RBI puts out alert list of illegal forex trading sites

If you’re opting for a bank transfer, you may have to wait for a few hours or an entire day. It’ll be best for new traders to skip this point if you haven’t yet grasped the vital information related to leverage. You’ll have to pay off a significant fee if you want to trade overnight. Apart from this, the platform also charges a subscription fee and inactivity fee.

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Also, the RBI has clarified that an entity not appearing in the ‘alert list’ can’t be assumed to be authorised by the RBI. The RBI says people can undertake forex transactions only with “authorised persons and for permitted purposes”, in accordance with the FEMA rules. Though, in terms of education, the platform assists new traders a lot. Still, trading with a VIP trading account is more profitable but requires a relatively high minimum deposit amount. Olymp Trade is an A-recognized member of the International Financial Commission which enables the platform to cover unfair trade practices up to $20,000.

• Practising on different types of trading and money management strategies will help you become comfortable with them before risking your money.
• Suppose you want to take a full overview of this online trading platform before using its premium account.
• Olymp Trade Forex is perfect for those who want to develop as a trader and get great results.
• Nvidia CEO Jensen Huang’s visit to Taiwan for the Computex trade show has sparked immense excitement.
• Therefore, the financial side of the new mechanic is also designed in favor of traders.
• Manage your money efficiently with this weekly money management guide.
• Once all of the required information is entered, you can start practising with your demo trading account.

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Others are i-Stream (operated by ICAP IL Indian Pvt Ltd), TEX/SEP and 360TGTX (operated by Three Sixty Trading Networks (India) Pvt. Ltd), FXall and Matching (operated by Refinitiv India Transaction Services Pvt. Ltd.) and BTBS (operated by Bloomberg Tradebook Singapore Pte Ltd.). Top10stockbroker.com & Indianfranchisereview.com are websites under Medmonx Enterprises Private Limited. We are certified stock broker review & comparison website working with multiple partners. With the help of these consultants, you can enjoy profitable results. The additional benefits included in a VIP account are truly unbelievable.

Sensex rises! But these stocks are down 5% or more on BSE

The risks of using this instrument are strictly limited, which prevents traders from getting a negative result like losing a larger amount than that of the investment. The Olymp Trade makes sure that every visitor on this fantastic online trading platform doesn’t encounter any confusion. Olymp Trade has been one of the strongest players in the financial industry.

Most Searched Stocks

Manage your money efficiently with this weekly money management guide. Analyze the market sentiments & identify the trend reversal for strategic decisions. Check the score based on the company’s fundamentals, solvency, growth, risk & ownership to decide the right stocks. Olymp Trade Forex is perfect for those who want to develop as a trader and get great results. Meanwhile, the RBI’s list of authorised ETPs includes FX-CLEAR, NDS-Call, NDS-OM, CROMS, TREPS, ASTROID, and FX-SWAP — they are all operated by Clearcorp Dealing Systems (India) Ltd.

Virtual Trading Account or Demo Account

Various methods of investing can be used on Olymp Trading which keeps new traders from making uninformed decisions. Traders can later enable their real accounts and start trading practices with their own money. In some instances, says the RBI, such ETPs-engaging agents personally contact gullible people to undertake forex trading or investment schemes and entice them with promises of “exorbitant returns”.

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Head Coach Kevin Stefanski downplayed the absence, emphasizing the voluntary nature of the program. Garrett’s trip follows his recent contract extension, and his appearance with Kim has sparked relationship speculation.

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Many people have lost money by trading with the unauthorised platforms, the RBI adds. Some of these platforms also claim to be regulated by overseas regulators and recipients of global awards, it had added. All these plus points draw trader’s attention towards the online trading broker. With a plethora of trading options and services, the platform is on the rise in the market.

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The price chart can be presented as Japanese candlesticks, bars, HeikinAshi candles or a line chart. No matter whether you’re trading through mobile or desktop, if you’re using Olymp Trade, you can invest at any time, anywhere. If you are afraid of putting your money for trading via a random trading platform, you can check its licensing.

RBI updates list of unauthorised forex trading platforms; check the full list here, how to check authorised list

• All these plus points draw trader’s attention towards the online trading broker.
• If you’re opting for a bank transfer, you may have to wait for a few hours or an entire day.
• Investment is seen as one of the best hobbies, as it allows you to take advantage of the most traded financial market in the world, using the simplest trading instrument.
• Olymp Trade app also provides easy access to learning material which enables new traders to get acquainted with the system easily.
• Thus, let’s dive into this Olymp Trade Review without waiting for long and bring to light all points stating how this platform provides you a leading edge in the market.
• Ensure that the platform can close your account if you haven’t maintained a sufficient balance in your account.

