Mumbai: The Reserve Bank of India (RBI) issued warning on 19 illegal forex trading platforms. The apex bank added 19 entities, platforms, and websites to its Alert List of unauthorised forex trading platforms.
The apex bank urged all 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.
Full list of unauthorised forex trading platforms:
1. Admiral Market https://admiralmarkets.com
2. BlackBull https://blackbull.com
3. Easy Markets https://www.easymarkets.com
4. Enclave FX https://enclavefx.com5. 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
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The RBI has cautioned the public to not undertake forex transactions on unauthorised ETPs or remit/deposit money for such unauthorised transactions.
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