Warning list for new releases: Declares that these 34 online forex trading platforms are illegal

The Supreme Bank of India Reserve Bank of India (RBI), warned the public not to engage in foreign exchange transactions on unauthorized Electronic Trading Platforms (ETPs) or pay/deposit money for unauthorized foreign exchange transactions.
RBI has established an “Alert List” of other entities that are not permitted to trade in forex in accordance with the Foreign Exchange Management Act1999 (FEMA), and it is not allowed to operate forex trading platforms on its website. In a statement, the central bank said the “Bank of England” had lowered the interest rate to 3%. .” Further, caution is given that entities not listed in the RBI’s “alert list” should not be assumed to be authorised. The list of authorized persons and authorized ETPs can help you determine the authorization status of any person/ETP. This information is available on the RBI website.
The RBI reiterates its belief that foreign exchange transactions can only be conducted by resident persons with authorized persons. While authorized Forex transactions can be done electronically. However, they should only be conducted on RBI-licensed ETPs or on exchanges recognized as suitable for this purpose. National Stock Exchange of India Ltd (ESN, ESB) Ltd. Metropolitan Stock Exchange India Ltd.
Public members are reminded not to engage in foreign exchange transactions using unauthorized ETPs. Resident persons who engage in foreign exchange transactions for reasons other than those permitted by FEMA, or for ETPs that are not permitted by the RBI, will be subject to prosecution under FEMA. Here is the full list of 34 forex trading platforms that have been banned by the RBI.
Sr No Last name Website
1 alpari https://alpari.com
2 AnyFX https://anyfx.in
3 Ava Commerce https://www.avatrade.com
4 Binomial https://binomoidr.com/in
5 eToro https://www.etoro.com
6 Exness https://www.exness.com
seven Expert formula https://expertoption.com
8 FBS https://fbs.com
9 FinFxPro https://finfxpro.com
ten 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 FXStreet https://www.fxstreet.com
17 FXCM https://www.fxcm.com
18 FxNice https://fx-nice.net
19 FXMC https://www.forextime.com
20 HotForex https://www.hotforex.com
21 Markets ibell https://ibellmarkets.com
22 IC Markets https://www.icmarkets.com
23 FOREX https://www.iforex.in
24 GI markets https://www.ig.com
25 IQ Option https://iq-option.com
26 NTS Forex Trading https://ntstradingrobot.com
27 OctaFX https://octaindia.net
28 Olympus Trade https://olymptrade.com
29 TD Ameritrade https://www.tdameritrade.com
30 TP Global FX https://www.tpglobalfx.com
31 TradeSight FX https://tradesightfx.co.in
32 Urban Forex https://www.urbanforex.com
33 XM https://www.xm.com
34 XTB https://www.xtb.com

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