Copy Trading in India 2022

Best Online Social Trading in India

While copy trading in India hasn’t yet hit the heights of some other countries, interest has picked up in recent years. And we suspect – especially considering its trajectory elsewhere and the many logistical benefits – it may be set to snowball.

This guide is here to help you get an early start on many future investors by providing all the information you need to understand social investing in India and to find your perfect social trading platform in India.

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90/100
85/100
88/100

Compare the best online social trading platforms in India

Rating
90/100
Order Fee National
Order Fee International
Deposit Protection
Firstrade Review Visit Site
Rating
85/100
Order Fee National
0.00%
Order Fee International
0.00%
Deposit Protection
$250,000.00
Rating
88/100
Order Fee National
0.50%
Order Fee International
0.50%
Deposit Protection
£50,000.00
Rating
80/100
Order Fee National
Order Fee International
Deposit Protection

Who should make use of this India social trading comparison?

One thing that’s always an absolute top priority for us is accessibility and useability. As you’ll learn more about in this guide, it really is a key part of everything we do here – including our reviews. We don’t want the world of investment to be cut off from ordinary people.

That’s why all our guides are aimed at newcomers and experts alike. Whether you’re looking for the best social trading in Malaysia or the best social trading platform in India, we never want a lack of experience to be a barrier in getting the most out of our guides. So, in that regard, you could say that this guide to social investing in India is simply open to everyone interested in exploring copy trading in India.

Do note, though, we always recommend that for anyone looking to take the next step and actually utilise that social trading list in India, that greater research can only help. We’ll provide advice on how to approach that safely later in this guide.

That all said, this comparison is specifically directed at those from India. The reason for this geographical distinction is the same as if we were looking at social trading in Australia. That’s because every country has its own regulatory system and often its own platform and brokers to take into account. Put simply, the reason this is a look at India specifically is because we want our reviews and guidance to be as accurate and targeted as possible to provide maximum assistance in finding your best online trading platform.

Before we discuss the legal situation for a social trading platform in India, we want to caveat this by saying we’re not legal experts. Rather, this is our understanding of the situation based on our research. To put it simply, the legal situation is a grey one.

There is some question over the legality of copy trading in India because people are not allowed to render financial advice to another without a license. How this is interpreted is the subject of some debate.

As for us, where any of this falls legally is quite honestly a matter of interpretation and is one we can’t possibly give a definitive answer on. Nonetheless, while the best social trading in India becomes more competitive and popular, we imagine – and hope – that many of these legal matters will get cleared up, but there’s no guarantee.

Regardless of this legal situation, there can be no doubt that there are many-a social trading platform in India,  and this form of trading has great potential for growth. With regards to laws and regulation, our aim here is not to provide any conclusion, but merely to lay out the situation as best we can interpret.

Top 5 steps for a secure & fair Indian social trading experience

There’s nothing more important to us with regards to copy trading in India than your financial and personal safety. Of course, any investment comes with its own risks – whether we’re looking at the best social trading platform in the UK or the best online social trading in India. But that doesn’t mean you should go forward recklessly.

Simple mistakes can cost a lot of money, but the good news is that avoiding them often comes down to just a few simple steps:

Proceed with a realistic view of the risks

In every regard – whether it’s about the future of the copy trading platform in India or just to do with your personal investment level – it’s always a good idea to be realistic about your risks. Never assume the best. Always prepare for the worst, all while remaining optimistic about the future. That should set you up for the world of investments with the right attitude.

Keep an eye on the law

As discussed, the legal and regulatory situation in social investing in India is a complicated one, subject to a great deal of debate. You might say it’s currently in a state of uncertainty. Well, the reason we suggest you keep an eye on the law is because you never know when an uncertain situation might become a certain one. This may be in your favour or it may not be. Either way, you’ll want to keep your ears and eyes open for any relevant industry news.

Only use reputable trading platforms

One thing remains true wherever you’re investing and whatever the situation is in that jurisdiction – there’s a huge difference between a good and a bad trading platform. Our advice here is really simple: be diligent in your research of any potential broker or trading platform and have sky-high standards for security (look for encryption for starters) wherever you do business.

Never invest more than you can afford to lose

Having a realistic view of the risks means accepting one thing above all else: whatever you’re investing in, there’s a chance the investment doesn’t go your way. It may be very likely to be successful, and there’s every chance your investments will prove to be wise ones. But always keep that possibility in mind. Now, with that, always ensure that whatever amount you’re investing, it’s money you can afford to lose. This is one of the most vital elements of remaining safe while conducting investments of any kind.

Check out our reviews

Want a shortcut into finding a worthwhile social trading platform in India? Well, you’re in luck because that’s what our reviews are all about. They ensure that any platform you consider has a base level of quality before you start interpreting their suitability for your individual needs.

This is how our experts test Indian social trading brokers

Although a social investing platform in India might have unique considerations and challenges, the way we go about our reviews remains largely the same. Don’t get us wrong, we take their target audience deeply into consideration, but what makes a good broker in India largely makes one all across the world.

In fact, for all our careful examinations, what we’re looking for largely comes down to five key criteria:

Usability

As discussed before, one thing we consider to be extremely important is that investment is approachable and accessible for as many people as possible. That’s exactly what we’re looking out for here – how easy to use a broker/platform is and who it would be suitable for.

