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Tuesday, 21 May 01:26 (GMT -05:00)



Foreign exchange market

Russian Forex Jurisdiction Gains Strength


After the summer break, investors are going back to business, refreshed and ready to go productive. Most of them see September as the beginning of a new life cycle in their career. its not accidental that an unprecedented event is planned by Alpari Forex. The Alpari office located in Saint Petersburg, Russia, will welcome Evgeniy Masharov, who is in charge of the Association of Forex Dealers. He is visiting Alpari Forex for the first time and planning to participate in a meeting with some of the Forex traders and investors registered in the Russian FX jurisdiction. 
 
The participants are expected to discuss the most urgent problems existing in the jurisdiction as well as its prospects and ways of improvement as a part of the global FX industry. It's not accidental that the meeting will take place in Saint Petersburg. The thing is that the Russian FX segment of the international FX market has been booming over the recent years. it has also change for the better quite a lot, including many legal changes making the segment more secure and regulated. Still, there is a lot to solve to make the market even better.
 
This is what the participants are planning to discuss. By the way, Director General of Alpari Forex Guzel Mirzeeva will also attend the meeting. During a preliminary interview, she answered traders questions, mostly related to the market mechanisms and product specifications offered by the company.
 

Гузель Мирзеева Альпари

These are some of the questions:
 
Question: What's new in the Russian Forex jurisdiction?
 
Guzel Mirzeeva (GM): 
 
These days, the Russian Forex industry keeps on developing confidently. 8 Forex dealers licensed by the Central Bank of the Russian Federation have still been members of a self-regulated organization called the Association of Forex Dealers. Just 4 learning centers working with the licensed and regulated FX dealers have been registered as accredited companies and therefore have the right to provide FX education services. The learning center by Alpari was the first one to be licensed (license №001). The corresponding licensing was made by the Association of Forex Dealers.
 
Question: Is your learning center already operating?
 
GM: Yes, indeed. Our clients have been getting comprehensive educational support ever since the opening. On top of that, in late August, the Alpari learning center invited Forex instructors from 20 cities to assess and certify them. We always require high standards in terms of the quality of education, the instructors' skills and their methods. 
 
Question: What problems exist in the Russian FX industry?
 
GM: Today, on of the main issue on the agenda has to do with simplified user identification by licensed Russian FX dealers. It's been actively discussed by the market participants. The corresponding draft bill has already been introduced to the Russian legislators. By the way, in the neighboring Republic of Belarus, this question has recently been resolved. Apart from visiting the company's office personally, now FX traders have the opportunity to get verified online without a personal visit. Apart from that, Alpari Eurasia is licensed by the National Bank of the Republic of Belarus. It successfully lunched an online project together with BPS-Sberbank to let the clients get easily verified for Alpari Eurasia by visiting any BPS-Sberbank office with their passports. we hope that this experience with be passed on to the Russian segment. Anyways, the Russian FX jurisdiction is getting more and more popular with international traders and investors. It has been moving on and forward towards high international standards while making it difficult for unfair companies to operate in the industry.
 
Question: How did Alpari contribute to making the Russian FX jurisdiction more popular?
 
GM: To my mind, it has contributed a lot. From day one, Alpari Forex has been busy promoting the Russian FX jurisdiction among local and international traders and investors. Since 2017, the company has held over 90 free events in more than 50 Russian cities.
 
Question: What has the industry been focused on right now?
 
GM: For us, it's important to sustain the dialog with the client. Basically, that's why we are happy to hold another major event on September 13th in Saint Petersburg. It's extremely important for the entire Association of Forex Dealers to get timely feedback of high quality from their clients as well as some other traders and investors operating in the Russian FX market. It's essential to learn their opinion on the new legislative initiatives, as well as on the questions related to client rights, market issues and perspectives. 
 
Question: Amid  trade and currency wars, what would you recommend to people in terms of the assets to secure their savings? What's likely to happen to the Russian Ruble exchange rate?
 
GM: I would recommend against selling out the Russian Ruble in panic. I strongly belive that a good investment portfolio should be well balanced and diversified with various currencies. As for the Ruble, any downtrend is followed by a period of at least partial recovery.

 

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