Practical question: How much profit can be withdrawn from Russian licensed DCs. Are there any problems with this (precedents if possible). - page 3
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Hello Vladimir, So it is urgent to inform AFD SRO (since they do not know) that they have only three forex dealers left and that they also urgently update their information, which they have on their website as of October 05, 2020.
Better still, I suggest the author of the thread to click on the link Four, download the register and look at the number of members in AFD's SROs. After that, let him determine for himself how many licensed Forex dealers there are in Russia.
Sincerely, Vladimir.
They know about it, but a tale is not as fast as a tale begins. Now the deadline for voluntary termination of the framework agreements with the clients has just ended, on September 30, which was sent to https://ru.forexmagnates.com/psb-foreks-poprosil-svoih-klientov-zakryit-scheta/:
"PSB-Forex LLC hereby notifies of the decision taken by the Sole Participant of Promsvyazbank PJSC to refuse to carry out the activities of a forex dealer. PSB-Forex LLC is currently preparing to submit an application to the Bank of Russia for the voluntary revocation of the license of the Bank of Russia to operate as a forex dealer. You are kindly requested to notify PSB-Forex Ltd by 30 September 2020 in writing of the termination of the Framework Agreement", the forex dealer, soon to be ex-dealer, addressed to his clients the day before.
End of quote.
But there is no need to discuss the rules and peculiarities of withdrawal of funds from PSB-Forex. It can only be noted that in this case the losses of the PSB subsidiary will be paid by the Russian budget. There was no announcement of bankruptcy - so, PSB decided to pay for its losses, the more so it is not very difficult for it, because after the bailout it is already a state bank (a support bank for state defense order, owned by the Federal Property Management Agency) . https://www.banki.ru/news/lenta/?id=10908551: In 2019-2021, Promsvyazbank may be recapitalized by 50 billion rubles. That will definitely be enough. There will also be money left over for the state defence order.
https://ru.forexmagnates.com/2-mln-za-rossiyskuyu-foreks-litsenziyu-i-220-treyderov/: 26.02.2020 For almost 2 years Promsvyazbank has been trying to sell its forex dealer licence, but there are still no willing buyers.
https://ru.forexmagnates.com/psb-foreks-otmuchalsya-i-prinyal-reshenie-o-likvidatsii/ : Aug 12 2020 PSB-Forex has exhausted itself and decided to liquidate
So that leaves three.
They know, but it's not as soon as a fairy tale is told. The deadline for voluntary termination of framework agreements with clients, 30 September, has now just ended and was sent out at https://ru.forexmagnates.com/psb-foreks-poprosil-svoih-klientov-zakryit-scheta/:
"PSB-Forex LLC hereby notifies of the decision taken by the Sole Participant of Promsvyazbank PJSC to refuse to carry out the activities of a forex dealer. PSB-Forex LLC is currently preparing to submit an application to the Bank of Russia for the voluntary revocation of the license of the Bank of Russia to operate as a forex dealer. You are kindly requested to notify PSB-Forex Ltd by 30 September 2020 in writing of the termination of the Framework Agreement", the forex dealer, soon to be ex-dealer, addressed to his clients the day before.
End of quote.
But there is no need to discuss the rules and peculiarities of withdrawal of funds from PSB-Forex. It can only be noted that in this case the losses of the PSB subsidiary will be paid by the Russian budget. There was no announcement of bankruptcy - so, PSB decided to pay for its losses, especially it is not very difficult for it, as after the bankruptcy it is already state-owned (a support bank for state defense order, owned by the Federal Property Management Agency) . https://www.banki.ru/news/lenta/?id=10908551: In 2019-2021, Promsvyazbank may be recapitalized by 50 billion rubles. That will definitely be enough. It would also leave money for the gosoboronzakaz (state defence contracts).
Hello, Vladimir! I think that when a member of SRO AFD is liquidated, it is time to talk about a fait accompli. In the meantime, this talk is about nothing, because everything may change in the fate of this Forex dealer at any time, and no one knows in what direction. If the parent bank wanted to, it would have done so a long time ago. I suggest that we put a full stop here.
Regards, Vladimir.
Spreads don't mean anything - it may be 20p or more. If the bet is right, even 40p spread is worthless.
...
I don't care if it's 30%. I do not mix concrete, it does not matter. And then - if I do nothing for a month hit from 1000-8000 dollars, then what is it worth to me to give this at least half. This isn't a casino.
You have in these two phrases - an answer to the question of why the problem of profit withdrawal for you will not be relevant for at least a few years.
And the reasoning about "who gives away decent sums" is like "reading fiction while surviving on Jupiter", yeah.
But perhaps you're right in that you need to figure out first whether it's even worth getting into forex at all. And the answer is predictably not worth it.
Why are you so hung up on licences? They cost a lot of money, by the way. Guess who pays for these licenses? That's right, the traders. Hence the bullion spreads and all sorts of bullshit gimmicks.
I withdrew $50K to webmoney in 2011. My broker called me and asked if I wanted to withdraw to the bank and after my explanations he asked for a few days to assemble the amount in wmz. I got it.
I have transferred 9000 this year, but from another broker. I had to use swift and then to my card. Withdraw without problems.
Nowadays the license only says that the broker has the right to jack up the spreads and... to run an active advertising campaign.
I also withdrew $50k to webmoney in 2011. The broker called and asked if I wanted to withdraw to the bank and after my explanations he asked for a few days to collect the amount in wmz. Which I got.
50K profit? or 50K of your original?
50K profit? Or 50K of your original?
Profit. The investment was $200-300. Got up to 50K in two months, not much. I don't start with more than that. Rarely with 500.
In 2013 or 2014 I was not paid $46k. They justified it by the fact that I was trading with an advisor on an account which was not designed for automatic trading and where robot trading was disabled.
At the same time they had a license and an office in Moscow.
Profits. The investment was $200-300. I got up to 50k in two months. I don't start with more than that. Rarely with 500.
In 2013 or 2014 I was not paid $46k. They justified it by the fact that I was trading with an EA on an account which was not designed for automated trading and where robot trading was disabled.
They had a license and an office in Moscow.
Does it still exist now (I mean the one that paid out)? Or is it ruined by people like you?
And the second broker, which paid out 9k this year and 6k last year, is working and doing well. Because the business model is correct.