Using your mobile phone camera, scan the code below and download the Kindle app. Get to know where the market bulls are investing to identify the right stocks. The high quality of quotes and trade execution is certified by an independent system Verify My Trade. An audit of 5000 customers’ trades found that the quality of service meets the standards. Pensions to persons suffering from cancer, tuberculosis and leprosy. The ‘alert list’ is not exhaustive, says the RBI, adding that it is based on what was known to the RBI till September 7, 2022.

Olymp Trade

• Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView, Inc.
• Here, you can confidently invest your hard-earned money and secure a highly profitable position.
• The risks of using this instrument are strictly limited, which prevents traders from getting a negative result like losing a larger amount than that of the investment.
• All concepts, strategies, and tools are explained in simple language to ensure even the newest traders can learn everything necessary and become successful.
• It is a perfect solution for those who enjoy getting predictable financial results.
• Fixed Time Trade trading involves buying or selling a contract before a certain date (expiration) and getting specified returns.
• Whenever you wish to make a well-informed decision, this app will always assist you.

The minimal deposit amount is $10 (or €10, if that’s the account currency), and one needs as little as $1 to open a trade. Notably, London-based OctaFX, which the RBI says is not authorised to deal in forex, was also one of the official sponsors of the Delhi Capitals team in the Indian Premier League (IPL) this year, say media reports. Ads of many such platforms can also often be seen on popular social media platforms including YouTube.

Olymp Trade Safety & Security

Mainly for those users who often go a little overwhelmed after seeing too much technical on an online trading platform. Trading strategies, indicators, and analytical tools are essential for a trader. All concepts, strategies, and tools are explained in simple language to ensure even the newest traders can learn everything necessary and become successful. The site’s automated assistant answers traders’ questions as soon as they appear in the education section. The company’s commission for the executed trades is minimal, and traders aren’t charged extra for depositing or withdrawing their money.

• If you love putting your smart strategies while trading and always prefer multiple trading options, then Olymp Trade will surely be made for you.
• We are certified stock broker review & comparison website working with multiple partners.
• Deposits can be made quickly and easily through one of For a VIP account, you must deposit the required amount (approximately $2000).
• Just visit the mobile app store and download the Olymp Trade app.
• For traders, trading on this platform becomes much easier as this entire platform is easy to navigate.
• This means if a trader faces any issues with regards to the app’s transactions or collections then Indian authorities will not be able to help.
• Trading strategies, indicators, and analytical tools are essential for a trader.
• You’ll have to pay off a significant fee if you want to trade overnight.
• According to various sources, Olymp Trade is not technically illegal in India but it is in no way monitored or controlled by SEBI or RBI.

Especially if you’re planning to invest in Forex Market that doesn’t remain open for all time. If you make a trade up to £5,000, you also get the opportunity to interact with a VIP consultant personally. For instance, how you can manage capital, the latest trading tips, etc. In a nutshell, the forex broker has everything that supports each of its clients in his/her trading journey. You can use the demo account right after the simple registration process.

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It is also crucial to point out that the value of spreads can rise or fall as the market conditions go up and down. However, you can also assume it a small trading tool that you’ll be carrying for all time in your pocket. Whenever you wish to make a well-informed decision, this app will always assist you. If you have a question you can always find the answer through the automated assistant or a help centre.

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The trader can also place an order and get a position opened only after the specific best trading app by Pocket Option Nigeria conditions have been met, like the time and the asset price. “Resident persons undertaking forex transactions for purposes other than those permitted under the FEMA or on ETPs not authorised by the RBI shall render themselves liable for legal action under the FEMA,” it added. Perhaps it’s a helpful thing for beginners, but it isn’t for expert traders who have significant capital to invest in. For traders, trading on this platform becomes much easier as this entire platform is easy to navigate. Every option is well-organized that delivers easiness in the trading activities.

Olymp Trade Clients Now Have a New Loyalty System

The minimum amount deposit required to start trading on the platform is $10 which makes it easier for small-time traders to try their luck. Olymp Trade app also provides easy access to learning material which enables new traders to get acquainted with the system easily. Once registered, each trader will get a free demo account to practice risk-free trades. This account trades exactly like the live accounts on the platform with live quotes for all currency pairs, indices, and commodities using Olymp Trade Demo Dollars. Each trader has 10,000 Demo Dollars, which can be replenished an unlimited number of times.

Key data points

Also, the market situation can influence the fee structure set by the broker. You can go with it even though you are an Android phone user or iOS user. Just visit the mobile app store and download the Olymp Trade app.