Exness 9.9UnlimitedIC Markets 9.81:5,000FP Markets 9.21:500Axi 9.11:1,000Fusion Markets 9.01:500Vantage 9.0UnlimitedDeriv 8.81:1,000Zero Markets 8.81:500GO Markets 8.71:500AvaTrade 8.51:400FBS 8.31:3,000LiteFinance 8.31:1,000Moneta Markets 8.11:1,000Octa (OctaFX) 8.11:1,000Exness 9.9UnlimitedIC Markets 9.81:5,000FP Markets 9.21:500Axi 9.11:1,000Fusion Markets 9.01:500Vantage 9.0UnlimitedDeriv 8.81:1,000Zero Markets 8.81:500GO Markets 8.71:500AvaTrade 8.51:400FBS 8.31:3,000LiteFinance 8.31:1,000Moneta Markets 8.11:1,000Octa (OctaFX) 8.11:1,000

Home / Rankings / Axi / Legal in India?

TIER 1 · SVG-FSA · FCA · ASICVerdict 9.1 / 10 · #4

Is Axi legal in India?

Short answerAxi isn't on the RBI Alert List, but that doesn't make it authorised. Indian residents may legally trade forex only in permitted INR pairs on recognised Indian exchanges through SEBI-registered brokers. Licences: SVG-FSA · FCA · ASIC (best: Tier 1). None of these is an Indian licence.

The facts

RBI Alert List

Not listed

List date

19 Nov 2025 (RBI press release 2025-2026/1530)

Licences held

SVG-FSA · FCA · ASIC

Accepts Indian residents (own terms)

Not excluded

UPI

INR bank transfer only

Data as of 2026-10-24, from Axi's own site and the sources on its full review. RBI list: RBI press release 2025-2026/1530, 19 Nov 2025.

Questions

Is Axi banned in India?

Axi isn't on the RBI Alert List as of 24 Oct 2026, but it isn't authorised by the RBI or SEBI either.

Is Axi regulated?

Axi lists licences from SVG-FSA · FCA · ASIC. These are foreign regulators; none authorises forex trading for Indian residents.

What is the legal way to trade forex in India?

Currency futures and options on NSE and BSE in permitted INR pairs (USD/INR, EUR/INR, GBP/INR, JPY/INR) and cross-currency pairs, through a SEBI-registered broker.