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Who can you trust with your money to engage in trading and not worry that what you have traded will never be withdrawn from the exchange platforms? All traders ask themselves these questions. We have compiled a rating of stock brokers in Russia 2020 that are reliable enough to trade on the Forex market.

In addition, in this material we have presented a list of brokers based on trading conditions, and we will also study their advantages and disadvantages. This will help you quickly choose a platform for trading on the foreign exchange market.

It is worth noting that at the beginning of 2020, only 5 stock brokers received an official license from the Bank of Russia.

Below we will talk about 6 Russian Forex brokers with relevance for 2020.

This article will focus on the following sites:

Stock brokers - Russian rating compiled by reliability for 2020

Position 1: InstaForex brokerage company

A fairly well-promoted broker that provides the opportunity to conclude transactions not only on the traditional foreign exchange market, but also on various others (precious metals, indices, cryptocurrencies, etc.).

As you can see for yourself, an extensive list of advantages allows this dealing center to be included in the rating of stock brokers in Russia in 2020 in terms of reliability.

Flaws:

• freezing of the trading platform was observed;
• withdrawal of profits from 3 days (this is due to a thorough check of the client’s verification).

GO TO INSTAFOREX

Position 2: AMarkets is a reliable stock broker in the Russian Forex market

Another Forex broker, which is included in the list of the best platforms in Russia in 2020 in terms of reliability. He began presenting his services back in 2007.

Advantages:

• high order execution speed - 38 milliseconds;
• availability of a demo account;
• minimum entry threshold is 5000 rubles or (100 USD);
• minimum spreads – from 0.2 pips;
• availability of PAMM accounts;
• fresh analytics and training for beginners;
• $100 or 5000 rubles
• Leverage – from 1:1 to 1:1000
• bonuses and promotions;
• wide range of assets available for trading;
• many awards;
• regulation by The Financial Commission.

Flaws:

• large minimum deposit;
• increase in spreads when important news is released;
• not a very attractive site from a navigation point of view.

GO TO AMARKETS

Position 3: Alpari is a reliable broker with convenient trading conditions on the exchange

Forex broker Alpari is one of the oldest DCs, which has firmly established itself in the Russian market. In 2018, the Russian Central Bank revoked its operating license because the Alpari broker provided services in offshore zones. Despite this, this broker still provides quality trading services in financial markets to millions of clients. The company's management, faced with the previously mentioned conflicts with the Bank of Russia, the company did not drain the funds of its clients. Moreover, they consistently pay their clients on the first application.

Advantages:

• online account registration for trading in a matter of seconds;
• there is the possibility of investing in PAMM accounts;
• $/RUB accounts;
• minimum deposit - no;
• the widest range of assets for trading;
• platforms – Meta Trader 4/5;
• accounts are serviced free of charge;
• individual commission per session;
• leverage – up to 1:1000;
• promotions and competitions with cash rewards;
• online training.

Also, the advantages of this DC, which has long been included in the TOP-3 stock brokers of the Russian Federation in 2020 in terms of reliability, include the presence of a cent account. By the way, its lot size is also calculated in American cents, and not in US dollars. This allows you to test absolutely any trading strategy on a real account, eliminating significant investment losses.

Based on our experience, we can say that almost 90% of manager traders who use aggressive trading systems lose their clients’ deposits after 5 years of trading. To prevent this from happening to your investments, you need to withdraw profits from the traded account every week or once a month.

Flaws:

• revocation of the license by the Central Bank of the Russian Federation (when there was a license, Alpari made tax payments automatically before withdrawing the client’s funds);
• You need to fill out your income declaration yourself.

GO TO ALPARI

Broker NPBFX - 4th position in the rating in terms of reliability

Advantages:

• regulation by The Financial Commission;
• deposit from 10 USD;
• spread – from 04 p.;
• leverage – 1:100;
• Swap Free account;
• social trading ZuluTrade;
• over 40 assets for trading;
• MT4, Web terminal, mobile trading;
• there are demo accounts;
• promotions and competitions often;
• many awards.

Flaws:

• there is no cent account;
• no cryptocurrencies.

Position 5: BCS is a broker that has proven its reliability

In our selection of reliable stock brokers in Russia in 2020, BCS is considered an equally major player. After all, this is a financial group that includes not only a company, a depository, but also its own bank.

Advantages:

• 2nd place in the Russian Federation in terms of number of clients. The first is from VTB24;
• deposit starts from 50,000 rubles;
• variety of trading platforms (My Broker/Meta Trader 5, QUIK/Pocket QUIK);
• the cost of monthly account maintenance is 177 rubles;
• access to the St. Petersburg/MSK exchange and access to Eurobonds;
• transaction commission is 0.0354%;
• technical support around the clock;
• registration through “State Services”;
• the widest range of assets for trading.

Today, competition in the brokerage services market is high. How do you understand who you can trust with funds and who you should avoid? The rating of brokerage companies that provide access to trading on the Moscow Exchange will help you choose a suitable intermediary.

