Forex to be regulated in Russia by 2013

Russia commonly to refered to the 'home' of the ubiquitous 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 market is planning to fully regulate the spot FX market as a regulated asset class by 2013 according to Andrei Lozovoy a government representative.

Retail investors have been heavily attracted to the liquid asset class, domestic Russian firms have been strong in marketing the product across the BRIC nation.

Amongst the BRIC nations Forex is most established in Russia, representing a full eco system of: trading platforms, executing brokers and a large number of traders.

Leading Russian brokers had formed a self-regulatory pact to try to improve the image of Russian FX brokers.

Spokesperson from the Ministry of Finance believes the many offshore Russian brokers should be regulated with a dealers license, similar to securities brokers.

The new regulations will regulate firms and employees and all activities especially the financial promotion aspect of their business which receives most complaints. Most messages highlight the positives but not the risks involved in Forex Trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term.

Turkey a popular destination for Forex brokers recently regulated the asset class.

Forexmagnates team wrote a detailed report about FX in Russia, available in the Q3 quarterly report 2011.