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Additional FAQ

Which brokers can operate legally in Russia?

Alfa Forex owns dual licenses from Central Bank of Russia as well as CySEC. Therefore, they have sufficient legal background and compliant with the rules of client protection.
FINAM facilitates trading for several asset classes, including forex, shares, bonds, options, and futures, aside from banking.
VTB Forex proclaimed itself as the leader of forex market in Russia. The broker facilitates trading on 24 currency pairs (including rubles) through Metatrader5 with minimum transaction of 0.5 lot and maximum leverage 1:40.

Continue Reading at Best Forex Brokers in Russia

How do Dealing Desk brokers operate?

A Dealing Desk broker sets both the bid and asks prices on their systems and makes transactions at these prices with their clients. By doing so, the broker acts as the liquidity provider of the market.

This broker type is also sometimes called a B Book broker. To generate income, Dealing Desk brokers would charge spread to their customers. Spread is the difference between the ask and bid price and is often fixed by the market maker.

Usually the spread amount is usually quite reasonable due to tough competition with other market makers.

Continue Reading at 5 Signs Your Broker Trades Against You

Why is customer service considered a benchmark for a good broker?

Scam brokers never truly care about their clients because their aim is only to attract as many clients as possible, steal their fortune, and get away with their crimes.

Thus, you need to check the broker's reliability by testing their customer service. You can simply ask them a few questions before registering and see how they respond. If they take too long to answer or are unhelpful, you might want to move to another broker.

Continue Reading at How to Ensure Your Broker is Trustworthy

What are brokers operating under ESMA?

Many forex brokers are imposed to ESMA's new rules as most popular brokers come from the European Area. Many of them have been working with multiple licenses to maintain their global operation. Some examples are: