Brokers with a mobile app in India

Affiliate links: we earn a commission; it never changes scores or order. CFDs are high-risk and leverage can lose you money rapidly.

Key facts (16 of 90 counts · 73 brokers onboarding Indian residents)

16of 90

qualify for this ranking

18% of 90

6of 16

scored on all six axes

38% of 16

65of 90

publish a price

72% of 90

49of 90

publish a leverage figure for this country

54% of 90

Top 3 (of 3 ranked)

1OctaFX3.9highest score of the three · illegal locally · withdrawal in 3 h 2BlackBull Markets3.82cheapest priced of the three · offshore only; sebi/rbi rules do not per 3BDSwiss3.8offshore only; under rbi/fema rules indi · withdrawal in 24 h

Brokers with a mobile app in India (16 of 90)

By slice score, formula v1.0. · 16 of 73 brokers in this ranking · all 16

#	Broker	Round turn, USDIN	Min deposit, USDIN	Leverage	Withdrawal, hIN	Score	Execution	Founded	Funding
1	JM Financial	7	—	—stated, not verified	—	4.38	ECN/raw + standard	1998	2 methods
2	Reliance Securities	—	—	—stated, not verified	—	3.92	—	2005	2 methods
3	OctaFX	9	25 group	1000IN	3	3.9	ECN/raw + standard	2011	2 methods · local
4	BlackBull Markets	6	0 group	500IN	72	3.82	ECN/raw + standard	2014	5 methods
5	BDSwiss	10	10 group	2000IN	24	3.8	ECN/raw + standard	2012	3 methods
6	Dukascopy	8	100 group	200IN	48	3.77	Standard	2004	3 methods
7	Alice Blue	—	—	—stated, not verified	—	3.51	—	2006	2 methods
8	Saxo Bank	9	0 group	—	24	3.49	Standard	1992	—
9	FXGT	14	5 group	5000IN	72	3.34	Standard	2019	4 methods
10	InstaForex	—	1 group	1000IN	144	2.8	ECN/raw + standard	2007	3 methods
11	Axis Direct	—	—	100IN	120	—	—	2011	2 methods · local
12	Choice Broking	—	—	—stated, not verified	—	—	—	2010	2 methods
13	Geojit Financial Services	—	—	—stated, not verified	—	—	—	1987	2 methods
14	Prabhudas Lilladher	—	—	—stated, not verified	—	—	—	1944	2 methods
15	SBI Securities	—	—	—stated, not verified	—	—	—	1944	2 methods
16	SMC Global Securities	—	—	—stated, not verified	—	—	—	1994	2 methods

Ten are shown; the button opens the rest.

"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.

— the broker does not publish this figure; it is not read as a zero and it is not scored.

BlackBull Markets publishes a retail leverage of 1:500 without naming the entity that grants it, so the figure is marked group and left out of the leverage ranking and median.

Identical for every row, so it is stated once: Who onboards Local · SEBI · Swap-free fee none, no limit · INR account Yes.

1. OctaFX — highest score of the three · illegal locally · withdrawal in 3 h (score 3.9)

Round turn: 9 USD
Withdrawal: 1-3 hours
INR account: USD; no INR base account.
Leverage: 1000IN
Accepts residents: through an offshore entity
Onboarding entity: IN clients served via offshore entity; local arm OctaFX India Pvt Ltd (renamed Tauga Pvt Ltd) sanctioned. Server relocations post-crackdown.
Founded: 2011
Register: https://sebi.gov.in · 09.07.2026
Group leverage: offshoregroup
Instruments: FX, metals, indices, commodities, crypto & stock CFDs.
Platforms: MT5cTraderWebTradingView
Funding: Historically local bank/UPI-style deposits; withdrawals widely reported failing after ED action.
Not served: United States, United Kingdom, Canada, European Union, Israel, Japan, New Zealand, North Korea, Iran, Myanmar, Philippines

Reviews25%75
Round-turn cost20%80
Safety0
Payouts15%98
Track record10%
Platforms65

Why it ranks here

Round turn 9 USD against the slice median 7 USD. strongest axis payouts 98 of 100. total score 3.9.

Watch for

Payouts axis 58 of 100; e-wallet times not published.

Full review of OctaFX

2. BlackBull Markets — cheapest priced of the three · offshore only; sebi/rbi rules do not per (score 3.82)

Round turn: 6 USD
Withdrawal: 1-3 business days
INR account: Accounts in USD/EUR/GBP/JPY/AUD/NZD/SGD/CAD/ZAR; no INR base account, so deposits convert.
Leverage: 500IN
Licence: SEBI SD045
Accepts residents: through an offshore entity
Onboarding entity: BBG Limited
Founded: 2014
Register: https://blackbull.com/en/support/restricted-countries · 09.07.2026
Group leverage: offshore
Instruments: 72 forex pairs and 26,000+ tradeable symbols: share CFDs, indices, commodities and crypto CFDs.
Platforms: MT5MT4Web
Funding: Cards, bank wire, Skrill, Neteller and crypto; availability varies and specific Indian rails (e.g. UPI) not verified at review.
Not served: United States, Canada, North Korea, Iran

Why it ranks here

Round turn 6 USD against the slice median 7 USD. strongest axis round-turn cost 95 of 100. total score 3.82.

Watch for

Min deposit 200 USD, double the India median of 50; withdrawal time not published.

