In 2025, India’s forex trading landscape continues to grow, with many brokers offering competitive services to cater to both beginner and professional traders. However, it's essential to note that forex trading in India is subject to certain regulations, and retail traders can only trade in currency pairs that are approved by the Reserve Bank of India (RBI) on exchanges like the NSE (National Stock Exchange), BSE (Bombay Stock Exchange), and MCX-SX (Multi Commodity Exchange of India). Here are some of the top forex trading companies in India as of 2025:

**1. Zerodha

• Overview:
  Zerodha is one of India’s largest and most popular stock and forex brokers, offering access to forex trading via currency futures and options. Known for its low-cost trading and transparency, Zerodha has established itself as a leader in the Indian trading space.
• Key Features:
  • Low brokerage fees and zero-commission trading
  • User-friendly trading platforms (Kite and Zerodha Varsity for education)
  • Access to currency futures and options
  • Strong educational resources for traders
• Why It’s Popular:
  Zerodha's cost-effective structure and simple, intuitive platforms make it a favorite for traders, especially those who prefer a direct, no-frills approach.

**2. Upstox

• Overview:
  Upstox is a growing fintech company in India that offers forex trading through currency derivatives. It’s a popular choice among active traders due to its low costs and robust trading tools.
• Key Features:
  • Low margin and leverage trading
  • Seamless mobile and web trading platforms
  • Currency futures and options
  • Real-time market data and advanced charting tools
• Why It’s Popular:
  Upstox provides a range of tools to suit the needs of both novice and advanced traders. With its competitive pricing and fast order execution, it appeals to traders who prioritize efficiency and affordability.

**3. ICICI Direct

• Overview:
  ICICI Direct is one of India’s leading brokers, offering access to forex trading through currency derivatives on major Indian exchanges. It is a subsidiary of ICICI Bank, making it a trusted name in the industry.
• Key Features:
  • Wide range of investment products, including currency trading
  • Strong research and analysis tools
  • Competitive margin rates and leverage
  • Access to currency futures and options
• Why It’s Popular:
  ICICI Direct is recognized for its reliable customer service, secure platform, and integration with the ICICI Bank ecosystem, offering a seamless trading experience for those with a broader portfolio.

**4. HDFC Securities

• Overview:
  HDFC Securities, another prominent name in the Indian brokerage industry, offers forex trading services on recognized Indian exchanges like NSE and BSE. It is well-suited for both new and experienced traders looking to trade in currency futures.
• Key Features:
  • Strong research reports and expert insights
  • Currency futures and options trading
  • Low brokerage fees
  • Multiple trading platforms (desktop and mobile)
• Why It’s Popular:
  HDFC Securities is known for its trustworthiness and comprehensive customer support. It’s a good choice for traders who prefer a larger, established financial institution for their forex trading needs.

**5. Angel One (formerly Angel Broking)

• Overview:
  Angel One is another well-known player in India’s financial markets, offering access to forex trading through currency derivatives. With its competitive trading costs and solid trading platform, it is a strong contender in the forex market.
• Key Features:
  • Offers currency futures and options
  • Advanced trading tools and charting features
  • Personalized customer service
  • Access to an integrated platform for equities, commodities, and forex trading
• Why It’s Popular:
  Angel One's seamless integration of different asset classes, easy-to-use platforms, and solid customer support make it a top choice for traders looking for comprehensive solutions.

**6. 5Paisa

• Overview:
  5Paisa is a discount broker in India that provides forex trading options on currency futures and options. It’s known for its low-cost model and comprehensive mobile platform.
• Key Features:
  • Low brokerage fees, with the option for zero brokerage on certain plans
  • Access to currency futures and options on NSE and BSE
  • Mobile app with a user-friendly interface
  • Advanced charting and analysis tools
• Why It’s Popular:
  5Paisa is popular for its low-cost, no-frills model, making it ideal for traders who want access to forex markets without high commissions. It’s also very appealing to new traders thanks to its simplified platform and pricing structure.

**7. Sharekhan

• Overview:
  Sharekhan, a subsidiary of the renowned brokerage firm BNP Paribas, is another major player in India’s forex trading space. It provides access to currency derivatives along with a suite of tools for research, analysis, and execution.
• Key Features:
  • Currency futures and options available
  • Research and recommendations for traders
  • Integrated mobile and web-based platforms
  • Training and education for new traders
• Why It’s Popular:
  Sharekhan’s extensive market research, solid reputation, and user-friendly platform make it a good choice for traders who need reliable support and actionable insights.

**8. Kotak Securities

• Overview:
  Kotak Securities is a subsidiary of Kotak Mahindra Bank and provides access to currency trading through exchanges like NSE and BSE. It offers a secure platform and a wide range of financial products.
• Key Features:
  • Currency futures and options
  • Seamless integration with Kotak Bank accounts for easier deposits and withdrawals
  • Research reports, tools, and technical analysis
  • Strong customer support
• Why It’s Popular:
  Kotak Securities is ideal for traders who already have an account with Kotak Mahindra Bank, as it makes deposits and withdrawals convenient. Its research-driven approach and secure platform are also major selling points.

**9. Motilal Oswal

• Overview:
  Motilal Oswal is a well-known brokerage firm offering access to currency futures and options on Indian exchanges. It is recognized for its strong market research, trading tools, and long-standing reputation.
• Key Features:
  • Advanced trading platforms (desktop, web, and mobile)
  • Currency futures and options
  • Comprehensive research and technical analysis tools
  • Robust educational content for traders
• Why It’s Popular:
  Motilal Oswal's high-quality research, reliable trading platforms, and educational resources make it a top choice for both novice and experienced forex traders.

**10. Fyers

• Overview:
  Fyers is an Indian discount broker that allows forex trading via currency futures. Known for its low brokerage structure and user-friendly platforms, it is a great option for traders on a budget.
• Key Features:
  • Zero brokerage on delivery trading, competitive rates on intraday trading
  • Access to currency futures
  • Real-time data and technical analysis
  • Simple and effective trading interface
• Why It’s Popular:
  Fyers stands out for its cost-effective pricing model and user-friendly interface, making it an attractive choice for both beginners and advanced traders.

Conclusion

The top forex trading companies in India in 2025 offer a mix of well-established brands and newer, competitive brokers. Zerodha, Upstox, and ICICI Direct continue to dominate with their robust platforms, low costs, and high liquidity, making them suitable for a wide range of traders. Meanwhile, HDFC Securities, Angel One, and Kotak Securities stand out for their trusted reputations and solid customer support. Whether you are a beginner looking for educational resources or an experienced trader seeking advanced tools, there is a broker in India that can meet your needs.