BEST MT4 BROKERS IN INDIA

By | 4 August, 2020

India is popular among foreign exchange brokers as well as other Asian countries. Economically, we need to realize that India is an economically stable developing country, a more stable and prosperous state. Yes, in this vast country there are an incredible 100 millionaires, the third-largest group of millionaires worldwide. Although this goes against the idea of low incomes, long working hours and cheap labor, some people can still succeed from them. However, the distinction between legitimate and illegal forex trade is not yet clear in India. India allows forex trading, but limits it to certain requirements and is therefore somewhat confusing. For example, international foreign exchange companies and legal MT4 brokers in India, are accepted and have the freedom to do so, whereas Indian citizens are prevented from trading under certain conditions. India also retains appropriate powers to supervise the country’s financial markets responsible for market fairness, transparency, and market participants’ rights.

Whether forex trading in India is legal or not?

The truth is that in India, only half of foreign exchange transactions are legal. Due to government regulatory attempts, The Reserve Bank of India allows you legally only to exchange currency pairs of Indian rupees, which are EUR/INR, GBP/INR, USD/INR and JPY/INR with legal forex brokers based in India. Worst of all, these brokers are not properly forex companies, in fact, they are actually stock exchange companies. >>> Top best forex brokers in India

Benefits of MT4 brokers in India

Most Indian forex traders use international forex brokers because they accept to do business with traders who live in India and want to trade on the main currency pairs without any problems. This not only gives them more incentives but also the high liquidity of these currency pairs. It also means a larger rate of return (due to price fluctuations).

So if you desire to trade the world’s most liquid and common currency pairs, you should find an international forex broker that accepts Indian resident traders. Authorized Forex brokers in India have a wide variety of options and are well-respected including the leading brands with cutting edge technology (Metatrader 4+ Mobile Apps + Society Trading, etc.) that bring you the ability of trading over 50 currency pairs across the globe.

Time zone difference

Traders should not ignore time zones because forex trading is related to the right timing. Let’s see how the location and time zone affect the Indian market. In addition to the common trading risks associated with forex trading, time zones may be an obstacle. There is a difference in East-West market time and the market is shaped by two main transactions of the day. Yen/dollar trading is active in the morning, while USD/EUR and USD/GBP dominate in the evenings (US and European times). When the market is volatile, opening positions at night may be dangerous and must be shut down on time (e.g. Monday through Friday from 9:00 to 7:30 pm). Traders, especially overseas traders, need to understand the time of activity for each region of the market to set time for closing a deal. This act is counted as a risk reduction strategy or security measure.

Conclusion

India’s leading MT4 brokers fully connect the best prices and quotes through a complex platform that provides the best service and meets the highest industry standards for its customers. Check more MT4 vs MT5 Platforms Comparison.

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