Reason for this visit

Russia-Ukraine conflict continues to worsen, while Russia keeps a “close” relationship with Belarus. At present, plenty of forex investors are deeply concerned about the current situation of forex brokers in Belarus for the upgrading of the war is likely to have an adverse effect on Belarus. In order to help investors or practitioners have a more comprehensive understanding of foreign exchange brokers in Belarus, WikiFX survey team is going to pay on-site visits to the local companies.

On-site visit

In this issue, the investigation team went to Minsk, capital and the largest city of Belarus, to visit forex broker TradeClan (licensee: Limited Liability Company “TradeClan International” (LLC “TradeClan International”)) as planned according to its registered regulatory address that 220116, Minsk, Dzerzhinsky Avenue, 104a, Office 1401.

The survey personnel came to the destination at 104a, Dzerzhinsky Avenue on July 20, 2023. A magnificent modern office building was decorated with glass curtain façade which looked immaculate. A giant department store was situated on the ground floor teeming with people. There were many vehicles parked in front of the building surrounded by a clean environment.

After entering the building, the investigators got to know that people weren‘t allowed to pay a special visit to the working area upstairs without an access card due to stringent security reasons, and finally were permitted to visit broker TradeClan on the heels of showing the intention. The whole 8th floor was rented by the company as their office, instead of room 1401. There were about 5-6 rooms with around 20-30 cubicles in the office, where no employee was working as the computers weren’t opened.

Through an on-site investigation, it is confirmed that the company does have a physical presence at the location.

Conclusion

The investigators went to Minsk, Belarus to visit forex broker TradeClan as scheduled, and found the company at its regulatory address. It indicates that the broker has a physical business office at the place. Meanwhile, investors are advised to make a sensible choice based on a comprehensive consideration.

Disclaimer

The content is used for informational purpose only, and shall not be taken as a final order for making a choice.