5 minute read
Is JustMarkets Legal in Nepal? A Comprehensive Review
from JustMarkets
by Exness_India
Yes, JustMarkets is not legally authorized to operate in Nepal. The Nepal Rastra Bank (NRB), which is the central bank and primary financial regulator of the country, has made it clear that forex trading via unregulated foreign platforms like JustMarkets is illegal for Nepali residents. Despite its international presence and reputation, JustMarkets is not licensed or registered to offer services within Nepal’s regulatory framework. As such, using JustMarkets in Nepal poses legal risks and potential penalties under the nation's foreign exchange and investment laws.
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Understanding Nepal’s Stance on Forex Trading
Nepal is one of the strictest countries in South Asia when it comes to foreign exchange regulations. The Foreign Exchange Regulation Act, 1962 prohibits unauthorized transactions involving foreign currency or assets. The Nepal Rastra Bank (NRB) plays a crucial role in overseeing foreign currency dealings and ensuring that all financial activities comply with national laws.
Under these laws:
Residents are not permitted to open or operate foreign currency accounts without NRB’s approval.
Sending money abroad or investing in foreign financial platforms—such as JustMarkets—without prior consent from NRB is considered illegal.
Engaging in online forex trading via international brokers that do not hold a Nepali license is against the law.
This means that even if platforms like JustMarkets are globally regulated by authorities in other jurisdictions (such as the Seychelles FSA or the CySEC), their services are not recognized or permitted within Nepal.
What Is JustMarkets?
JustMarkets is a global retail forex broker offering a variety of trading instruments including forex pairs, commodities, indices, and cryptocurrencies through platforms like MetaTrader 4 and MetaTrader 5. The company is registered offshore and serves clients in over 180 countries.
However, it is important to understand that offshore registration does not grant universal legal access. JustMarkets may be legitimate in other jurisdictions, but that does not make it legal in Nepal, where the rules governing foreign exchange are much more restrictive.
Is There Any Legal Loophole for Nepali Traders?
The short answer is: No.
Some individuals may try to bypass regulations using VPNs or international e-wallets to register and deposit funds with platforms like JustMarkets. However, this practice is not only legally risky but also exposes traders to potential:
Frozen accounts if the broker identifies suspicious activity.
Legal consequences, including fines or even imprisonment, if caught by local authorities.
Loss of funds, as traders have no legal recourse in case of broker disputes.
Nepal does not allow citizens to hold or send foreign currency for investment without proper approval. Even small-scale forex trading is treated as currency smuggling if done outside regulated channels.
JustMarkets and Its Legal Standing Globally
To be clear, JustMarkets is not a scam. It is a legitimate broker in the countries where it is licensed. For example, it is registered and regulated by:
The Financial Services Authority (FSA) of Seychelles.
Other financial bodies depending on the jurisdiction.
But none of these licenses apply to Nepal. These authorities do not provide protection to Nepali traders. In the eyes of the NRB, trading with such a platform is an unauthorized foreign transaction.
So, while JustMarkets might promote “global availability,” its services are not legally accessible in every country, especially in jurisdictions like Nepal where forex trading is highly regulated or outright banned.
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NRB's Official Warnings Against Forex Trading
Nepal Rastra Bank has repeatedly issued public warnings and press releases stating that online forex and cryptocurrency trading through foreign platforms is strictly prohibited. The NRB has even cracked down on local agents promoting forex schemes and has taken action against those facilitating fund transfers for trading.
Additionally, the NRB has blocked several websites and applications related to unauthorized trading and has increased surveillance of suspicious international transactions.
Any individual found to be sending money abroad for investment in such platforms may face:
Heavy fines
Legal prosecution
Asset freezing
Bank account blacklisting
This strict policy is part of the government’s efforts to protect foreign reserves and curb illegal capital outflow.
What Are the Legal Alternatives for Nepali Investors?
Nepali investors interested in trading or investing should explore domestic, legally-approved options such as:
The Nepal Stock Exchange (NEPSE) – the country’s official stock market.
Investment through authorized mutual funds and portfolio managers licensed by the Securities Board of Nepal (SEBON).
NRB-approved banks and financial institutions for fixed income or savings instruments.
Until Nepal amends its legal framework to allow foreign trading platforms (which is unlikely in the short term), these are the only safe and legal options.
Risks of Trading on JustMarkets from Nepal
Even if you manage to create an account on JustMarkets using unofficial methods, there are several risks involved:
No Legal Recourse
If the broker freezes your account or you lose funds due to volatility, you have no way to legally recover losses since your trading activity is not protected under Nepali law.
Violation of NRB Regulations
Your activities can be traced through banking or internet footprints, and NRB takes violations seriously. You could face jail time or fines.
Cybersecurity Risks
Trading via VPNs and unofficial payment channels exposes you to phishing, scams, and malware.
Blocked Access
If NRB or ISPs start blocking access to certain broker websites or trading platforms (as has happened before), your funds could get trapped.
Final Verdict: Is JustMarkets Legal in Nepal?
No, JustMarkets is not legal in Nepal.
Despite its international standing, JustMarkets is not authorized by any regulatory body within Nepal. Using it as a Nepali resident constitutes a violation of the Foreign Exchange Regulation Act and NRB guidelines. Individuals who attempt to bypass these rules are taking serious financial and legal risks.
Until and unless Nepal revises its policies on forex trading—which remains unlikely in the near future—you should avoid using JustMarkets or any similar foreign platform.
If you are serious about investing, the best move is to consult a licensed financial advisor in Nepal and operate strictly within the legal boundaries set by the NRB and SEBON.
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