Central Bank revokes licences of major forex dealers - page 10

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Alexander Ivanov:

He would at least start by closing all kinds of pyramid schemes.

Compared to forex, pyramid schemes are the devil's creation))).

Would he at least start? Probably not aware of how they have been dealt with for a long time. I have dealt with pyramids.

Unfortunately, they don't have a switch that is located in one place (like organisations), and yet in Russian jurisdiction.

 
Alexander Ivanov:

He would at least start by closing all kinds of pyramid schemes.

Compared to forex, pyramid schemes are the devil's creation)))

First you need a description of what is meant by the word "pyramid".

 
mathematicgraal:
According to the Central Bank as of December 21, nine companies had a licence to operate as forex dealers in Russia:
"Alpari Forex;
"Alfa Forex;
"VTB Forex";
"PSB Forex";
"Teletrade Group;
"Forex Club";
"Fix Trade";
"FINAM Forex";
"Fix Trade".

Did anyone trade in them? Some backstreet shops.

 
Vitaly Dodonov:
It was to be expected. The currency exchange must be traded through the MICEX. It should be accessed either directly or through real brokers, not through DCs who call themselves brokers.

You probably haven't heard about the OTC market. Well, it happens.

 
Ilya Malev:

You probably haven't heard about the OTC market. Well, it happens.

However, the BC has nothing to do with it.)

 
Yuriy Asaulenko:

However, DC has nothing to do with it.)

Here where?

 
Ilya Malev:

Here - where is that?

Over-the-counter market. There is no DC here).

 
Yuriy Asaulenko:

OTC market. There are no VCs here).

Large VCs are intermediaries in the OTC market (mainly).

 
Ilya Malev:

The large VCs are intermediaries precisely in the OTC market (mainly).

Only when large amounts of currency are actually exchanged.

 
Ilya Malev:

Major DTs are intermediaries in the OTC market (mainly).

A DC is by definition not an intermediary, but deals with a client on its own behalf

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