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Alpari finally gets a Russian forex broker license

Nov 29 2016
By
Forexbrokerz.com

The Russian unit of Alpari group (Alpari Forex) has finally been granted a forex broker license by the Central Bank of Russia (CBR). According to a notice published on Tuesday on the central bank’s website, the license was issued on 28 November, 2016, a day after Alpari Eurasia officially launched operations in Belarus.

Alpari is the largest retail forex broker in Russia and its official licensing was only a matter of time. In fact, locally-based forex brokers are required to be licensed by the CBR as of 1 January, 2016. Alpari first applied for a license in December 2015, but the application was rejected by the CBR without reasoning. The broker, however, did not give up - it reaplied and has finally received a license in Russia.

Alpari is the sixth forex broker to receive CBR license. The other regulated brands are TeleTrade, Finam Forex, TrustForex and VTB24 Forex, and Forex Club.

“We have done a lot of preparatory work and are pleased that Alpari Forex received a Russian license. It enables customers to choose Alpari domestic jurisdiction for the international financial markets and provide them with additional legal protection,” Boris Shilov, the chairman of the supervisory board of Alpari, said. “Alpari will continue to work in close cooperation with regulators and other market participants for improving the market. We hope that soon the Russian forex market will take its rightful place as a world recognized jurisdiction,” he noted.

The news broke a day after Alpari officially launched operations in Belarus after it has successfully passed the tests of the Belorussian Currency and Stock Exchange, which acts as the National Forex Center. We remind you that the Belarusian unit of Alpari (Alpari Eurasia) was registered by Belarus’ central bank as a forex broker earlier in June.

Alpari is headquartered in Russia and has offices in Belarus, Saint Vincent and the Grenadines, Belize, Mauritius, and the UAE. The group consists of Alpari-Broker (Russia), Alpari Ltd. (Saint Vincent and the Grenadines), Alpari International Ltd. (Mauritius), Alpari Ltd. (Belize), Alpari Eurasia (Belarus) and Alpari Forex (Russia). Alpari used to operate a UK-regulated unit, which went insolvent in January 2015 after it faced exceptional volatility and extreme lack of liquidity as a result of the Swiss Franc spike.
 

TAGS: alpari  russia  forex license  russian forex license 

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