Which is the Best Forex Trading Platform in India?
What do you think is the single most important weapon in the armoury of a forex trader?
- Is it their forex trading strategy? or,
- Is it their risk management strategy? or,
- Are they excellent technical analysts?
While the above mentioned parameters are important, the most important and potent weapon that every successful forex trader needs is - a trustworthy forex broker providing the best forex trading platform.
In India, forex trading is allowed only via SEBI registered forex brokers like Samco . Samco provides one of the best forex trading platforms in India.
Before we analyse why Samco has the best forex trading platform in India, let us first understand:
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» Who is a Forex broker?
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» What are the different types of Forex brokers
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» What to look for while searching for the best Forex broker?
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» What are the benefits of a Forex broker?
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» Which is the best Forex trading platform in India?
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» FAQs
Who is a Forex broker?
A forex broker is a person, or a company that provides a trading platform to forex traders for buying and selling currency pairs. A forex broker is also known as a currency trading broker or a retail forex broker.
What are the different types of Forex brokers?
Typically, forex brokers can be traditional forex brokers or discount forex brokers.
A traditional forex broker provides forex analysis, tips and research reports to the clients. They charge a high brokerage percentage for providing these services.
Discount brokers, on the other hand, do not provide forex tips or analysis. They simply provide forex trading platforms to their clients. They charge a nominal flat brokerage fee of Rs 20/trade, irrespective of the trade size.
Samco is one of India’s leading discount brokers. Before we decode why Samco is the best forex broker and provides the best forex trading platform in India, let us see what to look for in a forex broker.
[Suggested Reading: How to Open a Forex Trading Account?]
What to look for while searching for the best Forex broker?
Apart from being trustworthy, your broker:
- Should be registered with SEBI and authorised to provide forex services.
- Should have an excellent reputation amongst forex traders.
- Should have minimum margin requirements.
- Should provide access to deal in all the currency pairs listed on the exchange.
- Should provide a high leverage ratio.
- Should charge flat minimum brokerage.
- Should provide clients with insurance against negative balances
- Should maintain client’s funds in a segregated account.
- Should offer 24/7 trading at lightning speeds.
- Should offer call and trade facility to clients.
What are the benefits of a Forex broker?
As mentioned earlier, in India you can participate in the forex markets only via SEBI registered forex brokers. Apart from being mandated by law, best forex brokers also provide the following benefits:
Help you understand the forex markets
Forex markets are complicated. It would be very easy for a novice investor to lose his entire capital on the very first trade. Good forex brokers publish research reports and provide on-call guidance to help their clients understand the forex market, what factors affect the currency prices and how to trade.
Provides you with the best forex trading platform and technology
The forex markets change trends every other minute. Without technology, it would be impossible for an investor to track all the trends, indicators and decide his trading strategy. A good forex broker provides the client with the best technology and also helps him set up and track trends, indicators and formulate strategies.
Provides high leverage with low margins
Leverages help you control big positions against a small capital base. While most brokers are hesitant to provide high leverage ratios, a good broker provides high intraday leverages. Samco provides as high as 100x intraday leverage.
Eradicates counterparty risks
By accessing the forex markets via an authorised broker, you ensure that you are not exposed to counterparty risks. The exchange (BSE/NSE/MSE) becomes the counterparty. You also get the guarantee that the trades are done legally, under the governance of RBI and SEBI.
Is Samco the best forex broker in India?
| Qualities of a forex broker | Samco’s Qualities |
|---|---|
| Authorised and SEBI registered forex broker | Samco is registered with SEBI as an authorised forex broker. |
| Excellent reputation among forex traders | Samco has been a forex broker since the past two decades and enjoys a good reputation within the forex trading community. |
| Minimal margin requirements | Samco has the lowest margin requirements in the currency trading segment. |
| Access to all currency pairs | Samco allows you to deal in all the 7 currency pairs legally allowed in India i.e. USD/INR, GBP/INR, JPY/INR, EUR/INR, EUR/USD, GBP/USD, USD/JPY |
| Provide high leverage | Samco provides a leverage ratio of up to 125x in intraday. So, you can take positions worth Rs 12.5 Lakhs against a trading margin of Rs 10,000. |
| Minimum brokerage charges | Samco has one of the lowest brokerage rates in the country. It charges a maximum of Rs 20/trade irrespective of the trade size. |
| Best forex trading technology | Samco provides the best forex trading platform with 100% accuracy at lightning speed. |
Another important factor to consider while selecting a forex trader is whether they are offering the absolute best forex trading platform.
Samco - The best Forex trading platform in India
In India, there are many so-called ‘best forex trading platforms’ but Samco truly emerges as the absolute best forex trading platform in India with features such as:
