The Reserve Bank of India (RBI) on Tuesday expanded its ‘Alert List’ of unauthorised forex trading platforms, adding 13 more entities, including TDFX and Inefex. This brings the total number of flagged entities to 88.
The ‘Alert List’ comprises entities that are neither authorised to deal in foreign exchange under the Foreign Exchange Management Act, 1999 (FEMA), nor permitted to operate electronic trading platforms (ETPs) for forex transactions under the Electronic Trading Platforms (Reserve Bank) Directions, 2018.
Among the newly added names are Ranger Capital, YorkerFX, Growline, Think Markets, Smart Prop Trader, FundedNext, Weltrade, FreshForex, FX Road, DBG Markets, and Plusonetrade.
In a public advisory, the RBI also noted that the list includes platforms that appear to promote unauthorised forex entities or ETPs, often through advertisements or claims of offering training and advisory services.
The central bank clarified that the list is not exhaustive, and the absence of a name should not be interpreted as the entity being authorised. For confirmation, individuals are urged to consult the RBI’s official list of authorised persons and ETPs.
