On January 1, Russia finally decided to officially host Forex by issuing a law on Forex.
Does this mean that now in Russia you can make money on Forex, legally and without worrying about your investments? And to what extent did the adoption of the law increase the attractiveness of the Russian market for traders?
In fact, everything is not as rosy as we would like. In fact, licenses are issued, but so far only one broker has received such a license from the Bank of Russia. Why? Yes, simply because the rest do not meet the requirements necessary to obtain a Forex dealer license.
The law actually came into force in October 2015, the registration of brokers was open, but in practice no one is ready for this. Therefore, it was decided to extend the registration for another year.
During the year, applicants were asked to finalize the necessary nuances in order to obtain licenses for financial transactions. But this never happened, so I had to open Russian Forex with what we had – one broker.
And although this topic was actively and very optimistically discussed in the press, not everything is as rosy as it seems. Only one license has been issued, and it’s good that at least so, otherwise the situation would look completely comical – regulation without regulated ones. It is hoped that brokers will register, but not as soon as originally thought.
