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Brokers

Brokers we review

For reference, we review three internationally regulated brokers — **Base Markets**, **ActivTrades** and **XM** — but none is SEBI-registered, and funding an account with any of them from India means remitting money abroad, which runs into the same RBI/FEMA restriction covered in our FAQ below. These reviews are informational, not a funding recommendation for Indian residents.

Free Trading Signals 2026: The Broker You Need To Open An Account With
★ Simple, low-cost MT5 broker — reviewed for reference
Base Markets
4.7/54.7 / 5

The lowest entry barrier of our three ranked brokers: deposits from $0 and spreads from 0.0 pips on MT5. We don't run our usual free-signals-via-deposit offer for India — see why in the regulation section below.

Min. deposit
$0
Spreads from
0.0 pips
Platforms
MetaTrader 5
Regulation
FSC

Pros

  • Deposits from $0 — the lowest entry barrier of our three ranked brokers
  • Competitive spreads from 0.0 pips
  • The full MetaTrader 5 platform with all its tools

Cons

  • MT5 only — no MT4 support
  • Not SEBI-regulated — it is an offshore broker licensed by the FSC in Mauritius
Visit brokerRead review
ActivTrades
4.5/54.5 / 5

Authorised by the UK's Financial Conduct Authority (FCA) with FSCS protection up to £85,000, founded in 2001, and no deposit or withdrawal fees.

Min. deposit
$0
Spreads from
0.5 pips
Platforms
ActivTrader, MetaTrader 4, MetaTrader 5
Regulation
FCASCBCMVM

Pros

  • Long-standing UK FCA licence with FSCS protection up to £85,000
  • Operating since 2001 — one of the industry's longest track records
  • Three platforms: the proprietary ActivTrader plus MT4 and MT5

Cons

  • Not SEBI-regulated — like every offshore CFD broker serving Indian clients
  • Swap-free account available only in a limited list of countries — check your eligibility
Visit brokerRead review
XM
4.6/54.6 / 5

Licensed by DFSA (Dubai), ASIC and CySEC, genuine swap-free accounts with no spread widening, and deposits from just $5.

Min. deposit
$5
Spreads from
0.6 pips
Platforms
MetaTrader 4, MetaTrader 5
Regulation
DFSAASICCySECFSC

Pros

  • Multiple strong licences including DFSA (Dubai), ASIC and CySEC
  • Swap-free accounts with no spread widening in exchange
  • Deposits from just $5 — around ₹450, the lowest cash commitment on this list

Cons

  • Not SEBI-regulated — you rely on its offshore licences, not Indian investor protection
  • Standard-account spreads are higher than the Zero account's
Visit brokerRead review
Pepperstone
4.6/54.6 / 5

One of the most heavily regulated brokers on our list — ASIC, FCA and CySEC among seven authorities — with spreads from 0.0 pips on the Razor account and a choice of MT4, MT5, cTrader and TradingView.

Min. deposit
$0
Spreads from
0.0 pips
Platforms
MetaTrader 4, MetaTrader 5, cTrader, TradingView
Regulation
ASICFCACySECDFSABaFinSCB

Pros

  • Among the most regulated brokers we list — seven authorities including ASIC, FCA and CySEC
  • Spreads from 0.0 pips on the Razor account with transparent commission
  • Four platforms: MetaTrader 4, MetaTrader 5, cTrader and TradingView

Cons

  • Our free-signals offer is exclusive to Base Markets — Pepperstone signals require the paid Telegram subscription
  • No fixed-spread accounts; costs vary with market conditions
Visit brokerRisk warning (Pepperstone, Jul–Sep 2026): 72.9% of retail investor accounts lose money when trading CFDs with this provider under FCA and CySEC, 75.2% under BaFin, 79.6% under SCB and 75–95% under CMA. The figure depends on the licensed entity your account is opened with. Make sure you understand how CFDs work and whether you can afford the high risk of losing your money.Read review
Capital.com
4.5/54.5 / 5

A slick, FCA- and CySEC-regulated broker with 3,000+ markets, zero-commission spread-only pricing and a $20 minimum — strong for traders who want breadth and a modern app.

Min. deposit
$20
Spreads from
0.6 pips
Platforms
Capital.com web & app, MetaTrader 4, MetaTrader 5, TradingView
Regulation
FCACySECASICSCBFSA

Pros

  • 3,000+ markets — forex, shares, indices, commodities, crypto and thematic baskets
  • Regulated by the FCA, CySEC and ASIC, with segregated client funds
  • Low $20 minimum and zero-commission, spread-only pricing

Cons

  • Our free-signals offer runs through Base Markets — Capital.com signals need the paid subscription
  • Swap-free accounts are available only in some jurisdictions
Visit brokerRead review
Base MarketsActivTradesXMPepperstoneCapital.com
Editorial rating4.7/54.7 / 54.5/54.5 / 54.6/54.6 / 54.6/54.6 / 54.5/54.5 / 5
Min. deposit$0$0$5$0$20
Spreads from0.0 pips0.5 pips0.6 pips0.0 pips0.6 pips
PlatformsMetaTrader 5ActivTrader, MetaTrader 4, MetaTrader 5MetaTrader 4, MetaTrader 5MetaTrader 4, MetaTrader 5, cTrader, TradingViewCapital.com web & app, MetaTrader 4, MetaTrader 5, TradingView
RegulationFSCFCASCBCMVMDFSAASICCySECFSCASICFCACySECDFSABaFinSCBFCACySECASICSCBFSA
Why there's no broker-deposit offer here—————
Open accountRead reviewOpen accountRead reviewOpen accountRead reviewOpen accountRisk warning (Pepperstone, Jul–Sep 2026): 72.9% of retail investor accounts lose money when trading CFDs with this provider under FCA and CySEC, 75.2% under BaFin, 79.6% under SCB and 75–95% under CMA. The figure depends on the licensed entity your account is opened with. Make sure you understand how CFDs work and whether you can afford the high risk of losing your money.Read reviewOpen accountRead review

At a glance

At a glance
BrokersSpreads fromMin. depositRegulationPlatforms
Base Markets0.0 pips$0FSCMetaTrader 5
ActivTrades0.5 pips$0FCA · SCB · CMVMActivTrader, MetaTrader 4, MetaTrader 5
XM0.6 pips$5DFSA · ASIC · CySEC · FSCMetaTrader 4, MetaTrader 5
Pepperstone0.0 pips$0ASIC · FCA · CySEC · DFSA · BaFin · SCBMetaTrader 4, MetaTrader 5, cTrader, TradingView
Capital.com0.6 pips$20FCA · CySEC · ASIC · SCB · FSACapital.com web & app, MetaTrader 4, MetaTrader 5, TradingView

Forex and CFD trading carries a substantial risk of loss; offshore brokers are not SEBI-regulated, and our calls are market analysis and education, not investment advice.

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Forex and CFD trading carries a substantial risk of loss; offshore brokers are not SEBI-regulated, and our calls are market analysis and education, not investment advice.

Trading forex, CFDs and crypto carries a substantial risk of loss and is not suitable for every trader — offshore brokers are not regulated by SEBI, our calls are analyst opinions and education rather than investment advice, and past performance does not guarantee future results.

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