First, let's create a portrait of an ideal broker. I would like to cooperate with a reliable and proven company that charges minimal commission costs for its services. With a company that provides all the latest developments, Internet trading, trading via a website and a pocket computer. With a company that provides strong analytical and training support, and is also ready to advise on any issue that arises. This list can go on for a long time.

Thus, in order to choose a broker that is right for you, you need to understand what goals and objectives you are pursuing. To begin with, it is logical to select brokers that suit you according to formal criteria.

To do this you need to decide:

• Which exchanges and financial instruments do you want to access? Maybe you want to invest in Russian stocks, or want to trade on the London Stock Exchange, or maybe you don't need anything other than futures and options.
• How close is the location of the broker's office to you? For some investors, it is important to go to the broker’s office, chat with employees, feel the atmosphere, and attend seminars. Some feel comfortable at a distance, communicating with a broker exclusively by phone and via the Internet, exchanging documents by mail.
• Where are you planning to make transactions? Some people work from a desktop computer, while others need a convenient mobile application to carry out transactions on the go.
• Will you be making frequent deposits or withdrawals to your brokerage account? How do you plan to make payments, in the office or through online banking?

The next important and difficult step is to compare broker rates and other expenses. It is unlikely that you will be able to calculate all expenses with an accuracy of one ruble, but here it is important to understand the general principles of the company’s work.

To compare costs from different brokers when choosing different tariffs, you need to evaluate:

• What commission will you pay to the broker when making transactions? To do this you need to figure out:
  • How much do you plan to invest at the initial stage, and are you going to make further deposits?
  • How actively will you make trades? Maybe you want to invest a certain amount in Gazprom shares one time for several years. Or maybe you want to save part of your salary and invest in various stocks every month.
• Does the broker have a fixed part of the commission (subscription fee).
• Are you going to use the broker's credit facilities (margin lending) and are you trying to keep the lending rate to a minimum?
• What are the conditions for the provision of depository services?
• What are the conditions for providing a trading terminal?
• What are the conditions for providing information support?

After you have selected a suitable tariff, we recommend studying the quality of service based on customer reviews:

• How often do technical failures occur in systems.
• Technical support must respond quickly and efficiently.
• Customer service should be competent and friendly, and answer any questions, including stupid ones.

As you can see, there are many criteria, and it is difficult to understand them not only for a beginner, but also for a professional. We hope that the InvestFuture service will help you make the right decision!

InvestFuture Moscow Exchange broker rating: calculation formula

The InvestFuture rating is calculated using a review threshold (M=10), which gives small companies with a high quality of services a chance to take high positions in the rating. Their rating is close to the average rating of all brokers - the fewer votes a broker has, the greater the coefficient his rating will be increased after confirmation of the review.

InvestFuture rating = V / (V + M) * R + M / (V + M) * C
Where:
V - total number of reviews about the broker
M - threshold of reviews required to participate in the rating (M = 10)
R - arithmetic average of all reviews about the broker
C - average rating of all brokers

Only verified reviews are included in the calculation of a broker's rating. InvestFuture moderators reserve the right to reject a review about a company without giving reasons. Custom reviews are visible to the naked eye and are immediately rejected by moderators.

Leave your real reviews about brokers in the InvestFuture rating to make the financial services market transparent and attractive for novice and practicing investors!

The best brokers of the Moscow Exchange in 2020

In 2017, the balance of power among the leading brokers of the Moscow Exchange changed. The traditional leaders of the rating, largely focused on private clients, have been supplanted by new players who have significantly increased the volume of transactions concluded in the interests of corporate clients. At the same time, the volume of transactions of individuals on the stock market is gradually decreasing, despite the smooth growth of the client base.

The leading operators of the stock section of the Moscow Exchange, who carry out transactions in the interests of clients, increased their turnover in transactions in 2017 (the statistics take into account all types and modes of transactions). At the same time, in the second half of the year, a steady trend emerged associated with a change in leaders in the top ten most active brokers. Previously, in 2015 and 2016, the top three lines from month to month were occupied by the same players, who periodically changed places - FG BCS, FG Otkritie and Renaissance Broker. In 2017, the situation changed. In March, the brokerage company (BC) Region entered the top three. Already in September, it topped the rating with a result of 3.21 trillion rubles, significantly breaking away from its closest competitors (FG Otkritie - 1.97 trillion rubles, FG BCS - 1.74 trillion rubles). BC Region retained its leadership until the end of 2017.

The company speaks rather sparingly about the reasons for this breakthrough, without disclosing details and figures. “The growth was primarily ensured by institutional investors, whom the brokerage company specializes in servicing,” reported the press service of Region. The Region group of companies is considered close to Rosneft (manages the funds of its pension funds, is the organizer of the placement of its bonds, and participates along with it in a number of companies - see Kommersant of December 19, 2017). Region insists: the increase in the number of clients and transaction volumes occurred gradually, and the growth in the volume of repo transactions corresponded to the “general trend in the market.”

