Forex trading in India is tightly regulated by the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI). Only currency derivatives involving INR-based pairs traded on recognised exchanges like NSE, BSE, and MCX-SX are legal for retail investors in India.

Is Exness SEBI Registered?

• Exness is NOT registered or regulated by SEBI.
• Exness operates as an international broker regulated by authorities such as the FCA (UK), CySEC (Cyprus), and FSCA (South Africa) but does not hold a SEBI license.
• Indian residents using Exness are technically trading through an offshore entity, which is not authorised under Indian law. This carries regulatory and legal risks.

Legal Forex Trading in India

• Indian traders must use SEBI-registered brokers for forex trading involving INR currency pairs (USD/INR, EUR/INR, GBP/INR, JPY/INR).
• Brokers like Zerodha, Angel One, ICICI Direct, Upstox, and HDFC Securities are SEBI-authorised and provide access to currency futures and options on NSE and BSE.

Risks of Using Non-SEBI Brokers Like Exness in India

• No regulatory protection under Indian law
• Potential blocking of withdrawals and deposits by Indian banks
• Violation of Foreign Exchange Management Act (FEMA) regulations
• No recourse if broker acts unfairly or becomes insolvent

What Indian Traders Should Do

• Verify broker registration on SEBI’s official website
• Trade only INR-based currency derivatives on recognised Indian exchanges
• Avoid offshore brokers not compliant with Indian regulations

Key Takeaways

• Exness is a reputable global broker but not SEBI-registered
• Forex trading in India is legal only via SEBI-registered entities on INR pairs
• Indian traders using Exness face legal and financial risks
• Always verify a broker’s SEBI registration before trading forex in India

Frequently Asked Questions

Is Exness registered with SEBI?

No, Exness is not registered with SEBI and operates offshore.

Can Indian residents legally trade forex with Exness?

No, Indian regulations restrict forex trading to SEBI-registered brokers and INR pairs.

Which forex brokers are SEBI registered?

Brokers like Zerodha, Angel One, ICICI Direct, Upstox, and HDFC Securities.

What risks do Indian traders face with non-SEBI brokers?

Legal violations, blocked funds, no investor protection, and potential penalties.

Where can I check if a broker is SEBI registered?

On the official SEBI website under the Intermediary Search section.

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