Reason for this visit

As the Russia-Ukraine conflict continues to worsen, the West has imposed sanctions on Russia, resulting in decrease in forex trading volume of forex brokers in Russia. At the same time, Bank of Russia has enhanced the regulation of brokers, requiring them to improve transparency and strengthen risk control. And some brokers began to adjust their business orientation. Therefore, plenty of forex investors are very concerned about the current status of local brokers in Russia. In order to help investors or practitioners have a more comprehensive understanding of forex brokers in Russia, 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 Moscow, capital and the largest city of Russia, to visit forex broker FINAM (licensee: Общество с ограниченной ответственностью “ФИНАМ ФОРЕКС”) as planned according to its registered regulatory address that 127006, г. Москва, пер. Настасьинский, д.7, стр. 2, комн. 17.

The survey personnel came to the destination at ННастасьинский, д.7 in downtown Moscow on July 21, 2023, where a magnificent modern office building was situated, with convenient transportation due to its fabulous location. In addition, the building was decorated with glass curtain façade which looked immaculate.

After entering the building, the investigators spotted the broker‘s office, but weren’t allowed to pay a special visit and even take photos despite showing the intention to their staff, from whom the survey team finally obtained a business card following a conversation.

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

Conclusion

The investigators went to Moscow, Russia to visit forex broker FINAM as scheduled, and found the companys name 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.