RoboForex BY, the Belarus-based retail FX broker that is affiliated with Belize-regulated broker RoboForex, has joined the Financial Market Development Association (ARFIN), which requires the brokerage firm to comply with the Rules of Market and Professional Conduct, including principles of transparency and fair practice.
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. The move is also a reaction to ESMA’s recent restrictions on leverage.
The Financial Market Development Association is a non-commercial union of organizations based in the Republic of Belarus founded in 2013 in order to unite companies that operate on the OTC Forex market.
The Belarus affiliate has received a license of the National Bank of the Republic of Belarus in April 2019, which grants the firm an authorization to offer Cent, Standard, ECN, and Affiliate account services to residents of Belarus and other countries. The trading offering includes access to 97 Forex trading instruments, Metals, Commodities, Indices, and CFDs on stocks, which will be available through the most popular trading terminal in the world, MetaTrader 4.Andrei Dziarnovich, Chief Executive Officer at RoboForex BY, commented: “A month ago, we received the license of the National Bank of the Republic of Belarus. Now, we’re joining ARFIN, the association, which protects interests of clients and expands civilized trading on the Forex market in the first place. All these steps are driven by our intentions to provide quality and competitive services on global financial markets.”
The parent company, RoboForex Ltd, has been providing its services since 2009 and holds brokerage license IFSC/60/271/TS from financial authorities in Belize.