The Reserve Bank of India (RBI) on Wednesday released a list of entities not authorised to deal in forex. It had in February this year cautioned people not to undertake forex transactions on unauthorised electronic trading platforms (ETPs) or remit, or deposit money for unauthorised forex transactions.
Now, the central bank has placed on its website an “Alert List” of entities that are neither authorised to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA) nor authorised to operate electronic trading platforms for forex transactions.
The “Alert List” is not exhaustive and an entity not appearing in this list should not be assumed to be authorised by the RBI, it said. The RBI reiterated that resident persons can undertake forex transactions only with authorised persons and for permitted purposes, in terms of the FEMA.
List of unauthorised entities
1 Alpari
2 AnyFX
2 Ava Trade
4 Binomo
5 eToro
6 Exness
7 Expert
8 FBS
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
31 Trade Sight
32 Urban Forex
33 XM
34 XTB
