Investor alert! RBI says forex trading on these 34 platforms is illegal

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.

• Nvidia CEO Jensen Huang’s visit to Taiwan for the Computex trade show has sparked immense excitement.
• Surprisingly, Olymp Trade offers attractive deals and bonuses for its clients from time to time.
• Once all of the required information is entered, you can start practising with your demo trading account.
• Therefore, the financial side of the new mechanic is also designed in favor of traders.
• Olymp Trade is committed to providing transparent, reliable service, and paying close attention to client requests.
• Olymp Trade Forex is perfect for those who want to develop as a trader and get great results.

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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 Olymp Trade been one of the strongest players in the financial industry.

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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 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.

• The high quality of quotes and trade execution is certified by an independent system Verify My Trade.
• You can go with it even though you are an Android phone user or iOS user.
• Though, the spreads you get in a standard account are only 1.1 pips.
• It also offers you the assistance of forex for testing your knowledge.
• Ensure that the platform can close your account if you haven’t maintained a sufficient balance in your account.
• Every market follows a varying timeframe and you may find yourself restricted to invest in your favorite asset.
• 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.
• Head Coach Kevin Stefanski downplayed the absence, emphasizing the voluntary nature of the program.

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However, you might have found this same thing in other online trading platforms too. To stay connected to the market, download an app for your iOS or Android smartphone. Olymp Trade mobile apps have the same atmosphere of active trading and can become an essential part of a trader’s career. 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.

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It also offers you the assistance of forex for testing your knowledge. It has proved itself to be a reliable guide in the world of financial markets for hundreds of thousands of people from all over the world. In February this year, RBI had warned people against trading forex on unauthorized platforms following growing reports of people falling prey to such entities. The central bank has said people should not undertake forex transactions on unauthorised ETPs or remit or deposit money for such transactions. Those indulging in illegal forex transactions can render themselves liable for legal action under the FEMA. Olymp Trade is one of the cheapest alternatives for new traders to start trading.

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• Forex trading is by far the largest financial market with more than $5 million in daily volume, whereas options trading are the easiest instrument to learn.
• Every feature of this mind-blowing trading platform is clear and concise.
• The site’s automated assistant answers traders’ questions as soon as they appear in the education section.
• Once registered, each trader will get a free demo account to practice risk-free trades.
• CFD is an arrangement made in financial derivatives trading where the differences in the settlement between the open and closing trade prices are cash-settled.
• If you make a trade up to £5,000, you also get the opportunity to interact with a VIP consultant personally.
• The company has been a Category A member of the Financial Commission since February 2016, which guarantees traders reliable service and the protection of their rights.

This online broker allows you to put your strategy into execution that often surprises you when you draw profitable outcomes. If you’ve never stepped into a fully digital trading platform, it’s the best way to move on. Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView, Inc. Olymp Trade has announced an introduction of a service levels system. In the first iteration, the company traders will receive Starter, Advanced, or Expert statuses.

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You can choose between standard to VIP trading account to start trade. It has been in the market of online trading for over 6 years and earned the trust of millions of traders worldwide. Olymp Trade is committed to providing transparent, reliable service, and paying close attention to client requests. Before investing your money, don’t forget to try a couple of strategies to determine what suits your goals and trading style best and thus minimise mistakes. Olymp Trade created its free educational material and built-in automated assistant, keeping the new traders in mind.

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Traders desired to experience a wide range of financial instruments offered under genuinely user-oriented terms. Respecting the recommendations of the users, the trading app introduced the Stock Price Trade service. There are trading strategies, workshops and webinars from the company’s analysts for traders of all levels in the “Education” section of the platform. It should be noted that there is a full economic calendar on the Olymp Trade platform, so no important news can be missed.

Why Beginners Should Choose Olymp Trade: Benefits of Olymp Trade

• The stock price range is very wide and allows any trader to find an SPT that matches their price targets.
• Over time, the platform has earned a high status in the online trading marketplace.
• 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.
• Also, the market situation can influence the fee structure set by the broker.
• Using your mobile phone camera, scan the code below and download the Kindle app.
• It’ll be best for new traders to skip this point if you haven’t yet grasped the vital information related to leverage.

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.

CFD is an arrangement made in financial derivatives trading where the differences in the settlement between the open and closing trade prices are cash-settled. Apart from educational tools, Olymp Trade comes with a plethora of features. The platform guides and encourages new users through recommendations. Surprisingly, Olymp Trade offers attractive deals and bonuses for its clients from time to time. In terms of deals and promotions, users can get a 50% bonus on their initial deposit.

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Overall, Stock Price Trades is a truly user-oriented trade mechanic. It may be a primary trade mechanic for those who want to invest long-term in a relaxed manner. At the same time, it may very well complement other mechanics offered by Olymp Trade and serve as a diversification element. Stock Price Trades offers traders a choice of more than 60 stocks to trade which includes internationally famous corporate giants as well as public companies that represent very specific market sectors. The company has been a Category A member of the Financial Commission since February 2016, which guarantees traders reliable service and the protection of their rights. According to a 4 February Mint report, RBI had noticed that these platforms offered a derivative product called contracts for differences (CFD) during the lockdown period.

Though, the country where you reside is the chief deciding factor in whether you can trade in a particular asset or not. Don’t worry then; the Olymp Trade Mobile app here comes up as the best option for you. Olymp Trade holds a reputed position in the industry since its first operation in 2014. The platform is famous for its loyalty and high-end efforts that satisfy its clients a lot. 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. Nvidia CEO Jensen Huang’s visit to Taiwan for the Computex trade show has sparked immense excitement.

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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.

• It should be noted that there is a full economic calendar on the Olymp Trade platform, so no important news can be missed.
• 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.
• Olymp Trade holds a reputed position in the industry since its first operation in 2014.
• The demo account by Olymp Trade is a complete copy of the premium account.
• Traders can later enable their real accounts and start trading practices with their own money.
• The platform is famous for its loyalty and high-end efforts that satisfy its clients a lot.

Olymp Trade Features

• Ads of many such platforms can also often be seen on popular social media platforms including YouTube.
• This online broker allows you to put your strategy into execution that often surprises you when you draw profitable outcomes.
• 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.
• Get to know where the market bulls are investing to identify the right stocks.
• Though, in terms of education, the platform assists new traders a lot.

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. 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. As Olymp Trade is not regularized by Indian authorities, various Indian banks are not dealing with the platform directly, only some international Devit/Credit are accepted on this platform.

Payment Methods provided by Olymp Trade

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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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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The trader can also place an order and get a position opened only after the specific 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.