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Russia Forex Regulatory News Russia Forex Regulation News Russia Forex Regulatory News


View below the latest forex regulation news from the Russian regulatory agencies, including the Central Bank of Russia (CBR), KROUFR, and the National Association of Forex Brokers (NAFD).

Russia gets Closer to Blocking Foreign Forex Brokers' Websites

14 Jul 2017, Moscow, Russia - FinanceFeeds News - Consultation opens on a new bill that aims to outlaw websites of financial services companies that illegally target Russian clients. As FinanceFeeds has earlier reported, the Russian regulators are slowly moving towards tackling the activities of financial services companies, including Forex brokers that target Russian clients without having the necessary regulatory permission. On Thursday, an . . .


Bank of Russia Issues Instructions on Forex Brokers' Reporting

26 Jun 2017, Moscow, Russia - FinanceFeeds News - The document sheds lights on the necessary reports about annual shareholder meetings, provision of information about founders and directors, as well as revealing general details about a company. It has been more than two years since Russia's president Vladimir Putin signed the Forex law and, ever since, the volume of additional requirements and instructions concerning Forex companies has been rising.


Russian Central Bank Shuts Down TeleTrade Russia Website

22 Jun 2017, Moscow, Russia - Finance Magnates - The Russian mega-regulator abruptly shut down the broker's website without any warnings. Just a couple of weeks after the official start of the regulated retail forex market in Russia, the Bank of Russia is flexing its muscles. Finance Magnates can confirm that the mega-regulator has exercised an unprecedented amount of power and closed down one of the websites of TeleTrade. TeleTrade. ru was shut . . .


Bank of Russia will Block Overseas Unregulated Forex Websites

19 Jun 2017, Moscow, Russia - AtoZ Forex - Bank of Russia will block overseas unregulated Forex websites, according to the Deputy Head of the General Directorate of Security at CRB, Artem Sychev. This step follows the Russian Federal Anti-monopoly Service initiative to crack down on Unregulated Brokers in Russia. The Bank of Russia (CRB) is planning another significant step in relation to the Forex brokers from overseas. Meanwhile, a number of . . .


VTB24 Forex and Finam Forex Launch Official Regulated Operations in Russia

16 May 2017, Russia - SMN Weekly - Several weeks after the first stage of Russia's forex market standards and regulations came into effect, the first two of the eight regulated brokers VTB24 Forex and Finam Forex announced official launch of operations. Finam Forex was the first local forex broker to obtain a license from the Bank of Russia, back in December 2015. It is part of the Finam Holding. According to Finam's statement, the first trade . . .


Russia Prepares Steps to Forbid Unregulated Brokers from Operating

10 May 2017, Moscow, Russia - Finance Magnates - The Federal Anti-monopoly Service says that brokers that wish to operate in Russia will have to be regulated. The Federal Anti-monopoly 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 take control . . .


Bank of Russia Finally Enacts Basic Forex Market Standards

2 May 2017, Moscow, Russia - SMN Weekly - On May 2, Russia's financial megaregulator, the Bank of Russia, has finally enacted the first of the basic standards for forex dealers operating on the financial markets. This means the forex brokers who have a license from the Bank of Russia and are members of the only approved self-regulatory organization the Association of Forex Dealers (AFD) can openly operate and advertise their activities in earnest.


Russian Government Official Highlights Risks Associated with Forex Brokers

21 Apr 2017, Moscow, Russia - FinanceFeeds News - Russia has seen a declining activity of financial pyramids but FX brokers still provide clients with instruments carrying high risks of losses. Although Russia has had its Forex law since the end of 2014, the nation still has a long way to go in terms of implementation of the law provisions and actually seeing a transparent, efficient and fully-working Forex industry. The reputation of the Forex . . .


InstaForex Obtains Russian Forex Broker License

9 Mar 2017, Moscow, Russia - SMN Weekly - Kaliningrad-based brokerage Fix Trade, which is the company behind the InstaForex brand, has received a forex dealer license from the Central Bank of Russia (CBR), according to data published on the regulator's website on Thursday. The license was granted on 9 March at a regular CBR meeting. The regulator provided no details. Fix Trade was initially denied Russian license in July 2016. At the time, the . . .


Bank of Russia Mulls Requirements for Websites of Overseas FX Brokers

17 Feb 2017, Moscow, Russia - FinanceFeeds News - As the novel FX law seems not to affect the activity of overseas FX brokers, the Bank of Russia considers requirements towards their Russian websites. The Russian Forex sector got officially regulated in December 2014, when president Vladimir Putin signed the profile law. The law obliges Forex companies that are willing to provide their services to Russian clients to establish a business in Russia . . .


