Russia: 500 forex brokers blacklisted

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Russia: 500 forex brokers blacklistedIn an event that surprised the financial markets, especially the forex markets Publication of the Central Bank of Russia On Tuesday, a long list of foreign financial services firms were blacklisted and banned from operating in Russia. The list includes the names of 1,820 companies offering financial services, of which nearly 500 are forex brokers, regardless of their size or smallness.

The regulator did not explain the methodologies involved in compiling the list, but the inclusion of some of the major internationally licensed entities such as Interactive Brokers, Swissquote, Forex Club, FxOpen, Alpari and many more raises many questions and many in the industry see it as a crackdown that has nothing to do with financial regulation, you can see the list full from here.

In addition, the list includes several cryptocurrency trading platforms and companies that offer binary options. The Russian Central Bank highlighted that the names on the list show signs of being pyramid schemes and illegal lenders. Furthermore, the regulator will block access to all companies added to the blacklist and will work with law enforcement to take further action.

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