Many of the online forex-trading platforms operating globally — including ones like “WinProFX” — are not regulated by Securities and Exchange Board of India (SEBI). Under Indian regulations, forex trading by retail investors is only legal when done through SEBI-registered brokers, trading INR-based currency derivatives (e.g. USD/INR, EUR/INR, GBP/INR, JPY/INR) on recognized exchanges such as National Stock Exchange of India (NSE), Bombay Stock Exchange (BSE), or Metropolitan Stock Exchange of India (MCX-SX).
In practice, only Indian brokers like Zerodha, Upstox, Angel One, ICICI Direct, HDFC Securities, Sharekhan, Motilal Oswal and 5paisa — or similar SEBI-registered brokers — are legally allowed to provide online forex services in India.
Therefore, if “WinProFX” refers to an international/offshore forex-trading app offering non-INR pairs or global CFDs, it is almost certainly not SEBI-regulated — and using it could violate Indian law under Foreign Exchange Management Act, 1999 (FEMA) and guidelines from the Reserve Bank of India (RBI).
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