Bank of Russia Tightens Requirements for SROs on Financial Markets

5 Dec 2016, Moscow, Russia - SMN Weekly - The Central Bank of Russia (CBR) has introduced new regulations concerning self-regulatory organizations (SROs) in Russia. It will introduce mandatory reports that SROs need to file and will set committees that will review standards established by SROs, the regulator said last week in separate statements published on its website.


Alpari becomes a Licensed Forex Dealer in Russia

28 Nov 2016, Moscow, Russia - Alpari News/Press Release - The central bank of the Russian Federation finalised its decision to issue Alpari Forex Ltd. with a license granting the company the right to conduct its activities as a Forex dealer throughout Russia1. As such, Alpari is now an officially licensed Forex dealer on the Russian market. The total capital held by Alpari Forex Ltd. exceeds 100 million Russian roubles. From the moment it . . .


Forex Club Joins AFD

21 Nov 2016, Russia - SMN Weekly - Forex Club, one of the leading forex brokers in Russia that only recently obtained its forex brokerage license from the Bank of Russia, on second try, has joined the local self-regulation organization (SRO) Association of forex dealers (AFD). An SRO membership is one of the legal requirements for forex brokers operating in Russia. AFD was established earlier this year and is currently the only forex broker . . .


Russian Watchdog KROUFR Adds Forex Broker Trade12 to Warning List

26 Oct 2016, Russia - Finance Magnates - Trade12 is the latest forex broker to be added to the regulator's blacklist for withdrawal-related issues. KROUFR, the Russian self-regulatory organisation which seeks to regulate relationships between clients and retail brokerages, has added another forex broker to its warning list. KROUFR, which recently added Northern-Cyprus based TouchTrades to its ever-growing list, today included Trade12 which . . .


VTB24 Forex Becomes Member of Russia's Association of Forex Dealers

25 Oct 2016, Russia - SMN Weekly - About two months after it obtained a forex dealer license from Russia's central bank, the forex broker VTB24 Forex became a member of the local self-regulation organization (SRO) Association of forex dealers (AFD). With the admission of VTB24 Forex, AFD has four licensed members, along with Finam Forex, TrustTrade and TeleTrade. AFD is also the only forex broker association in Russia that has accreditation from . . .


Russia's KROUFR Blacklists Forex Broker StoxMarket due to Numerous Client Complaints

24 Oct 2016, Russia - SMN Weekly - Russia's commission for the regulation of relations on financial markets KROUFR has expanded its blacklist to 28 entities with the addition of forex broker StoxMarket, the commission said over the weekend in a notice published on its website. The regulator has received a number of complaints from existing customers of the broker over the past years. Claims mainly concern the fact that the broker's technical . . .


Russia's KROUFR Says 80% of Sept Claims against Forex and Binary Option Brokers Related to Fund Withdrawal

20 Oct 2016, Russia - SMN Weekly - Russia's arbritary commission for the regulation of relations on financial markets KROUFR said on Wednesday it received in September 18 trader complaints against forex and binary options brokers, of which two concerned KROUFR members. Three of the claimes against non-members were resolved in favor of the client. Full 80% of the received claims were associated with the withdrawal of funds. The rest of the . . .


Forex Club gets Forex Broker License in Russia on Second Try

13 Oct 2016, Moscow, Russia - SMN Weekly - The Central Bank of Russia (CBR) said on Wednesday it has provided a forex broker license to Forex Club, one of the leading market participants. The regulator provided no details. The CBR earlier this year denied a license to the broker without explaining why and whether it failed to meet any criteria. Forex Club initially applied for a forex broker license in Russia in December 2015. Although the CBR . . .


Central Bank of Russia Accredits SRO Association of Forex Dealers

13 Oct 2016, Moscow, Russia - SMN Weekly - The Association of Forex Dealers (AFD), a Russian self-regulatory organization (SRO), has been entered into the SRO register of the Central Bank of Russia (CBR), according to data published on Wednesday by the central bank. The AFD applied for registration in May this year, just a couple of months after the CBR established the register. The regulator said at the time that organizations that have been . . .


Russia's KROUFR to Blacklist Trade12, TurboForex and Others

3 Oct 2016, Russia - SMN Weekly - Russia's commission for the regulation of relations on financial markets KROUFR issued over the weekend another statement with listed forex and binary option brokers that are potential candidates for entering its black list of companies that could harm investors. The commission intends to blacklist the following entities: Binary Slot, SevenWays, TouchTrades, Forman Solutions S. A. - PRO-FOREX, G. E. B. Global . . .


