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 (forex) 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.
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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.”