Dear Valued Customer,
We wish to bring to your attention that with reference to the Circular, Reserve Bank of India (RBI), has come across instances of various unauthorised entities offering foreign exchange (forex) trading facilities to Indian residents with promises of disproportionate/exorbitant returns.
These unauthorised entities are providing options to residents to remit/deposit funds in Rupees for undertaking unauthorised forex transactions using domestic payment systems like online transfers, payment gateways, etc.
With an intent to remain vigilant and preventing the misuse of banking channels facilitating unauthorised forex trading, we advise you to be more vigilant and exercise greater caution in this regard. It may please be noted that any non-compliant account shall be adequately reported to the regulatory authorities for further action, as deemed fit.
You are requested to deal in forex only with ‘Authorised Persons’ and on ‘Authorised Electronic Trading Platform (ETPs).
Alert list as published by RBI is appended for your ready reference. Please note that the list is subjected to change from time to time and accordingly, you are requested to keep yourself updated on a periodic basis.
Appended list of entities are neither authorised to deal in forex under FEMA, 1999 nor authorised to operate ETP for forex transactions under the Electronic Trading Platforms (Reserve Bank) Directions, 2018.
Alert list
Sr. No Name Website
1 Alpari https://alpari.com
2 Anyfx https://anyfx.in
3 Ava Trade https://www.avatrade.com
4 Binomo https://binomoidr.com/in
5 eToro https://www.etoro.com
6 Exness https://www.exness.com
7 Expert Option https://expertoption.com
8 FBS https://fbs.com
9 FinFxPro https://finfxpro.com
10 Forex.com https://www.forex.com
11 Forex4money https://www.forex4money.com
12 Foxorex https://foxorex.com
13 FTMO https://ftmo.com/en
14 FVP Trade https://fvpt-uk.com
15 FXPrimus https://fxprimus.com
16 FX Street https://www.fxstreet.com
17 FXCM https://www.fxcm.com
18 FxNice https://fx-nice.net
19 FXTM https://www.forextime.com
20 HotForex https://www.hotforex.com
21 ibell Markets https://ibellmarkets.com
22 IC Markets https://www.icmarkets.com
23 iFOREX https://www.iforex.in
24 IG Markets https://www.ig.com
25 IQ Option https://iq-option.com
26 NTS Forex Trading https://ntstradingrobot.com
27 OctaFX
https://octaindia.net
https://hi.octafx.com
https://www.octafx.com
28 Olymp Trade https://olymptrade.com
29 TD Ameritrade https://www.tdameritrade.com
30 TP Global FX https://www.tpglobalfx.com
31 Trade Sight FX https://tradesightfx.co.in
32 Urban Forex https://www.urbanforex.com
33 XM https://www.xm.com
34 XTB https://www.xtb.com
35 Quotex https://quotex.com
36 FX Western https://www.fxwestern.com
37 Pocket Option https://pocketoption.com
38 Tickmill https://www.tickmill.com
39 Cabana Capitals https://www.cabanacapitals.com
40 Vantage Markets https://www.vantagemarkets.com
41 VT Markets https://www.vtmarkets.com
42 Iron Fx https://www.ironfx.com
43 Infinox https://www.infinox.com
44 BD Swiss https://global.bdswiss.com
45 FP Markets https://www.fpmarkets.com
46 MetaTrader 4 https://www.metatrader4.com
47 MetaTrader 5 https://www.metatrader5.com
48 Pepperstone https://pepperstone.com
49 QFX Markets https://qfxmarkets.com/
50 2WinTrade https://www.2wintrade.com/
51 Guru Trade7 Limited https://www.gurutrade7.com/
52 Bric Trade https://www.brictrade.com/
53 Rubik Trade https://www.rubiktrade.com/
54 Dream Trade Mobile Application
55 Mini Trade Mobile Application
56 Trust Trade Mobile Application
57 Admiral Market https://admiralmarkets.com
58 BlackBull https://blackbull.com
59 Easy Markets https://www.easymarkets.com
60 Enclave FX https://enclavefx.com
61 Finowiz Fintech Limited https://finowiz.com
62 FX SmartBull https://www.fxsmartbull.com
63 Fx Tray Market https://www.fxtray.com
64 Forex4you https://www.forex4you.com
65 GoDo FX https://www.godofx.com
66 Growing Capital Services Ltd. https://www.growingcapital.uk
67 HF Markets https://www.hfm.com
68 HYCM Capital Markets https://hycm.com
69 JGCFX https://jgcfx.com
70 Just Markets https://justmarkets.com
71 PU Prime https://in.puprime.com
72 Real Gold Capital Ltd. https://www.realgoldcapitals.com
73 TNFX https://tnfx.co
74 Ya Markets https://www.yamarkets.com
75 Gate Trade Mobile Application