If you’re asking which forex trading app is approved by RBI, the Reserve Bank of India (RBI) does not directly approve apps, but it regulates how forex trading can legally be done in India. This means only SEBI-registered brokers offering INR-based forex pairs through Indian exchanges (NSE, BSE, or MSEI) are compliant with RBI and FEMA rules.

RBI-Compliant Forex Trading Apps In India

These apps are provided by SEBI-registered brokers and only allow trading in INR currency pairs (USD/INR, EUR/INR, GBP/INR, JPY/INR):

1. Zerodha Kite

• Broker: Zerodha (SEBI-registered)
• Pairs Allowed: USD/INR, EUR/INR, GBP/INR, JPY/INR
• Why it’s legal: Trades routed through NSE/BSE
• Best for: Beginners and professional traders in India

2. Upstox Pro

• Broker: Upstox (RKSV Securities)
• Compliance: SEBI-licensed, RBI-aligned
• INR-based forex futures on NSE
• User-friendly app with good charting tools

3. ICICI Direct Markets App

• Broker: ICICI Securities
• Integration: Directly linked to ICICI Bank
• Fully compliant with RBI guidelines

4. HDFC Securities

• Offers currency derivatives on NSE/BSE
• Fully RBI and SEBI regulated

5. Angel One App

• Currency derivatives for INR-based pairs
• Affordable, mobile-friendly, and SEBI-compliant

Key RBI Rules For Forex Trading In India

• Only INR-based currency pairs are permitted: USD/INR, EUR/INR, GBP/INR, JPY/INR
• No offshore brokers (like OctaFX, Exness, or IC Markets) are allowed for Indian residents
• Trading in pairs like EUR/USD, GBP/JPY, or USD/CHF with foreign brokers violates FEMA rules
• All trades must go through SEBI-registered brokers on Indian exchanges

Conclusion

If you’re asking which forex trading app is approved by RBI, the correct answer is: apps like Zerodha Kite, Upstox Pro, and ICICI Direct, as they are operated by SEBI-licensed brokers and only offer INR-based currency pairs as per RBI and FEMA rules.

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