NSE Currency Derivatives through a Stockbroker: Eligibility, Exposure Rule, Charges, Tax and Complaints
This article profiles the currency derivatives service offered by Zerodha Broking Limited on the NSE, covering who provides it, who may trade, what it costs and how results are taxed.
Practitioners are often asked whether a retail client can "trade forex" through a mainstream stockbroker and what that involves. The answer depends on the exchange segment, the RBI exposure requirement and the client's tax position. The details below were checked on or about 20 October 2026 against the broker's support and charges pages, the SEBI intermediary portal, RBI foreign-exchange directions and NSE product pages. The profile is not a ranking or an endorsement, and the live official pages control.
Provider and registration
- Entity: Zerodha Broking Limited, CIN U65929KA2018PLC116815.
- SEBI stockbroker registration: INZ000031633. The firm is a member of NSE and BSE.
- The service is delivered through the Kite platform.
- Commodity trading is handled by a separate entity, Zerodha Commodities Private Limited.
Registration as a stockbroker does not authorise every foreign-exchange product. The service is far narrower than offshore spot, CFD or leveraged forex offerings, and platform access or KYC is not proof that a given transaction is lawful or suitable for the client.
What is and is not available
Available. NSE currency futures and options on USDINR, EURINR, GBPINR and JPYINR, after the currency segment is enabled and a declaration is submitted.
Not available. Cross-currency contracts such as EURUSD, GBPUSD and USDJPY. BSE currency derivatives through the broker were discontinued from 30 January 2025.
Lot sizes. USDINR, EURINR and GBPINR contracts are for 1,000 units of the foreign currency. JPYINR is 100,000 yen. Contract specifications, expiry, tick sizes and trading hours should be confirmed on the NSE.