Re: Russia Prepares Steps to Forbid Unregulated Brokers from Operating

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TheNews 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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[url=http://www.financemagnates.com/forex/brokers/russia-prepares-steps-forbid-unregulated-brokers-operating/]Read more ...[/url]
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 trade ;)




Re: Which broker do you use?

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According to my research, IC Markets must be the largest broker in the world for retail customers, excluding brokers in Japan. The forex spreads are very low, even in exotic pairs. Then we have Pepperstone which has very low spreads, but not as low as IC Markets. I left IC Markets and went to Pepperstone because they have continuous commodity CFDs, with no expiration date. And trading indices is more affordable with Pepperstone, because the minimum lot is 0.10 while at IC Markets it is 1.00 L.


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