The Reserve Bank on Friday updated the ‘Alert List’ of unauthorized forex trading platforms by adding 19 more entities, including FX SmartBull, Just Markets and GoDo FX, bringing the total to 75. The Alert List contains the names of entities that are neither authorized to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA) nor to operate an electronic trading platform (ETP) for forex transactions under the Electronic Trading Platforms (Reserve Bank) Directions, 2018.
The other entities added to the list are Admiral Market, BlackBull, Easy Markets, Enclave FX, Finowiz Fintech, FX SmartBull, Fx Tray Market, Forex4you, Growing Capital Services and HF Markets.
Other platforms are HYCM Capital Markets, JGCFX, PU Prime, Real Gold Capital, TNFX, Ya Markets and Gate Trade.
In a statement, the Reserve Bank said the Watch List also contains names of entities/platforms/websites that appear to be promoting unauthorized entities.
“The list is not exhaustive,” it said and added that an entity not appearing in the list should not be assumed to be authorized by the RBI.