Russian broker VTB Capital Forex has announced resuming trading operations on the Forex market for its clients.
The broker noted that the trading pairs available to trade on its platform will not include rubles.
VTB Forex stated:
The company’s clients will have access to 22 currency pairs (except for rubles). The minimum trade volume will be 0.01 lots. The maximum size of the total open position is 10 lots.
The Russian forex dealer VTB Forex is a part of Russia’s second-largest lender VTB Bank. The bank was recently heavily hit by western sanctions imposed by western governments over Russia’s invasion in Ukraine.
Furthermore, the European Union imposed a SWIFT ban on VTB Bank, along with six other Russian banks.
VTB Forex temporarily suspended its services on 25 February due to the implications of the anti-Russian sanctions.
Other Russian forex brokers initially suspended ruble pairs as the RUB fell 60% against the US dollar.
Meanwhile, the Central Bank of Russia suspended the sale of retail forex temporarily. The bank also recently changed the process of calculating USD/RUB rate, expand the time frame for calculation in order to address the elevated volatility in the foreign exchange market.
The Moscow Exchange has been closed for three weeks.
Russian-owned UK broker Sova Capital entered special administration earlier in March due to liquidity problem.