The second line of the top 10 until the end of the year remained with the Otkritie Financial Group (since November it has been designated in the Moscow Exchange statistics as the Otkritie FC Bank Group). But the third position, starting in October, was occupied by the company Univer Capital. According to its general director Askhat Sagdiev, the company's record growth in turnover ensured an increase in its customer base. “In 2017, we attracted several large corporate clients interested in placing and raising funds on the stock exchange, that is, through repo transactions,” he said.

At the same time, FG BCS moved to fourth place in the ranking by the end of the year. “This rating is not the most indicative, since it takes into account all trading modes and types of transactions at once, and some of them, due to their specifics, generate huge turnover, but from a business point of view they are not indicative,” notes the managing director of the company “ BCS Broker" Andrey Aletdinov. For example, it includes repos that appear to be "long-term for certain affiliated clients and that are likely not related to the actual client business," he points out.

It is worth noting that in December 2017, the Ural Bank for Reconstruction and Development entered the top ten brokerage services for the first time with a result of 408 billion rubles. “The growth in client turnover was due to transactions with bonds,” said the UBRD. “Clients - credit institutions showed interest in auctions of short-term bonds of the Bank of Russia; the turnover on transactions with OFZs, including repo transactions, is traditionally high.”

In the stock market, individuals primarily deal with shares. However, this segment of the exchange market is shrinking from year to year. Despite the continued growth in the number of active clients (last year from 95.7 thousand to 109.5 thousand), over the year its volume decreased by 1%, to 9.18 trillion rubles, over three years - by 10%, and since 2011 - more than doubled. At the same time, the volume of the bond market (which is mainly used by corporate clients) and repo is growing steadily: over the past two years, by 2.5 times, to 26.2 trillion rubles. The volume of repo transactions (also available only to corporate clients) almost doubled over the same period, to RUB 339 trillion.

Those who want to make money on the stock exchange will have to prepare for additional expenses:

• broker commissions;
• exchange commissions;
• monthly service fee;
• commissions for using programs for operations on the stock exchange;
• commissions for depository services (maintaining accounts containing securities).

Additional fees may apply as you invest.

The largest one, as a rule, is the broker's commission. For one company this may be 0.5% of the share price, for another - 0.055%. This means that when purchasing securities for 100 thousand rubles. in one case the broker needs to pay 500 rubles, and in the second - 55 rubles.

Where is it more profitable?

We studied the tariffs of the largest brokers in Russia. The most favorable tariff was from the IT Invest company - 0.035% per transaction. This means that when purchasing shares for 100 thousand rubles. for broker services you need to pay 35 rubles.

The market leader in brokerage services, BCS, takes a commission of 0.0354% under the “Start” tariff, but not less than 35.4 rubles. per day or 354 rub. per month. Purchasing shares through Sberbank will cost 0.125% - from 100 thousand rubles. you need to pay 125 rubles.

The larger the amount of shares purchased, the lower the broker's commission.

Most brokers do not limit clients to the minimum amount required to open an account. VTB24 has the most significant limitation - to purchase shares, you need to transfer at least 100 thousand rubles to your account.

15 brokers with minimum commission

	Broker - tariff	Commission for a transaction for the purchase/sale of shares (with a turnover of 100 thousand rubles per day)	Service fee	Min. invoice amount	Depository services
				300 rub. per month (not charged if the account balance is more than 50 thousand rubles)
	0.0354% (but not less than 35.4 rubles per day)	354 rub. (reduced by the amount of paid commissions)
	0.0354%, but not less than 41.3 rubles. for the assignment	177 rub. per month (reduced by the amount of the commission that is paid when buying/selling shares)		177 rub. per month (if there are operations)
				200 rub. per month
	0.04 of the transaction amount (including exchange commission)			0.004% per year
				150 rub. per month (if there are deals)
	0.055%, but not less than 35 rubles.	RUB 306.8 for maintaining the account
		250 rub. per month (reduced by the commission amount)		100 rub. per month (if there are operations)
	0.057%, but not less than 0.04 rub. per deal	295 rub. per month (reduced by the paid commission on transactions), if the value of the portfolio is less than 50 thousand rubles. per month		0.01%, but not less than 100
				separately for each paper
				200 rub. per month (if there are operations)

Where to open an account?

To start buying shares on the stock exchange, you need to choose a broker and enter into an agreement with him. For this you will need a passport. You can draw up documents via the Internet (for example, using a State Services account) or at the company’s office. The remote possibility of concluding a contract is offered by 9 companies out of 15 studied:

• IT Invest
• Finam
• Veles Capital
• Alfa Bank
• Zerich
• Alor broker
• Opening broker
• ATON.

VTB24 has the largest network of offices where you can conclude an agreement in Moscow – 104 branches. Here are the addresses of brokers in Moscow. If you are from another city, you can find the nearest office on the broker’s website.

