Is the app legal in India?
The RBI keeps an Alert List of unauthorised forex trading platforms. Here is what it says about 23 apps, with the date we checked, and how to check any other app yourself.
RBI Alert List, checked 15–20 Oct 2026
What the Alert List can tell you
The RBI Alert List names apps and websites that the RBI lists as unauthorised forex trading platforms (the copy we read is the update of 19 Nov 2025).
An app that is not named should not be assumed to be authorised. The list is not exhaustive: it can only tell you that the RBI has named an app, not that an app is safe or allowed.
23 apps and the RBI Alert List
Information only, not a ranking: not named A to Z, then named in the order of the RBI entry number.
| App | RBI Alert List | Checked on |
|---|---|---|
| Not named in the RBI Alert List 6 | ||
| Deriv | Not named | 15 Oct 2026 |
| FX Pesa | Not named | 20 Oct 2026 |
| FxPro | Not named | 15 Oct 2026 |
| Headway | Not named | 15 Oct 2026 |
| Scope Markets | Not named | 20 Oct 2026 |
| Stockity | Not named | 15 Oct 2026 |
| Named in the RBI Alert List 17 | ||
| AvaTrade | Named No. 3 | 15 Oct 2026 |
| Binomo | Named No. 4 | 15 Oct 2026 |
| eToro | Named No. 5 | 20 Oct 2026 |
| Exness | Named No. 6 | 15 Oct 2026 |
| ExpertOption | Named No. 7 | 15 Oct 2026 |
| FBS | Named No. 8 | 15 Oct 2026 |
| FXTM | Named No. 19 | 15 Oct 2026 |
| HFM (HF Markets) | Named No. 20 | 15 Oct 2026 |
| IC Markets | Named No. 22 | 15 Oct 2026 |
| IQ Option | Named No. 25 | 15 Oct 2026 |
| Octa | Named No. 27 | 15 Oct 2026 |
| Olymp Trade | Named No. 28 | 15 Oct 2026 |
| XM | Named No. 33 | 15 Oct 2026 |
| Quotex | Named No. 35 | 15 Oct 2026 |
| Pocket Option | Named No. 37 | 15 Oct 2026 |
| Pepperstone | Named No. 48 | 15 Oct 2026 |
| JustMarkets | Named No. 70 | 15 Oct 2026 |
How to check an app yourself
- Find who runs the app. Note the company name and the website from the app store listing or the app's own site.
- Open the RBI Alert List and search the page (Find in page) for the app's name and for its web address. One app can appear under another website.
- If it is named, the RBI lists it as an unauthorised forex trading platform. Note the entry number.
- If it is not named, that is not proof that it is authorised. The list is not exhaustive.
- Write down the date. The list is updated from time to time; check again before you sign up or pay anything.
Before using real money, you can practise first: see Practise with a plan.
Where the RBI says forex trading may happen: Legal forex trading in India. On binary options: Is binary trading legal in India?
What the list is and what one entry tells you: the RBI Alert List explained.
How we checked
We read the public RBI page (no login) and searched it for each app's brand name. The date on each row is the day we checked it. We checked only the Alert List, so this page does not call any app authorised.
Questions
If an app is not named, is it authorised?
No. The RBI says an entity that is not in the list should not be assumed to be authorised. The list is not exhaustive. "Not named" only means we did not find the name when we checked.
What does "Named, No. 4" mean?
The app's name is entry No. 4 in the RBI Alert List (update of 19 Nov 2025). The list is titled as a list of unauthorised forex trading platforms.
Why does this page not say which apps are legal?
The Alert List can show that the RBI names an app; it cannot show that an app is authorised. We have not checked any other register yet, so we do not label any app as authorised.
How old is this information?
Each row shows the date we checked it. We plan to check every row again within 30 days. The RBI can update the list at any time, so check it yourself before you sign up.
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