Invest100 Secures Latest FX Brokerage License in Minsk

Growth Capital LLC, a subsidiary of Saint Vincent and the Grenadines-based broker Invest100, has secured a regulatory license to operate in Belarus, Forex Magnates Russia reported today.

This permit states Growth Capital to be the 19^th brokerage firm that has been included in the register of Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term companies in accordance with the country’s local legislation.

Invest100 is the latest FX broker to eye a lucrative market in Belarus as the trends in retail trading are changing in the eastern European region. The FX industry’s interest in Belarus is justified by the Russian crackdown against forex brokers, which dates back to early 2018.

Minsk has become an important avenue for forex brokers as the Bank of Russia decided to strip several brokerage firms of their license to trade in forex. Most of the foreign exchange dealers operating in the country saw their licenses revoked last year.

FX industry’s interest in Belarus grows

Having acquired a license from the National Bank of the Republic of Belarus (NBRB), the next step for Invest100 is to undergo an assessment of their Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term in the National Forex Center. Concerning the financial terms, forex companies must have a capital of at least BYR 2 billion (about US$100,000), and to deposit a guarantee payment to the Compensation Fund to the amount of $50,000.

Thirdly, the licensed forex broker is obliged to become a member of the local Association of Financial Market Development – ARFIN. Other specific requirements for these companies include the obligation to incorporate a local entity to obtain a license from the central bank.

In 2016, a new regulation on forex operations in Belarus came into force. Before this date, the activities of forex companies in the country were not regulated, and the absence of explicit definition created a risk that forex brokers’ operations could be classified as illegitimate activities.