Alpari applies for Russian Forex dealer license

Alpari has joined the string the Forex companies applying for a Russian Forex dealer license.

On Tuesday, December 15th, Alpari Forex submitted the necessary documents with the Bank of Russia. The company, whose own funds exceed RUB 100 million, a pre-condition to get a Forex dealer license in Russia, aims to obtain the necessary authorization in the beginning of the first quarter of 2016.

Alpari has emerged as the leader in the Russian Forex market over the past several years, as indicated by the annual Interfax study. That is why it is hardly surprising that the company is applying for a Russian Forex dealer license.

Alpari is already a member of CRFIN, which is currently functioning as a Forex self-regulatory body in Russia. Being a member of a Forex self-regulatory organization is compulsory under the newborn Russian Forex law.

All Forex companies willing to offer their services to Russian residents should obtain Forex dealer licenses by the end of 2015. The Bank of Russia is warming up to an extension of the grace period for obtaining the licenses, as market participants push for the deadline to be moved by one year – until January 2017. However, the Russian “Megaregulator” is also seeking tighter rules for the Forex industry, including further restrictions on leverage.

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