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The Russian Central Bank obliterates the Russian broker industry before the holidays

#1
The Russian Central Bank announced that it is revoking the licenses of most of the Forex brokers operating on Russian soil - Alpari, TeleTrade, TrustForex, and Forex Club – due to violations of Russian law.

The Russian financial mega-regulator has backed its decision with detailed information on each company’s incompliances. The most common among them are failure to comply with CRB’s instructions, providing false accounting data or false information on its website, detected flaws in the risk management system and other violations of the Forex dealer license requirements.

Alpari, TeleTrade, TrustForex, and Forex Club are now given a one-month term to cease all operations and return deposits to their clients.


Re: The Russian Central Bank obliterates the Russian broker industry before the holidays

#2
mlawson71 wrote:
Tue Jan 01, 2019 1:19 am
The Russian Central Bank announced that it is revoking the licenses of most of the Forex brokers operating on Russian soil - Alpari, TeleTrade, TrustForex, and Forex Club – due to violations of Russian law.

The Russian financial mega-regulator has backed its decision with detailed information on each company’s incompliances. The most common among them are failure to comply with CRB’s instructions, providing false accounting data or false information on its website, detected flaws in the risk management system and other violations of the Forex dealer license requirements.

Alpari, TeleTrade, TrustForex, and Forex Club are now given a one-month term to cease all operations and return deposits to their clients.
Shit. Even Alpari? Wow
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Re: The Russian Central Bank obliterates the Russian broker industry before the holidays

#5
mlawson71 wrote:
Tue Jan 22, 2019 1:19 am
There seem to be some problems with Alpari, even in its non-Russian branches, because the company announced that it will not be able to process payments with VISA cards in US dollars and Euro until March due to technical issues.
Geeze that's pretty inconvenient and sounds a bit dodgy too. Hmm :?
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Re: The Russian Central Bank obliterates the Russian broker industry before the holidays

#6
Jimmy wrote:
Tue Jan 22, 2019 1:26 am
mlawson71 wrote:
Tue Jan 22, 2019 1:19 am
There seem to be some problems with Alpari, even in its non-Russian branches, because the company announced that it will not be able to process payments with VISA cards in US dollars and Euro until March due to technical issues.
Geeze that's pretty inconvenient and sounds a bit dodgy too. Hmm :?
I know, right?
My first thought was whether it was technical issues or it was "technical issues" considering recent developments. :D

Re: The Russian Central Bank obliterates the Russian broker industry before the holidays

#7
Jimmy wrote:
Tue Jan 22, 2019 1:26 am
Geeze that's pretty inconvenient and sounds a bit dodgy too. Hmm :?
Alpari UK still has problems with the SNB bomb and manipulates the courses significantly. One and the same EA on two different accounts with Alpari UK and one account goes bankrupt and the other one has profits. That was 2018 before the ESMA restriction took place. Now the problems for Alpari UK will be even bigger. I guess, Alpari Russia is the same in dark-stained.


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