The National Bank of the Ukraine released NBU Board Resolution No. 327 on August 3, which established a legal framework for the provision of services related to the arbitrage transactions conducted under the terms of margin trading to individuals.
The information was released due to the frequent claims filed by citizens concerning problems arising when arbitrage transactions are carried out under the terms of margin trading through forex companies.
The resolution gives authorized banks the exclusive rights to conduct the arbitrage transactions under the terms of margin trading.
Citizens, however, are encouraged to use the services of reliable and authorized banks instead of unreliable companies and forex clubs. Unlike banks, most forex clubs operate as firms rendering consulting services and such companies are not held financially or legally accountable.
Forex companies may look attractive to citizens as they have a simplified procedure of opening accounts and they lack financial monitoring and tax free income. These companies, however, do come with their own risks. Banks offer more transparency and conduct arbitrage transaction under the terms of margin trading.
- BALTIC INTERNATIONAL BANK - UKRAINE: Baltic International Bank’s Opening Hours on 18 November 2019
- BNP PARIBAS - UKRAINE: Break of UKRSIBBANK Payment Cards , ATMS and POS Terminal
- ANELIK BANK - ARMENIA: IDBank has 13 new employees
- ARMSWISSBANK - ARMENIA: ArmSwissBank Made Coupon Payments of Corporate Bonds
- BNP PARIBAS - UKRAINE: UKRSIBBANK Provides Seminars and Trainings within the Women in Business Program
- BALTIC INTERNATIONAL BANK - UKRAINE: Baltic International Bank supports Stockholm School of Economics in Riga
- EUROPEAN PARLIAMENT-NEWS: End-of-term assessment for the Juncker Commission
- EURASIAN DEVELOPMENT BANK: A meeting of the delegation of the Eurasian Fund for Stabilization and Development with the World Bank team
- NIKOIL - RUSSIA: URALSIB Bank took 15th place among banks in the RAEX-600 rating
- PRAVEX BAANK - UKRAINE: PRAVEX BANK joins EBRD Trade Facilitation Program to support foreign economic activity of Ukrainian exporters and importers