Yes, most of the brokers already started to terminate clients from Russia as far as I understood. Pretty sad, but there will still be a way to tradeTheNews wrote: Thu May 11, 2017 3:09 am The Federal Antimonopoly Service Brokers that are willing to operate in Russia will have to be regulated
The Federal Antimonopoly Service (FAS) in Russia is preparing to take action against brokers that are operating in the country without a license. Just after the long-awaited regulatory framework in Russia kicked in earlier this month, Russian authorities are making pledges to reign in the market.
There is no clarity what are the measures which the country’s authorities are preparing to take against foreign brokers that are operating in Russia. However it appears as if the primary effort will be directed towards local companies that are operating in the country without a license.
Russia was developing its regulatory framework for forex brokers for several years before it came into force earlier this month, enabling regulated brokers to advertise their products.
At present the Russian market is heavily fragmented with a number of brokers that do not have a Russian license still managing to attract customers despite not being able to officially advertise. Brokers that are based outside of Russia have a good chance to attract clients because they sometimes are regulated by institutions which are outside of the country.
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