The Reserve Bank of India (RBI), through its press release dated November 19, 2025, has updated its Alert List of unauthorised forex trading platforms to caution the public against engaging with unregulated entities. The newly added platforms include Starnet FX, CapPlace, Mirrox, Fusion Markets, Trive, NXG Markets, and Nord FX, all of which offer online forex trading services without the required authorisation to operate in India. RBI’s Alert List serves as a public awareness tool to help individuals identify platforms that are not permitted to deal in foreign exchange under Indian law. By updating the list, the central bank aims to prevent consumers from falling victim to fraudulent schemes or unregulated high-risk forex activities. The press release reiterates that residents should only engage with authorised entities for forex transactions and exercise caution when approached by online trading platforms claiming to offer investment or forex opportunities.
Reserve Bank of India
Dated: November 19, 2025
RBI updates the Alert List of unauthorised forex trading platforms
The Reserve Bank of India (RBI) has added the following entities/platforms/websites to the Alert List of unauthorised forex trading platforms.
The updated Alert List is available here.
| Sr. No | Name | Website |
| 1 | Starnet FX | https://www.starnetfx.com |
| 2 | CapPlace | https://www.capplace.com |
| 3 | Mirrox | https://www.mirrox.com |
| 4 | Fusion Markets | https://www.fusionmarkets.com |
| 5 | Trive | https://www.trive.com |
| 6 | NXG Markets | https://www.nxgmarkets.com |
| 7 | Nord FX | https://www.nordfx.com |
(Brij Raj)
Chief General Manager
Press Release: 2025-2026/1530
Alert List (Updated as on November 19, 2025)
The Alert List contains names of entities which are neither authorised to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA) nor authorised to operate electronic trading platform (ETP) for forex transactions under the Master Direction – Reserve Bank of India (Electronic Trading Platforms) Directions, 2025 dated June 16, 2025. 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. This list is not exhaustive. An entity not appearing in the list should not be assumed to be authorised by the RBI. The authorisation status of any person/ETP can be ascertained from the list of authorised persons and authorised ETPs.
| Sr. No | Name | Website |
| 1 | Alpari | https://alpari.com |
| 2 | Anyfx | https://anyfx.in |
| 3 | Ava Trade | https://www.avatrade.com |
| 4 | Binomo | https://binomoidr.com/in |
| 5 | eToro | https://www.etoro.com |
| 6 | Exness | https://www.exness.com |
| 7 | Expert Option | https://expertoption.com |
| 8 | FBS | https://fbs.com |
| 9 | FinFxPro | https://finfxpro.com |
| 10 | Forex.com | https://www.forex.com |
| 11 | Forex4money | https://www.forex4money.com |
| 12 | Foxorex | https://foxorex.com |
| 13 | FTMO | https://ftmo.com/en |
| 14 | FVP Trade | https://fvpt-uk.com |
| 15 | FXPrimus | https://fxprimus.com |
| 16 | FX Street | https://www.fxstreet.com |
| 17 | FXCM | https://www.fxcm.com |
| 18 | FxNice | https://fx-nice.net |
| 19 | FXTM | https://www.forextime.com |
| 20 | HotForex | https://www.hotforex.com |
| 21 | ibell Markets | https://ibellmarkets.com |
| 22 | IC Markets | https://www.icmarkets.com |
| 23 | iFOREX | https://www.iforex.in |
| 24 | IG Markets | https://www.ig.com |
| 25 | IQ Option | https://iq-option.com |
| 26 | NTS Forex Trading | https://ntstradingrobot.com |
