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Forex trading in India is governed by strict regulations under the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI), allowing trading only in specific currency pairs involving the Indian Rupee (such as USD/INR, EUR/INR, GBP/INR, and JPY/INR). As a result, the top forex brokers in India are primarily those that are SEBI-registered and offer INR-based currency trading through recognized stock exchanges like NSE and BSE. Some of the most trusted and popular brokers include Zerodha, Upstox, Angel One, ICICI Direct, and HDFC Securities. These platforms provide legal, transparent, and user-friendly environments for currency trading with proper compliance and customer support. It’s important to avoid unregulated or offshore forex brokers, as trading with them can lead to legal issues and financial risks under the Foreign Exchange Management Act (FEMA). Choosing a SEBI-regulated broker ensures safety, reliability, and alignment with Indian laws.