Exness Halts New Registrations in India
Retail broker Exness has stopped onboarding new clients in India, blocking access to account registration for users based in the country. The change appears to have taken effect without an official explanation from the company.
Indian users attempting to access Exness from local IP addresses are now redirected to a simplified login page with no signup option. Attempts to create new accounts trigger a message indicating that registration is not allowed from the region.
Registrations Not Available
Exness has not issued a public statement regarding the restriction or its duration. India remains a key growth market for offshore brokers, including Exness, which has operated locally via affiliates and introducing brokers.
Concerns for IBs Managing Client Networks
"For many of you who’ve grown with the platform, this change may raise concerns, especially for IBs managing active client networks, Musaddaq Shabir, the Business Development Manager at Neex, commented. "Having worked closely with Exness users, I understand the value you've created and the trust you've built. However, in times like these, having a clear and stable path forward is crucial."
The broker has also not indicated whether the change is temporary or permanent, and no additional information was available on whether similar measures would apply in other restricted markets.
Regulations in India
Interestingly, India’s securities regulator recently introduced a new payment verification system aimed at protecting retail investors from unauthorized brokers. The Securities and Exchange Board of India (SEBI) mandated that all registered intermediaries adopt a standardized UPI payment handle ending with “@valid” by October.
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The system will reportedly feature a green triangle with a thumbs-up icon, confirming the recipient’s registration status during fund transfers. The initiative is designed to curb the rise of unregistered entities operating in the financial markets and enhance trust in digital transactions involving brokers, mutual funds, and other licensed intermediaries.
The forex market remains highly regulated in India. In recent years, India’s two major stock exchanges, the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), have issued warnings to investors about unregulated derivative products such as contracts for difference (CFDs) and binary options, which are not permitted for trading under local regulations.