Nefteprombank Official Website Forex
- Posted in:Admin
- 01.12.18
- 16
Although Russia has had its Forex law since the end of 2014, the nation still has a long way to go in terms of implementation of the law provisions and actually seeing a transparent, efficient and fully-working Forex industry. The reputation of the Forex sector in Russia is currently undermined by the activities of that present themselves as FX firms. And although the activities of Forex pyramids have subsided over the past year, the Forex industry continues to spark regulatory concerns. These concerns were reiterated by Russia’s Deputy Finance Minister Alexey Moiseev, who, in an with Russian daily newspaper “Rossiyskaya Gazeta”, noted the risks associated with Forex companies. Mr Moiseev said that the financial pyramids had become more scarce, whereas there are entities, which formally are not pyramids and theoretically can provide high returns given their business activities.
The case, which targets Yandex and Nefteprombank, concerns Forex advertisements on Yandex.Direct. According to the Russian Forex law, which was signed by Vladimir Putin at the end of 2014, only companies with Forex dealer licenses issued by the Central Bank of Russia are allowed to advertise Forex services to Russian clientele. Nefteprombank is a Russian broker which managed to become one of the most reliable online trading services providers. The bank has been rendering online services since 1996 being the oldest Russian Forex broker with its own sustainable development strategies. The website of the company offers a variety of trading services, with an apparent focus on binary options. According to the Russian Association of Forex-dealers, which filed the complaint over the illegal advertising, there is a violation of the law, as the website of the entity in question has a Russian version and obviously targets Russian.
Binary options brokers actually make money through a variety of ways. However, the precise method is dependent on the business model of the broker. One way of making money is through the pricing of the binary options. Another way is through the trading activities of traders. Pricing Of the Binary Options. Binary options broker normally obtain their pricing structures from their liquidity providers. 
Nefteprombank Official Website Forex Free
However, he adds, these entities carry high risks. Mr Moiseev says Forex brokers are such entities. He stopped short of identifying them as pyramids, but stressed that they provide their clients with instruments with gigantic risks – in most cases, a client loses money. A big problem for Russia in this respect are overseas FX companies targeting Russian residents. We may refer to data from the Bank of Russia, showing that the regulator received 210 client complaints against Forex companies registered overseas in 2016. This is slightly down from the 236 complaints received in 2015.
Nefteprombank Official Website Forex Online
To tackle this type of fraud, the Bank of Russia is considering a for the websites of such overseas entities that seek to lure Russian clients. The Bank of Russia has thus far issued Forex dealer licenses to eight companies – a humble number. The latest company to get such a regulatory permission is. The relatively small number of licensees can be attributed to a certain extent to the bureaucracy accompanying the Russian Forex law. For instance, the licensed FX brokers (formally known as Forex dealers) are still not allowed to officially commence operations in Russia, as they await a document on the standards for the industry. This document, however, has yet to be published. That is why the regulated FX industry in Russia has somewhat frozen.
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