Warning: Stock trading is risky and you may make or lose money invested. If you don’t know how a stock differs from a bond and believe in a fabulous income in one day, then sign up for an investment course.

How was the rating compiled?

It was taken as a basis, leading in terms of trading volume on the Moscow Exchange in January 2017. It included the first 15 companies that provide services to individuals. Each broker determined a tariff with a minimum commission for the purchase/sale of securities with a turnover of 100 thousand rubles. in a day. The rating did not take into account special offers and promotions. The lower the broker's commission, the higher his position in the rating. Broker rates are current as of May 24, 2017.

Hello, readers of the financial magazine "site"! Today we present to your attention an article on the topic of choosing a reliable broker on the Forex exchange.

From this article you will learn:

• What is the activity of a Forex broker and its main functions;
• What criteria should you use to evaluate and select a potential broker?
• Which company is better to choose - foreign or Russian;
• What does the ranking of the TOP 10 best Forex brokers in Russia look like?
• A list of Forex brokers licensed by the Central Bank of the Russian Federation, as well as a number of companies whose applications are being reviewed by the regulator.

The foreign exchange market operates around the clock and allows people to earn money without leaving their main job.

The article will be useful for those who want to make money using the Forex market and want to choose a reliable broker. We also talked about how profitable it is in one of our previous publications.

The material below will help you choose the option that suits you from the variety of brokerage organizations present on the market.

So here we go!

Forex brokers: who they are, how to make the right choice, which brokerage companies operate with a valid license from the Central Bank of the Russian Federation, as well as what the rating of the best Forex brokers looks like - you can find out about all this by reading the article to the end

Concept "forex broker" is the most used when conducting trading operations on the Forex exchange.

1.1. Who is/what is a broker - detailed description

Broker – an authorized person carrying out instructions buyers And sellers on the stock exchange and receiving monetary compensation for their intermediary work.

This exchange participant can be both individuals and organizations (legal entities). The amount of commission is clearly regulated and legally formalized in the form of an agreement with the client.

On the Forex exchange, the object of trading for purchase and sale is currency . To purchase a position, the buyer contacts forex broker , who, focusing on the client’s wishes, carries out his instructions.

To eliminate various kinds of speculation, the range of actions of intermediaries is clearly stated in the agreement, on the basis of which the broker can take actions strictly at the request of the client and at his own discretion.

A prerequisite for participation in foreign exchange trading is presence of an intermediary licenses for brokerage activities, as well as official registration on the trading platform.

1.2. Main functions of a forex broker

The fundamental task of a broker on the stock exchange is to assist the client in obtaining maximum income. The expectation of profit encourages buyers and sellers to delegate the management of their own financial resources to forex brokers.

In addition, intermediaries in this market perform a number of important functions:

• Transactions.
• Providing the client with information on necessary transactions. Thanks to their experience in operating on the stock exchange, brokers can provide the necessary information about risks and various pitfalls that a partner may not be aware of.
• Manage financial records of your clients. The list of documents must comply with current legislation and the requirements of regulatory authorities.
• Providing the client with information about transactions with securities. The broker also focuses on current legislation and provides information only in the manner and in cases provided for by it.
• Forecasting. Knowledge and experience will allow the broker to analyze the possible prospects of the transaction.

This series of tasks and functions that brokers perform on the Forex exchange requires significant knowledge, experience in the market, taking into account the requirements of regulators, and also requires orientation to the relevant legislation. Given these factors, most market participants prefer to achieve results using the services of brokers.

Investors on the stock exchange are divided into two categories:

1. To the first include those participants who simply indicate positions for investment. As a rule, these are experienced clients who understand the mechanisms of market functioning. For this category, the broker’s tasks are reduced to providing up-to-date information and a forecast of possible profits.
2. Second category– newcomers to the market and participants with little experience. To achieve certain results, it is advisable for them to use the knowledge and experience of their Forex broker.

For proper performance, the choice of a broker should be treated as carefully and scrupulously as possible.

Important criteria for choosing a Forex broker

2. How to choose a Forex broker - 10 main selection parameters 📝📊

Choosing a broker– the most important question for potential participants in the Forex exchange. The popularity of this platform in Russia is growing at a significant pace. At the same time, the number of brokers and legal entities providing brokerage services to exchange participants is growing.

The growing influence of information technology on the processes of communication between a broker and potential investors can lead to the fact that a not entirely competent intermediary on the stock exchange, who knows how to sell his services well, will cooperate with a larger number of novice investors than a more sophisticated competitor.

In order not to make a mistake when choosing a counterparty, there are a number of parameters by which the client can distinguish serious professional brokerage company, among a large number of competitors.

Parameter No. 1. Trading conditions

Initially attention should be paid on initial deposit amount. It should be determined purely by the amount of capital of the investor. At the same time, a significant part of brokers, trying to attract new partners, reduce the entry threshold to the market, reducing it to 10 – 20 dollars.

