Broker IQ announced that from July 1, 2016, it stops accepting traders from Russia.
When you log in to the company’s website, a message appears
At the moment, registration with IQ Option
from the territory of the Russian Federation is closed.
If you think you’re seeing this message in error, please contact support at [email protected].
The reason, apparently, is licenses and regulations in the Russian Federation. According to rumors, the IQ broker does not want to take risks, and is moving its activities to Europe.
It is important to note that IQ has risen to the top positions of the binary options rating in a fairly short time. Traders rightfully appreciated the technological level of the platform and the trading conditions.
“Ban on advertising our services in the Russian Federation”
The company in the field of BO sent a message to its partners under the heading “
Ban on advertising our services in the Russian Federation” with the
following content:
“In connection with the upcoming legal changes in the Russian Federation, we announce the imminent suspension of advertising activities in Russia. At the moment, the operation of the IQ Option broker in Russia is not prohibited. However, since the term “binary options” is not clearly defined in the legislation of the Russian Federation, you may have the risk of imposing a fine on you for advertising our services by the state authorities of Russia, as advertising forex services without a license.
From June 1 to June 30, 2016, you have time to switch your advertising campaigns and transfer your RF traffic to other Internet resources. And from July 1, 2016, we prohibit any advertising of our company on the territory of the Russian Federation and for Internet users with Russian IP addresses, including advertising on forums, social networks, youtube, search engines, websites, our landing pages, etc. From July 1, 2016, an automatic redirect will be enabled for all your Russian traffic.
The profit from all your Russian clients registered before July 1, 2016 will continue to go to your balance sheet, while the company reserves the right to refuse to serve customers from the Russian Federation in the event of amendments to the legislation. We recommend that you pay attention to the top countries: Great Britain, Italy, Germany, France, Switzerland, Sweden, the Netherlands, Austria, Spain, the United Arab Emirates, Brazil. At the same time, we will be happy to continue cooperation with you outside the territory of Russia and the Russian-language Internet.
IQ Option’s policy implies full compliance with the laws of the countries in which we operate, and the uncertain legal field of the Russian Federation in this area exposes our partners and us to risks.
Derivative or casino?
According to the information available to the editors of Forex Magnates, IQ Option Europe Ltd. officially appealed to the Bank of Russia for clarification on the terminology and categorization of binary options against the background of the entry into force of the Law “On Forex” in the Russian Federation. But in March of this year, she received an ambiguous answer. Having considered the appeal, the Department of Securities and Commodity Market replied that at present the concept of a binary option is not enshrined in Russian legislation. But if the BO provides for conditions and obligations that meet the definition of a derivative financial instrument (the Law on the Securities Market and the Law on Types of Derivatives), such an agreement qualifies as a derivative. And if it is not, then it fits the norms of the Law on State Regulation of Activities for the Organization and Conduct of Gambling, which regulates the organization and conduct of gambling in the territory of the Russian Federation and restrictions on the implementation of this activity in order to protect morality, rights and legitimate interests of citizens.
“At the moment, we have not applied for licensing”
The editors of Forex Magnates Russia turned to the representatives of the broker IQ Option for a comment and received the following response: “At the moment, the term binary option is not defined in Russian legislation. Our company does not have an unambiguous understanding of whether the activities of binary options brokers are the activities of a forex dealer and whether it is possible to obtain a license from the Bank of Russia for it. At the same time, it should be borne in mind that the process of obtaining a license is not simple: you need to find employees with the appropriate certificates, put the processes in the company in accordance with the requirements of the Bank of Russia, and, finally, invest heavily in a Russian company in the amount of at least 100 million. Rubles. At the same time, the processes for binary options brokers are not regulated by the internal documents of the Bank of Russia, which is likely to make it difficult to obtain a license for this activity. In other words, it is possible to understand whether this activity is licensed in Russia only by applying for a license to the regulator and having previously invested in a Russian company. This creates significant risks in case of refusal to obtain a license. It is for this reason that at the moment we have not applied for licensing.
Source ru.forexmagnates.com
Tagged with: Brokers • IQoption • Regulation