Full review of BlackBull Markets

3. BDSwiss — offshore only; under rbi/fema rules indi · withdrawal in 24 h (score 3.8)

Round turn: 10 USD
Withdrawal: under 24 hours
INR account: Primarily USD and EUR; no verified INR account.
Leverage: 2000IN
Licence: C116016172
Accepts residents: through an offshore entity
Onboarding entity: Indian clients are onboarded under the offshore entity BDSwiss (Seychelles) Ltd (FSA) / BDS Markets (FSC Mauritius) via the global site; no Indian entity.
Founded: 2012
Register: https://global.bdswiss.com/account-types · 09.07.2026
Group leverage: offshoregroup
Instruments: 250+ CFDs: forex, shares, indices, commodities and 26+ cryptocurrencies.
Platforms: MT5WebMobile
Funding: Cards, bank/wire and e-wallets; India-specific local rails (e.g. UPI) not verified at review.
Not served: United States, United Kingdom, Canada, Japan, European Union, European Economic Area, Iran, Syria, North Korea, Congo, Eritrea, Libya, Mauritius, Myanmar, Seychelles, Somalia, Sudan

Why it ranks here

Round turn 10 USD against the slice median 7 USD. strongest axis payouts 80 of 100. total score 3.8.

Watch for

Onboards Indian residents through an offshore entity: no SEBI licence, no SEBI complaints route, no INR account.

Full review of BDSwiss

What the data shows(16 of 90 distributions · 73 brokers)

Swap-free availability (16 of 90 brokers)

Offered30Not offered14

Admin fee after the free period (16 of 90 swap-free)

Never16After 3–30 days9not published5

Who onboards Indian residents (16 of 90 brokers)

Local SEBI entity20Offshore entity24

INR account (16 of 90 brokers)

Yes16No23not published5

Own mobile app published (90 of 90)

86Yes

2No

2Not stated

Platforms the brokers run (85 of 90)

59MetaTrader 4

53MetaTrader 5

11TradingView

8cTrader

4Own platform

Full list(16 of 90)

1JM Financial4.38
Onboards
Local · SEBI
Swap-free
none, no limit
Round turn, USD
7
INR
Yes
2Reliance Securities3.92
Onboards
Local · SEBI
Swap-free
none, no limit
INR
Yes
3OctaFX3.9
Onboards
Local · SEBI
Swap-free
none, no limit
Round turn, USD
9
Min deposit, USD
25 group
Leverage
1000IN
INR
Yes
4BlackBull Markets3.82
Onboards
Local · SEBI
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
0 group
Leverage
500IN
INR
Yes
5BDSwiss3.8
Onboards
Local · SEBI
Swap-free
none, no limit
Round turn, USD
10
Min deposit, USD
10 group
Leverage
2000IN
INR
Yes
6Dukascopy3.77
Onboards
Local · SEBI
Swap-free
none, no limit
Round turn, USD
8
Min deposit, USD
100 group
Leverage
200IN
INR
Yes
7Alice Blue3.51
Onboards
Local · SEBI
Swap-free
none, no limit
INR
Yes
8Saxo Bank3.49
Onboards
Local · SEBI
Swap-free
none, no limit
Round turn, USD
9
Min deposit, USD
0 group
INR
Yes
9FXGT3.34
Onboards
Local · SEBI
Swap-free
none, no limit
Round turn, USD
14
Min deposit, USD
5 group
Leverage
5000IN
INR
Yes
10InstaForex2.8
Onboards
Local · SEBI
Swap-free
none, no limit
Min deposit, USD
1 group
Leverage
1000IN
INR
Yes

How to read this ranking

Start with the figure this page ranks on.
Every row here is ordered by computed score, highest first; unscored brokers follow. A broker that publishes no figure is shown without one rather than guessed at.
Check which company would onboard you.
The same brand can take a resident of India through a locally licensed entity or an offshore one, and the leverage cap, the complaint route and the protection all follow the entity, not the brand.
Read the cost beside the deposit.
The median round turn across this country is 7.0 USD and the median minimum deposit 15.0 USD; a low deposit beside a wide spread takes the difference back on every trade.

Neighbouring slices(6 rankings · 6 explainers)

Same country

Explained

FAQ

How many brokers qualify for this ranking in India?: 16 of 90 brokers measured for this country qualify.
Which broker leads it, and on what basis?: OctaFX leads it with a score of 3.9. The order is computed score, highest first; unscored brokers follow.
What does a trade typically cost here?: The median round turn - spread plus commission for one standard lot, in and out - is 7.0 USD across the brokers that publish both parts.
Why do some rows show a dash instead of a figure?: Because the broker does not publish that figure for this country. A dash is a statement about what is published, and a figure is never filled in from a group-wide page as if it applied locally.

How this slice is scored

Slice score = 2 + 3 × weighted mean of the six axes; the swap-free fee and availability feed price and reliability. A missing axis drops out and weights are renormalised; group-wide figures never enter. Full methodology

Verified · What changed · Sources(16 of 90 broker records)

Verified01.10.2026

data re-captured 28.09.2026

Risk warning and affiliate disclosure

CFDs are complex instruments with a high risk of losing money rapidly due to leverage. A swap-free account removes overnight interest, not market risk. We earn a commission on some links; paid rows are marked and never ranked first.