Reserve Bank of India includes 19 unauthorized forex trading platforms in alert list
Banking & Finance
The Reserve Bank of India updated its 'alert list' of unauthorized forex trading platforms by adding 19 more entities, including FX Smartbull, Just Markets and Godo FX, taking the total number to 75. According to the list, these entities are neither authorized to deal in foreign exchange under the Foreign Exchange Management Act, 1999 (FEMA) nor authorized platforms (ETPs) under the Electronic Trading Platform for Foreign Exchange (Reserve Bank) Guidelines, 2018. ) are authorized to operate. Other entities added to the list are Admiral Markets, Blackbull, EZ Markets, Enclave FX, Finoviz Fintech, FX Smartbull, FX Trey Markets, Forex4U, Growing Capital Services and HF Markets. Other platforms are HYCM Capital Markets, JGCFX, PU Prime, Real Gold Capital, TNFX, or Markets & Get Trade. The Reserve Bank said the alert list also includes names of entities/platforms/websites that appear to be promoting unauthorized entities.
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