Brokers With INR Accounts
Written By
James Barra
Written By
James Barra
Fact Checked By
Jemma Grist
Fact Checked By
Jemma Grist
Updated
Oct 9, 2024
An Indian Rupee (INR) trading account is based in India’s currency. Popular with Indians, they facilitate trades and transactions in a familiar currency while reducing conversion costs.
Explore the best brokers with INR accounts, personally tested by our experts.
Best Brokers With INR Accounts
Our tests show these are the 5 top trading platforms accepting INR accounts:
Here is a summary of why we recommend these brokers in March 2025:
- Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
- Zacks Trade - Zacks Trade is a FINRA-regulated US broker offering trading on stocks, ETFs, cryptocurrencies, bonds and more through a proprietary terminal. The broker is geared toward active traders and offers very affordable fees on most assets as well as an app and a vast amount of market data.
- Exness - Established in 2008, Exness has maintained its position as a highly respected broker, standing out with its industry-leading range of 40+ account currencies, growing selection of CFD instruments, and intuitive web platform complete with useful extras like currency convertors and trading calculators.
- Quotex - Established in 2019, Quotex is a binary broker that offers 400+ assets, including forex, stocks, indices, commodities, and cryptocurrencies. The platform emphasizes user-friendly features, complete with short-term contracts that span 5 seconds to 4 hours alongside payouts that can reach 95%.
- OKX - OKX is a respected cryptocurrency firm, established in 2017, that offers a large suite of products, from mining pools to NFTs. Traders can access over 400 crypto tokens via OTC trading and derivatives. With an excellent web platform, developer tools and dynamic charts, OKX is a popular choice for technical traders.
Brokers With INR Accounts Comparison
| Broker | INR Account | Minimum Deposit | Markets | Regulator |
|---|---|---|---|---|
| Interactive Brokers | ✔ | $0 | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| Zacks Trade | ✔ | $2500 | Stocks, ETFs, Cryptos, Options, Bonds | FINRA |
| Exness | ✔ | $10 | CFDs, Forex, Stocks, Indices, Commodities, Crypto | CySEC, FCA, FSCA, CMA, FSA, CBCS, BVIFSC, FSC, JSC |
| Quotex | ✔ | $10 | Binary Options on Stocks, Indices, Forex, Commodities, Cryptos | - |
| OKX | ✔ | 10 USDT | Spot, futures, perpetual swaps, options | VARA |
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Christian Harris, Reviewer
Interactive Brokers Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower |
| Minimum Deposit | $0 |
| Minimum Trade | $100 |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Pros
- While primarily geared towards experienced traders, IBKR has made moves to broaden its appeal in recent years, reducing its minimum deposit from $10,000 to $0.
- IBKR continues to deliver unmatched access to global stocks with tens of thousands of equities available from 100+ market centres in 24 countries, most recently the Saudi Stock Exchange.
- IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account.
Cons
- You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
- TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
- IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
Zacks Trade
"Zacks Trade will suit active day traders with experience using powerful platforms. Fees and margin rates are low while the market research is excellent."
Tobias Robinson, Reviewer
Zacks Trade Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Stocks, ETFs, Cryptos, Options, Bonds |
| Regulator | FINRA |
| Platforms | Own |
| Minimum Deposit | $2500 |
| Minimum Trade | $3 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF |
Pros
- Demo account
- 20+ account denominations
- Comprehensive research and data
Cons
- No MT4 or MT5 platform integration
- No forex, commodities or futures trading
- Shortcomings regarding platform loading times and technical glitches
Exness
"After slashing its spreads, improving its execution speeds and support trading on over 100 currency pairs with more than 40 account currencies to choose from, Exness is a fantastic option for active forex traders looking to minimize trading costs."
Exness Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, Crypto |
| Regulator | CySEC, FCA, FSCA, CMA, FSA, CBCS, BVIFSC, FSC, JSC |
| Platforms | Exness Trade App, Exness Terminal, MT4, MT5, TradingCentral |
| Minimum Deposit | $10 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:Unlimited |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, DKK, CHF, HKD, SGD, AED, SAR, HUF, BRL, NGN, THB, VND, UAH, KWD, QAR, KRW, MXN, KES, CNY |
Pros
- Fast and dependable 24/7 multilingual customer support via telephone, email and live chat based on hands-on tests.
- Exness was the first brokerage to pass the $1 trillion and $2 trillion marks in monthly trading volumes, highlighting its legitimacy.
- Improved execution speeds, now averaging under 25ms, offer optimal conditions for short-term traders.
Cons
- MetaTrader 4 and 5 are supported, but TradingView and cTrader still aren’t despite rising demand from active traders and integration at alternatives like Pepperstone.
- Apart from a mediocre blog, educational resources are woeful, especially compared to category leaders like IG which provide a more complete trading journey for newer traders.
- Exness has expanded its range of CFDs and added a copy trading feature, but there are still no real assets such as ETFs, cryptocurrencies or bonds
Quotex
"Quotex is ideal for binary traders looking to make short-term trades on global markets with above-average payouts of up to 95% and a platform that’s regularly improved, features daily trading signals, and proved intuitive for new users during testing. "
Quotex Quick Facts
| Bonus Offer | 30% Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | Binary Options on Stocks, Indices, Forex, Commodities, Cryptos |
| Platforms | Web Platform |
| Minimum Deposit | $10 |
| Minimum Trade | $1 |
| Account Currencies | USD, EUR, GBP, INR, JPY, MYR, IDR, RUB, BRL, NGN, THB, VND, UAH |
Pros
- Quotex lets you start trading with just $10, making it accessible for beginners and those wanting to test the platform with minimal risk. Withdrawals also start from $10, allowing easy access to funds.