Some brokers use some restrictions and offer beginners to deposit several hundred dollars and use them in trading.

For some brokerage firms, trading is a prerequisite for interaction minimum one lot , but in this case, for proper capital management, the trader needs to have an amount at 10,000 dollars and more.

Parameter No. 2. Spread size

A significant aspect of the choice is the size and type of spread used.

Some companies exhibit floating indicator, which may change based on events occurring in the market. In this case, at moments of significant changes, this indicator can increase many times.

Some brokers use fixed spread, which does not change in any market situation.

Parameter No. 3. Commission fees

Most brokers do not charge commissions for their services, and their earnings come mainly from the spread. But not all.

In order to avoid getting into an unpleasant situation, the client should carefully study all its aspects before signing the contract. Almost all operators charge commission for holding a position longer than a day- this process is called swap. At the same time, based on the interest rate on the selected pair, the swap can be positive.

Parameter No. 4. Additional restrictions on trading

Some brokers There are special requirements:

• limitation on the number of transactions;
• “participation” in trading of a specified amount of funds.

Failure to comply with these requirements leads to automatic withdrawal of a certain fee from the account.

Parameter No. 5. Easy deposit and withdrawal of funds

It is important to learn about the methods of depositing and withdrawing funds, as well as the possible commission for these operations. A significant issue is the possibility of using payment systems.

It happens that money can be entered in one way, but withdrawal in the same way is not possible.

Some brokers bear the costs of client money transfers, others do not provide this service. You should also clarify about list of required documents for the successful completion of relevant operations.

Parameter No. 6. Reliability level

When making a decision, you need to find out the legal status of the broker, as well as which country he is a resident of.

It happens that a brokerage company is registered in one of them and in the event of negative consequences of cooperation, it will be problematic to protect your rights.

Parameter No. 7. Terms of the agreement for the provision of brokerage services

Before signing an agreement, you should evaluate what mechanisms it provides for resolving controversial issues, as well as the relationship between obligations and responsibilities of the parties.

Positive aspects include the presence in the agreement of regulations according to which operations will be carried out. If biased terms of the agreement are discovered, it is better to resolve them BEFORE execution of the contract.

Parameter No. 8. Availability of permits (licenses)

Availability of a license is an important criterion when choosing a brokerage company. Most Russian brokerage companies have a license from the Central Bank of the Russian Federation to carry out dealer activities on the forex market, which allows us to weed out some of the unscrupulous organizations. (We will provide a list of Forex brokers with a license from the Central Bank of the Russian Federation in the corresponding section of this article below).

Parameter No. 9. History of the company and its presence on the market

The number of branches and clients, the size of the authorized capital, reviews of the company’s activities are factors that can provide objective information about a potential partner.

Parameter No. 10. Liability and Risk Insurance

The presence of the intermediary’s responsibility to clients guarantees the safety of financial assets, allows one to count on compensation for possible losses of funds, and also allows minimize risks.

Using the parameters described above when evaluating a broker will allow a novice trader to make the best decision when choosing an intermediary for.

3. Who is better: Russian or foreign Forex brokers? 📌

The development of Internet technologies allows the modern investor to have the opportunity to make a choice in favor of a domestic broker or use the services of foreign brokerage companies.

comparison table

The table will allow you to compare the advantages and disadvantages of a particular solution:

Comparison criterion	Foreign brokers	Russian brokers
Reputation	Reliable reputation	Some companies provide an insufficiently high level of service and services
Minimum deposit amount	High threshold to enter the market – significant initial investment required	You can participate even with a minimum starting capital by opening a cent account
Language	The vast majority use English language, and there is no Russian-language support	Russian language is used
Trading platform	Complex and inconvenient platforms that require a lot of time to learn	Mostly convenient platforms for traders
Withdrawal of funds	Withdrawing funds through foreign banks	Provides a variety of withdrawal options
Knowledge of the domestic mentality	Absent	Focus on domestic participants in the foreign exchange market

Based on the table data, it can be seen that Russian brokers provide more convenient conditions for domestic investors, but at the same time, foreign companies are distinguished by a high level of service and services provided.

4. The best Forex brokers in Russia - rating of TOP-10 brokers by reliability 💎

Having considered the list benefits And shortcomings leading Forex brokers (dealers) in Russia, a novice trader can do right choice.

Forex broker #1. Forex Club

Forex Club has been presenting its services on the market since 1997, and is one of the leading companies.

Advantages:

• International quality certificate ISO 9001;
• Simplicity and accessibility of registration;
• Bonus accounts;
• Spread size – from 0.5;
• Presence of positive swaps.

Flaws:

• High starting deposit threshold – from $200;
• Leverage – from 1:1 to 1:50.

Official Forex Club brokerage company website link.

Forex broker #2. Alpari

Alpari – very popular, providing high-level services, and reliable brokerage company. The company has been operating since 1998.

