The Reserve Bank of India (RBI) has put 13 companies on its alert list for unauthorized forex trading platforms. This move aims to protect investors from scams and illegal activities.
The RBI's action follows reports of people losing money on these platforms, which often promise high returns but are actually fraudulent. The listed firms include names like India Forex, Forexcrunch, and Xtrader, among others. The RBI stresses that trading in foreign exchange requires proper licensing and that investors should be cautious.