Russian Promsvyazbank Acquires Forex Broker License

[kreslik.news]

Russian privately owned company Promsvyazbank became the third commercial bank to enter the retail forex market in the country, as was first published on Finance Magnates Russia. The firm’s subsidiary PSB-Forex just got approved by the Bank of Russia to become the 8th brokerage that is officially authorized to operated in Russia.

After FINAM and VTB 24 have shown interest in the retail forex market, a third commercial bank is entering the field just days before the enactment of the new regulatory framework. Every company that has acquired a license from the Bank of Russia also needs to be ... (read more)