Advantages:

• Equally favorable conditions for beginners and experienced investors. The smallest spread is 0.1 points; after registration, dollars, rubles, euros and gold are already available in the deposit currency;
• Low starting investment. Using the “nano” account you can trade with a capital of 5 dollars;
• Educational programs. A large list of paid and free information for developing the skills of both beginners and successful investors;
• High profitability. The income from one option can be up to 100% profits (we talked about that in the last article);
• Providing information. The broker's website is equipped with all the necessary information about subsequent economic events, as well as forecasts from experienced investors. This allows you to make informed decisions and minimize risks;
• PAMM accounts. gained considerable popularity. One trader transfers money to another to an authorized management, intending to receive income, and provides the account manager with a part of it;
• Procedure for depositing and withdrawing assets. Replenishment and withdrawal of money occurs very quickly, in the absence of commissions (maybe from payment organizations), and all popular payment systems are available;
• Reputation. The company enjoys high prestige among other brokers, as well as investors and stock speculators;

The disadvantages include: the company is a resident of an offshore zone (Grenada).

Forex broker number 3. Alpha Forex

Brokerage company Alfa-Forex was registered in an unregulated offshore zone (British Virgin Islands) in 2003, but changed it in 2016 to Cyprus jurisdiction, which is more civilized. The broker is a subsidiary of Alfa Bank.

Advantages:

• Reputation. The parent company provides the broker with a form of management and influences the level of services, which affects the service;
• No restrictions on the minimum deposit to the account;
• Variety of trading platforms;
• No commission when withdrawing funds;
• Fast deposit and withdrawal operations;
• Free educational materials;
• The minimum spread level is 0.7 points;
• Leverage – from 1:50. Most pairs are 1:200;
• Possibility to use bank accounts for transactions on the Forex market. The bank is a tax agent and resolves tax issues for its clients.

Flaws:

• Difficulty verifying your account;
• Technical support;
• Website. The information content leaves much to be desired - most of the information becomes available after registering on the site.

Forex broker No. 4. InstaForex

Insta Forex is a group of companies providing brokerage services. Has been operating on the Forex exchange since 2007 and is Asian market leader . A distinctive feature is its focus on attracting newcomers.

Advantages:

• Loyal attitude towards newcomers. Variety of materials for;
• No minimum deposit. You can trade from as little as 1 cent. If there are no funds, but there is a desire to learn, a hundred-dollar bonus is provided, which must be “worked out” on a large number of transactions;
• Large range of trading leverage. You can trade without leverage (1:1) or with leverage up to 1:1000;
• Low spread. Some account types do not have spreads, while others have low spreads;
• Low swaps. When maintaining positions for a significant period of time, traders do not experience significant losses;
• A significant number of foreign exchange instruments;
• Bonus system. Progressive reward system for replenishing accounts;
• Trader motivation system. A large number of competitions with significant prizes;
• Interest on available funds. 13% per year is charged on free money on deposit.

At the same time, there is also a number of disadvantages:

• Overloading the broker's website with information. Congestion is offset by good site navigation.
• Delays in the process of depositing/withdrawing money.
• Lack of proper regulation when controversial situations arise.

Forex broker #5. Finam

Finam Limited – an organization providing brokerage services since 2003. Country of registration is Cyprus, where the activity was licensed.

Advantages:

• Forex broker license from the Central Bank of the Russian Federation. Provides maximum protection for clients in case of conflict situations;
• Reliability;
• Deposit/withdrawal of funds.

At the same time, upon obtaining a license, significantly earning opportunities have deteriorated:

• Minimum capital – 500 US dollars;
• Leverage – only 1:40;
• High spreads;
• The account currency is Russian ruble only.

Forex broker number 6.

Adamant Finance is a company founded in 2014, which allows trading on both spread and commission terms.

Advantages:

• Minimum exchange spreads;
• Fast order processing;
• Leverage – up to 1:500;
• Minimum deposit – from 1 US dollar;
• Commission. For the classic account - none, for the rest - a small commission;
• Number of instruments – up to 104;
• Availability of bonuses.

The negative points include:

• lack of training videos;
• verification features;
• use of one trading platform - MetaTrader 4.

Forex broker No. 7.

Teletrade – brokerage company founded in 1994 and currently represented in 30 countries with more than 200 offices.

Advantages:

• Free analytical information and training;
• 24/7 technical support;
• Various bonuses and promotions;
• Trust management.

Flaws:

• High minimum deposit – $1000;
• Maximum leverage – 1:100;
• Spreads: minimum floating – 0.5, fixed – 3;
• Minimum lot – 0.10;
• Number of trading instruments – 47;
• Withdrawal of funds.

Forex broker No. 8.

is a well-known broker founded in 2007 and registered in the British Virgin Islands.

Advantages:

• Availability of cent accounts;
• Maximum leverage – 1:1000;
• Low spread;
• Minimum lot – 0.0001 (cent account), from 0.01 (on other accounts);
• Insurance of traders' accounts;
• Minimum deposit from 1 dollar.