| 27 | OctaFX | https://octaindia.net |
| https://hi.octafx.com | ||
| https://www.octafx.com | ||
| 28 | Olymp Trade | https://olymptrade.com |
| 29 | TD Ameritrade | https://www.tdameritrade.com |
| 30 | TP Global FX | https://www.tpglobalfx.com |
| 31 | Trade Sight FX | https://tradesightfx.co.in |
| 32 | Urban Forex | https://www.urbanforex.com |
| 33 | XM | https://www.xm.com |
| 34 | XTB | https://www.xtb.com |
| 35 | Quotex | https://quotex.com |
| 36 | FX Western | https://www.fxwestern.com |
| 37 | Pocket Option | https://pocketoption.com |
| 38 | Tickmill | https://www.tickmill.com |
| 39 | Cabana Capitals | https://www.cabanacapitals.com |
| 40 | Vantage Markets | https://www.vantagemarkets.com |
| 41 | VT Markets | https://www.vtmarkets.com |
| 42 | Iron Fx | https://www.ironfx.com |
| 43 | Infinox | https://www.infinox.com |
| 44 | BD Swiss | https://global.bdswiss.com |
| 45 | FP Markets | https://www.fpmarkets.com |
| 46 | MetaTrader 4 | https://www.metatrader4.com |
| 47 | MetaTrader 5 | https://www.metatrader5.com |
| 48 | Pepperstone | https://pepperstone.com |
| 49 | QFX Markets | https://qfxmarkets.com/ |
| 50 | 2WinTrade | https://www.2wintrade.com/ |
| 51 | Guru Trade7 Limited | https://www.gurutrade7.com/ |
| 52 | Bric Trade | https://www.brictrade.com/ |
| 53 | Rubik Trade | https://www.rubiktrade.com/ |
| 54 | Dream Trade | Mobile Application |
| 55 | Mini Trade | Mobile Application |
| 56 | Trust Trade | Mobile Application |
| 57 | Admiral Market | https://admiralmarkets.com |
| 58 | BlackBull | https://blackbull.com |
| 59 | Easy Markets | https://www.easymarkets.com |
| 60 | Enclave FX | https://enclavefx.com |
| 61 | Finowiz Fintech Limited | https://finowiz.com |
| 62 | FX SmartBull | https://www.fxsmartbull.com |
| 63 | Fx Tray Market | https://www.fxtray.com |
| 64 | Forex4you | https://www.forex4you.com |
| 65 | GoDo FX | https://www.godofx.com |
| 66 | Growing Capital Services Ltd. | https://www.growingcapital.uk |
| 67 | HF Markets | https://www.hfm.com |
| 68 | HYCM Capital Markets | https://hycm.com |
| 69 | JGCFX | https://jgcfx.com |
| 70 | Just Markets | https://justmarkets.com |
| 71 | PU Prime | https://in.puprime.com |
| 72 | Real Gold Capital Ltd. | https://www.realgoldcapitals.com |
| 73 | TNFX | https://tnfx.co |
| 74 | Ya Markets | https://www.yamarkets.com |
| 75 | Gate Trade | Mobile Application |
| 76 | Ranger Capital | https://www.rangercapital.net |
| 77 | TDFX | https://www.tdfx.exchange |
| 78 | Inefex | https://www.inefex.com/international |
| 79 | YorkerFX | https://yorkermarkets.com |
| 80 | Growline | https://grow-line.org |
| 81 | Think Markets | https://www.thinkmarkets.com |
| 82 | Smart Prop Trader | https://www.smartproptrader.com |
| 83 | FundedNext | https://fundednext.com |
| 84 | Weltrade | https://www.weltrade.com |
| 85 | FreshForex | https://freshforex.com |
| 86 | FX Road | https://www.fxroad.com |
| 87 | DBG Markets | https://www.dbgmarketsglobal.com |
| 88 | Plusonetrade | https://www.plusonetrade.com |
| 89 | Starnet FX | https://www.starnetfx.com |
| 90 | CapPlace | https://www.capplace.com |
| 91 | Mirrox | https://www.mirrox.com |
| 92 | Fusion Markets | https://www.fusionmarkets.com |
| 93 | Trive | https://www.trive.com |
| 94 | NXG Markets | https://www.nxgmarkets.com |
| 95 | Nord FX | https://www.nordfx.com |
Thank you for sharing this valuable information. Can you please share the list of Authorised Forex Trading Platforms by RBI ?
Thank you