Forex trading Zerodha refers to currency trading on India’s largest retail stock and derivatives platform, Zerodha. While Zerodha is widely known for equity and futures trading, many Indian traders also explore its currency derivatives segment to participate in the forex market legally through Indian exchanges.

This article explains how forex trading works on Zerodha, what instruments are available, how it compares to global brokers, and what beginners should know before starting.

Key Takeaways

• Zerodha offers forex trading through NSE and BSE currency futures and options.
• Only INR-based currency pairs are allowed (e.g., USD/INR, EUR/INR).
• Trading is regulated by SEBI and conducted during Indian exchange hours.
• It’s ideal for Indian residents seeking legal and SEBI-compliant forex exposure.

How Forex Trading Works on Zerodha

Zerodha allows forex trading through currency derivatives (futures and options) listed on:

• NSE (National Stock Exchange)
• BSE (Bombay Stock Exchange)

These trades are settled in Indian rupees and are regulated by SEBI, ensuring safety and transparency.

Available Currency Pairs:

Zerodha supports trading in:

• USD/INR
• EUR/INR
• GBP/INR
• JPY/INR

Cross-currency pairs like EUR/USD or GBP/JPY are not available due to SEBI restrictions.

Trading Hours:

• Monday to Friday: 9:00 AM – 5:00 PM IST
• Trading is not available on weekends or global holidays not observed in India.

Zerodha vs International Forex Brokers

Feature	Zerodha	International Brokers
Regulation	SEBI	FCA, ASIC, CySEC, etc.
Currency Pairs	INR-based only	50–100+ global pairs
Leverage	Up to 1:20	Up to 1:500 (varies by region)
Platform	Kite	MetaTrader 4/5, cTrader
Suitability	Indian residents	Global retail/institutional clients

Zerodha is safer for Indian retail traders due to strict SEBI regulations, but it’s limited in terms of instruments and leverage.

Case Study: Rohit’s Experience With Zerodha Forex

Rohit, a college student in Mumbai, started forex trading with Zerodha after completing a Forex Course. He focused on USD/INR futures contracts, using Kite’s charting tools and economic calendar. Though he couldn’t trade exotic pairs like EUR/USD, Zerodha’s simplicity and regulatory backing gave him peace of mind while he learned price action strategies.

Pros and Cons of Forex Trading on Zerodha

Pros:

• SEBI-regulated and fully legal in India.
• No international fund transfers required.
• Low brokerage and transparent fee structure.
• Simple platform with strong local support.

Cons:

• Only INR-based pairs allowed.
• No MetaTrader or high-frequency platforms.
• No access to weekend trading or global forex markets.
• Limited leverage compared to global brokers.

Frequently Asked Questions

Can I trade forex on Zerodha?

Yes, you can trade INR-based currency futures and options on NSE and BSE via Zerodha.

Is Zerodha good for forex trading?

Yes, for INR-based pairs and legal compliance in India. However, global brokers offer more variety and flexibility.

Which currencies are available on Zerodha?

You can trade USD/INR, EUR/INR, GBP/INR, and JPY/INR in the derivatives segment.

Is forex trading on Zerodha legal?

Yes, Zerodha’s forex trading is fully legal and regulated by SEBI.

Can I trade EUR/USD on Zerodha?

No. Only currency pairs with INR as the quote currency are permitted under Indian regulation.