Flaws:

• No bonuses or promotions;
• One trading platform - MetaTrader 4;
• Lack of regulators.

Forex broker number 9.

Brokerage company RoboForex was founded in 2009 in New Zealand.

Advantages:

• Minimum deposit from 1 dollar;
• Leverage up to 1:1000;
• Spread from 0 points;
• Wide range of trading platforms;
• A significant selection of accounts for both beginners and professionals;
• Bonuses for replenishing your account in the amount of 50% of the amount;
• Tutorial. Regular video seminars for traders of different levels.

Flaws:

• Floating, dynamic spreads;
• Stop trading. From eleven to twelve at night, trading stops;
• There are slippages.

Forex broker #10.

The company was founded in 2007 by successful traders and is currently represented in 7 countries.

Advantages:

• Large share of successful investors from the total number;
• Convenient functionality;
• A large number of financial instruments;
• Bonus on your first account replenishment;
• High speed of transaction execution;
• Special analytics tools;
• Client insurance;
• High level arbitration;
• A significant selection of trading platforms.

Flaws:

• There are delays in withdrawals;
• Trading 5 days a week;
• No cent accounts.

All brokerage companies considered have their own individual characteristics, and to make the optimal choice in favor of one of them, you need to realistically evaluate your knowledge, experience and financial capabilities.

Current list of forex brokers licensed by the Central Bank of the Russian Federation

5. Forex brokers licensed by the Central Bank of the Russian Federation in 2020 📋

In Russia at the end 2015 of the year A law was adopted regulating the activities of brokerage organizations operating on the Forex exchange. This has led to significant changes in the market for these services.

According to the license of the Central Bank of the Russian Federation, brokerage companies are required to make changes to trading processes:

1. Reduce the maximum leverage level to 1:50 . This decision is negative for experienced investors, but at the same time is designed to protect the interests of beginners.
2. Reducing the list of tools to 26 currency pairs The measure is positive, since the proposed selection of pairs are the most liquid.
3. Obligation to hold investors' funds for separate accounts in banks. This change provides a significant advantage to traders (additional guarantees of the safety of funds).
4. Obligation to pay taxes on profits earned by traders. Since 2016, licensed brokers are required to pay tax on the profits received by investors. The tax rate for Russian traders is 13 %, and for all others - 30 %.

5.1. List of licensed Forex brokers of the Central Bank of the Russian Federation

Initially, it was assumed that most brokerage companies would accept the regulator’s conditions, restructure their activities and obtain a license to officially operate in Russia, however, by January 2020 there are few such organizations:

1. "FINAM FOREX" , license received on December 14, 2015;
2. "Alpha Forex" license received on December 21, 2018;
3. "VTB 24 Forex" , license received 09/01/2016

5.2. Forex brokers under consideration by the Central Bank of the Russian Federation

The Central Bank is currently considering applications for licenses from well-known brokerage organizations.

The vast majority of companies operating on the Russian market have not even applied for a license.

This is most likely due to the fact that a significant amount of investment is required to bring activities into line with new requirements. The second factor is the absence of significant barriers to further activities without a license.

Cooperation with a resident company in Russia will allow investors to be more protected, but they will have to give up high leverage.

6. How to avoid common mistakes when choosing a broker in the Forex market - practical tips and recommendations 📑

In the above information, we have considered 10 the best and most reliable companies, cooperation with which will not bring unexpected financial losses if the opportunities are used correctly, given by Forex brokers.

When choosing a broker, you should also consider additional aspects:

• Analysis of reviews on the Internet. Study is necessary, but you should not “blindly” believe, because... Most beginners suffer losses due to the desire for quick success and lack of experience. Focus should be on quality of service and the level of the affiliate program.
• No negativity towards the software.
• Broker's attitude towards complaints. Quick response, help and advice are the hallmarks of a reliable broker.
• The process of depositing and withdrawing funds. If the broker has cent accounts, it would be advisable to test the system: deposit a couple of dollars and then withdraw them. Reliable brokers have no barriers to withdrawing funds.
• Availability of official registration.

7. Frequently asked questions on the topic of publication 🔔

We took the most frequently asked questions from new traders and tried to answer them.

Question 1. How do brokers that provide no deposit bonuses on Forex work?

There are companies in cooperation with which you don't have to make a deposit , but in this case money is not given free of charge.

In one of the options upon registration, the trader receives a bonus, but in order to withdraw these funds, they must be “worked off” by a certain set of concluded transactions.

In other cases – payment for training is made, after which the broker is convinced of the trader’s competence and allocates money for trading, and the income is divided in half.

Question 2. Where can I find real reviews of Forex brokers and independent assessments of traders?

There are many websites and thematic forums on the Internet dedicated to the activities of Forex brokers. It is worth noting that objective information and real assessments of traders can be found on the World Wide Web It's hard enough.

