Russian forex broker

Russian Forex Brokers.

Those of you looking to trade Forex in Russia will be interested in all the relevant and up-to-date information available in order to gain a thorough understanding of the market, and thereby increasing your chances of success.

A brief history of Forex trading in Russia.

When Forex trading first started in Russia there were only a handful of traders taking part. But ever since 1990, Russian interest in the Forex market has expanded considerably. Nowadays there are thousands of traders and quite a number of Forex brokers. A number of the most successful Forex brokers in Russia have grown to encompass the global Forex market, but there is still room for more development in the domestic Russian market.

The Russian economy has been developing in recent years, together with its participation in the global economy. The Russian government decided to introduce the convertibility of the ruble because it wanted to help the country’s transition into a true market economy. However, it has since changed from multiple exchange rates, to managed floating rates to soft peg. An important currency for exchange in Russia is the US dollar. But the Russian Ruble hasn’t been forgotten, as it is an important hard currency because of the changes taking place in the Forex market in Russia. These changes included price liberalizations, in 1992. Holding hard currency reserves is allowed in Russia, and many Russian citizens choose to convert their rubles into dollars and vice versa. Thereby benefiting from exchange rate fluctuations.

Earlier on in history, foreign exchange was only possible through public auctions. But in 1989, when Russian authorities decided to introduce flexibility in exchange rates, things started to change. The first currency exchange was set up in 1991, by the Central Bank of Russia . It was named the Moscow Interbank Currency Exchange (MICEX) in 1992, and has been the body through which foreign currency trading is carried out ever since then. Essentially, however, the Forex market is regulated, moderated, and controlled by the Central Bank of Russia. It has the power to issue special foreign exchange licenses to commercial banking institutions, so is essentially in control of the internal foreign exchange turnover being generated.

Recommended Forex Brokers for Russian Traders.

Recommended Forex Brokers for Russian Traders.

How Forex brokers in Russia are regulated.

Regulation of the Forex industry is of vital importance, as well as regulation of all other financial products being offered to investors. This is because it creates a safe environment for investors to trade within and gives guarantees that those offering such products won’t shut down in the middle of the night and run away with all the cash.

The local financial activities regulator in Russia, is the Federal Financial Markets Service (FFMS), and was responsible for drafting regulations for Russian Forex brokers offering Forex investments. The regulations were drafted in 2008, and are just now coming into force.

Companies now wanting to offer their services with regards Forex trading, have to obtain a Forex dealer license, if they wish to operate in Russia or target Russian citizens The regulations include strict rules for the marketing of their services and rather demanding provisions in relation to client funds protection. The law has also recently introduced restriction on the maximum permissible leverage. Rather unpopularly, they set it as 50:1. Those Forex brokers in Russia wishing to operate had until January 2016 to obtain a licence, and the first Russian Forex brokers to be granted one have now been announced.

There is another regulatory body that functions as a regulatory body, CRFIN, but is more of a self-regulating body.

Wherever you reside there are a number of important considerations to bear in mind when choosing the best Forex broker. It’s not that difficult a decision to make, providing you bear a few things in mind. But should you just pick one randomly out of the hat, you could stand to make some sizeable losses. Picking the right broker is an important part of Forex trading.

A 3 step guide to picking the best Forex broker.

Follow these 3 simple steps and you’ll be able to narrow down your choices, before getting in touch with a few different brokers.

Step one – Do your research – There are a few things you should be looking out for when choosing the best Forex brokers in Russia. Are they registered with any regulatory bodies. It is quick and easy to undertake an online search with the different regulatory bodies. Think very carefully before choosing one that isn’t registered or licensed. Find out whether the broker has a dealing desk. Are fixed or non-fixed spreads offered. How much leverage is allowed? If it is more than 50:1 then it’s not going to be a broker that is registered with the Russian regulatory body. Step two – Make comparisons – There are a number of sites who will do this for you, or take the old fashioned route and use a pen and paper, and make a list of your own. Step three – Open a demo account - Find a couple of brokers you like the look of and open up a demo account. Try trading in different market environments and learn the features of the different trading platform. And don’t be afraid to ask questions. This will also be a great opportunity to check out the level of customer service.

