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

Fortrade | 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 Limited
Score
8.12
Website:https://www.fortrade.com/
10-15 years | Regulated in Australia | Regulated in United Kingdom | Regulated in Cyprus
Score
8.12

Read more

New SEBI Regulations on Intraday Trading

The Securities and Exchange Board of India (SEBI) has implemented revised regulations on Intraday trading, with effect from November 20, 2024. These regulations are meant to lessen risks and prevent speculative trading practices.

Original 2025-06-06 19:26

A Guide to Intraday Forex Trading You Can't Miss Out

Intraday trading where everything happens in a day fascinates millions around India and worldwide. The drama, the hype, and the ups and downs resulting from those are nothing short of an adventure. Read this guide to ace the forex intraday trading game.

Industry 2025-06-06 18:15

Top Forex Trading Strategies Every Trader Must Implement

Successfully navigating the fluctuating forex market landscape requires more than having a high-risk appetite. It requires effective strategies that assure you gains even during the market fall. Let’s go through the strategies many traders implement to gain.

Original 2025-06-06 16:58

Errante Launches Deposit Bonus Offers with Rewards Up to $2,000

Errante has introduced a new deposit bonus promotion for first-time clients. Under this offer, eligible traders can receive a bonus of up to 30% on their initial deposit, with a maximum bonus amount capped at USD 2,000.

Original 2025-06-06 16:47

WikiFX Express

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

WikiFX Broker

FXTM

FXTM

Regulated
Exness

Exness

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
GMI

GMI

Regulated
GTCFX

GTCFX

Regulated
FXTM

FXTM

Regulated
Exness

Exness

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
GMI

GMI

Regulated
GTCFX

GTCFX

Regulated

WikiFX Broker

FXTM

FXTM

Regulated
Exness

Exness

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
GMI

GMI

Regulated
GTCFX

GTCFX

Regulated
FXTM

FXTM

Regulated
Exness

Exness

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
GMI

GMI

Regulated
GTCFX

GTCFX

Regulated

Latest News

ASIC Urges Financial Licensees to Fix Register Errors Before 2026 Deadline

WikiFX
2025-06-04 11:51

eToro Review 2025: Top Trading Opportunities or Hidden Risks?

WikiFX
2025-06-04 18:14

How much money will you earn by investing in Vantage Broker?

WikiFX
2025-06-05 14:15

IronFX vs Exness Review 2025: Comprehensive Broker Comparison

WikiFX
2025-06-05 16:31

Fraudsters Are Targeting Interactive Brokers' Users with Lookalike Emails

WikiFX
2025-06-05 17:34

Top Tips to Choose the Best Forex Broker in 2025

WikiFX
2025-06-05 19:31

SEBI Notifies New F&O Rules for Investors - New Derivative Trading Limits & More Amendments

WikiFX
2025-06-05 17:29

Interactive Brokers: Global Office Visits and Licensing Details

WikiFX
2025-06-05 17:37

U.S. Jobs Data Released: A Potential Boost for Gold Prices

WikiFX
2025-06-05 21:48

Everything you need to know about ADSS

WikiFX
2025-06-05 16:55

Rate Calc

USD
CNY
Current Rate: 0

Amount

USD

Available

CNY
Calculate

You may also like

finamfx

finamfx

Bit Financial

Bit Financial

ATG WORLD GROUP

ATG WORLD GROUP

FORMONIX

FORMONIX

Maxis investments

Maxis investments

Aure

Aure

OBEX

OBEX

MetaInvesting

MetaInvesting

Lear Capital

Lear Capital

Fortex

Fortex