B2Prime is the first Forex Prime broker to become a registered broker in Belarus, which is supported by the technological brokerage firm B2Broker. They were approved as a regulated Forex broker in Belarus, with the ability to provide financial services in Belarus. The FX company has managed to meet all the necessary requirements that were needed for a license in Belarus.
B2Prime as a Forex Prime Broker
The Forex broker offers an array of financial services to traders of all fields of experience. B2Prime, the first Forex Prime broker provides brokerages services on over 800 trading instruments, including but not limited to: metals, Forex services, indices, and shares.
In addition to becoming the first Forex Prime broker, the national bank of Belarus has added B2Prime to the list of registered Forex firms.
Regardless of the giant leap of success, B2Prime still has to achieve certain aspects before the financial service provider can be permitted to be fully functional. According to the national bank of Belarus, the Belarus Bank, earning a license is the first step. The next step is for the Bank to evaluate the trading platform of B2Prime and assess its steadiness to begin operating. The company will have to go through assessment from the Belarus National Forex Center.
What Are The Obligations to Be a Regulated FX Broker?
In order for a Forex broker to be regulated, there is a minimum fiscal requirement that is necessary for any Forex company, if they want to commence operations in the country. For any Forex Prime broker that wants to be registered, there must an amount of fifty thousand dollars to be able to compensate for any negative financial exposure. Despite the minimum requirements for deposit, Forex brokers must meet the minimum requirements for capital. There must be at least one-hundred thousand dollars, or 2Bn BYR, before they can receive a full license.
The third financial obligation is for the Forex broker is to become a member of the Financial Market Development (ARFIN), in Belarus. Forex Prime brokers are that they must be accepted to integrate a local financial entity as they start business operations in Belarus. The aforementioned regulations are the most demanding requirements that the licenses Forex broker must follow; there are others that are slightly less demanding.
However, it is obvious in the foreseeable future that B2Prime will be a fully operational financial services provider that will be available for all FX traders in Belarus.