List of unauthorized forex trading platforms: RBI
- The Reserve Bank of India has expanded its Alert List of unauthorized forex trading platforms by adding 19 additional entities, platforms, and websites.
- Among them is the mobile application 'Gate Trade,' along with 18 other entities such as Admiral Market, BlackBull, Forex4you, PU Prime, and Real Gold Capital Ltd.
- Consequently, the tally of illegal entities on the list has reached 75. These entities lack authorization to engage in forex activities under the Foreign Exchange Management Act, 1999, and are not permitted to operate electronic trading platforms (ETPs) for forex transactions.
- The RBI emphasizes the importance of public vigilance and recommends verifying the legitimacy of any entity by checking its credentials on the RBI's website. The apex bank regularly updates the List of Authorized Persons and ETPs sanctioned to conduct forex transactions.
Download Sakshi Education Mobile APP
Published date : 25 Nov 2023 05:10PM