81 Interest on balance
Perk Loyalty Rewards Program with up to 2% interest on net equity
Windsor Brokers
0.4% to 2% annual interest in loyalty points
Windsor Brokers pays a tiered annual yield of 0.4% to 2% on your net equity as loyalty points, but only after you reach Gold status or higher and activate the feature.
40 more offers we track are not available to residents here.
This page explains the legal position honestly. The short version is that most of the bonuses you see promoted to Indian traders come from brokers that are not authorised to take your money in the first place, which matters far more than any headline percentage.
Which bonuses you can claim
For practical purposes, broker bonuses are not legally available to Indian residents. The only forex trading a resident can legally do is in INR currency derivatives, USD/INR, EUR/INR, GBP/INR and JPY/INR, traded as standardised futures and options on recognised exchanges like the NSE, BSE and Metropolitan Stock Exchange through a SEBI-registered intermediary. These are regulated brokerage accounts, not the bonus-driven offshore accounts you see advertised online.
Trading forex or CFDs with an offshore online broker is a different matter. Sending money to an overseas broker to trade non-INR pairs is treated as a FEMA violation, and the RBI keeps an Alert List of platforms, now running to around one hundred names, that are not authorised to deal in forex for Indian residents. Several well-known international brands appear on it. Because these brokers cannot legally take your funds, the bonuses they attach are not offers you can safely act on.
If you see a deposit match, cashback or no-deposit credit aimed at Indian traders, assume it comes from an offshore broker operating outside FEMA. Penalties under FEMA can reach three times the amount involved, and getting funds back from an unauthorised platform is difficult. A bonus is worth nothing if the underlying account is not one you are permitted to hold.
Who regulates trading in India
- Securities and Exchange Board of India (SEBI) sebi.gov.in ↗
Regulates exchange-traded currency derivatives. Retail traders may only deal in INR currency pairs through SEBI-registered brokers on recognised exchanges such as the NSE and BSE.
- Reserve Bank of India (RBI) rbi.org.in ↗
Administers the Foreign Exchange Management Act (FEMA) and publishes an Alert List of platforms that are not authorised to deal in forex for residents.
Trading in India
Local currency: INR
India has a very large and active derivatives market, but its retail forex segment is deliberately narrow. The rupee is non-convertible on the capital account, which is the root reason residents are confined to INR-paired contracts on local exchanges rather than the open offshore market. Leverage on retail currency derivatives is also capped at modest levels by SEBI, a deliberate contrast to the high leverage offshore brokers use to market themselves.
Treat any aggressive bonus pitched at Indian traders as a warning sign, not an opportunity. Recovery scams that promise to retrieve money lost to unauthorised platforms are common here and often target the same people twice. Before depositing anywhere, check the RBI Alert List and confirm the broker is SEBI-registered. If it is neither, the bonus is the least of the problems.
Frequently asked questions
- Is forex trading legal in India?
- Only in a narrow form. Residents may trade INR currency pairs as exchange-traded derivatives through a SEBI-registered broker on the NSE, BSE or MSE. Trading non-INR pairs with offshore brokers is restricted under FEMA.
- Can I claim a broker bonus as an Indian resident?
- Not legally in practice. The bonuses advertised to Indian traders come from offshore brokers that are not authorised under FEMA to take resident funds, so acting on the offer means using an unauthorised platform.
- What is the RBI Alert List?
- It is a published list of platforms that are neither authorised to deal in forex under FEMA nor licensed to run an electronic trading platform for forex. Using a listed platform can expose you to penal action.
- What happens if I trade with an offshore forex broker from India?
- Funding an overseas broker for non-INR forex is treated as a FEMA breach, with penalties that can reach three times the amount involved, and recovering money from an unauthorised platform is often not possible.
Keep exploring
Sources
Researched by the BrokerBonuses editorial team. Last reviewed 2026-06-07. · How we research
- RBI Alert List of unauthorised forex trading platforms: rbi.org.in ↗
- SEBI Currency Derivatives: sebi.gov.in ↗
- RBI FAQ on foreign exchange transactions by residents: rbi.org.in ↗