Belarusian Forex Club announced today that the Forex Club Group of Companies represented by financial company Forex Club has been included in the list of forex companies of the National Bank of the Republic Belarus. Forex Club is one of the first companies to have obtained an official status in Belarus.
Commenting on the company’s inclusion, Evgeny Mandrusov, Director of Financial Company Forex Club, said: “The Republic of Belarus is the foremost CIS country in financial market regulation. Inclusion into the List of forex companies of the National Bank is an important step in our business development in Belarus and CIS as a whole.”
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In order to be included in the list, a forex company needs to have fulfilled a number of significant requirements including having two billion Belarusian rubles of internal capital, keeping fifty percent of clients’ money in segregated accounts of local banks, using certified software and following strict accounting practices.
The Belarusian forex company will offer services in line with other forex brokers in the industry in terms of the range of financial instruments provided and the terms of trading offered.
Forex Club is due to start providing services to clients shortly and a date will be announced imminently, after the completion of its software certification at the National Forex Center.
Forex Club submitted the documents and application for inclusion into the National Bank of the Republic Belarus’ list on 15 March, 2016, in line with the Act of the President of the Republic Belarus which governs the operations of all forex companies in the country.