SEBI Regulated Forex Brokers India 2026
A guide to SEBI registered brokers for currency derivatives and top international alternatives. Understand the legal landscape for Indian traders.
Written by
Edith Balazs
Fact Checked by
Marcus Thompson
SEBI Regulated Forex Brokers 2026
The Securities and Exchange Board of India (SEBI) strictly regulates forex trading. Currently, retail traders can ONLY trade currency derivatives (USDINR, EURINR, GBPINR, JPYINR) on recognized exchanges like NSE and BSE. Trading spot FX with international brokers is technically restricted. Below we list SEBI-registered brokers for legal domestic trading, and top international options used by Indian residents at their own risk.
Is forex trading legal in India?
Trading USDINR, EURINR, GBPINR, and JPYINR futures on SEBI-recognized exchanges (NSE/BSE/MSE) is 100% legal. Trading spot forex or CFDs with unregistered overseas brokers is technically prohibited under FEMA.
SEBI Status
Domestic vs International status.
Detailed Broker Analysis
India's #1 Broker.
Zerodha allows you to trade currency futures and options on the NSE/BSE. It is fully SEBI compliant and safe, but you cannot trade international pairs like EURUSD.
Full Service.
Angel One offers comprehensive research reports on rupee pairs. A solid choice for traders who want guidance alongside their trades.
Low Cost.
Upstox is backed by Ratan Tata and offers a fast, reliable mobile app for trading currency derivatives on Indian exchanges.
Frequently Asked Questions
Top SEBI Regulated Forex Brokers India
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January 2026