authorizedforex

Forex has become popular in India in the past decade but in the beginning, it was characterized by a large number of broker scams. Paired with the risky nature of Forex trading, all this urged authorities to put various restrictions on the Forex trade in place. Currently, Indian citizens are allowed to trade on the foreign exchange market but they need to comply with a wide range of rules and limitations. One of the first things that traders should look for while choosing a forex broker is their authorization to operate in a specific country. As mentioned earlier, the RBI and SEBI are the main regulatory bodies for forex trading in India. According to the guidelines set by these bodies, any forex broker operating in India must obtain authorization from the RBI and register with SEBI. Engaging in illegal forex trading can lead to severe consequences. As per the Foreign Exchange Management Act (FEMA), individuals involved in unauthorized forex trading can face penalties, including fines and imprisonment. It is crucial to adhere to legal guidelines and trade only through authorized platforms to avoid such risks.
authorized forex brokers in india