what should the authorities do to ensure that foreign brokers open representative offices in russia? - page 3
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Teach people financial literacy...
And just literacy).
What should the authorities do to make sure that foreign brokers open representative offices in Russia?
What should the authorities do to make foreign brokers open representative offices in russia?
You don't have to do anything. If there is interest, they will come themselves.
The broker I work with gives you an excellent opportunity to trade on foreign exchanges through the same Quick. I don't tried it myself, because I don't need it, but judging by announcements on site, the dividends on inostocks are paid regularly.
And not only this broker. I looked at the sites of several others, which are at the top of the MOEX rankings, they also provide such an opportunity.
Today I sent a letter to the regulator about protecting the rights of speculators, here is the text of the appeal
Hello,
Recently the news about the impending ban of forex trading for individuals has been released and in this connection I would like to share the thoughts of the very non-professional potential participant of this sphere. I am currently unemployed and investigating this direction for some kind of additional earnings, though it has not come to this, but with the development of algorithmic trading (software tools) this area has attracted new participants - there are all kinds of traders, programmers, and specialists of mathematical analysis and financial analysts, in general, quite an intellectual community has been formed.
So, what to do all the same to legalize this sphere and to take under control all relations between its participants - of course, this can be done only by creation of environment.
ECN-trading with execution of orders on the market in real time is very actual now, and the possibility for traders to control the quotes of brokers through aggregators, which usually give the history on showing the contract with the broker who is their client, creates this very confidential environment. Yes, there are still a lot of cheaters, but in principle during an ECN trade the relationship between the broker and an individual trader (and a legal entity who gave his funds to the broker for management) is more trustworthy than ever, because there is a real possibility to control the quotes, for which the position was closed with a loss. This is a very important factor, the lack of which in many brokers was immediately noticed by me when I became acquainted with this sphere.
In general it is clear that somehow we should compete with these offshore brokers, and for that in my opinion a whole set of solutions is needed for a potential unqualified investor (a physical person), for example:
1. To create a preferential tax regime for Russian and foreign forex brokers with offices in Russia to compete with offshore brokers, in exchange for higher taxes on income / profit tax on forex trading for individuals and legal entities from 13% and 20% respectively to 35%. For individuals, it is possible to set a downward trend for the tax rate: in the first year 70%, and then with an annual decrease by 5% of the initial tax rate for those who do not commit gross violations - pay taxes on time and disclose information. As a result, individuals will receive the same 35% for taxes on income from forex. If he commits a gross violation, 5% should be added back, but this requires sophisticated administration.
2. study the general legislation in England, Australia, USA to regulate this area and apply it to improve the competitive environment / quality of services provided. I know one Australian offshore broker, and a successful one at that, but I have not come across English/British and American offshore brokers yet. So it may be of interest to look into Australian practice.
3. To establish for the accredited brokers a size of a nominal account with the Bank of Russia in direct correlation with the volume of the attracted funds of the clients - physical and legal persons on deposits. This requirement of the availability of the 100 million roubles, in fact, cuts off the possibility of the arrival of new legal brokers and impedes the development of the competition.
The obligatory condition of the broker's accreditation should be the disclosure of the information about the liquidity aggregators/suppliers and the existence of the verification mechanism of the quotations, which are delivered by the broker to the client terminal through the Internet resources, independent from the broker. Applicable to ECNs, standard accounts do not provide these conditions, on the contrary, the law essentially creates conditions for manipulation of quotes by the broker within 0.05%.
5. A unified financial centre for regulation of financial disputes of the participants of forex trading - of course with obligatory registration of all brokers in the centre. Plenty of "manual" for brokers and self-regulating organizations created by brokers do not meet the requirements of objectivity and independence in the consideration of disputes with clients. It would be easier to create a separate department of the Central Bank as such an integrated financial centre and make it one of the profit centres by imposing fines on violators of legislation and contractual terms of trading.
6. To introduce into the law the concept of supplier of liquidity (quotations), the concept of an independent customer control mechanism of quotations and the requirement of compulsory disclosure of such information.
7. A broker shall not be entitled to demand compensation for losses on the execution of the client's orders, exceeding the amount of the client's funds on deposit, if the broker has provided the client with leverage for the execution of trading operations. For example, a broker could be obliged to insure his liability - the feasibility of mandatory insurance can be considered separately where to apply it and at whose expense.
This has to be solved together with the Ministry of Finance and the Financial Monitoring Service.
To forbid it would mean to sign one's own inadequacy.
To simplify, legalize, compete with offshore, be aware of what is going on and collect taxes - that is the goal.
Good luck,
You don't have to do anything. If there is interest, they will come on their own.
The broker I work with provides an excellent opportunity to trade on foreign exchanges via the same Quick. I haven't tried it myself because I don't need it, but judging by the announcements on the website, dividends on inostocks are paid regularly.
And not only this broker. Looked at the sites of several others, which are at the top of the MOEX rankings, they also provide such an opportunity.
And is the ECN on MT4 - MT5 there too?
Eh - the feeling of being young and being able to change the world...
Good luck!
However, the purpose of these bans, oddly enough, is well-intentioned - statistically everyone drains sooner or later - so it is detrimental to the population as a whole.
Besides, the 100-500 leverage is untenable for the main competitor - MOEX.
I suggest a better idea to write to MOEX with a request to introduce micro lots (now minimum 1000 units) to buy currency - then it will be possible to really build a synthetic for a small amount. You could also talk about micro futures, even with their leverage it could be interesting.
And just literacy).
What should the authorities do to make sure that foreign brokers open representative offices in Russia?
Yes, when I created the topic, I was captioned. And then the caps were removed and everything became lowercase.
Eh - the feeling of being young and being able to change the world...
Good luck!
However, the purpose of these bans is, oddly enough, well-intentioned - statistically everyone leaks sooner or later - so the general population is harmed by it.
Besides, the 100-500 leverage is untenable for the main competitor - MOEX.
I suggest a better idea to write to MOEX with a request to introduce micro lots (now minimum 1000 units) to buy currency - then it will be possible to really build a synthetic for a small amount. We could also talk about micro futures, even with their leverage it could be interesting.
Yes, I agree that ...
But all the same, there are decent brokers, and why should physical traders be deprived of additional income? For some people their main income is from Forex trading.
And you yourself about microlots in MICEX made a proposal? Try to communicate on this subject. But I got the idea, thank you. Although everybody complains about insufficient volatility of trades there, I think the arrival of physicists won't move the market very much, but it shouldn't be worse.
So try to communicate with them - you will be able to explain your vision to them better.
Eh - the feeling that you are young and can change the world...
It's like pinball - the more the ball ricochets and rushes around, the longer it stays in the game)))
Yes, I agree that ...
But there are still adequate brokers, and why should we physicists be deprived of additional income?
Because people spend years and decades of their lives... You think you're getting smarter, you have a system, and after each loss you do get a little smarter, but not so much as to give up what you've invested a huge chunk of your life in.
Maybe there are some unique people who have been earning money for a year and haven't lost money for decades... But I haven't met any of them.
People need to be taught how to invest - to preserve capital. There is no easy money in Forex or the stock exchange, but the exchange (MOEX) in our case is transparent to the regulator and the trader. For poor guessers, there are options, on which you can really earn by investing $100 to make $500 - and do not be afraid of drawdown for a month - the main thing is to determine the right direction of the movement, if it occurs.