IANS | 24 Nov, 2023
The Reserve Bank of India (RBI) on Friday added 19
entities/platforms/websites to its Alert List of unauthorised forex
trading platforms from which people need to stay away as they are
illegal.
These entities are neither authorized to deal in forex
under the Foreign Exchange Management Act, 1999 (FEMA) nor authorized to
operate electronic trading platforms (ETPs) for forex transactions.
The 19 entities are:
1. Admiral Market https://admiralmarkets.com
2. BlackBull https://blackbull.com
3. Easy Markets https://www.easymarkets.com
4. Enclave FX https://enclavefx.com
5. Finowiz Fintech Limited https://finowiz.com
6. FX SmartBull https://www.fxsmartbull.com
7. Fx Tray Market https://www.fxtray.com
8. Forex4you https://www.forex4you.com
9. GoDo FX https://www.godofx.com
10. Growing Capital Services Ltd. https://www.growingcapital.uk
11. HF Markets https://www.hfm.com
12. HYCM Capital Markets https://hycm.com
13. JGCFX https://jgcfx.com
14. Just Markets https://justmarkets.com
15. PU Prime https://in.puprime.com
16. Real Gold Capital Ltd. https://www.realgoldcapitals.com
17. TNFX https://tnfx.co
18. Ya Markets https://www.yamarkets.com
19. Gate Trade Mobile Application
The
RBI has cautioned the public to not undertake forex transactions on
unauthorised ETPs or remit/deposit money for such unauthorised
transactions.
The alert list includes names of
entities/platforms/websites which appear to be promoting unauthorised
entities/ETPs, including through advertisements of such unauthorised
entities or claiming to be providing training/advisory services.
The
authorisation status of any person/ETP can be ascertained from the list
of authorised persons and authorised ETPs available in the RBI's
website.
