74% of surveyed traders believe Russian retail Forex brokers should be state regulated

Russian self regulatory organization TSRFIN conducted a research survey titled “Traders on the future of forex in Russia after the introduction of regulation.”

Some findings from the survery of importance are below:

The survey involved more than 1,000 people.

– 74% of surveyed traders believe that state regulation is necessary for Russian retail segment of the forex market.

– 6% of respondents want the preservation of the existing rules.

– 23% of respondents believe that the introduction of regulation will lead to reduced quality forex services, while more than half of respondents (55%) expect that the quality forex services to improve. with state regulation.

– 62 % of respondents wanted additional control over the quality of services provided by
professional community by industry self-regulatory organization

– 89 % favored the creation of new regs based on current industry SROs operational mechanisms

– 63% of respondents would like to forex firms to have the status of tax agents for their clients , while
37 % prefer to pay taxes on their own.

The latest on a unified retail FX brokerage bill in Russia came last month when Russia’s Duma Financial Committee signed an amended forex bill, readying it for second reading.

For the press release in Russian, click here.

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