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Ukrainian Forex is Still Alive: IronFX Joins UCRFIN

Given the complicated situation in Ukraine, many of us must have slapped a label “out of order” on this spot on the map: but the Forex industry in the country appears to be alive and kicking, or at least this is what the activity of local Forex brokers shows. Cyprus-based broker IronFX, which in February this year opened an office in Kiev, has just announced that it had joined UCRFIN, a local Forex self-regulatory organization. UCRFIN, whose full name is (hold your breath) the Ukrainian Centre for OTC Financial Instruments and Technologies Development, started operating in the summer of 2013 and, by the way, we've already told you about it when we reviewed the state of the Ukrainian Forex market last year. 

 
IronFX becomes the fifth member of the self-regulatory organization, following:  
 
- TeleTrade Consulting Llc;
-  Robo Consulting Llc (a subsidiary of RoboForex);
-  International Exchange Trade Academy Llc (a part of Forex Club);
-  Admiral Markets Llc.
 
UCRFIN is engaged in collaborating with Ukrainian regulators on drafting a Forex law, as well as for developing uniform rules of conduct for the industry. Amid its functions is also tackling complaints from Forex brokers' clients – you can lodge such a complaint at the organization's website
 
Many of you may wonder what's the big deal about IronFX entering UCRFIN – well, it's all about timing. The move comes as a piece of evidence that the work environment in the country, and Kiev, in particular, is still mild. By the way, this was also confirmed by Pepperstone, the Australian Forex broker that recently opened an office in Odessa. The broker responded to our inquiry about the work at its Ukrainian office by saying that business goes on normally
 
Apparently, the fortunes of the Ukrainian Forex sector are stable, without any drama. 
 
It would be interesting to know though about the business of Forex brokers that operate in the eastern parts of Ukraine, where there are also calls for referendums and the pro-Russian mood is high. One such broker is Alpari, with offices in Kharkov and Donezk.
 
 

About IronFX

 
IronFX is a Cyprus-based broker, regulated by CySec and specializing in Forex, CFDs on US and UK stocks, commodities, spot metals and binary options. The company was established in 2010 by an experienced team of Forex specialists and software experts aiming to create and offering an online trading environment with “One Account, Ten Platforms” trading functionality. Using the Meta Trader 4 (MT4) platform as a trading platform basis, combined with substantial in-house development, IronFX offers full access to strong liquidity, fast execution and a wide range of trading instruments, with spreads starting from 0 pips.
TAGS: ironfx  ironfx forex broker  ironfx ukraine  ukraine  forex market  ukrainian forex  forex regulation  ucrfin  self-regulatory organization  ukrainian tensions  forex office  ironfx office  kiev  kyiv  ucrfin members 

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