FxPro's websiteHeadway in India — review, licence and costs
Score (6 of 6 axes scored)
ranked against full-basis brokers
- Reviews25%50
- Round-turn cost20%100
- Safety20%0
- Payouts15%99.6
- Track record10%20
- Platforms10%no data
Numbered by weight: axis 1 counts for most.
Key facts (6 facts)
- Onboarding entity
- Marketed/served offshore under Jarocel (Pty) Ltd; Headway publishes India-facing MT4 guidance.
- Founded
- 2022
- Retail leverage
- unlimited group
- Round turn
- 3 USDIN
- Currencies
- No INR base currency (USD/EUR default).
- Swap-free account
- yes
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Licence check
Who actually onboards you
- Entity that onboards India residents
- Marketed/served offshore under Jarocel (Pty) Ltd; Headway publishes India-facing MT4 guidance.
- Local standing
- Offshore/unauthorised for Indian residents; OTC margin FX on non-INR pairs violates FEMA/SEBI, exposed to ED penalties.
- Licence as the register states it
- No SEBI/RBI licence; onboarded under South Africa FSCA entity (lic. 52108).
- Leverage for this entity
- Up to 1:unlimited after 5 std lots; ~1:2000 under $5k, 1:1000 standard.
- The firm behind it
- Headway brand of Jarocel (Pty) Ltd; founded ~2019 (some sources 2022); offshore.
- What we hold against it
- WikiFX complaint blacklist; withdrawal/bonus-trap complaints; legal grey zone for Indian residents.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Indian residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youOffshore/unauthorised for Indian residents; OTC margin FX on non-INR pairs violates FEMA/SEBI, exposed to ED penalties.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against India market median(priced from 65 of 90)
Medians run over the 65 of 90 brokers that publish a price for India, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Cent, Standard, Pro, Islamic, Demo. The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Where Headway sits in the India base(90 brokers)
Round-turn cost, USD (65 of 90 priced)
Median 7 USD · range 2-18 · this broker 3 USD · 25 of 90 brokers do not publish it
Minimum deposit, USD (16 of 90 priced)
Median 15 USD · range 0-1000 · this broker 1 USD · 74 of 90 brokers do not publish it
Retail leverage (49 of 90 with a India figure)
Median 1:500 · range 20-5000 · 41 of 90 brokers do not publish it
Withdrawal time published (90 brokers)
Payouts
Identical for every row: Deposit, h 24 · Fee, USD 0 · Min, USD 50.
Deposit and withdrawal methods (4 methods · 1 local)
Cards, e-wallets, crypto;
- Cards
- E-wallets
- Crypto
- UPIlocal
- Account currency
- No INR base currency (USD/EUR default).
- Fee declared
- 4 of 4 methods
- Withdrawal back to
- the funding method
Where it does not serve(2 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(4 platforms)
- MT4
- MT5
- Headway App
| Class | Count | Min spread |
|---|---|---|
| MT4 | — | 0.3 |
| MT5 | — | 0.3 |
| Headway App | — | 0.3 |
| All instruments | 350+ | — |
138 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard, Pepperstone no minimum deposit, Trade Nation Two live tiers - lower-leverage and 132 more.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.0 | — |
Share of reviewers in India: — The platform does not publish it.
Pros and cons(6 for and 3 against, each tied to a figure on this page)
- Round turn 3 USD on the raw + commission basis, under the India median 7
- Min deposit 1 USD, under the India median 15
- Withdrawal in 0.5 h, one of 74 of 90 brokers here that publish a time
- Swap-free account available
- Round-turn cost 100 of 100, its strongest of 6 scored axes
- 3 platforms: MT4, MT5, Headway App
- No India authorisation on file: the entity that onboards you is licensed elsewhere
- A regulator warning is on file against this broker
- Safety 0 of 100, its weakest of 6 scored axes
Alternatives in India(6 of 90 scored in India)
- Round turn, USD
- 3.5IN
- Min deposit, USD
- 5IN
- Leverage
- 1000IN
- Rank in this country
- #31
- Round turn, USD
- 3IN
- Min deposit, USD
- 1 groupIN
- Leverage
- 500IN
- Rank in this country
- #33
- Round turn, USD
- 3.1IN
- Min deposit, USD
- 1 groupIN
- Leverage
- 2000IN
- Rank in this country
- #43
- Round turn, USD
- 4IN
- Min deposit, USD
- 10 groupIN
- Leverage
- 2000IN
- Rank in this country
- #48
- Round turn, USD
- 3IN
- Min deposit, USD
- 50IN
- Leverage
- 1000IN
- Rank in this country
- #28
- Round turn, USD
- 4IN
- Rank in this country
- #4
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a India score. Full methodology
| Axis | Weight | What is measured | Headway |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 50 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 100 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 0 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 100 |
| Track record | 10% | Years since the firm was founded, from its own filings | 20 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 50 |
FAQ
- Does Headway accept residents of India?
- No. Offshore/unauthorised for Indian residents; OTC margin FX on non-INR pairs violates FEMA/SEBI, exposed to ED penalties. Onboarding entity: Marketed/served offshore under Jarocel (Pty) Ltd; Headway publishes India-facing MT4 guidance.
- Is Headway licensed to serve clients in India?
- No SEBI/RBI licence; onboarded under South Africa FSCA entity (lic. 52108). Checked on 09.07.2026.
- How much does one round turn cost at Headway?
- About 3.0 USD per standard lot on EUR/USD. The median across brokers measured for India is 7.0 USD.
- Which trading platforms does Headway support?
- MT4, MT5, Headway App. Instruments: FX, commodities, indices, stocks, crypto, synthetics (400+).
- How can I withdraw money from Headway in India?
- Cards, e-wallets, crypto; UPI/local INR rails not verified at review.
- What account types does Headway offer?
- Cent, Standard, Pro, Islamic, Demo.
- Does Headway offer a swap-free (Islamic) account?
- Yes. Headway offers a swap-free (Islamic) account to India residents.
Cost calculator (median of 65 priced of 90)
EURUSD round turns at the prices captured 01.10.2026. Shown in USD only: we do not publish a INR conversion because the exchange rate is not part of our data.