will the FOREX live on? - page 2

[Sergey Vradiy]

Let me be clear, as I have been watching these events for a long time. All the forex dealers who have had their licences taken away have been working with Russian citizens for many years without a licence. Their head offices have offshore registration. A change in Russian legislation in 2015 was that forex dealers in Russia are henceforth only allowed to carry out advertising campaigns in Russia if they are licensed by the Central Bank to provide forex dealer services. Previously, such a licence did not exist in principle. Since all known forex-dealers did not have a Russian legal entity, companies were specifically created for the purpose of obtaining a license. Formally, they had a large share capital, but in fact they practically did not exist. These were "paper" firms through which no deals were made. The client would still conclude a contract with the offshore company and trade with it. Now the Russian invisible firms have been stripped of their licences. Has anything changed? In terms of the trading process, nothing has changed at all. Now, except that there will be no advertising, but tell me honestly, how much of it was there before? Everybody already knows that there are these dealers. So trading offshore will continue.

[Alexandr Saprykin]

Aleksandr Petrunin:
Probably everyone has heard that the top 5 Forex brokers will soon stop operating in Russia, and there are questions. Will it be the end of a trader's career for you? Or will someone master other markets? In general, how do you feel about it?

Nothing will change. Everything will stay the same. Stop creating unnecessary panic.

[Konstantin Nikitin]

the maximum that can happen is a minor inconvenience to the customers of these paper companies. They have been obliged to give money back to customers. This is where small changes are possible. They will either give it back, or more likely they will offer to transfer it to the account of the parent company and the trading will continue. Even more likely without closing any open positions and even without changing servers.
Everything will remain the same, by and large.

[Ilya Malev]

Konstantin Nikitin:
And even without changing servers.

That's a bit far-fetched.)

[Konstantin Nikitin]

Ilya Malev:

That's a bit far-fetched.)

What's the big deal. The trade servers were most likely not in the Russian space even now. So their change may not be necessary.

P.S. Website domain names are not affected. Yes, and this is such a trifle that there is nothing even to talk about )

[Evgeniy Kvasov]

Forex? No, you haven't)))

[Roman Shiredchenko]

Aleksandr Petrunin:
Probably everybody has already heard that soon 5 largest forex brokers will stop working in Russia and the questions arise. Will it be the end of a trader's career for you? Or will someone master other markets? In general, how do you feel about it?

yes, we know, it will not be the end of a trader's career, we will be mastering the russian seed market. The attitude is calm - this was to be expected.

[Andy]

Who thinks about it?

https://ru.forexmagnates.com/ogranichiv-ryinok-foreks-ot-brokerov-teper-ogranichat-i-ot-treyderov/

[Alexandr Saprykin]

Andy:

Who thinks about it?

https://ru.forexmagnates.com/ogranichiv-ryinok-foreks-ot-brokerov-teper-ogranichat-i-ot-treyderov/

What?

The Bank of Russia has effectively removed most half of the dealers from the Russian forex market

Where was that market anyway?

Bullshit.

[Vadim Zotov]

Alexandr Saprykin:

What?

The Bank of Russia has effectively removed most half of the dealers from the Russian forex market

Where was that market anyway?

Bullshit.

They couldn't think of anything cleverer than removing clients from those who have already been closed or are about to be. Most likely 99% of all traders are in the same place where normal brokers and DCs are - offshore. That is where they will stay. Money likes quiet, not the concern of half-drunk bosses who on New Year's Eve suddenly decided to "protect" their traders by suspending them from trading. Ridiculous.