The Reserve Bank of India (RBI) on Friday issued an updated alert list of entities which are not authorised to deal in foreign exchange (forex) transactions or operate electronic trading platforms (ETPs) for forex.
The alert list contains the names of entities that do not hold the necessary authorisation under the Foreign Exchange Management Act, 1999 (FEMA) or the Electronic Trading Platforms (Reserve Bank) Directions, 2018, the central bank informed.
RBI alert list of unauthorised forex trading platforms
Sr. No | Name | Website |
1 | Alpari | |
2 | AnyFX | https://anyfx.in |
3 | Ava Trade | |
4 | Binomo | |
5 | eToro | |
6 | Exness | |
7 | Expert Option | |
8 | FBS | https://fbs.com |
9 | FinFxPro | |
10 | Forex.com | |
11 | Forex4money | |
12 | Foxorex | |
13 | FTMO | |
14 | FVP Trade | |
15 | FXPrimus | |
16 | FXStreet | |
17 | FXCM | |
18 | FxNice | |
19 | FXTM | |
20 | HotForex | |
21 | ibell Markets | |
22 | IC Markets | |
23 | iFOREX | |
24 | IG Markets | |
25 | IQ Option | |
26 | NTS Forex Trading | |
27 | OctaFX | |
28 | Olymp Trade | |
29 | TD Ameritrade | |
30 | TP Global FX | |
31 | Trade Sight FX | |
32 | Urban Forex | |
33 | XM | |
34 | XTB |
The RBI has also urged the public to verify the authorisation status of any person or ETP before engaging in any forex transactions. The list of authorised persons and ETPs can be accessed on the RBI's official website.
The central bank also emphasised that engaging in unauthorized forex transactions or using unauthorised ETPs could lead to financial losses and other risks.
Additionally, the RBI warns that not appearing in the list does not imply that an entity is authorised by the central bank.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Prajwal Revanna Sexual Assault Case: Activist raises concerns over political interference, delayed investigation in the matter
Apr 30, 2024 10:17 PM
Lok Sabha Election 2024: Baramati election outcome will decide the future of Pawar dynasty, says expert
Apr 30, 2024 10:08 PM
Lok Sabha elections 2024: Baramati to Mainpuri, key battles in phase 3
Apr 30, 2024 7:01 PM