OctaFX IPL Ad and Illegal CFD Trading

Hello @nithin,

In one of your posts (https://zerodha.com/z-connect/queries/the-twisted-world-of-illegal-cfds-binary-options), you mentioned how CFD trading is illegal in India. But, just today, I saw an ad on the IPL stream on Hotstar of OctaFX, advertising their international currency trading. They also mentioned that they are the Official Trading Partner of the Delhi Capitals.

How is this possible? If all this is illegal, how are they even allowed to advertise all this on Television?

Yeah, it is weird that no regulator is doing anything about this.

OctaFX has been sponsoring for ads in some regionalised YouTube Channels. I was surprised that these YouTube Channel do not do any due diligence prior to taking sponsorship.

Or maybe we are missing some loophole that they are using to trade in Forex Markets?

I mean, how can NOBODY from the regulatory body be doing anything about this, if it is actually illegal.

People are signing up for their account at OctaFX after these ads. And trading too. I personally know 3 people around me.