Trading with Russian brokers

Today, at wikifx, we will be discussing trading environments and key facts about forex trading in Russia.

A handful of Russian brokers are based in Russia and they are serving both domestic as well as overseas clients. For the Russian traders, it is not mandatory to deal with only local Russian brokers.

They can open an account with international brokers too that are able to serve Russian traders.

There are many reputable international brokers with regulation with major EU economies like the UK and Germany, that are able to offer Russian traders stocks, Forex, CFD and commodities trading.

Selecting Russia brokers for ether domestic clients or foreign clients, the first thing to look for is their regulatory license. Confirm that the brokers are well regulated either by the CBR or by the local jurisdiction.

This will ensure your deposited funds are safe and secure, and your account is in the right hands

In 1991 the Soviet Union collapsed, bringing to end the centralized government as well as the economy after about 69 years. This affected the Russian financial sector badly.

Over the last 30 years, amid a few disruptions due to trade sanctions, the country has emerged as a vibrant and viable place for traders.

Moscow Exchange (MOEX) is the primary stock exchange here. Prior to 2011, it was called the Russian Trading System (RTS).

MOEX was founded with the merging of RTS and the Moscow Interbank Currency Exchange (MICEX).

It is equipped with RTS Index and MOEX Russia Index. Bank of Russia (CBR) is the primary regulatory body and all the Russia brokers abide by its enforced laws.

Rouble or ruble (RUB) is the national currency used in Russia and most of the Russian brokers dealing with foreign traders appreciate accepting it.

• Russian trading benefits

Russia is a vast country and most of its population live in urban areas. In terms of GDP, its economy ranks in the top 20 lists of International Monetary Fund (IMF) and with respect to purchasing power parity (PPP) it is one of the 10th in the world. Hence, it offers good opportunities for investors.

Russia has sophisticated consumers and an educated workforce. It is a high-income nation and many large well established Russian corporations. The country has strong logistics and transport links.

World Bank has ranked Russia 31st with respect to ease of doing business and 12th for registering property and things like getting electricity.

• Russia Trading challenges

Russia's top trading partners are China, Belarus, Netherlands, Italy and Germany. As the country is facing sanctions from the United State and European Union, it has applied counter sanctions that has resulted adversely on agricultural exports.

Russia is a net exporter and so trade tariffs or trade wars in the partner countries may affect its economy hard.

The World Bank has ranked the country 99th in respect to trading across borders. The country is also not favorable in resolving insolvencies, paying taxes and protecting minority investors.

Trading the financial markets with Russian Brokers when conditions are volatile can be difficult, even for experienced traders.

Apart from the educational and other resources made available online, another important factor for traders to consider when looking for Russian Brokers is the platform that a Russian Brokers offer.

Choose Russian Brokers that's at the forefront of innovation and generally considered an industry-leader.

To gain access to the financial markets, you'll need Russian Brokers that you can rely on. WIKIFXs system will help you find the right broker, check ratings and overall success rate.

• Factors to consider while choosing a Russian broker

Look for a broker that has a good track record/longevity in the market so that your strategy is your primary concern for navigating the markets. The top rated Russian broker is XTB. Established in 2002, and in operation for 16 years XTB have a head office in Poland.

XTB is regulated. This means XTB are supervised by and is checked for conduct by Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG) regulatory bodies.

Another top rated broker is IC Markets.

IC Markets was established 2007, and in operation for 12 years IC Markets have a head office in Australia.

IC Markets is regulated. This means IC Markets are supervised by and is checked for conduct by Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG) regulatorybodies.

When choosing a broker, contact WikiFX, here you will find the most reliable broker, because WikiFX scores are independent and fair!

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