The FinancialApproved broker member, RoboForex recently announced the launch of operations within Belarus to service residents of the Republic of Belarus by opening a local office.
In April 2019 the company, which provides services under RoboForex brand in Belarus, received certificate No. 15 of the National Bank of the Republic of Belarus. The company is listed in the forex companies register in accordance with the country’s current legislation. A month later, the registered company became an official member of the The Association for the Development of Financial Market.
The Belarusian FX license is an interesting alternative to Russia’s Central Bank license in that it applies some of the common principles of market regulation found in western countries, such as in Europe, but satisfies local regulations with respect to belorussian residents.
It is however, still unclear how a foreign broker, headquartered elsewhere in Europe can take full advantage of the revenue generated from a Belorussian affiliate due to the Belarus’ restrictions on sending corporate profits abroad.