Weltrade leaves Belarusian self-regulatory body ARFIN

Weltrade leaves Belarusian self-regulatory body ARFIN

Weltrade

The offshore forex broker Weltrade has left the Association for financial market development (ARFIN) – the Belarusian self-regulatory body. According to the laconic statement on ARFIN’s website, this happened on May 11, but no other details were provided.

Weltrade became a member of the organization in December 2015 and lasted there less than six months. Another major player on the Belarusian forex broker market – Alpari – left ARFIN in the end of last December.

With Weltrade leaving the association, it has three members left – Forex Club, TeleTrade and the Belize-based broker Gerchik & CO, which has offices in Belarus, Russia and Ukraine.

Two of them already got their forex broker licenses from Belarusian National Bank – the former in April and the latter – last week, while Weltrade still has not applied for a license.

Weltrade is regulated by the Belize International Financial Services Commission (IFSC) since December 2015. Weltrade is a trading name of Systemgates Capital, but in Belarus is operated by the company ArtBusinessInvest.

The broker offers trading in forex, precious metals and contracts for difference (CFDs). The professional account provides trade in 35 currency pairs, gold, silver, platinum, palladium, two grades of oil, CFDs on stock indices, like for example S&P 500, Dow Jones, etc. and +5% annual interest on free margin. Trade can be carried out on the MetaTrader 4 platform.

Weltrade has been operating on the forex market for nine years. It has four representative offices – in Russia, Ukraine, Belarus and Thailand and 126 regional partners.

Most recently Weltrade announced it is increasing the volume of a single order to a maximum 100 lots and is raising the maximum leverage to 1:1000.

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