The broker offers a low, flat brokerage structure. The broker is well-reputed amongst forex traders. While selecting a forex broker ensure that: The broker is authorised by SEBI to provide forex trading services. Finding a trustworthy forex broker is a time consuming activity. There are thousands of fake forex brokers online. How to start forex trading in India : Step #2 : Find an authorised and real forex broker Since forex trading is done in lots and on high leverages, even a small delay can magnify your loss. A delay of even 5 seconds can be the difference between profit or loss. Forex trading is all about quick reactions. To start forex trading in India, you need a good internet service provider with minimal disruptions. How to start forex trading in India : Step #1 : Get on the internet Get access to your broker’s forex trading platform. Open the best forex trading account in India and make the initial deposit. Find an authorised and real forex broker (similar to finding a needle in a haystack). The steps to start forex trading in India are simple: Get on the internet. You only need a trading account to start forex trading in India. Therefore, you don’t need a demat account for currency trading. you do not get physical delivery of the currencies. How to start Forex trading in India?Īs mentioned earlier, currency contracts in India are cash settled i.e. You can refer to our article on ‘What is Currency Trading or Forex trading?’ to understand the basics of currency trading in detail. Leverage: Leverage helps you take big positions against a small collateral i.e. Lots: Unlike the share market where you can buy 1 share, currency market deals in lots. Pip: A point in price or pip is the smallest movement (change) in the exchange rates of the currency pair.

Spread: The difference between the bid and the ask price is known as the ‘spread’. To master currency trading, you need to be well informed about the basics of currency trading like:Ĭurrency pairs: Currencies are always traded in pairs.īid & ask: The price at which a currency is bought is known as the ‘bid’ price and the price at which a currency is sold is known as the ‘ask’ price. » What are the various types of Currency Trading strategies?Ĭurrency trading, forex trading, FX trading are all one and the same and refers to buying and selling of currency pairs for hedging, speculation or arbitrage. » What are the basics of Currency Trading?

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