RBI adds 8 new entities to alert list of unauthorised forex trading platforms
Mumbai: The Reserve Bank of India (RBI) Wednesday said it has included eight more entities and platforms to the alert list of unauthorised forex trading platforms.
The new inclusions are 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 pertains to the entities, which have no authority to deal in forex or operate electronic trading platforms (ETP) for forex transactions.
The list also includes names of entities or platforms or websites, which are apparently involved in promoting unauthorised ETP.
They could do so through 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.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
