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The Russian central bank has just published a communique on its website which outlines that Alpari and Forex Club have been denied a license. No further information on the reasoning of the decision has been provided, with the brokers awaiting for an answer from the mega-regulator for over 6 months.
Two of the biggest brokerages in the country as per the survey by Interfax have not been able to meet the requirements of the authorities. With Alpari being established all the way back in 1998 as one of the pioneers in the industry in Russia, the decision by the central bank ... (read more)