Central Bank revokes licences of major forex dealers - page 14

 
Maxim Dmitrievsky:

Forex is not a speculative market, it is not interesting for foreign private traders and is absolutely opaque, if only as a sweepstakes

The stock exchange is designed for trading, what else is it for?

You may be surprised, but the EUR, GBP or JPY are speculative assets, just like everything else. There is no difference between currencies and other commodities on the stock exchange. Except that their market is decentralised and over-the-counter

 
Vitaly Muzichenko:

The first thing to do is to describe what is meant by the word pyramid

A pyramid scheme is when money is given out at the expense of newcomers

e.g.

our pension fund is a pyramid scheme, that's why they don't call it a pyramid.

 
Maxim Dmitrievsky:

I've told you almost all the secrets of the DTs.

Well, everyone knows them, except those who prefer to feed on illusions).

But it's good that you laid it out. However, the guys resist a lot and don't really want to see the reality:)

 
Yuriy Asaulenko:

Well, everyone is aware of them, except those who prefer to feed on illusions).

But it's good that you've laid it out. However, the guys are strongly resisting and don't really want to see reality :)

yeah really what... erase it better ) i have no mission on this

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

On a currency exchange, you can only exchange one currency for another. Making money from exchange rate differences, especially short trades, is not possible on a currency exchange. That is why forex and the exchange are completely different things. The forex market exists irrespective of the exchange and it is absolutely legal. The listed dealers were stripped of their licences because of false reporting: the contract was concluded with offshore companies, and the licence-holder companies did not conduct any transactions through them at all.

 
Maxim Dmitrievsky:

Forex is not a speculative market, it is not interesting for foreign private traders and is absolutely opaque, if only as a sweepstakes

And the exchange is designed for trading, so what else is it for?

The exchange is not geared for anything. There are many sections, and all of them have different objectives. The foreign exchange section is designed to exchange currencies. For example, you may exchange rubles for dollars, and then dollars back to rubles. But you can never make money on the exchange on a fall in the exchange rate of the yen to the Mexican peso. Do you get the difference? As for speculation, there is a futures section for that, where futures and options are traded. But the forex is an over-the-counter interbank market, where banks trade with each other. Dealing houses get their quotes from this market and provide them to their clients, who are basically betting on rise or fall of a pair. This is nothing short of a form of betting.

 
Sergey Vradiy:

The exchange is not tailored to anything. There are many sections and they all have different tasks. The currency section is for exchanging currencies. For example, you can exchange rubles for dollars and then dollars back into rubles. But you can never make money on the exchange on a fall in the exchange rate of the yen to the Mexican peso. Do you get the difference? As for speculation, there is a futures section for that, where futures and options are traded. But the forex is an over-the-counter interbank market, where banks trade with each other. Dealing houses get their quotes from this market and provide them to their clients, who are basically betting on rise or fall of a pair. This is nothing short of a form of betting.

Sort of like forex, 2 liquidity providers onlly

 

Alpari's comments on the Bank of Russia's decision

The Bank of Russia today published a decision to revoke the license of Alpari, a Russian subsidiary of the international financial services brand.

The international financial brand Alpari has been serving clients in various countries for over 20 years, in strict compliance with legal requirements. Throughout its history, the company has been licensed in multiple jurisdictions and has never faced a regulatory decision to terminate them for non-compliance with license requirements.
To date, Alpari Forex, a Russian legal entity of the Alpari brand, has received no official notification of license revocation from the Russian regulator and continues to serve clients in full compliance with Russian law. If notified, the Russian entity will act in full compliance with Russian law and will appeal against the Regulator's decision in the manner prescribed by law. In the meantime, the material published on the Bank of Russia's website does not provide an understanding of why the Bank of Russia intends to revoke the licences of all companies that are not banking subsidiaries.
The international financial brand Alpari continues to serve clients within the framework of the previous approvals and licences in all countries of operation in full.
 

That's the main reason for revoking licences :)

https://www.rbc.ru/economics/27/12/2018/5c250f589a7947ac05fd0de5?utm_source=yxnews&utm_medium=desktop

В Госдуму внесли законопроект о создании финансового супермаркета
В Госдуму внесли законопроект о создании финансового супермаркета
  • www.rbc.ru
Супермаркет финансовых продуктов, считают законодатели, позволит гражданам инвестировать свободные средства при помощи электронных платформ
 
Vitalii Ananev:

That's the main reason for revoking licences :)

https://www.rbc.ru/economics/27/12/2018/5c250f589a7947ac05fd0de5?utm_source=yxnews&utm_medium=desktop

What kind of nonsense is this? I don't think it will do any good. There is no way to get traders to this marketplace away from offshore brokers/DCs.