RBI adds 8 entities in alert list of unauthorised forex trading platforms
The new additions to the alert list of unauthorised forex trading platforms include QFX Markets, 2Win Trade, Guru Trade7 Ltd, Bric Trade, Rubik Trade, Dream Trade, Mini Trade and Trust Trade, the RBI said
PremiumThe Reserve Bank (RBI) Wednesday said it has added eight more entities or platforms or websites to the alert list of unauthorised forex trading platforms
The new additions to the alert list of unauthorised forex trading platforms include QFX Markets, 2Win Trade, Guru Trade7 Ltd, Bric Trade, Rubik Trade, Dream Trade, Mini Trade and Trust Trade, the RBI said in a statement.
The alert list contains names of entities which are neither authorised to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA) nor authorised to operate electronic trading platform (ETP) for forex transactions under the Electronic Trading Platforms (Reserve Bank) Directions, 2018.
The RBI further said the alert list also contains the names of entities or platforms or websites which appear to be promoting unauthorised entities or ETPs, including through advertisements of such unauthorised entities or claiming to be providing training/advisory services.
The updated alert list has names of 56 platforms or websites.
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