On activity of companies rendering services in OTC Forex market

In order to protect the rights and legitimate interests of financial service customers, the Bank of Russia informs of the cases of unscrupulous conduct of organisations offering services in the OTC Forex market.

In particular, some of these companies claim in their advertisements and information posted on their Internet websites that their activity as Forex dealers is supervised by the Bank of Russia.

In this regard, the Bank of Russia communicates that there is currently no legislative regulation of the OTC Forex market and the activity of Forex dealers is not licenced. The Bank of Russia does not exercise control and supervision over such companies marketed as self-regulatory organisations.

Information on Bank of Russia control over these companies and organisations is incorrect and misleads financial service customers.

The Bank of Russia advises the citizens to be prudent when deciding to enter into agreement with companies rendering services in the OTC Forex market.

The reference to the Press Service is mandatory if you intend to use this material.

01.12.2014 00.00.00