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 / NordFX / Legal in India?

OFFSHORE · FSC-MU · Saint Lucia company registryVerdict 6.3 / 10 · #57

Is NordFX legal in India?

Short answerNo, not as an authorised platform. The Reserve Bank of India lists NordFX on its Alert List of entities not authorised to deal in forex or run forex platforms for Indian residents. Licences: FSC-MU · Saint Lucia company registry (best: Offshore). None of these is an Indian licence.

The facts

RBI Alert List

Listed as "Nord FX"

List date

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

Licences held

FSC-MU · Saint Lucia company registry

Accepts Indian residents (own terms)

Not excluded

UPI

Yes

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

Questions

Is NordFX banned in India?

NordFX is on the RBI Alert List. The RBI warns residents not to trade forex on listed platforms; remitting money to them can breach FEMA.

Is NordFX regulated?

NordFX lists licences from FSC-MU · Saint Lucia company registry. 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.