Roboforex Joins Belarus ARFIN to Consolidate Eastern Expansion

Ricardo Esteves

Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.

RoboForex

Roboforex Joins Belarus ARFIN to Consolidate Eastern Expansion

May 30, 2019

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.

roboforex

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.

The company has recently announced that clients may deposit funds into their BTC accounts by the means of other currencies, with the sum deposited in alternate cryptocurrency being automatically converted at the real-time according to the prevailing exchange at the time of depositing. RoboForex will be allowing deposit cryptocurrencies in BTC accounts with 40 different cryptocurrencies including the most popular ones: Ethereum, Bitcoin Cash, Dash, NEO, LiteCoin and others. Bucking the trend, the broker announced leverage of up to 1:50 for clients involved in cryptocurrency trading. This launch comes amidst when the whole fx industry across the European Union is grappling with reduced leverage on the account of the new regulatory crackdown.

Login To MyTis Comment Or Register to MyTIS

Leave a Reply

avatar
  Subscribe  
Notify of

Newsletter

Register now to receive the latest news and information for global trading industry.

Latest Articles

Canadian Securities Regulators Sign Fintech Co-operation Agreement With the Monetary Authority of Singapore

Montreal and Singapore – Members of the Canadian Securities Administrators (CSA) have signed a fintech co-operation agreement with the Monetary Authority of Singapore (MAS). The members are the securities regulatory authorities …