CFDs carry a high risk of losing money rapidly due to leverage.
The First Question: What Does It Cost to Trade One Standard Lot?
Before looking at platforms or asset lists, let's price out the actual cost of a single round-turn trade on EUR/USD. This is the number that matters most. The table below breaks down the raw cost structure for a standard lot (100,000 units).
| Cost Component | Raw Account | Standard Account |
|---|---|---|
| Spread (EUR/USD) | From 0.0 to 0.1 pips | ~1.0 to 1.2 pips |
| Commission (per side) | USD 3 | None |
| Total Commission (round-turn) | ~USD 6 | None |
| Total Cost (approx.) | ~USD 6.10 - 7.60 | ~USD 10.00 - 12.00 |
On the Raw account, you pay a tiny spread and a fixed per-lot commission. On the Standard account, you pay no commission, but the spread is significantly wider and acts as the broker's fee. For a high-volume trader, the Raw account's lower total cost is typically the more rational choice, provided you open your account with the offshore entity and are comfortable with the associated legal grey area in India.
Regulatory Status in India: What You Need to Know
FP Markets has no SEBI registration, and Indian retail clients are onboarded via the offshore arm, FP Markets LLC, an SVG / Seychelles FSA entity. Trading offshore FX/CFDs under RBI/FEMA rules is a legal grey area for Indian residents, and remitting funds abroad for margin forex trading is not a permitted LRS purpose.
Cost & Fee Breakdown: The True Price of Trading
The cost to trade is determined by two primary account structures.
| Account Feature | Raw Account | Standard Account |
|---|---|---|
| Spread Model | From 0.0 pips | From 1.0 pips |
| Commission | ~USD 3 per side | None |
| Platforms | MT4, MT5, cTrader, TradingView | MT4, MT5, cTrader, TradingView |
| Minimum Deposit | USD 100 | USD 100 |
A swap-free Islamic account option is available. No India-specific promotions were verified at the time of the review.
Leverage and Account Types: Offshore vs. Local Realities
The offshore entity offers leverage up to 1:500. This is far beyond what is available locally, where SEBI-regulated exchange-traded currency derivatives require margins of roughly 3–5% (approximately 20–30x leverage).
| Feature | FP Markets (Offshore) | SEBI-Recognised Exchanges (NSE/BSE/MSE) |
|---|---|---|
| Regulatory Oversight | SVG / Seychelles FSA (offshore) | SEBI & RBI |
| Retail Leverage | Up to 1:500 | ~20–30x (SPAN + Exposure margins) |
| Instruments | 10,000+ CFDs (FX, indices, etc.) | INR currency pairs, certain cross-currency derivatives |
| Funding Currency | USD, EUR, GBP, AUD | INR (settled locally) |
The legal channel for currency trading in India is through SEBI-recognised exchanges. For traders seeking international diversification, the choice must be made with full knowledge of the regulatory gap and the weaker investor protection that comes with an offshore license.
Platforms, Instruments, and Trade Execution
FP Markets provides access to MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and TradingView. IRESS is available only for Australian clients.
Instrument coverage includes over 10,000 CFDs, spanning 60+ FX pairs, indices, commodities, shares, ETFs, bonds, and crypto CFDs.
Tax and Compliance Basics for Indian Traders
Exchange-traded currency futures and options profits are generally treated as non-speculative business income and taxed at your individual income-tax slab rates.
Given the legal constraints, the tax treatment of any income from offshore trading is complex. Verify your specific situation with a qualified tax advisor familiar with FEMA and the Income Tax Act. The RBI and SEBI websites are the authoritative sources for verifying any entity's status.
Caveats Worth Noting
Treat this as an offshore, high-risk trading arrangement, not as a locally regulated financial service.
Summary and Verdict
Open an account ifyou are a sophisticated, high-volume trader who understands the regulatory limits in India and is willing to accept the risk of trading with an offshore entity to access tight spreads and the full MT4/MT5/cTrader suite. The Raw account's cost structure is competitive globally, and you are comfortable with funding via international cards or wires.
Avoid ifyou are a new trader or unprepared to operate in a legal grey area. If you require SEBI oversight, INR-denominated accounts, or a clearer compliance picture, consider a more strictly regulated international broker with FCA/CySEC/ASIC regulation. For most Indian residents, the safer route is to trade INR derivatives on SEBI-recognised exchanges (NSE, BSE, MSE), or to choose an international broker with top-tier regulation that offers a more transparent relationship.
Open an account
Register with FP Markets and confirm your email address.
Verify your identity
Upload ID and proof of address to unlock withdrawals.
Fund your account
Deposit the minimum via card, wire or crypto.
Place your first trade
Open the platform and trade your first market.
Is FP Markets legal in India?
FP Markets has no SEBI registration and is not authorised to solicit Indian residents. Trading spot forex or CFDs with offshore brokers is prohibited for residents under RBI/FEMA regulations, and remitting funds for this purpose is not a permitted LRS end-use.
Can I open an account with FP Markets from India?
Indian retail clients are onboarded via the offshore arm, FP Markets LLC, an SVG / Seychelles FSA entity. You can open an account, but doing so means operating outside the legal framework for Indian residents, which involves significant legal and financial risk.
What is the legal way to trade forex in India?
The legal channel is to trade INR currency pairs (USD/INR, EUR/INR, GBP/INR, JPY/INR) and permitted cross-currency derivatives on SEBI-recognised exchanges like NSE, BSE, and MSE. This requires a SEBI-registered broker and a PAN card for KYC.
How does the 1:500 leverage at FP Markets compare to local options?
1:500 is substantially higher than the ~20–30x margin on SEBI-regulated exchange-traded derivatives. This higher leverage carries a correspondingly higher risk of significant losses.