"The regulation of the foreign exchange market in Russia will separate it from the casino," Anna Kochkina, Insta.

Today Anna Kochkina, Director of Key Projects, answers FORTRADER.org magazine's questions Insta companies. With Anna, we discuss the future of the market in Russia, as well as the company's plans for obtaining a license.

- What is your assessment of the current market situation in Russia? Was it necessary to introduce licensing and regulation of this financial segment and why?

— Да, регулирование валютного рынка в России было необходимо. До 1 января 2016 года под названием «» могли предоставляться любые услуги, и это не проверялось государственными органами, поскольку законодательство не содержало определения деятельности -дилера как таковой. В связи с введением лицензирования слово «» в своем фирменном наименовании имеют право использовать только компании, система работы которых соответствует требованиям законодательства и проверена ЦБ РФ. Заключая договор с такой компанией, трейдер сможет быть уверен, что он получает доступ к услугам надежного -дилера. Это позволит валютному рынку отделиться от индустрии казино и пирамид в восприятии населения и занять соответствующее место в системе финансовых рынков РФ.

- How do you see the future of the currency market in the Russian Federation? Will new companies be interested in joining it?

- In order to operate in the Russian jurisdiction, a dealer's own funds must amount to at least 150 million rubles. Such high capital requirements will leave only large companies on the market. Other participants based in the Russian Federation will be forced to either merge, join larger ones, or leave the market.

It is likely that in connection with the entry into force of the legislation on the work in Russia will be of interest to large foreign companies that operate primarily in regulated markets. However, it makes sense to expect their appearance in Russia only after the first domestic dealers have obtained licenses and can start operating in the Russian legal field.

- Do you consider the current version of the law "on " successful? Are there any points you would like to change or finalize?

- Insta welcomes the emergence of legislation on the currency market and the establishment of rules of interaction between the state, -companies and their clients. In addition, it is worth noting that the "law on" perfectly copes with the regulation of conceptual issues - it provides a clear definition of the activities of a dealer, establishes a model of control and supervision over the activities of companies, and protects the rights of Russian traders.

However, some aspects of the legislation reduce the competitiveness of the offers of Russian legal entities compared to the services that can be provided by foreign companies. It would be desirable to increase the attractiveness of the Russian jurisdiction for a trader. In particular, to increase leverage to the level of 1:200, to allow trading not only in currency pairs, but also in metals and CFDs, to expand the list of deposit methods, to allow registration of accounts up to a certain deposit level online, without the need to visit the office or to purchase an electronic signature.

- Will the law "on" really protect the Russian trader? How will it manifest itself?

- Yes, absolutely. Trader protection is one of the main purposes of introducing regulation.

The legislation of the Russian Federation provides both direct ways of protection of the client - the possibility to appeal to the court, and indirect - for example, the obligation of the dealer to include in advertising a warning about the risk of loss of funds. Our company fully shares this position. We believe that effective notification of citizens about the risks associated with trading on the market will reduce the amount of unexpected deposit losses for the client. Together with the improvement of trader's financial literacy, which Insta is also working on by developing educational and analytical services, this will lead to an increase in the number of profitable trading decisions.

- Do you expect special activity and attention of clients to your company after obtaining a license and joining SRO?

- The availability of the license will be a confirmation of the company's reliability, so it is not excluded that more conservative investors and novice traders will be interested in our services. For more experienced clients, the wide range of innovative services offered by Insta and favorable trading conditions will remain a priority.

- Will customers feel the difference in working with your company before and after getting a license?

- If the client opens an account with Insta under the Russian jurisdiction, the account will be provided with those terms of work that are allowed by the legislation of the Russian Federation. In addition, personal income tax will be paid on profits generated by trading. However, in general, the company's policy of providing a wide range of innovative services and high quality of service will not change.

Continuing the topic of licensing in Russia

• "Trading is not easy at all. Expensive and time-consuming," Valentina Drofa, founder of the
• SRO - between traders and dealers. On the structure in Russia with Alexey
• "The ideal regulator is the one whose activity is invisible," - Igor Volkov, MFX Group
• On the law "On" and the future of trading in Russia with Stanislav Vaneev