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Alpari Eurasia, a unit of the international forex brokerage Alpari, has successfully passed the tests of the Belorussian Currency and Stock Exchange, which acts as the National Forex Center, and has officially launched operations as a forex broker in Belarus, said Alpari.
We remind you that in June Alpari Eurasia was registered by Belarus’ central bank as a forex broker. In order to gain the regulator’s approval the company had to have a capital of at least USD 100 000 and to make a contribution of no less than USD 55 000 to the guarantee fund of the National Forex Center.
Alpari Eurasia was set up this spring in order to take operations of Alpari’s business in Belarus, where the company has been present since 2010.
In its statement Alpari notes that the forex regulation in Belarus is one of the most “sensibly regulated forex markets, compared to other former Soviet Union countries and Western Europe” and is very lucrative both for traders and forex brokers. For example, under the current regulation any gains from forex trading are exempt from taxation until January 1, 2019, while the guarantee fund minimizes the risk of total loss of investments.
So far the Belarus National Bank has approved six forex brokers: Alpari, Open Investments, Gerchik & Co, TeleTradeBel, FTM Brokers and Forex Club.
Alpari has offices in Russia, Belize, Saint Vincent and the Grenadines, two offices in Mauritius, and the UAE. The group consists of Alpari-Broker (Russia), Alpari Ltd. (Saint Vincent and the Grenadines), Alpari International Ltd. (Mauritius), Alpari Ltd. (Belize), and Alpari Forex (Russia). The broker is licensed by the financial markets authorities of Belize, United Arab Emirates and Belarus.