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TeleTrade, one of the licensed Russian forex brokers, said it is changing the trading conditions for all instruments on the Standard Accounts.
Starting from July 17, the prices will be formed on the market ask and bid prices, with no intermediaries. This means the spreads on the Standard Accounts will become floating and changing independently of each other.
Additionally, TeleTrade will make the quotes for forex instruments more precise – from 2/4 digits to 3/5 digits after decimal point. This, according to the broker, will provide narrower spreads for the Standard Accounts than before. The Instant Execution of trading transactions on Standard Accounts will remain.
The TeleTrade brokerage group offers trading in forex and CFDs on commodities, stocks, futures and currencies. It is present in 26 countries worldwide and in 2015 was the third largest retail forex service provider in Russia by trading volume with an average monthly volume of $45 billion (according to a report by Interfax-CEA).
The TeleTrade group has forex licenses in Russia, Belarus and the Cyprus Securities and Exchange Commission.
According to recent data, in the end of 2016, TeleTrade had 500 000 clients.