If you’re asking which forex trading app is legal in India, the answer is: only apps offered by SEBI-registered brokers that allow trading in INR-based currency pairs through Indian exchanges like NSE, BSE, or MSEI. These apps operate under the guidelines of the Reserve Bank of India (RBI) and the Foreign Exchange Management Act (FEMA).

Top Legal Forex Trading Apps In India

1. Zerodha Kite

• Broker: Zerodha (SEBI-registered)
• Exchange: NSE
• Pairs available: USD/INR, EUR/INR, GBP/INR, JPY/INR
• Why it’s legal: Fully compliant with SEBI and RBI rules
• Bonus: Clean interface, fast execution, and integrated charts

2. Upstox Pro

• Broker: Upstox (SEBI-registered)
• Exchange: NSE
• Features: Real-time data, charting tools, and INR currency pair trading
• Best for: Beginners looking for ease of use

3. ICICI Direct Markets App

• Broker: ICICI Securities
• Exchange: NSE and BSE
• Why it’s legal: RBI and SEBI compliant with strong bank integration
• Great for: ICICI Bank users looking for seamless transfers

4. HDFC Securities App

• SEBI-registered broker offering currency derivatives via BSE/NSE
• Safe, bank-backed, and fully compliant with Indian regulations

5. Angel One App

• Allows currency trading on NSE
• Includes trading tools, research, and INR-pair access
• Strong customer service and mobile experience

Only These Currency Pairs Are Legal For Indian Residents

According to RBI:

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

These can only be traded through currency futures and options on Indian exchanges.

Apps That Are NOT Legal In India

Avoid offshore forex apps like:

• OctaFX
• Exness
• RoboForex
• FBS
• Deriv

They allow trading in non-INR pairs (e.g. EUR/USD, GBP/JPY) with high leverage, which is prohibited for Indian residents under FEMA. Using such apps can result in penalties or blocked accounts.

Conclusion

If you’re asking which forex trading app is legal in India, use SEBI-registered platforms like Zerodha Kite, Upstox Pro, or ICICI Direct, and trade only in RBI-approved INR-based pairs via Indian exchanges.

Want to learn how to trade forex safely and legally in India? Enrol in our SEBI-compliant Trading Courses at Traders MBA and gain the skills to trade confidently and within the law.