Exness of the retail broker has stopped boarding new customers in India, blocking account access to users in the country. The change appears to be effective without a formal explanation from the company.

Now, Indian users trying to access Exness from their local IP address now redirect it to a simplified login page without the registration option. An attempt to create a new account triggers a message indicating that registration is not allowed in the region.

Registration is not available

grace No public statements regarding restrictions or duration have been issued. India remains a key growth market for offshore brokers, including Exness, which has been operated locally through branches and introduction brokers.

IBS concerns about managing customer networks

“For many people who have grown up with the platform, this change may attract attention, especially for IBS, which manages the network of active customers, commented Musaddaq Shabir, Business Development Manager at NEEX. But it is crucial to have a clear and stable path in such an era.”

The broker has not pointed out whether the change is temporary or permanent, nor has there been additional information on whether other restrictions on the market apply to similar measures.

Indian regulations

Interestingly, India’s securities regulators have recently A new payment verification system has been introduced to protect retail investors from unauthorized brokers. The Securities and Exchange Commission of India (SEBI) stipulates that all registered intermediaries adopt a standardized UPI payment handle, ending with “@Valid” by October with “@Valid”.

Read more: Exness Connect: The first global summit unites more than 350 partners

The system will reportedly have a green triangle with an icon with a thumb, confirming the recipient’s registration status during the fund transfer. The program aims to curb the rise of unregistered entities operating in financial markets and to enhance trust in digital transactions involving brokers, mutual funds and other licensing intermediaries.

The forex market remains highly regulated in India. In recent years, two major stock exchanges in India, the National Stock Exchange (NSE) and the Mumbai Stock Exchange (BSE) have already been included. Warn investors about unregulated derivatives (such as contracts) (CFD) and binary options are not allowed under local regulations.

This article was written by Jared Kirui on www.financemagnates.com. (tagstotranslate)Exness



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