RBI adds 8 entities to alert list of unauthorised forex trading platforms

The Alert List contains names of entities which are neither authorised to deal in forex nor authorised to operate electronic trading platforms (ETP) for forex transactions

The Reserve Bank of India (RBI) has added eight more entities to the alert list of unauthorised forex trading platforms.

The new additions to the alert list include QFX Markets, 2Win Trade, Guru Trade7 Limited, Bric Trade and Rubik Trade. Dream Trade, Mini Trade and Trust Trade, the central bank said in a press release.

The Alert List contains names of entities, which are neither authorised to deal in forex nor authorised to operate electronic trading platforms (ETP) for forex transactions.

The list also contains names of entities or platforms or websites, which appear to be promoting unauthorised ETP. The methods may include advertisements of such unauthorised entities or claiming to be providing training/advisory services.

The updated Alert List till June 7, 2023, has names of 56 platforms or websites. Some of the biggest names include Binomo, Olymp Trade, OctaFX, etc.