- A free demo account with $10,000 in virtual funds lets new traders practice strategies and test the platform without risking real money. It's an excellent tool for beginners to gain experience.
- The web-based platform and app are intuitive based on our hands-on tests, with a clean design and simple order execution. They include multiple indicators and built-in trading signals, making them practical solutions for both beginners and more experienced traders.
Cons
- Quotex offers few market analysis tools and lacks real-time financial news, economic calendars, or in-depth research reports. Educational resources, such as courses, webinars, and expert insights, are also absent, making it less ideal for beginners.
- Customer service is only available via email and social media, which can lead to slow response times in our experience. Competitors like Videforex provide 24/7 live chat and phone support, ensuring you get help quickly during technical or withdrawal problems.
- Quotex is an offshore broker operating in a jurisdiction known for loose regulatory oversight. Unlike regulated brokers, it does not offer the same level of investor protection, dispute resolution, or fund security, making it riskier.
OKX
"OKX is a top pick for crypto traders looking for emerging coins and crypto projects to invest in. Traders can also make use of the broker's copy trading service and automated bots."
William Berg, Reviewer
OKX Quick Facts
| Bonus Offer | $10 in BTC |
|---|---|
| Demo Account | Yes |
| Instruments | Spot, futures, perpetual swaps, options |
| Regulator | VARA |
| Platforms | AlgoTrader, Quantower |
| Minimum Deposit | 10 USDT |
| Minimum Trade | Variable |
| Account Currencies | USD, EUR, GBP, INR, JPY, SGD, RUB, AED, SAR |
Pros
- OKX maintains an excellent reputation with 20 million global clients and a license from the Dubai Virtual Assets Regulatory Authority
- There's a vast developer lab plus access to a marketplace of pre-built trading bots with auto-arbitrage
- Active traders can expect competitive maker and taker fees, from 0.02% and 0.05%, respectively
Cons
- The quality of customer support was inconsistent based on testing
- The firm offers limited regulatory oversight, though this is common among crypto brokers
- The broker's platform and features may be complex for novices
How Did We Choose The Best Brokers?
To identify the top brokers with INR accounts we:
- Leveraged our directory consisting of 219 brokers and trading platforms
- Pinpointed those offering an account based in Indian Rupees
- Ranked them by their rating, combining 100+ data points with our personal testing observations
What Is An INR Account?
An INR account is a trading account in which the balance is denominated in Indian Rupees.
This means that the cash you hold or instruments you trade will be displayed in INR. It will also be the currency used for establishing margin requirements – a popular approach used by day traders.
You can see an example where I signed up for an INR account at Interactive Brokers below.
Do I Need An INR Trading Account?
This account may be appropriate if:
- You live in India and earn money in INR as it’s economical to operate a trading account in the same currency.
- You frequently trade currency pairs that contain the INR, such as USD/INR and EUR/INR, because it reduces the need for conversion and associated charges.
- You actively trade Indian equities listed on the National Stock Exchange of India as transactions are often faster and you don’t need to manage multiple currencies and exchange rates.
How Can I Check If A Broker Offers An Account In Indian Rupees?
Use these straightforward steps, which we took to check all our suggested trading platforms offer an INR account:
- Go to the account types page on the broker’s website to find a selection of ‘base currencies’.
- Confirm that ‘INR’ is available as a supported account currency for your country.
- Open a live or demo account and select ‘INR’ as your base currency.
Changing your INR account to another currency is hassle once operational so make sure it’s what you want before signing up.
Pros & Cons Of INR Trading Accounts
Pros
- Our tests show brokers with INR accounts often tailor their trading services to Indians in other ways, for example, providing localized customer support (available at Interactive Brokers) and Islamic accounts (Islam is India’s second-largest religion).
- They can reduce conversion fees when trading in Rupees. This can save frequent traders, such as day traders, money as if you want to deposit INR to an account based in the USD, for example, some firms like IG charge 0.8% on top of the prevailing exchange rate from various banks.
- For Indian day traders, they offer a convenient way to manage a high volume of trades and costs in a familiar currency, helping not to overwhelm newer investors especially.
Cons
- Although there’s an increasing number of trading platforms with INR accounts, they are still pretty uncommon (less than 10% of brokers we’ve evaluated), meaning you’ll have fewer first-rate firms to choose from.
- While the INR is a fairly stable currency (among its least volatile in the last 20 years according to Business Standard), maintaining balances in it will open you up to any fluctuations caused by changing oil prices for instance (India is a major oil importer).
- The Indian Rupee still has relatively limited trading volumes compared to the likes of the US Dollar and British Pound, in part due to its status as an emerging economy and strict capital controls, so short-term trading the INR with other currencies may result in wider spreads.
- Trading in popular international assets, such as US equities, may result in a conversion fee if your cash is in INR with Admirals, for example, charging 0.3% if you hold your balance in a non-USD account.
FAQ
Which Is The Best Broker With A INR Account?
See our ranking of the top-rated brokers with INR accounts to find the right platform for you.
How Much Does It Cost To Open A Trading Account Based In Indian Rupees?
You’ll need up to 250 USD, around 20,850 INR, to open a trading account based in Indian Rupees following our evaluations of 219 brokers, over 10 of which support INR trading accounts.
However, Interactive Brokers stands out with no minimum deposit in INR, making it the best option for budget traders.
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