B2Prime Becomes First Approved FX Prime Broker in Belarus

B2Prime, part of broker technology provider B2Broker, has become the first forex prime broker to obtain its license to operate in Belarus in accordance with the country’s local legislation. The news was first reported by Forex Magnates Russia.

Prime Brokerage Services Limited, or B2Prime, offers a range of prime brokerage services with over 800 trading instruments, including forex, shares, indices, metals, and commodities. Its parent entity also aggregates and distributes Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term via several distribution systems, including OneZero Hub, PrimeXM X-core, B2BX Marksman, FIX API, Tools for Brokers Bridge, and AMTS ECN Bridge.

In order to launch operations in Belarus, B2Prime acquired a license from the National Bank of the Republic of Belarus (NBRB), which allows them to be included in the register of forex companies. The second step is to undergo an assessment of their Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term in the National Forex Center, an institution established by the Council of Ministers together with the central bank. Concerning the financial terms, forex companies must have a capital of at least BYR 2 billion (about US$100,000), and to deposit a guarantee payment to the Compensation Fund to the amount of $50,000.

Thirdly, the licensed forex broker is obliged to become a member of the local Association of Financial Market Development – ARFIN. Other specific requirements for these companies include the obligation to incorporate a local entity to obtain a license from the central bank.

FX industry’s interest in Belarus grows

In 2016, a new regulation on forex operations in Belarus came into force. Before this date, the activities of forex companies in the country were not regulated, and the absence of explicit definition created a risk that forex brokers’ operations could be classified as illegitimate activities.

The FX industry's interest in Belarus is justified by the Russian crackdown against forex brokers, which dates back to early 2018. The Bank of Russia eliminated competition from the entire forex market in the country after it decided to strip several brokerage firms of their license to trade in forex. Most of the foreign exchange dealers operating in the country saw their licenses revoked last year. The list includes Alpari Forex, Forex Club, Fix Trade, Trustforex, and Teletrade Group.

B2Broker has been highly active over the past few months in terms of its overall business and developments. This included the launch of its B2BX project, which was billed as one of the first aggregators of cryptocurrency liquidity.

Initially founded as a company to provide FX technology solutions, B2Broker has carved a niche in the crypto market as a liquidity provider. This move was borne out to enable smaller brokers, which may not have the leverage to access liquidity from the top tier providers, to be able to source such liquidity from B2Broker.