A follow-up to LeapRate’s earlier report on Forex Club applying for a Forex company registration in Belarus…
The broker has announced that, effective April 19, 2016, it is featured in the National Bank of the Republic of Belarus’ register of FX companies. The company is amid the first to get such authorization.
To make it to the register, an FX company has to keep at least 50% of clients’ funds in segregated accounts in local banks, have a minimum capital of BYR 2 billion (around $100,000) and use Forex software certified by the National FX centre.
Forex Club’s Belarusian division will offer its clients in the country trading in currency pairs, shares, energy, metals, and indices.
Meanwhile, the Bank of Russia has not yet announced its decision regarding Forex Club’s application for a Forex dealer license.
For the full announcement from Forex Club, click here.