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Is Olymptrade safe and registered in India: 2026 RBI Alert List facts

Olymp Trade is on the Reserve Bank of India Alert List. We could not match a SEBI licence on the registers we check. The RBI states the platform is not authorised to deal in forex. Recent user reviews average 2.79 out of 5, with the top complaint being that money did not arrive.

By Qrates research desk · 2026-10-27

Quick answer: Is Olymp Trade legal and safe in India?

  • Olymp Trade is on the RBI Alert List as of November 19, 2025.
  • We could not match a SEBI licence for Olymp Trade on the registers we check.
  • The RBI states it is not authorised to deal in forex or run a forex trading platform in India.
  • Recent user reviews average 2.79, with the top complaint being that money did not arrive.

Licence and registration

Stock broking and trading apps in India must be registered with the Securities and Exchange Board of India. SEBI registration provides retail investors with access to the SCORES portal for grievance redressal. This system helps protect your money if a broker fails to return your funds.

We checked the official registers for SEBI, RBI, and IRDAI. We could not match a licence for Olymp Trade on the registers we check (Qrates directory). This means the platform operates without standard Indian regulatory oversight.

This lack of registration is true despite what YouTube ads or influencers might claim. If you want to find platforms that hold proper regulatory licences, you can check our directory of stock broking and trading apps.

Regulator warnings and the RBI Alert List

The Reserve Bank of India maintains an Alert List of unauthorised trading platforms. This list names entities that are not permitted to operate electronic trading platforms for foreign exchange transactions. Olymp Trade is explicitly named on the RBI Alert List updated on November 19, 2025.

The RBI warns that Olymp Trade is not authorised to deal in forex under the Foreign Exchange Management Act. FEMA is the primary law that regulates all foreign exchange transactions in India. Depositing money into unauthorised forex platforms carries legal risks under these FEMA regulations.

Indian residents can send money abroad for specific permitted purposes under the Liberalised Remittance Scheme. However, margin trading in foreign exchange is not a permitted reason for remitting money under this scheme. Using platforms like Olymp Trade can lead to direct violations of the Foreign Exchange Management Act. If you ever encounter issues with digital payments, you should understand the what to do in the first hour after a UPI fraud to protect your assets.

What the Olymp Trade app can read on your phone

The Olymptrade (Trading online) app has over 10 crore installs on Google Play (Qrates directory). When you install a money app, it asks for permissions to access data on your device. You can compare money apps side by side to see how their permission requests differ.

According to Google Play data, the app requests permission to see your location (Qrates directory). It does not ask for intrusive permissions like reading your contacts or SMS messages. The app was last updated 5 days ago.

What users complain about

The app has an all-time Google Play rating of 3.51 from 10,10,640 ratings (Qrates directory). However, the average of recent reviews over the last 90 days has dropped to 2.79. Qrates read 388 recent Google Play reviews to see what users actually experience. You can also explore every money app in India to find alternatives that are more transparent.

The most raised problem in store reviews is that money did not arrive. The publisher replies to 100 percent of one and two-star reviews (Qrates directory).

Top user reports Frequency
Money did not arrive 6 of 388 reviews
Nobody answers 5 of 388 reviews
Pushed into things 3 of 388 reviews
Easy to use (Praise) 8 of 388 reviews

How to check this yourself

Step 1: Check the SEBI registered intermediaries list

  1. Go to the official SEBI website.
  2. Search the registered intermediaries database for the company name.
  3. Look for a valid registration number that matches the app publisher.

Step 2: Check the RBI Alert List

  1. Visit the official RBI website.
  2. Search for the Alert List of unauthorised electronic trading platforms.
  3. Check if the forex trading app or company name is flagged on this list.
  4. Never rely solely on influencer videos or app store ratings to verify if a platform is legal.

FAQs

Is Olymp Trade approved by RBI?

No. Olymp Trade is explicitly named on the RBI Alert List updated on November 19, 2025. The RBI states it is not authorised to deal in forex or operate a forex trading platform in India.

Is Olymp Trade SEBI registered?

We could not match a SEBI licence for Olymp Trade on the registers we check. Stock broking and trading apps in India are required to be registered with SEBI to offer investment services legally.

Can I withdraw money from Olymp Trade in India?

Users report withdrawal problems on the platform. "Money did not arrive" is the top complaint found in recent Google Play reviews read by Qrates.

What happens if I use Olymp Trade in India?

You risk losing your money without regulatory protection because the platform lacks a SEBI licence. You also face potential FEMA violations for using unauthorised forex platforms to trade margins.

The short version

  • Olymp Trade is on the RBI Alert List of unauthorised forex trading platforms.
  • We could not match a SEBI licence for the app on the registers we check.
  • Using unauthorised platforms for forex trading can violate FEMA regulations.
  • Recent user reviews average 2.79 out of 5.
  • The most common user complaint is that money did not arrive.

Sources

Disclaimer

Qrates is an information directory. It takes no commission from any company listed and does not recommend products. Figures are taken from the sources named and dated, and they change; check the company's own page before you decide. This is not investment, credit, insurance or tax advice for your situation. A licence or a clean record today does not guarantee how a company behaves later. To complain, use the regulator's own portal (RBI CMS, SEBI SCORES or IRDAI Bima Bharosa).

Questions people ask

Is Olymp Trade approved by RBI?

No. Olymp Trade is explicitly named on the RBI Alert List updated on November 19, 2025. The RBI states it is not authorised to deal in forex or operate a forex trading platform in India.

Is Olymp Trade SEBI registered?

We could not match a SEBI licence for Olymp Trade on the registers we check. Stock broking and trading apps in India are required to be registered with SEBI to offer investment services legally.

Can I withdraw money from Olymp Trade in India?

Users report withdrawal problems on the platform. "Money did not arrive" is the top complaint found in recent Google Play reviews read by Qrates.

What happens if I use Olymp Trade in India?

You risk losing your money without regulatory protection because the platform lacks a SEBI licence. You also face potential FEMA violations for using unauthorised forex platforms to trade margins.

Sources

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