Etoro, the largest social trading brokerage, will stop offering Forex trading to its clients in Russia.
The change comes into effect from September 13.

The eToro decision is most likely made in compliance with Russian legislation, which requires a forex trading license, which they don't have.

mlawson71 wrote: Wed Sep 13, 2017 11:38 pm Etoro, the largest social trading brokerage, will stop offering Forex trading to its clients in Russia.
The change comes into effect from September 13.

The eToro decision is most likely made in compliance with Russian legislation, which requires a forex trading license, which they don't have.

Is it not strange,big organizations like this functioning with out license

Russia is a large market and seems a bit strange for a company as eToro to reject applying for a license to keeps its full scope of operations there. Or there is something else ...

I cant understand either why they would not want to obtain a license . There is something shady, why would they give up on the Russian market, taking into consideration their partnership with Sberbank which provided a massive market and good opportunities to them.

The license will cost them probably some significant sum and that could be considered as one of the reasons. However, I’m sure that there are other options that could be implemented.
For example, some of the brokers are offering exchange listed products that are not forbidden and that’s how they keep serving Russian residents. Other are accepting professionals only.