Tag: Electronic Trading Platforms

RBI warns against dealing with unauthorized forex trading platforms, adding 8 more entities to its alert list, making the total count of blacklisted companies 56. The alert list includes entities that promote unauthorized entities or electronic trading platforms. Individuals should check the RBI's authorized lists to avoid any fraudulent activities while dealing with forex trading platforms. Be cautious and regularly check the list to avoid any threat to the national financial system.

The Reserve Bank of India (RBI) has added eight new entities to its 'Alert List' of unauthorised forex trading platforms, now totaling 56. The central bank cautions residents to use caution when utilizing unauthorized platforms and to verify a platform's authorization status on the RBI's website. Any resident using an unauthorised platform for forex transactions may face penal action under the Foreign Exchange Management Act. Stay safe by checking the authorized persons and ETPs list on the RBI's website.