🚫 RBI Banned Forex Trading Apps – Full List 2025
Stay updated with Gromi Finance on the latest RBI action against illegal forex trading platforms in India.
⚠️ Why RBI Banned These Apps?
The Reserve Bank of India (RBI) has taken strict action against several unauthorized forex trading applications that mislead Indian investors with high return promises. These apps are not regulated under Indian law, and users risk losing their money. Gromi Finance advises all traders to only use SEBI and RBI approved platforms.
📋 RBI Banned Forex Apps List
- OctaFX
- Binomo
- Olymp Trade
- IQ Option
- FBS
- Forex.com
- Pepperstone
- XM Trading
⚠️ Note: This list is based on RBI press releases and advisories as of 2025. Always verify on the official RBI website before investing.
❓ Frequently Asked Questions
Is Forex Trading Legal in India? +
No, forex trading through unregulated apps is illegal in India. Only RBI/SEBI approved exchanges are legal.
Can I use apps like OctaFX or Binomo in India? +
No, these apps are banned by RBI. Using them can cause financial losses and legal consequences.
Which is the safe way to trade forex in India? +
Trade only on RBI and SEBI approved platforms via registered Indian brokers.
How can Gromi Finance help me? +
Gromi Finance provides verified financial information, guides, and safe alternatives to protect your wealth.