RBI expands its "Alert List" of forex trading platforms, adds 13 new names

The Reserve Bank of India has added as many as 13 new names to its "Alert List" of unauthorised forex trading platforms, news agency PTI reported on October 22.

Following this update, the total number of entities on the list now stands at 88.

The latest additions include names such as TDFX, Inefex, Ranger Capital, YorkerFX, Growline, Think Markets, etc, among others. These entities will neither be authorised from now to deal in foreign exchange under the Foreign Exchange Management Act (FEMA) of 1999 nor to operate electronic trading platforms as per RBI's 2018 directions.

The Alert List also contains 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, RBI's statement read. The list, however, is not exhaustive.

Furthermore, the central bank cautioned that an entity not appearing on the list should not be assumed to have authorisation. The central bank advised checking the status from the list of authorised persons and electronic trading platforms.


The fully updated list of these entities can be found here.