Capital.com is opening its service to Russia and CIS residents in order to support an increasing client base and cater to demand for online trading services in the region.
The addition of support to Russian clients meets the firm’s commitment to develop a strong web presence with a local approach to serve its clients in this jurisdiction. This includes its machine learning technology, which the company says it can improve traders’ capabilities by monitoring their activity for cognitive biases.
In addition, the delivery of a trading environment to the CIS market goes hand in hand with the company’s overall strategy to expand in the region, one of the largest markets for Capital.com.
“We are proud to open access to our platform for traders from the CIS countries and set ourselves the task of providing customers with the best trading conditions in the world. Fast execution of orders, powerful analytical tools and an impeccable reputation are only part of what we are ready to offer our customers,” said Ivan Govan, CEO of Capital.com
The move, however, is probably raising questions when Russian restrictions on FX industry are concerned. Most of foreign exchange dealers operating in the country saw their licenses revoked last year. The list includes , Forex Club, Fix Trade, Trustforex, and Teletrade Group.
The official reasons behind the move was that brokers had been using aggressive advertising to lure Russian clients, providing false accounting data, mishandling risks and moving clients’ money offshore, among other violations.
A mobile, AI-focused brokerage firm
Obviously, Capital.com will offer services to the Russian market through its Belarus regulated brand. The company, which is operating globally via its Cyprus license, acquired the new permit at a time is continuously growing with new players.
Of note, the Cyprus Securities and Exchange Commission requires all authorized CIFs to fully . As such, Capital.com’s Cyprus subsidiary will need to notify CySEC before it can provide its services in Russia or any other countries and is also required to first get appropriate authorisation from the relevant regulatory authorities.
Capital.com is a mobile, CFD-focused brokerage firm which is operated by Capital Com SV Investments Limited, regulated by the Cyprus Securities and Exchange Commission (CySEC).
The firm also says that its apps leverage advanced to deliver trading-related content in a personalized way. Capital.com’s team are also planning to roll out more advanced new AI features in the near future.
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