By Rohan Shah · · UPI Payment Rails for Trading Platforms
Updated April 2026 · 8 min read
Complete guide to upi withdrawal forex for Indian forex traders using UPI deposits on Exness and XM. Both Exness and XM accept UPI deposits from Indian traders with instant processing and zero fees. This guide covers everything you need to know about upi withdrawal forex in 2026.
Broker Comparison
Feature
Exness
XM
Min UPI Deposit
₹840 (~$10)
₹400 (~$5)
Deposit Speed
5-12 seconds
10-20 seconds
Deposit Fee
Free
Free
Signup Bonus
None
$30 no-deposit
EUR/USD Spread
0.6 pips (Std)
0.6 pips (Ultra Low)
Withdrawal Speed
22 seconds (e-wallet)
24 hours
Max Leverage
Unlimited
1:1000
Instruments
200+
1,000+
Regulation
FCA, CySEC
CySEC, ASIC
UPI Apps Supported
Google Pay, PhonePe, Paytm, BHIM
Google Pay, PhonePe, Paytm, BHIM
How to Deposit via UPI
Log in to your broker account (Exness Personal Area or XM Members Area)
Click Deposit and select the UPI payment method
Enter amount in INR (minimum ₹840 on Exness or ₹400 on XM)
QR code appears on screen with a payment link
Open your UPI app (Google Pay, PhonePe, Paytm, or BHIM)
Scan the QR code using your app's scanner
Verify amount and select your linked bank account
Enter UPI PIN to authorize the payment
Funds credited to your trading account in 5-20 seconds
The INR amount is automatically converted to USD at the interbank exchange rate with zero markup. Both brokers charge no fees for UPI deposits. You can start trading immediately after the deposit is credited.
Withdrawal Options for Indian Traders
While UPI deposits are instant, withdrawal options differ between brokers. Exness leads with 22-second e-wallet withdrawals, the fastest in the industry. XM processes withdrawals within 24 hours. Neither broker currently supports direct UPI withdrawals — the fastest path is broker to e-wallet (Skrill/Neteller) to Indian bank account.
Exness to Skrill: 22 seconds average
XM to Skrill: Up to 24 hours
Skrill to Indian bank: 1-2 business days
Broker to bank wire: 1-3 business days (both brokers)
For the fastest access to your funds, set up a Skrill account and link it to your Indian bank. Deposit via UPI, trade, and withdraw profits through Skrill. See broker comparison for details.
Withdrawal Methods for Indian UPI Traders
Method
Exness
XM
Speed
Fee
UPI / Local Bank
Yes
Yes
Same day - 24 hours
Free
Bank Wire (NEFT)
Yes
Yes
1-3 business days
Free
E-wallet (Skrill/Neteller)
Yes
Yes
Exness: 22 sec, XM: 24 hours
Free
Crypto (USDT/BTC)
Yes
No
Network dependent (1-60 min)
Free (Exness side)
Minimum withdrawal
$1
$5
-
-
Step-by-Step: Withdraw to Indian Bank via UPI/Bank Transfer
Exness Withdrawal
Log in to Exness Personal Area (pa.exness.com)
Click "Withdrawal" next to your trading account
Select "UPI" or "Local Bank Transfer"
Enter the withdrawal amount in USD (auto-converted to INR at interbank rate)
Confirm your bank details (bank name, IFSC, account number)
Submit — processing starts immediately
Funds arrive in your bank: same day to 24 hours
XM Withdrawal
Log in to XM Members Area (my.xm.com)
Click "Withdraw Funds"
Select "Local Bank Transfer - India"
Enter amount and bank details
Submit — XM processes within 24 hours (business days)
Funds arrive in your bank: 1-3 business days after processing
Withdrawal Speed: Exness vs XM
Metric
Exness
XM
Processing start
Instant (automated 24/7)
During business hours (manual review)
E-wallet arrival
22 seconds average
24 hours
Bank transfer arrival
Same day - 24 hours
2-5 business days
Weekend processing
Yes (automated)
No (next business day)
Minimum withdrawal
$1
$5
Exness has a decisive advantage on withdrawals. Their automated system processes requests 24/7, including weekends and holidays. XM requires manual review during business hours. For Indian traders who want quick access to their profits, Exness is significantly faster.
Withdrawal Rules You Must Know
Same method rule: Both brokers require you to withdraw to the same method you deposited from. If you deposited ₹10,000 via UPI, your first ₹10,000 withdrawal must go back to the same UPI/bank. Profits above the deposit amount can be withdrawn to any method.
Verification required: You must complete full KYC verification before any withdrawal. Upload Aadhaar/PAN and proof of address before you need to withdraw.
Open trades: You can withdraw while trades are open, but ensure remaining margin is sufficient. If withdrawal would cause margin call, it will be rejected.
Bonus funds: XM's $30 bonus and deposit bonuses cannot be withdrawn directly. Only profits earned from trading the bonus are withdrawable (after meeting volume requirements).
Tax on Forex Withdrawals in India
Withdrawing forex profits to your Indian bank account has tax implications:
30% tax on net trading profits (after deducting losses within the same year)
Speculative income classification: Forex/CFD trading is classified as speculative business income
No TDS by broker: International brokers do not deduct tax at source. You must self-report and pay
XM at ₹400 (~$5) plus a $30 no-deposit bonus. Exness requires ₹840 (~$10) minimum.
Are UPI forex deposits instant?
Yes, both Exness (5-12 sec) and XM (10-20 sec) process UPI deposits in real time.
Is there a fee for UPI deposits?
No, completely free. No fees from broker, bank, or UPI app. Conversion at interbank rate with zero markup.
Risk Disclaimer: Trading forex and CFDs involves significant risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Verify that forex trading is legal in your jurisdiction before opening an account. This article contains affiliate links.