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 article was written by Jared Kirui at www.financemagnates.com.Retail FXRead More

You might also be interested in reading Russian crypto mining firm scrambles to meet foreign demand.