Home -
Exposure -
Main body -

WikiFX Express

Exness
EC Markets
TMGM
XM
FOREX.com
FXTM
AvaTrade
FXCM
IC Markets Global
Eightcap

Fortrade Lost its Belarus License

WikiFX | 2024-01-05 17:29

Abstract:Fortrade, a London-based retail broker, has recently faced significant regulatory changes in the Belarusian financial market, causing ripples in its operations and raising questions about its authorization status.

文章头图 1200x628.jpg

Fortrade, a retail broker based in London, recently lost its authorization in Belarus, five and a half years after initially receiving it. This update came from the regulatory registry of the Republic of Belarus. Fortrade had operated in Belarus through its local subsidiary, LLC Fort Securities BLR, gaining authorization in April 2018 and emerging as a market leader by 2020 in terms of open positions and trading volumes.

The removal of Fortrade's operator name from the Belarusian register has raised questions, as the exact reason behind this action remains undisclosed. Intriguingly, the international version of their website still lists Belarus authorization as active. According to Finance Magnates, to date, no comments were provided by Fortrade regarding this matter.

1.jpg

Established in 2013, the Fortrade brand extends forex and contracts for differences (CFDs) trading services globally, holding authorizations from regulators in several countries, including the United Kingdom, Canada, Australia, Cyprus, and Mauritius. However, despite a 14.1 percent revenue increase to £32.3 million in the fiscal year 2022, the group experienced a decline in profits.

2.png

Belarus was once envisioned as an emerging financial centre in Eastern Europe, but its market continued to dwindle, failing to meet initial promises. Over the past year, the Belarusian over-the-counter Forex market witnessed the departure of seven participants amid the ongoing Russia-Ukraine conflict. Western sanctions on Belarus due to its ties with Russia have further compelled international players like Robo Forex, Saxo Bank, and EXMO.com to cease operations in the country.

Presently, Belarus hosts nine licensed OTC forex participants after Fortrade lost its license, excluding OpenFX, which ceased operations but remains registered. Since implementing regulations for OTC forex, Belarus has granted authorization to 32 companies. However, 23 of these entities have departed from the country for various reasons over time.

3.jpeg
BrokerForex tradingForex BrokerForex newsforex market

Related broker

Regulated
Fortrade
Company name:Fortrade Ltd
Score
8.13
Website:https://www.fortrade.com/
10-15 years | Regulated in Australia | Regulated in United Kingdom | Regulated in Cyprus
Score
8.13

Read more

Are Trading Courses and Mentors a Fast Track or a Financial Trap?

In recent years, trading has become more popular than ever. Social media is full of people showing off their “trading lifestyle” with expensive cars, luxury holidays, and promises of easy money. Many of them claim to be mentors, investment coaches, or run online trading academies. They say they can turn beginners into full-time traders in just a few weeks. But is it true, or is it just a clever scam?

Original 2025-06-28 08:00

Gold Prices Pull Back, Near Four-Week Low Amid Easing Risk Sentiment

As risk aversion fades and investors turn their attention to U.S. inflation data, gold prices retreat sharply, falling to their lowest levels in nearly a month.

Original 2025-06-27 20:23

Using Any of These Illegal Forex Trading Apps? Stop Before It Turns into a Crisis

The Reserve Bank of India (RBI) has listed out some illegal forex apps India. Read this article to know some of those apps.

Original 2025-06-27 19:58

IC Markets Sponsors AEL Limassol, Football Club Until 2027

AEL Limassol has renewed its deal with IC Markets (EU) Ltd, who will stay as the team’s Gold Sponsor until 2027. The sponsorship deal was first announced for the 2025–2026 season, but it has now been officially extended until 2027.

Original 2025-06-27 19:03

WikiFX Express

Exness
EC Markets
TMGM
XM
FOREX.com
FXTM
AvaTrade
FXCM
IC Markets Global
Eightcap

WikiFX Broker

FXTM

FXTM

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
Blueberry Markets

Blueberry Markets

Regulated
Exness

Exness

Regulated
HTFX

HTFX

Regulated
FXTM

FXTM

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
Blueberry Markets

Blueberry Markets

Regulated
Exness

Exness

Regulated
HTFX

HTFX

Regulated

WikiFX Broker

FXTM

FXTM

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
Blueberry Markets

Blueberry Markets

Regulated
Exness

Exness

Regulated
HTFX

HTFX

Regulated
FXTM

FXTM

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
Blueberry Markets

Blueberry Markets

Regulated
Exness

Exness

Regulated
HTFX

HTFX

Regulated

Latest News

The Shame of Being Scammed: Don't Ever Stay Silent

WikiFX
2025-06-27 10:00

Citibank Sued in $20M Romance Scam Tied to Fraudulent Transfers

WikiFX
2025-06-27 16:36

Treasury yields inch higher as investors await the Fed's preferred inflation print

WikiFX
2025-06-27 10:24

Capital.com Launches $1 Million EU Client Insurance to Enhance Investor Safety

WikiFX
2025-06-27 16:07

The five most investment-risky brokers in Malaysia

WikiFX
2025-06-27 16:20

Think Before You Trade! Unlicensed Brokers List Inside

WikiFX
2025-06-27 18:55

IC Markets Sponsors AEL Limassol, Football Club Until 2027

WikiFX
2025-06-27 19:03

5 Reasons to Stay Away from Core Prime Markets

WikiFX
2025-06-27 18:59

Core inflation rate rose to 2.7% in May, more than expected, Feds preferred gauge shows

WikiFX
2025-06-27 20:35

Core inflation rate rose to 2.7% in May, more than expected, Fed's preferred gauge shows

WikiFX
2025-06-27 13:35

Rate Calc

USD
CNY
Current Rate: 0

Amount

USD

Available

CNY
Calculate

You may also like

KENKE CAPITAL

KENKE CAPITAL

Fxtradeindex

Fxtradeindex

Matrix Banco

Matrix Banco

Medco Finance Limited

Medco Finance Limited

Lifesecuredtrades

Lifesecuredtrades

MJK-ahs

MJK-ahs

IFC

IFC

KoinFX Trade

KoinFX Trade

G. H. Financials

G. H. Financials

eFX markets

eFX markets