About RouteForex
Who is RouteForex?
RouteForex Solutions Pvt. Ltd. is a forex services provider based in New Delhi, India. Founded on 19 December 2019, the company operates from Flat No 326, 3rd Floor, US Complex, 120, Mathura Road, Sarita Vihar, opposite Apollo Hospital. It also has branch offices in Pune and Faridabad. RouteForex positions itself as a technology-driven platform offering a range of foreign exchange services to both individuals and corporate clients.
The company's primary activities include currency exchange (money changing), forex transaction processing, and broking in currency derivatives on recognised exchanges. According to its website, it has facilitated over $800 million in volumes and processed more than 3,000 transactions. The firm claims to have a specialised team and a dedicated dealing room to serve its clients.
Regulatory Status
As of our review, RouteForex is not regulated by any financial regulatory authority on file. The company operates in India, where forex activities are generally governed by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) for exchange-traded derivatives. However, RouteForex does not publicly disclose any specific regulatory licence or membership on its website. This lack of regulatory oversight is a significant consideration for users entrusting funds to the platform.
The absence of regulation means that client funds are unlikely to be protected under any investor compensation scheme. Traders and customers should be aware of the heightened risk when dealing with unregulated entities. The company's risk score of 75/100 from FXCanary reflects this severe concern.
Account Types and Services
RouteForex does not offer typical retail forex/CFD trading accounts with leverage. Instead, it provides services tailored to currency exchange and transaction processing. For individuals, the website lists a 'Buy Forex' and 'Sell Forex' service with options for self or on behalf of family members. The services include doorstep delivery of foreign currency notes and forex cards within 24-48 hours.
For corporate clients, RouteForex provides Forex Transaction Processing (FTP), which includes bank negotiation, rate comparison, and deal execution in under two minutes. The company also offers a 'Historical Rate Check' tool and a 'Trial Transaction' service. Additionally, there are two research subscription tiers: FX Daily Research and FX Premium, delivering market reports and forecasts.
Platforms and Funding
RouteForex provides a mobile application called 'RouteMobile' available for download from its website. The app allows users to compare live rates, conduct transactions, and access historical data. The website also enables online booking for currency exchange with payment via debit card, net banking, NEFT/RTGS.
For broking services (currency derivatives), the company states it can facilitate trading on exchanges, though specific platform details are not elaborated. The company's website mentions a 'Broking Service' page that likely offers access to currency futures and options trading through exchange members.
Target Audience
RouteForex primarily targets Indian residents and corporates engaged in international business. Individual travellers needing foreign currency for holidays or business trips are a key audience. The SME and mid-market corporate segment is also emphasised, with products designed to reduce transaction costs and increase transparency.
The company's research services are aimed at forex traders looking for daily analysis and forecasts. However, given the lack of regulation, it is not suitable for traders seeking a secure, regulated environment for speculative trading.
Overview compiled by FXCanary from regulatory records and public data. full RouteForex review