de | cn | ru

Brokers News

FBS Joins Russia's Forex Self Regulatory Organization CRFIN

FBS, the Forex broker that is operating out of Belize, has just announced that it has joined one of Russia's most influential Forex bodies – the Centre for Regulation of OTC Financial Instruments and Technologies (CRFIN). From December 20, 2013, FBS-Trade is a fully righteous member of CRFIN, which means that the clients of the broker have one more organization to take care of their interests and rights.  

 

A number of things should be clarified with regard to the move: for openers, if a Forex broker wants to operate in Russia, getting a membership in an SRO is one of the best things to do, given that there is still no Forex law in the country and that, if and when there is one, it will require a membership in an SRO. That's, of course, if a Forex broker wants to get a license from the Russian authorities.

 

More importantly, CRFIN emerges as the self regulatory organization that would be the hub for Russia-registered Forex brokers, hence FBS is acting pretty wisely by entering the group. There are many reasons for CRFIN getting this crucial role: it has been co-operating with Russian lawmakers on drafting the Forex bill and has been doing great job for years in securing the link between brokers and their clients. Last but not least, we cannot skip the rigid requirements that CRFIN has towards its members: financial transparency is really important if one wants to be a member of this SRO. In addition, regular checks and audits are conducted.

 

We should also note that FBS enters CRFIN as a Category A company, which means that it may fully support and maintain its financial operations on its own. Category A Forex brokers are considered as the most stable ones – the group includes names like Alpari Limited and Forex Club. The stability is not a simple idea, it's related to capitalization of the Forex brokers, as those belonging to the Category A group have the highest amount of capital: more than RUB 15 million (USD 466,000). And these are the brokers that are most likely to be able to afford to get the dealer licenses if the Forex bill passes the next readings in parliament and becomes a law. 

 

We are curious to see what would be FBS's next steps in the Russian market.

 

About FBS

 

FBS is a global forex brokerage house that provides investment services to international customers. The broker offers STP/ECN execution, tight fixed and variable spreads and professional customer support. At FBS, traders can sign up for three different account types: micro, standard and ECN/STP. The platform supported by the broker is Metatrader 4 (MT4).

 
TAGS: fbs  fbs forex broker  fbs belize  fbs russia  fbs-trade  fbs regulation  forex market  russia forex  crfin  self regulation forex  self regulatory organization  forex brokers russia  crfin sro  fbs crfin 

More news about FBS

Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
Cyprus, UK, Belize CySec, FCA, IFSC MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, South Africa, UAE CySec, FSCA, FSC MT4, MT5, Web $5 Review Website
Cyprus CySEC MT4, Web $25 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website

More Forex Brokers News

XM applies for a forex dealer license in the US

Jan 11 2019 13:39:14

  The US subsidiary of major forex brokerage XM has applied for a membership with the National Futures Association (NFA). This became clear from a filing by the broker’s US entity Trading.com Markets Inc. (previously Trading Point US Inc.) with the NFA dated January 3, 2019. Read more

HotForex acquired DFSA license, commences operations in the UAE

Jan 08 2019 10:45:37

  HotForex is now licensed by the Dubai Financial Services Authority (DFSA) and announced it commences operations in the United Arab Emirates (UAE). The Dubai arm of the HF Markets Group, HF Markets (DIFC) Ltd., acquired the DFSA license in December last year. Read more

CySEC warns Efexa1000 is not licensed

Oct 22 2018 12:55:06

  The Cyprus Securities and Exchange Commission (‘CySEC’) officially warned investors that Efexa1000 is not authorized to provide investment services in the country. Read more

IG Group gets licensed in the USA

Oct 16 2018 13:48:15

  Major forex broker IG Group (IG) got a green light from the National Futures Association (NFA) to operate on the US retail forex market. The US arm of IG Group, IG US LLC, has just been approved as a NFA member and is officially registered as a Retail Foreign Exchange Dealer (RFED). Read more

ASIC adds HBC broker to its warning list

Oct 09 2018 11:14:03

  The Australian Securities and Investment Commission (ASIC) has updated its list of “businesses to be wary of” with HBC Broker – an unregulated company that is trying to confound its potential clients by giving out some correct details of leading forex and CFD ... Read more

FBS wins ‘Best Copy Trading Application Global-2018’ award

Oct 05 2018 16:22:13

The prestigious “Best Copy Trade Application 2018 Global” award went to FSB  for their innovative CopyTrade platform. Read more

Capital Index renounced its CySEC license

Oct 03 2018 13:24:56

  It seems that global online brokerage Capital Index is the next to voluntarily renounce its Cypriot Investment Firm (CIF) license. Read more

FBS celebrates its 9 millionth trader

Sep 19 2018 17:17:28

After celebrating their 7 millionth million trader in March 2018, now just 6 months latter, FBS reached yet another milestone – their lucky 9 millionth trader is Jean Sales De Souza from Rio de Janeiro, Brazil. Read more

XTB fined $2.7 million by Poland’s financial regulator

Sep 19 2018 11:31:55

  The Polish Financial Supervision Authority (KNF) punished X-Trade Brokers (XTB) with a PLN 9.9 million ($2.7 million) fine for asymmetric price slippage on Tuesday. Read more

TD Ameritrade allows its clients in Singapore to trade via Messenger

Aug 27 2018 15:14:51

  Singapore branch of American brokerage firm TD Ameritrade announced on Sunday that its clients in are now able to make trades and access market information through Facebook Messenger. Retail investors in Singapore will have yet another way to access the U.S. Read more

de | cn | ru