Language हिंदी. Search the Website Search. Home Press Releases. Press Releases kb Date : Feb 03, RBI Cautions against unauthorised forex trading platforms The Reserve Bank of India RBI has noticed misleading advertisements of unauthorised Electronic Trading Platforms ETPs offering forex trading facilities to Indian residents, including on social media platforms, search engines, Over The Top OTT platforms, gaming apps and the like.

All Months January February March April May June July August September October November December. Facilitating direct access of retail customers to the market, rather than through price-setting by their banks, would also bring down the risk that banks face in warehousing transactions. in who has a need to purchase or sell US Dollar against the Rupee for delivery on cash basis same day , tom basis next day or spot basis two days after date of transaction , subject to the following:.

There is no cap on the number of transactions per customer during a day. The total amount of transactions of a customer shall be subject to the limit assigned by its bank. As a further facility for retail clients, no transaction charges shall be levied by the CCIL on transactions of customers if such transactions do not exceed USD 50, per day.

A transaction charge of 0. Fees charged by banks, if any, shall be indicated on the FX-Retail platform. Banks may recover from customers transaction and settlement charges levied by the CCIL. In view of the advantages of transparency and pricing to retail customers, as well as the systemic advantage of improved price discovery, banks shall facilitate on-boarding of retail customers to the platform expeditiously. TAGS: RBI reserve bank of india unauthorised Electronic Trading Platforms ETFs forex trading fraud forex trading scam forex trading facilities.

Latest Must Read Markets. TOP VIDEOS. Economy Corporate Markets. Trending Magazine COVID Infra Pharma Real Estate. Stocks Auto World. Education Jobs Lifestyle. About us Contact us Advertise with us Privacy Policy Terms and Conditions Partners Press Releases. Copyright© Living Media India Limited.

RBI had noted that several unauthorised platforms lure people by promising lofty returns. RBI has therefore decided to prosecute users of these restricted platforms from the day forward. This list was released on September 7, and had 34 names. What does it mean for the entities under the alert list? RBI further clarified that an entity not appearing in the Alert List should not be assumed to be authorised by the RBI. Get Latest Business News , Stock Market Updates and Videos ; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage.

Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube. Read in App. Business News » Markets News. RBI declares 34 forex trading platforms as unauthorised - Full list RBI had noted that several unauthorised platforms lure people by promising lofty returns. View in App. Reserve Bank of India Alert List Forex Market. Edited By: Abhinav Ranjan. RELATED NEWS. Attention account holders! RBI cancels licence of THIS bank — this is how depositors can withdraw their hard-earned money.

Explainer: How Nirav Modi cheated PNB of Rs 14, crore through fraudulent Letters of Undertaking. Mortgage loan to GDP ratio should rise in India: HDFC chairman Deepak Parekh. For first time, Reserve Bank of India's monetary policy panel to discuss inflation report this week — what should you know?

What are the permitted forex derivative products? Answer: An authorised person is an entity authorised by the Reserve Bank of India to deal in forex. For additional information, please review our full advertising disclosure. Financial Inclusion and Development. Before you start trading with any broker, check their website for their SEBI license. The Reserve Bank of India RBI has noticed misleading advertisements of unauthorised Electronic Trading Platforms ETPs offering forex trading facilities to Indian residents, including on social media platforms, search engines, Over The Top OTT platforms, gaming apps and the like. Usman possesses strong technical analytical skills and is famous for his very own, informative and entertaining, writing style.

Categories:

• Forex Brokers
• Forex
• Binary Options
• Binary Options online
• Forex Bitcoin