Russian forex market has emerged in the early 1990s as a consequence of the economy liberalization in the country. Since then has grown significantly, bringing with it a wide range of market participants onto the stage. Interestingly, at that only a few forex brokers have gained crucial positions on the Russian market.
Some of Russian forex companies have local origin, and along with this there are many globally-recognized forex brands on the Russian forex market as well.
Same as it is with other countries, in Russia new traders prefer to entrust their money to a broker having a headquarter or a local office in Moscow or other major Russian city, that is, within factual reach, and with a benefit of receiving fx services in their native language. The rise of popularity of forex trading in Russia has been to a large extent determined by the fact that in large Russian cities forex companies arrange forex courses and seminars, at times absolutely free.
The activities of forex brokers in Russia are specifically regulated. New brokers entering the Russian currency exchange market have to obtain a forex dealer license. This is obligatory for brokers either working in Russia or with the Russian citizens. The rules of regulation include provisions for the protection of the clients’ funds and for marketing of the offered forex services.
Choosing the best forex broker in Russia is not easy without deep knowledge of the local market. In general sense, optimal are stable companies with decent background and years of operational work on the Russian market.
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