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Best Forex Broker Russia 2017.

Russian forex market has emerged in the early 1990s as a consequence of the economy liberalization in the country. Since then has grown significantly, bringing with it a wide range of market participants onto the stage. Interestingly, at that only a few forex brokers have gained crucial positions on the Russian market.

Some of Russian forex companies have local origin, and along with this there are many globally-recognized forex brands on the Russian forex market as well.

Same as it is with other countries, in Russia new traders prefer to entrust their money to a broker having a headquarter or a local office in Moscow or other major Russian city, that is, within factual reach, and with a benefit of receiving fx services in their native language. The rise of popularity of forex trading in Russia has been to a large extent determined by the fact that in large Russian cities forex companies arrange forex courses and seminars, at times absolutely free.

The activities of forex brokers in Russia are specifically regulated. New brokers entering the Russian currency exchange market have to obtain a forex dealer license. This is obligatory for brokers either working in Russia or with the Russian citizens. The rules of regulation include provisions for the protection of the clients’ funds and for marketing of the offered forex services.

Choosing the best forex broker in Russia is not easy without deep knowledge of the local market. In general sense, optimal are stable companies with decent background and years of operational work on the Russian market.

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The usage of this website constitutes acceptance of the following legal information.

Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including graphical information about the forex companies, brokers and others, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Awards shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.

Asia: Russian Federation.

Below is a list of online forex brokers which are incorporated or registered in the Russian Federation. Click on the links in the left column menu for forex brokers in other countries.

(1) The icon designates multiple languages. Clicking on the icon will show or hide the additional languages available. Clicking on the broker name before the language will bring you to their site in that language.

(2) When possible, clicking on the Regulatory Authority will direct you to the regulatory authority's site on either the page for that broker, a list of brokers licensed by that authority, or to a page where you can do a licensed entities search.

Forex Brokers in the Russian Federation.

Russia (CBR) Regulation News.

12 Sep 2017, Moscow, Russia - FinanceFeeds News - Many of the websites are run by companies offering financial services to Russian clients, without having the necessary licenses from the Bank of Russia. The Bank of Russia has . . .

6 Sep 2017, Moscow, Russia - FinanceFeeds News - The Ministry of Economic Development has issued a positive assessment of the bill that allows the Central Bank of Russia to make decisions as to the blocking of websites of . . .

29 Aug 2017, Moscow, Russia - FinanceFeeds News - The advertisement included text like "Forex online" and "binary options", whereas the company behind the advertised services lacked the necessary license from Russia's central bank.

21 Aug 2017, Moscow, Russia - FinanceFeeds News - The Chamber of Commerce and Industry recommends that the Bank of Russia takes into account websites misleading not only the clients of a given business but also of all . . .

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 . . .

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 . . .

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 . . .

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 . . .

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 . . .

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 . . .

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 . . .

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 . . .

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 . . .

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 . . .

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 . . .

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 . . .

7 Jun 2017, Moscow, Russia - LeapRate - The Russian licensed Forex dealer VTB24 Forex announced that now offers traders to perform trading operations via MetaTrader 5. VTB24 Forex LLC is a subsidiary of VTB24 rendering . . .

2 Feb 2017, Limassol, Cyprus - MetaQuotes - The migration of brokers to MetaTrader 5 is underway. A number of notable market participants, including BCS Forex, InstaForex and LiteForex, have recently announced the launch . . .

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Forex Brokers In Russia.

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Disclaimer There can be a high degree of risk in trading foreign exchange and for this reason alone, some investors may decide that it is not suitable for them. There is a considerable degree of leverage involved which, while it can work in your favor, can also work against you. You should take careful note of your level of experience, your purpose for investing, and how much risk you are prepared to accept. It is always possible that you could lose a part, or even all, or your initial investment, and it follows that you should never invest any money that you cannot afford to lose. This applies to any form of investment. There are certain risks associated with foreign exchange trading, and if you have any doubts whatsoever, you should take advice from an independent financial advisor.

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