KROUFR Plans to Blacklist Forex Brokers TurboForex and Trade 12 over Fund Withdrawal Issues

15 Sep 2016, Russia - SMN Weekly - Russia's commission for the regulation of relations on financial markets KROUFR is preparing to blacklist seven forex and binary options brokers operating on the Russian market, for hindering clients from withdrawing their funds. According to the August report of KROUFR, the total number of complaints against forex and binaries brokers was 17. Of them 13 were for the aforementioned problems. Two of the violators . . .


24FX and 24option Denied Russian Forex License by the Bank of Russia

2 Sep 2016, Moscow, Russia - LeapRate - LeapRate has learned that Retail Forex and Binary Options brokerage group Rodeler Limited has been rejected for a professional securities market participant license by the Bank of Russia. The license, had it been granted, would have allowed Rodeler to operate a retail forex dealer in Russian, serving Russian clients. Rodeler Limited, based in Cyprus and operated out of Israel, owns and operates the 24option . . .


VTB 24 Forex becomes Fourth Broker to Receive a Bank of Russia Forex License

2 Sep 2016, Moscow, Russia - LeapRate - Russian banking giant VTB Group has become the fourth company to receive a license from the Bank of Russia to operate a retail forex brokerage serving Russian traders. The Bank of Russia has announced that it has issued a professional securities market participant license to VTB subsidiary VTB 24 Forex, effective September 1. VTB is the second largest bank in Russia, after Sberbank. We had reported back in . . .


Alpari Reapplies for Russian Forex License

8 Aug 2016, Moscow, Russia - SMN Weekly - Alpari, the largest broker in Russia in 2015, has reapplied for a forex license from the Bank of Russia, which serves as a financial regulator and issues the licenses, reports the site Russian Magnates. We remind you that in June Russia's c-bank denied a license to Alpari and the second-largest forex broker ForexClub. Back then Alpari said it will take into consideration the remarks of the Bank of Russia . . .


InstaForex Awaits Clarification on Denied Russian Forex License, will Reapply

27 Jul 2016, Moscow, Russia - SMN Weekly - InstaForex, a forex broker operating in Central and Eastern Europe and Asia, announced it is expecting further clarification from the Bank of Russia regarding its decision to deny the broker's application for a Russian forex license. The statement comes after Russia's central bank posted a brief piece on its website, informing that it has decided to deny a license for a forex broker and professional . . .


Bank of Russia Denies License to InstaForex

22 Jul 2016, Moscow, Russia - SMN Weekly - Russia's financial regulator, the Bank of Russia, announced it has decided to deny a license for a forex broker and professional participant on the securities market to the forex broker InstaForex, which is a brand of Fix Trade, registered in Russia in the city of Kaliningrad. The c-bank does not give any further details about its decision, but the statistics shows that this is the fifth refusal in less . . .



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More Forex Regulation News

Russia's CRFIN, now NAFD, Admits VTB24 Forex

18 Jul 2016, Russia - SMN Weekly - Russia's self-regulatory organization (SRO) for over-the-counter (OTC) financial instruments CRFIN has announced it has admitted as a member the VTB24 Forex a forex brokering subsidiary of the country's VBT24 Bank. As SMN already reported, VTB24 Forex was set up this spring and has already applied for a forex broker license from Russia's c-bank. In the same announcement the SRO informed it has changed its name . . .


Russia's Self Regulatory Association CRFIN Rebrands as NAFD

18 Jul 2016, Russia - LeapRate - The CRFIN has announced its new association name, the National Association of Forex dealers (NAFD), during the General Meeting of the Association Members held on Friday. The association has also shared that Andrei Yurevich Lisitsyn will be the head of NAFD. The General Meeting of the Association has also decided to form a NAFD Board of Directors.


Russia's KROUFR Blacklists Forex Broker KSF Trade

11 Jul 2016, Russia - SMN Weekly - Russia's commission for the regulation of relations on financial markets KROUFR added on Friday forex broker KSF Trade after receiving complaints against the entity, the commission said in a notice. As a result, the KROUFR's black list has grown to include 26 forex and binary option companies. The commission has received several complaints from KSF Trade clients who said they were unable to withdraw their funds . . .


