OREANDA-NEWS The Bank of Russia revoked the licenses of the five largest Russian Forex dealers "Forex club", "Fixed trade", "Trastforeks", "Alpari Forex" "Broker group". It is reported by the Central Bank.

Licenses will be cancelled from 27 January 2019.

The reason for the deprivation of licenses were repeated violations during the year, namely: non-fulfillment or improper execution of the Central Bank's orders; violation of the order of internal accounting; violation of the requirements for the ratio of the amount of security provided by individuals to the company; violation of the order of reporting and provision of inaccurate reporting; violation of the organization of the risk management system; violation of the order of calculating the size of own funds; disclosure of inaccurate information on the company's website.

The "Fix Trade" license was cancelled due to violation of the information disclosure procedure on the dealer's website and licensing requirements, as well as due to improper organization of the risk management system. The regulator also cancelled qualification certificates of the Director General of "Fixed Trade" Dmitry Savchenko and his Deputy Sergei Shivaldova. "Trastforeks" and "Alpari Forex", the Central Bank has filed similar claims and revoked certificates CEOs Igor Dinesa and Guzel Mirzaeva and Deputy Dmitry Rozhdestvensky and Natalia Maximova.

So, the Central Bank canceled the qualification certificates of inspectors and General Directors of these companies.

The company must cease all professional activity on the securities market, with the exception of the actions related to termination of obligations to customers arising out of the exercise of professional activities on the securities market and to ensure the return of property to customers in the period up to 27 January.

Thus, the Central Bank revoked the license of five of the nine Russian Forex dealers. The market remained: "Alfa-Forex", "VTB-Forex", "PSB-Forex" and "Finam-Forex".