Broker and prop firm software for Mumbai operators.

Mumbai produces more trading-firm founders than almost any city we deal with, and almost none of them are licensing a retail CFD brokerage inside India. That is the first thing worth saying plainly, because a lot of vendor marketing aimed at Indian founders is quietly dishonest about it.

SINGUARD is a software company. We have no office, no entity, no staff and no licence in India. We build the trading platform and the back office that firms use, wherever those firms are licensed, and our team travels to industry events where founders from Mumbai turn up. Licensing, client money and compliance stay with your firm.

Who this page is for

Founders and operators in Mumbai who are building one of three things. A brokerage licensed in another jurisdiction and serving clients outside India. A prop firm selling evaluation accounts. Or a technology and operations team in Mumbai supporting a group whose regulated entity sits elsewhere, which is an extremely common structure and often the reason the founder is reading this page at all.

The regulatory backdrop in India

India's securities market is supervised by SEBI, the Securities and Exchange Board of India, and exchange-traded currency derivatives run through recognised exchanges under SEBI's rules with the Reserve Bank of India setting the foreign exchange perimeter under FEMA. The practical consequence is that retail over-the-counter forex and CFD trading of the kind sold by offshore brokers is not an onshore retail product, and marketing it to Indian residents is not a grey area you can engineer around with a payment gateway. SEBI and the RBI have both been public about unauthorised platforms.

Everything in that paragraph is description, not advice. What your specific business may or may not do is a question for Indian counsel and for the regulators themselves. What we will say as a vendor is that we build software for licensed operating firms, and we expect you to know which regime you are operating under before you sign anything. The mechanics of checking any counterparty are in how to check a broker licence, and the way leverage rules differ market by market is covered in leverage limits by country.

What SINGUARD supplies

eTrader is the trading platform. Web, iOS and Android, with the market data feed included rather than billed separately, charts and order tickets built for people who trade from a phone as often as a desk. Your brand on the client side.

The Broker CRM runs the firm: client records, KYC state, deposits, withdrawals, per-server instrument and markup configuration, reporting and an audit trail. The Prop Firm CRM runs the evaluation side: challenge templates, daily and overall drawdown, consistency and prohibited-strategy detection, payout approval queues. If you are pricing the prop route, what it costs to start a prop firm is a more useful starting point than any vendor's brochure.

All of it is fully managed by us. Once your own licensing and paperwork are in place, we can have you live in 24 hours.

Payments and the India reality

Payments are the hardest part of any structure with an Indian client or an Indian founder, and pretending otherwise wastes everyone's time. Domestic rails are built around UPI and the banking system under RBI oversight, and cross-border flows sit under FEMA and the Liberalised Remittance Scheme. Card acquiring for anything in the trading category is high-risk merchant territory with the approval rates and rolling reserves that come with it. Read UPI and India payments, high-risk merchant accounts and payment approval rates before you build a revenue model on assumptions.

Our role is narrow and useful: every provider you sign is integrated into the CRM, so deposits, withdrawals, holds and failures reconcile against the client record automatically. The merchant contracts are yours.

Language, time zone and team shape

Mumbai runs on UTC+5:30. Your desk covers the Asian session in full, has a long overlap with London and can staff the New York open with an evening shift, which is why so many groups put operations and support here even when the licensed entity is somewhere else. Client-facing language is usually English first, with Hindi and often Marathi, Gujarati or Tamil in support depending on the book. The portal is multilingual out of the box.

The structural pattern we see most from Mumbai is a lean founding team, a licensed entity in a jurisdiction like the UAE or an offshore centre, and a Mumbai operations bench. It is the same split we describe on our Kuala Lumpur page and our Jakarta page. The full set is on the locations index.

Talk to us

Alex Onta built eTrader with Roman Onta helping on design, and Alex leads it. Alex Onta and Roman Onta built the Prop Firm CRM, the Broker CRM, Scalegram and CopySignals together and carry compliance, payments and corporate structuring together. Book a call or text us and describe the structure you are working with. If the software is not right for you, we will say so.

Where SINGUARD is based, and where we meet firms in Mumbai

All of the software, the contracts and the policies come from SGHK Softwares Limited in Hong Kong, the holding company that builds and licenses eTrader and both CRMs. The team works out of Dubai, where both Executive Directors, Alex Onta and Roman Onta, live for most of the year, and our licensed UAE entity is SINGUARD GLOBAL FZC in Ajman Free Zone. We hold no office or licence in India, and none is needed: the platform is delivered and managed from our own clustered servers, so a firm in Mumbai runs exactly what a firm anywhere else runs, and your licence, your client money and your compliance obligations stay entirely with your own entity.

Being in Dubai keeps the team on the industry circuit and within easy reach of Mumbai for calls and meetings, in a time zone that overlaps most of the trading world.

In person, the place to find us is the industry circuit. The team attends Forex Expo Dubai and the other major shows, wearing the SINGUARD and eTrader shirts, and you can walk up without an appointment, ask for a live demo of the terminal and both CRMs, and talk to the Executive Directors directly in English, Italian, Romanian or Russian. See where to find us at the expo.

Frequently Asked Questions

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