Belarus blocks websites of non-registered forex brokers, including MTrading, Weltrade

Belarus blocks websites of non-registered forex brokers, including MTrading, Weltrade

- in All News, Forex Brokers, Regulation
Belarus

Belarus’ Ministry of Information has blocked the access to several websites that offer forex trading and that are not included in the register of the National Bank of the Republic of Belarus (NBRB), the regulator of the country’s forex market, Belarusian self-regulatory body Association for financial market development (ARFIN) said on Monday.

Among the websites that have been blocked as such operated by renowned brokers MTrading and Weltrade. Following is the full list of forex websites that are not accessible in Belarus:

  • dengi-srochno.by
  • dengi-bystro.by
  • zaem-vsem.by
  • fxline.by
  • landing.fxline.by
  • streamforex.by
  • weltrade.ru
  • by.weltrade.com
  • stforex.com
  • ru.mtrading.com
  • mtrading.by

The above-listed websites have been promoting investment services to Belarusians, but are not authorized to do so. Inclusion in the NBRB register is the equivalent of receiving an authorization. Forex brokers that are not registered are not allowed to provide  forex trading services in Belarus or advertise such services to local citizens.

There are six entities registered in Belarus as forex service providers. The rest are Open Investments, Forex Club, TeleTradeBel, FTM Brokers, Alpari Eurasia, and Gerchik&Co. Another broker, MTBankFX, a subsidiary of Belarusian lender MTBank, is in the process of applying for a NBRB registration.

Belarus NBRB register

As of 2016, Belarus requires forex brokers to be registered with the NBRB and to comply with certain forex software requirements in order to operate in the country. In addition, the Belarusian Currency Stock Exchange (BCSE), which acts as a National Forex Center (NFC), tests brokers’ software to see if they can correctly report to the central bank and to the NFC.

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