Trading platforms

There are many things which make a good trading platform. Firstly, there’s the technical side of things: where it’s available and how well it works. There’s also structure to consider: whether users can find everything they want. We also consider the issue of any fees and the general value of the service provided, to get an idea of how well it stacks up against the competition.

Account types

There are many different forms of investment suitable for all kinds of people. A good selection of account types should provide for them as well as possible. Essentially, what we are looking for here is account types that safely and fairly appeal to as broad a spectrum as can be reasonably expected.

Payment options

If you want to invest, you need to be able to pay for those investments. If your broker doesn’t offer anything suitable for you in terms of payment methods, then the rest of their quality to you may as well be irrelevant. So, the more legitimate options, the better – and the easier they are to use and the fairer the terms, the better still.

Customer support

No matter how good a broker or trading platform is, and no matter how thorough their Help section, sometimes you simply need to talk to someone to figure something out. That’s why we take customer service options and the quality and speed of response seriously in our reviews.

Check out our top-rated Social Trading in India:

90/100
Rating
FINRA - U.S. Financial Industry Regulatory Authority
Firstrade Stocks
Firstrade Review
Visit Site
Highlights
  • Trade in 5 US stock markets
  • Trade stocks after hours with extended hours
  • Low fees and no commissions
85/100
Rating
FINRA - U.S. Financial Industry Regulatory Authority
Robinhood Stocks
Highlights
  • Great investor protection
  • User-friendly web trading platform
  • Free US stock trading
88/100
Rating
Credit Card
CIMA - Cayman Islands Monetary Authority
FOREX.com Stocks
Highlights
  • 6 account base currencies provided
  • Variety of order types available
  • Great charting tools
80/100
Rating
Credit Card
FINRA - U.S. Financial Industry Regulatory Authority
TD Ameritrade Stocks
Highlights
  • Quality trading platform
  • Commission-free trading on stocks
  • Excellent research data and tools

Checklist: This is how you find YOUR perfect social trading broker in India!

While social investing in India hasn’t yet reached the heights of its potential, there’s already plenty of options for copy trading in India. With that in mind, it’s a good idea to get to grips with what you’re looking for from a broker.

Here are a few simple things to check off to see if the one you’re considering is worth your while. Do keep in mind too that we also look for all of these things and more when providing a review. But if we don’t yet have a review available – or you just want to interpret these things for yourself – this checklist should help. If you answer yes to all these questions, you may have found the right option for you.

  • Can I use the platform easily?Do I understand everything that is being offered to me?
  • Is it easy to find everything I want from this broker?
  • Are its security credentials clear and to a high standard?
  • Is it available on every platform I require (including mobile)?
  • Does it offer payment methods suitable for me?
  • Are the terms and conditions clear and easy to find?
  • Are any and all fees or charges fair?
  • Do other people largely seem satisfied with this broker?
  • Do they compare well to other brokers?

What else can you trade online in India?

As you can probably gather from this guide, the regulations surrounding finances in India are rather complicated. This may make you wonder what else is available to trade in India.

We’ll start off with the uncomplicated. Unlike social trading USA, there’s no doubt that CFD trading is prohibited and illegal in India. Despite many calls from brokerage firms, the government has not budged on this subject.

Regulator stocks and shares, however, are legal, as are ETF (exchange traded funds) – which is essentially a bundle of assets aimed at lowering your risk.

More in a grey area similar to social trading are cryptocurrencies, which are largely unrecognised as legal tender but can be taxed. Another confusing topic is forex trading. The simplest way of explaining this is that they can be legal, but are subject to very strict regulations.

Conclusion: An optimistic future for India’s social trading

We understand that this trading market is more complicated than some other places. However, we want you to keep three key things in mind, which we think point to a bright future for the social trading platform in India.

Firstly, this form of trading is growing, despite some teething pains in the country. Secondly, while the law is complicated, what you need to look for in terms of finding a secure and reputable broker remains largely the same as anywhere else. And thirdly, it’s still very early days for social investing in India – and it has already come so far so quickly. That means we remain optimistic for its growth in India and throughout the world.

Firstrade
90/100
Firstrade Review
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Social investing in India FAQ

🔒What steps can I take to remain safe while social trading in India?

There’s no doubt that the legal and regulatory situation surrounding social trading brokers in India is rather distinct to much of the world.  This has led to a great deal of confusion and questions surrounding how to remain safe using this form of investment. Our guide into the world of social trading focused on India aims to help you remain secure while trading.

❓What is the legal situation regarding social trading in India?

As is the case with many areas of financial law, it’s fair to say that the situation surrounding social trading and Indian law is complicated. Our guide aims to tackle this subject by providing you with an overview of the legal situation, so you can simply move forward with your investment with a broad overview of the current state of affairs.

👍What goes into your reviews of Indian social trading platforms?

We always aim for our reviews to be as comprehensive and informative as they can possibly be. This is the case for our Indian readers as it is for everybody else. In fact, because we consider our reviews to be so important , we’ve actually included a guide to our review criteria as part of our general comparison of social trading in India.

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