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 and comes
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.
The broker also informed its affiliate partners that
it would no longer accept referrals from India. The directive instructed
partners to cease all client acquisition efforts in the country.
Existing Clients Unaffected
While new registrations are blocked, existing users in
India can reportedly still log into their accounts and continue trading. According to the available access paths, there has been no disruption in service for current clients.
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.
“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 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.
Expect ongoing updates as this story evolves.
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 and comes
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.
The broker also informed its affiliate partners that
it would no longer accept referrals from India. The directive instructed
partners to cease all client acquisition efforts in the country.
Existing Clients Unaffected
While new registrations are blocked, existing users in
India can reportedly still log into their accounts and continue trading. According to the available access paths, there has been no disruption in service for current clients.
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.
“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 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.
Expect ongoing updates as this story evolves.
This post is originally published on FINANCEMAGNATES.
