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Is Tradex.live regulated in India?
Synesis Thieme
India
2023-10-26
ANSWER Despite an address in India, there isn't any indication that Tradex.live is financially registered. It is an unlicensed trading platform.The Securities and Exchange Board of India (SEBI) is the regulatory authority that supervises all financial affairs in the securities market in India. Forex brokers in India should be regulated by the SEBI and should be authorized by the relevant authorities to ensure that all companies follow the FEMA guidelines on Forex trading. Brokers should display their license numbers on their websites. However, we went through the website of Tradex.live but didn't find any information regarding its regulatory status. Furthermore, it even conceals details of its actual operator and we couldn't even know the company name. Therefore, we tried to search for "Tradex", "Tradextime", and "Tradexlive" in the register of SEBI, but none of them yielded records matching this allegedly Indian broker.Therefore, Tradex.live is not a licensed broker. A trading platform in the absence of oversight would not comply with regulations. As such, individuals engaging with this unlicensed platform are at risk of fraud and identity theft. If anything goes wrong, they may not be able to recover their funds and get compensation. To mitigate the substantial risks, it is recommended to choose fully regulated brokers, where rules are in place to help safeguard investors' interests.
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