The Reserve Bank of India (RBI) has issued a warning against unauthorized forex trading platforms, advising the public to avoid transactions on such platforms. The RBI has released an 'Alert List' of 34 illegal forex trading websites, emphasizing that only transactions with authorized entities are permitted under the Foreign Exchange Management Act (FEMA). The list includes well-known platforms such as Alpari, eToro, and Forex.com, among others. The RBI reiterates the importance of using authorized electronic trading platforms and stock exchanges for forex transactions to avoid legal repercussions.

The Reserve Bank of India (RBI) has issued a warning against unauthorized forex trading platforms, advising the public to avoid transactions on such platforms. The RBI has released an 'Alert List' of 34 illegal forex trading websites, emphasizing that only transactions with authorized entities are permitted under the Foreign Exchange Management Act (FEMA). The list includes well-known platforms such as Alpari, eToro, and Forex.com, among others. The RBI reiterates the importance of using authorized electronic trading platforms and stock exchanges for forex transactions to avoid legal repercussions.