MCX Warns Investors of Fraudulent Entity Impersonating Its Brand

The Multi Commodity Exchange (MCX), India's leading commodity derivatives exchange, has issued a public warning alerting investors about a fraudulent entity falsely claiming affiliation with its brand.

The entity operates under the name “Khalda Parween,” committing fraud through Telegram groups titled "Finance Specialist" and "Advanced Group (E..27)," as well as a fake website: xls.tusplid.com.

According to MCX, the fraudulent entity is misleading investors by falsely promoting illegal commodity derivatives trading under the guise of an MCX association. The Exchange has firmly stated that it has no connection to these groups, individuals, or platforms. Furthermore, MCX clarified that these groups are neither associated with a Member nor an Authorized Person of any of the Members of the Exchange.

MCX has filed a police complaint and urged investors to remain cautious. “Investors are cautioned and advised NOT to trade on such illegal trading platforms in Commodity Derivatives Market as the same is prohibited by law. Participation on such illegal platforms is at the investor’s own risk, cost and consequences as such illegal trading platforms are not regulated by SEBI, the regulatory authority,” said MCX in a statement.

MCX has also emphasized the following key points:

• “Khalda Parween” is not registered with MCX in any capacity—neither as a member, nor as an authorized representative of any member.
• The Telegram-based operations and the website in question are not regulated by SEBI, India’s capital markets regulator.
• Investors dealing through such unauthorized platforms are exposed to significant risk without any legal or regulatory protection.