There has been an increasing trend in the retail trading market of late where many major brokers are migrating away from Europe. The European Securities and Markets Authority – a regulatory body which governs financial firms and practices across all 27 nations of Europe has lately been putting pressure on the market in the form of new regulatory measures. With increasing pressure from regulatory body restricting various business practices and decreasing focus and participation towards forex markets from clients, major broker houses are looking at markets outside of Europe to establish and expand their business. While a few view this move as a desperate bid of survival measure taken by the firms to pursue new avenues of growth, it is a welcoming opportunity for the global market as it gives traders in other markets more opportunities, features, facilities, and options to work with.
One of the major markets to which most brokers are currently moving is the Republic of Belarus. Retail Brokerage firm RoboForex group has received a regulatory license from the National Bank of the Republic of Belarus. RoboForex group currently provides Forex trading services under two brand labels namely RoboForex and RoboMarkets. RoboForex is licensed in Belize while RoboMarkets has been granted a regulatory license in Cyprus. According to a statement released by the brokerage house, it has been agreed by both brands post clear discussions that RoboForex label will be used for the launch of their new operations in the Belorussian market. The broker house stated that their decision to expand to Belarus was in part due to existing popularity for their products in Belarus and Commonwealth of Independent States which is made up of 10 post-Soviet republics in Eurasia region.
When speaking about their move to establish operations in Belarus, Andrei Dziarnovich, CEO of RoboForex BY stated that receiving the license of the National Bank of Republic of Belarus is a very important step in their plans for expansion in CIS countries, and he also stated that their key priority is “To lead the industry whilst providing quality services on global financial markets, attractive trading conditions, and relatable protection of our client’s interests”. This new Belarus brand is expected to offer trading services via MT4 platform for both Forex and a mix of CFD assets. Aside from RoboForex, Capital.com is another major broker who has received a regulatory license from the National Bank of Belarus over the course of last month. Aside from these two firms, Equiti Group which is registered in Jordon and UK has also decided to expand their business operations outside of EU region and has established an office and obtained a license to operate in Kenya. Recent headlines suggest that South Africa is another location where major Forex service providers are looking to expand their businesses and obtain regulatory license to expand their revenue venues.
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