FXTM holds no license from SEBI or the RBI. They are not registered as a Forex broker in India. Consequently, they operate as an offshore entity serving Indian clients.
FXTM is a globally recognized brand, but it operates through different entities depending on your location. Globally, FXTM holds licenses from:
: To operate legally in India, a broker must be registered with the Securities and Exchange Board of India (SEBI) . FXTM does not hold a SEBI license. FEMA Violations fxtm is legal in india
Forex trading in India is only permitted under specific, strict conditions: Is FXTM Available to Investors in India? - BrokerChooser
"The Reserve Bank of India has noticed that certain online trading platforms are offering forex trading facilities to Indian residents in unauthorized currency pairs… Residents are cautioned not to undertake such transactions or remit funds for such purposes. Any person contravening FEMA is liable for prosecution." FXTM holds no license from SEBI or the RBI
Several Indian banks (HDFC, ICICI, SBI) now automatically flag and block international transactions to broker codes (MCC 6211). If caught, your bank may freeze your account or cancel your card.
The RBI has repeatedly issued public warnings against trading on overseas forex platforms. In a 2022 circular, the RBI explicitly named several international forex brokers (though not always FXTM by name) and stated: FXTM is a globally recognized brand, but it
Under , Indian residents are not allowed to remit money abroad (via international wire, credit card, or e-wallets) to trade in forex contracts that are not traded on a recognized Indian stock exchange. Since FXTM offers EUR/USD, GBP/JPY, Gold, Oil, and Crypto CFDs – all prohibited under FEMA – any Indian citizen funding an FXTM account is technically violating the law.
FXTM is a globally reputable broker regulated by: