Forex in Russia, but with a foreign dealer: is it possible?
Since 01.01.2016 the law "On ", regulating the relations between the dealer and his clients within the legal framework of the Russian Federation, came into full force.
Forex in Russia: Is it possible to conclude a contract with a foreign dealer?
However, the question arises as to how Russian legislation will apply to foreign companies and their Russian clients.
If a foreign dealer is going to work in the Russian market, then having a license of a foreign regulator, its duties include registration of its representative office or branch on the territory of the Russian Federation and obtaining the appropriate accreditation from the Central Bank.
At the same time, neither a representative office nor a branch of a foreign dealer may provide financial services on the territory of the Russian Federation. The term "dealer" is not applicable to foreign companies at all within the framework of the law "On".
However, clients of a foreign company are entitled to conclude an agreement with it on the provision of financial and other services on the market outside Russia.
Russian legislation does not prohibit or restrict individuals from entering into contracts with foreign companies.
In particular, this is stated by representatives of FXOpen, who posted on their website reaching out to current and future customersDrawing on the text official recommendations of the Federation Council Committee on Budget and Financial Markets. Being a foreign company in the Forex market, FXOpen is not restricted in concluding contracts with Russian clients.
Forex in Russia
- Binary options broker went to the Bank of Russia for a license - 24option
- Why was the law "On" not moved, and -dealers all as one ran for licenses?
- The law "On " will not be postponed to 2017: what awaits traders from January 1, 2016?
- Finam was the first to receive a dealer license
- Nominal Dealer Account: What do I need to know about it from January 1, 2016?
Forcing foreign companies out of the russian Federation. This goal is a clear monopolization.
No monopolization, but only licensing and the requirement to comply with Russian laws. Ensuring control and revocation of licenses in case of violations, and ensuring the protection of the rights of both clients and forex-dealers. That's all. Now there is no such thing.
If a client who has concluded a contract with a foreign (non-Russian registered) company is located on the territory of the Russian Federation, it follows that this company provides services in the Russian Federation and must have a license or accreditation from the Russian authorities. The right of a foreign company to provide services abroad to Russian (by citizenship) clients is regulated not by Russian legislation, but by the laws of the country where the company operates.
And such an opportunity is created when a citizen of the Russian Federation is outside its borders. Exactly so, there can be no other interpretation. The author of the article has a mess in his head.