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Forex Club, Alpari, Teletrade continue to work after their licenses revoked

Alpari-Forex has not yet received official notification from the Russian Central Bank about revoked license

MOSCOW, December 27. /TASS/. Forex dealers Alpari Forex, Teletrade Group and Forex Club continue to work, despite revoked licenses, which was announced earlier by the Russian Central Bank of the Russian Federation, the companies told TASS.

Alpari-Forex has not yet received official notification from the Russian Central Bank about revoked license and continues to work, a representative of the company told TASS. According to the representative, the company has 1,000 clients in Russia, their funds are protected in accordance with the Russian legislation.

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Russia’s Central Bank revokes licenses of largest forex platforms

There have been no serious criticism about the company’s operations, since the company was founded in June 2017, the company’s representative told TASS. "This is unexpected information. We have not yet received an official notification from the Central Bank and from the self-regulatory organization, the Association of Forex Dealers, accredited by the Central Bank. So far, we continue to work," the representative said.

Forex Club did not receive official notification about revocation of license from the Russian Central Bank and continues to work normally, the company told TASS. At the same time, the company added that the dealer did not receive official notifications about the revocation of the license and, thus cannot comment on future actions of the company.

Forex dealer Teletrade Group said that the news about the Russian Central Bank revoking their license came as a "complete surprise" for the company.

"This is very strange and completely unexpected. Yesterday, representatives of the Central Bank participated in the financial market committee in the State Duma. All forex dealers were there and discussed the prospects of this market. Therefore, for us this is a complete surprise," the company’s press service told TASS.

It was reported earlier that the Russian Central Bank revoked licenses of five largest Russian forex dealers - Forex Club, Fix Trade, Trustforex, Alpari Forex and Teletrade Group. Licenses are revoked starting from January 27, 2019.

At the same time, the Central Bank canceled qualification certificates of supervisors and general directors of these companies.

Thus, the Central Bank revoked licenses of five out of the nine Russian forex dealers. Alfa-forex, VTB-forex, PSB-forex and Finam-forex remained on the market.

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