RoboMarkets Receives Labuan License
- With a less restrictive regulator, the Malaysian island is becoming a hub for FX brokers in Asia
Retail broker RoboMarkets told Finance Magnates on Thursday that it has become the latest broker to receive a license from regulatory authorities in Labuan.
The news means that the group's Asian entity will be able to provide trading services in contracts for difference (CFDs) and 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.
A part of Malaysia, Labuan is made up of a series of small islands situated just north of Brunei.
The territory has its own financial watchdog and, with a less restrictive set of regulatory policies for the Retail Trading Retail Trading In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade Read this Term industry, it is fast becoming a hub for brokers that want to operate in Asia.
RoboMarkets will be opening an office in Labuan now that it has received a license there. The broker already has a marketing office in Shah Alam - a large city in mainland Malaysia that is close to Kuala Lumpur.
“Malaysia is one of the most dynamically developing countries in South-East Asia with a population of many millions," said Rostyslav Prus, CEO at RoboMarkets Asia.
"It’s a country that offers a lot of advantages for brokerage activities, and it is backed by sound economic fundamentals with promising prospects."
Global spread
With its new license, the RoboMarkets group is now regulated in four different jurisdictions.
Aside from Malaysia, the broker has a license from Cypriot authorities and another in Belize. The company also received a license from the National Bank of the Republic of Belarus in May of this year.
An executive at the broker told Finance Magnates in May that the different licenses are used to target different regions. The Belarus license, for example, is used to attract clients from countries in the Commonwealth of Independent States.
"The goal of RoboMarkets Asia is to provide quality financial services for Asian traders to enter the global FX and CFD markets and do our best to deliver excellent trading experience to our clients," added Prus.
Retail broker RoboMarkets told Finance Magnates on Thursday that it has become the latest broker to receive a license from regulatory authorities in Labuan.
The news means that the group's Asian entity will be able to provide trading services in contracts for difference (CFDs) and 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.
A part of Malaysia, Labuan is made up of a series of small islands situated just north of Brunei.
The territory has its own financial watchdog and, with a less restrictive set of regulatory policies for the Retail Trading Retail Trading In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade Read this Term industry, it is fast becoming a hub for brokers that want to operate in Asia.
RoboMarkets will be opening an office in Labuan now that it has received a license there. The broker already has a marketing office in Shah Alam - a large city in mainland Malaysia that is close to Kuala Lumpur.
“Malaysia is one of the most dynamically developing countries in South-East Asia with a population of many millions," said Rostyslav Prus, CEO at RoboMarkets Asia.
"It’s a country that offers a lot of advantages for brokerage activities, and it is backed by sound economic fundamentals with promising prospects."
Global spread
With its new license, the RoboMarkets group is now regulated in four different jurisdictions.
Aside from Malaysia, the broker has a license from Cypriot authorities and another in Belize. The company also received a license from the National Bank of the Republic of Belarus in May of this year.
An executive at the broker told Finance Magnates in May that the different licenses are used to target different regions. The Belarus license, for example, is used to attract clients from countries in the Commonwealth of Independent States.
"The goal of RoboMarkets Asia is to provide quality financial services for Asian traders to enter the global FX and CFD markets and do our best to deliver excellent trading experience to our clients," added Prus.