FAQ

Forex dealer is a professional participant in the securities market, which has a license of the Bank of Russia to carry out the activities of a forex dealer.

The activity of a forex dealer, carried out on the territory of the Russian Federation on the basis of a corresponding license of the Bank of Russia, is recognized as the activity of a professional participant in the securities market. Supervision of the activities of forex dealers is carried out by the Bank of Russia.

The list of professional securities market participants licensed to operate a forex dealer can be found on the Bank of Russia official website in the section "Securities Market and Commodity Market - Professional Securities Market Participants"

Forex-dealer on its website is required to disclose the following information:

• Full and abbreviated name of forex dealer;
• Address of TIN location, telephone / fax number, e-mail address. Mail forex-dealer;
• Name of the Director General of the forex dealer;
• License of a professional participant of the securities market to carry out the activities of a forex dealer;
• Annual financial statements and auditor's report of a forex dealer;
• Intermediate accounting (financial) reporting of a forex dealer;
• A list of branches and representative offices and other separate divisions of the forex dealer (name, address, telephone, fax);
• Information on the amount of own funds forex-dealer; Information on suspension of a forex dealer license (if any);
• Information on the renewal of the license (in the event that there was a fact of suspension of the license);
• Information about technical failures in automated forex dealer systems (if any);
• Information on the resumption of the operability of automated forex dealer systems after failures; Information on significant litigation;
• The procedure and conditions for determining by the forex dealer the quotations for which separate contracts are concluded;
• Quarterly report on the consolidated financial results received by individuals, on contracts concluded with a forex dealer, indicating the ratio of the number of accounts with a negative financial result, to the number of accounts with a positive financial result;
• Notification of risks arising from the conclusion, execution and termination of contracts with a forex dealer;
• Registered by a self-regulating organization in the financial market, uniting forex-dealers the text of the framework agreement, as well as the procedure for concluding separate contracts;
• Certificate of a member of a self-regulatory organization in the financial market, uniting forex dealers, the Association of Forex Dealers;
• Information on the basic standards of a self-regulatory organization in the financial market, uniting forex dealers, the Association of Forex Dealers;
• Information on the credit organization in which the nominal account of a forex dealer is opened, indicating the details of the nominal account;
• Information about the employees of the forex dealer.

With the register of members of a self-regulatory organization in the financial market, uniting forex-dealers, the Association of Forex-dealers can be found here.

A forex dealer can be a natural person who is not an individual entrepreneur, a broker or a manager acting at the expense of an individual who is not an individual entrepreneur.

In order to become a client of a forex dealer you need:

1. Choose a forex dealer and make sure you have a license of the Bank of Russia.
2. Sign a framework agreement with a forex dealer.
3. Get the details of the nominal account for the client, opened by a forex dealer.

The framework contract is concluded between the forex dealer and the client and defines the general terms of the obligatory relations, which are specified by the parties in separate contracts, concluded by placing quotations on the forex dealer and submitting applications on the basis of and pursuant to the framework agreement

A nominal account is an account opened by a forex dealer in a credit institution located in the territory of the Russian Federation to perform transactions with money, the rights to which belong to the clients of the forex dealer.

Organizations associated with foreign finances and positioning themselves as forex dealers, while not having the appropriate license. Thus, entering into contractual relations with accessible organizations, citizens assume the risk of impossibility to protect their rights and legitimate interests on the territory of the Russian Federation.