China Securities Regulatory Commission Signs MoU with the Bank of Russia

28 Jun 2016, Moscow, Russia - LeapRate - It was just officially announced that on June 25, 2016, Mr. Liu Shiyu, Chairman of China Securities Regulatory Commission (CSRC) and Mr. Sergey Shvetsov, First Deputy Governor of the Bank of Russia signed a Memorandum of Understanding (MOU) regarding cooperation on financial and capital markets in Beijing. This MOU substitutes the MOU between China Securities Regulatory Commission and the now dissolved . . .


KROUFR Adds YouTradeFX to Black List

23 Jun 2016, Russia - SMN Weekly - Russia's KROUFR, the self-regulatory organization (SRO) of the forex brokers operating in the country has added the YouTradeFX forex broker to its blacklist. According to the publication on the SRO's website, it has many facts about dishonest activities of the forex broker. Furthermore, it claims to have a license ? C110008678 FSC Mauritius from the Financial Services Commission of island of Mauritius. This, . . .


Russia Mulls Setting Leverage Cap of 50:1 for Retail Forex Traders

13 Jun 2016, Moscow, Russia - SMN Weekly - Russia is working on regulatory amendments, under which the maximum leverage for retail forex clients would be limited to 50:1, according to a notice published on Friday by Russian self-regulatory organization (SRO) for over-the-counter (OTC) financial instruments CRFIN. The change aims to protect inexperienced investors by limiting losses caused by the use of leverage and to increase the lifespan of . . .


Bank of Russia Denies Forex Broker Licenses to Alpari and Forex Club

3 Jun 2016, Moscow, Russia - SMN Weekly - Russia's financial megaregulator, the Bank of Russia has denied forex broker license to the two largest forex brokers in terms of trading volume in 2015 in the country Alpari and ForexClub. In two separate official statements with identical wording on its site, dated June 2, the central bank said it has decided to deny license for professional participant in the stock market and activities as forex dealer . . .


Newly Licensed TeleTrade Group Joins Russian SRO AFD as Member

25 May 2016, Russia - SMN Weekly - Russian forex brokerage TeleTrade Group was accepted on Tuesday as a member of the Association of Forex Dealers (AFD), a self-regulatory organization (SRO), the broker said on Tuesday. The broker received earlier this month a forex broker license from the Central Bank of Russia (CBR), becoming one of three entities to obtain such a license. Under the laws, licensees are required to join a SRO in their industry . . .


Teletrade Becomes Second Broker to Obtain Russian Forex Broker License

13 May 2016, Moscow, Russia - SMN Weekly - Forex brokerage TeleTrade Group said on Thursday it has received a license to operate as a forex broker from the Central Bank of Russia (CBR). This is the second Russian forex broker license after in December 2015 Finam Forex, part of Finam Group, became the first one to obtain such a license. Since 1 January this year, Russia-based forex brokers are not allowed to target local citizens, unless they have . . .


Russia's CBR Grants Forex Broker License to TrustForex, Rufuses to License Profit Broker

13 May 2016, Moscow, Russia - SMN Weekly - The Central Bank of Russia (CBR) has granted forex broker license to TrustForex, while refusing license to Profit Broker, according to data published on the bank's website. Meanwhile, TeleTrade Group announced it has also obtained a Russian forex broker license. The decisions were voted on 12 May, 2016. The CBR did not explain why it has decided to refuse license to Profit Broker. So far, Finam Forex was . . .


Russia SRO CRFIN Blakclists KSF Trade, EU Broker Age

12 May 2016, Moscow, Russia - SMN Weekly - Russian self-regulatory organization (SRO) for over-the-counter (OTC) financial instruments CRFIN said on Wednesday it has included two more forex brokers to its black list EU Broker Age and KSF Trade. The two entities falsely present themselves. Although EU Brokerage provides no information on its website regarding authorization, when contacted by potential customers and asked for information the broker . . .


The FBS Russia Website is Unreachable, Broker will Apply for Russian License

12 Apr 2016, Moscow, Russia - SMN Weekly - The Russian website of the offshore forex broker FBS, www.fbs. ru, has been unreachable for a while and, according to reports of the Russian-language website Forex Magnates, the broker has suspended its activities in the country without prior notice and has asked its clients to close their positions and withdraw their funds. At the same time, the Russian-language version of the broker's main website, . . .


CRFIN Applies for SRO Status from Bank of Russia

15 Mar 2016, Moscow, Russia - AtoZ Forex - CRFIN applies for SRO status, as the implementation of the Russian Forex law gains ground. The Regulatory Center of OTC financial instruments and technologies (TSRFIN) has now sent a draft internal standards to the Bank of Russia.