The NordFX RBI warning concerns authorisation in India. The Reserve Bank of India’s Alert List, updated on 19 November 2025, names NordFX among entities that are not authorised to deal in foreign exchange under the Foreign Exchange Management Act, 1999 and are not authorised to operate a forex electronic trading platform under the RBI’s directions. This is an official authorisation notice, not a fine or a finding that every customer transaction was unlawful.
What the Reserve Bank of India Alert List Says
The RBI says its list covers entities and platforms that lack the relevant Indian forex authorisation, as well as websites that appear to promote unauthorised services. It also warns that the list is not exhaustive: absence from it should not be treated as proof that a platform is authorised.
NordFX was one of seven names added in the November update. For Indian residents, the practical point is jurisdiction-specific. A licence issued elsewhere does not replace the permissions required under FEMA or the RBI’s electronic trading platform framework.
NordFX’s Disclosed Regulatory Structure
NordFX discloses Maximus Global Ltd, licensed by the Seychelles Financial Services Authority under licence SD065, and Nord Premium Ltd, licensed by the Mauritius Financial Services Commission under licence GB24204016. The group also discloses NordFX Ltd in Saint Lucia without identifying a financial regulator for that entity in the supplied material.
Those overseas registrations should be assessed on their own terms, but none authorises NordFX to provide forex services to Indian residents. The group’s disclosed structure also does not include a licence from a regulator generally treated as tier one, such as the UK FCA or Australia’s ASIC.
What Traders Should Check Before Funding an Account
Indian residents should consult the RBI’s current Alert List and authorised-person records directly rather than relying on a global licence claim or a website’s availability. Every trader should identify the contracting company, verify the licence number on the regulator’s own register and confirm whether the licence covers the trader’s country and product.
The supplied research also cited a Trustpilot reviewer who wrote on 31 December 2025 that a partner incentive payment had disappeared without explanation. That separate complaint has not been independently adjudicated and should not be confused with the RBI’s official authorisation finding. Readers can compare regulatory reach and account protections in our Best Forex Brokers in 2026 directory.
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The RBI notice answers a narrow but important question: NordFX is not authorised for the Indian forex activities described by the central bank. Seychelles and Mauritius licences do not extend automatically to India, and a Saint Lucia registration is not a substitute. Traders should judge authorisation at the entity-and-country level, not by brand recognition alone.
About NordFX
Business: Forex and CFD broker
Disclosed entities: Seychelles, Mauritius and Saint Lucia
Named licences: FSA SD065 and FSC GB24204016
India status: Named on the RBI Alert List
Frequently Asked Questions
Is NordFX authorised in India?
No. The RBI Alert List updated on 19 November 2025 names NordFX among entities not authorised for the forex activities described by the central bank.
Is NordFX regulated elsewhere?
NordFX discloses licences in Seychelles and Mauritius, plus a Saint Lucia entity for which the supplied company disclosures did not identify a financial regulator.
What does an RBI Alert List entry mean?
It means the named entity or platform is not authorised by the RBI to deal in forex under FEMA or operate an authorised forex electronic trading platform in India. It is an alert listing, not a monetary penalty.