Cyprus financial regulator CySEC has issued a new circular, warning CIF licensed entities in the country (mainly Retail FX and CFD brokers) that they should not be taking clients from Russia, unless properly licensed in that country. The Bank of Russia introduced licensing for Retail FX brokers in 2016, and has handed out just a…
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LeapRate Exclusive... LeapRate has learned from Bank of Russia documents that retail forex broker Forex Club has become the fifth company to receive a license to operate in Russia with retail clients. Russia passed a Forex Law last year, requiring any broker soliciting or engaging in trading with retail clients to receive a license as…
Read moreThe following guest post is courtesy of Sergey Kornev, Account Manager at MT4 technologies provider and Russian FX market expert Takeprofit Technology. Takeprofit’s products include MT4 plugins, the Klondike liquidity bridge, and the Ashira automated dealer anti-cheating defense. Takeprofit’s clients have included Forex brokerages and white-label solution providers such as FXNet, iTradeSolution, FXFair, TenkoFX, and…
Read moreOne of the biggest jurisdictions in the world is still without a Forex law, as lawmakers remain reluctant to discuss the Forex bill. The second reading of Russia's Forex bill, which was supposed to be finally held yesterday, got postponed again. A protocol from a meeting of the Council of the State Duma (the lower…
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