Summary of this article
RBI updates it's 'alert list' of unauthorised forex trading platforms
Adds 7 new names, taking the total number to 95
These platforms are not authorised under Foreign Exchange Management Act, 1999
The Reserve Bank of India (RBI) on Wednesday, November 19, 2025, added 7 new names to its 'alert list' of unauthorised forex trading platforms, taking the total number to 95.
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, the central bank said.
The new additions are: Starnet FX; CapPlace; Mirrox; Fusion Markets; Trive; NXG Markets; and Nord FX.
Check the full list here:
| 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 |
RBI further stated that the 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," it added.
The authorisation status of any person/ETP can be ascertained from the list of authorised persons and authorised ETPs.
With inputs from the official website of the Reserve Bank of India.
