Recently, the Central Bank of the Russian Federation presented a black list of brokers, which included more than 500 unlicensed companies. As a result of active actions of the regulator, the activities of almost all foreign OTC firms were banned. In addition, the Central Bank called on large payment services to abandon cooperation with unlicensed forex brokers.
Under the close supervision of the mega-regulator, it is difficult for the remaining brokers to use the potential of the Russian market. Licensed forex dealers began to look for new approaches to work, one of which was the partner model of attracting clients. For the first time this option was tried by the Alfa-Forex company in 2019. As a result, its operating indicators began to rise.
In March 2021, news appeared about VTB’s intentions to follow in the footsteps of Alfa-Forex. The company is in talks with another licensed dealer, Alpari, to enter into a partnership agreement. As a result of the deal, a well-known brand will refer potential clients to VTB under certain conditions.
“As a state-owned forex dealer (VTB Forex), we strive to organize socially responsible Forex. For their part, licensed forex dealers began to offer an agency scheme, the essence of which boils down to ensuring that the client has the opportunity to return to their home harbor, ”said representatives of VTB Forex.