RBI Alert These 34 Forex Trading Platforms illegal
14/09/2022 Financial & Legal Services
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RBI Alert: These 34 Forex Trading Platforms illegal .In a recent circular issued by the RBI on 7th September 2022, the apex bank of India has declared 34 online forex trading online platforms as illegal including some famous forex trading platforms such as OctaFX India, Binomo, and Olymp Trade.RBI has come up with an “Alert List” of entities that are barred from trading in forex under the Forex Exchange Management Act (FEMA) 1999. In the circular issued by the RBI, these companies are neither allowed to trade in Forex nor permitted to run online forex trading platforms on their website.
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