Capital.com is opening its service to Russia and CIS residents to support an increasing client base and cater to the demand for online trading services in the region.
The addition of support to Russian clients meets the firm’s commitment to developing a strong web presence with a local approach to serving its clients in this jurisdiction. This includes its machine learning technology, dubbed ‘eQ,’ which the company says it can improve traders’ capabilities by monitoring their activity for cognitive biases.
In addition, the delivery of a trading environment to the CIS market goes hand in hand with the company’s overall strategy to expand in the region, one of the largest markets for Capital.com.
“We are proud to open access to our platform for traders from the CIS countries and set ourselves the task of providing customers with the best trading conditions in the world. Fast execution of orders, powerful analytical tools and an impeccable reputation are only part of what we are ready to offer our customers,” said Ivan Govan, CEO of Capital.com
The move, however, is probably raising questions when Russian restrictions on the FX industry are concerned. Most of the foreign exchange dealers operating in the country saw their licenses revoked last year. The list includes Alpari Forex, Forex Club, Fix Trade, Trustforex, and Teletrade Group.
TrustedBrokerz: The Source More Traders Are TrustingGo to article >>
The official reason behind the move was that brokers had been using aggressive advertising to lure Russian clients, providing false accounting data, mishandling risks, and moving clients’ money offshore, among other violations.
A mobile, AI-focused brokerage firm
Obviously, Capital.com will offer services to the Russian market through its Belarus regulated brand. The company, which is operating globally via its Cyprus license, acquired the new permit at a time when the market in the country is continuously growing with new players.
Of note, the Cyprus Securities and Exchange Commission requires all authorized CIFs to fully disclose all countries in which they are operating. As such, Capital.com’s Cyprus subsidiary will need to notify CySEC before it can provide its services in Russia or any other country and is also required to first get appropriate authorization from the relevant regulatory authorities.
Capital.com is a mobile, CFD-focused brokerage firm which is operated by Capital Com SV Investments Limited, regulated by the Cyprus Securities and Exchange Commission (CySEC).
The firm also says that its apps leverage advanced artificial intelligence technologies to deliver trading-related content in a personalized way. Capital.com’s team is also planning to roll out more advanced new AI features in the near future.