RoboForex Joins Belarus' OTC Forex Association, ARFIN

International broker RoboForex announced this Monday that its affiliated company in Belarus, which provides brokerage services under the RoboForex brand, has joined the Financial Market Development Association (ARFIN).

ARFIN is a union of organizations that operate on the over-the-counter (OTC) foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (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) markets. By joining the association, the Belarus-based broker must comply with the Rules of Market and Professional Conduct, which regulate corporate conduct for members of the organization.

The broker is the latest member of the Belarusian association, joining the likes of Alpari, ForexClub, Capital.com and other companies operating on the OTC FX market in the country.

The Group currently operates two brands – RoboForex is licensed in Belize and RoboMarkets is based and regulated in Cyprus. The two firms worked together and ultimately decided to use the RoboForex brand for the new Belarusian entity.

RoboForex Secures Licence in Belarus in April

Today’s announcement follows on from the company's Belarusian entity being granted a license from the National Bank of the Republic of Belarus in April of this year. As Finance Magnates reported, RoboForex’s Belarusian brand offers trading via MetaTrader 4 in a range of assets such as forex, metals, commodities, indices, and contracts for difference (CFD) trading.

The company is the second major broker to receive a regulatory license from the National Bank of Belarus in a month. In mid-April, Capital.com announced that it had received a license from authorities in the eastern European country.

Commenting on the latest development, Andrei Dziarnovich, the Chief Executive Officer of RoboForex BY, said: “A month ago, we received the license of the National Bank of the Republic of Belarus.

“Now, we’re joining ARFIN, the association, which protects interests of clients and expands civilized trading on the Forex market in the first place. All these steps are driven by our intentions to provide quality and competitive services on global financial markets.”