An objective independent review must meet the following criteria:

• Facts and supporting information;
• Lack of emotions;
• Maximum information content of the review.

An unbiased assessment of brokerage companies, in our opinion, is presented on the Internet resources: forex-ratings.ru and gurutrade.ru, the purpose of which is to analyze, compare and highlight the most reliable Forex brokers.

Question 3. Which brokers offer cent accounts for opening?

The optimal solution for starting activities on the Forex exchange, as well as for evaluating innovative strategies, would be to use cent accounts .

The table discusses brokers who offer to open cent accounts, as well as the conditions for trading on them.

№	Forex broker	Check	Minimum deposit amount	Minimum lot	Tools	Spread
1.	Alpari	Nano.mt4	—	0,0001	51 currency pairs, metals	Fixed, with 2 points
2.		Fix - cent	—	0,0001	31 currencies, metals	From 2 points, fixed
		Percent			34 currencies, metals	From 0.4 points, dynamic
3.		Cent	2 cents	0,0001	Currencies Commodities	Fixed from 2 points
		Cent-NDD		0,0001	Currency pairs	Floating from 0.1 points
4.	Exness	Cent	—	0,0001	Currencies Metals	from 0.3 points, dynamic
5.	Aforex	Robotics	100 US dollars	0,001	Currency pairs	From 2 points, fixed

7. Conclusion + video 🎥

Choosing a broker is a serious factor that significantly influences further results in the Forex market.

There are a large number of companies in Russia that provide intermediary services on the stock exchange. An objective assessment of one’s capabilities, as well as studying the individual characteristics of trading and educational conditions of brokerage companies, will allow a beginner to make the best choice.

That's all for us.

Dear readers of the online magazine “RichPro.ru”, we will be very grateful if you share your knowledge, opinions and experience on the topic of publication in the comments below.

10.10.16 321 998 11

For trading on the Moscow Exchange

If you read the previous article “,” then you already know that to access exchange trading you need an intermediary - a broker.

As of February 2019, there are almost 300 operating brokers in Russia. Today - how to choose from this variety.

Artem Kuroptev

private investor

How to choose a broker and open a brokerage account

1. Review bidder ratings.
2. Check whether the broker has licenses from the Central Bank for brokerage, dealer and depository activities and for asset management.
3. Find out if you can open an account online.
4. Find out what markets and assets are available through your broker and what restrictions you may encounter.
5. Select a tariff plan. It is better not to chase low commissions, but to pay attention to mandatory payments.
6. Conclude an agreement for brokerage and depository services.
7. Wait for a notification that the broker has opened an account for you and registered you on the exchange.

Who is a broker

A broker is a financial organization with a special license. Sometimes the functions of a broker are combined by a bank, sometimes it is a separate commercial organization. Sometimes this is an organization within a financial group.

A broker is your “hands” on the stock exchange. With the help of a broker, you buy and sell securities, enter into contracts and exchange currencies.

What does a broker do:

1. Takes into account the funds and property transferred by the client.
2. Registers you on the exchange and assigns special codes for making transactions.
3. Gives you information about the progress of the auction.
4. Receives orders from you: “Buy this”, “Sell this”, etc.
5. Makes settlements on transactions - transfers money and securities.
6. Gives reports on transactions, on the movement of money and securities.
7. Issues certificates of taxes paid, the price of purchased securities, etc.

The broker also works as a tax agent: withholds and transfers taxes on dividends to the state, calculates and withholds tax on profits from the sale of securities and income from futures contracts. There are many subtleties in this issue, we’ll talk about them another time.

How does it work with a broker?

1. Contracts. First of all, you enter into an agreement for brokerage and depository services. These two types of services are required and go together. Depending on the method of conclusion, you may have in your hands the full text of the contract with a stamp and signature, a short notice of the conclusion of the contract, or even a notice received by email. An agreement with one broker is concluded only once.

2. Opening accounts. The broker opens accounts for you in its own accounting system and registers you on the exchange. When it's ready, you receive an account opening notification. Now you can transfer money to your brokerage account.

3. Deposit money. There are different ways to fund a brokerage account. The most universal is ruble bank transfer. The broker will provide the exact details and wording of the payment purpose. The transfer can be made through a banking application, online banking, or a bank cash desk.

4. Software. If you trade via the Internet, then to work with some brokers you will need to install and configure a special program - a trading terminal. For others, trading occurs through the website. How to install the program and configure encryption keys - read the broker's instructions.

To understand how the terminal works, try to place orders and not risk real money, practice making transactions in game mode. This can be done both before the conclusion of the contract and after.

A demo account will allow you to understand the technical side of trading, but game transactions and real ones can be very different psychologically. A loss on a demo account is not as bad as losing real money.

Before participating in real trading, practice making trades on a demo account

5. Participation in auctions. Trading takes place according to the exchange schedule. For example, on the Moscow Exchange stock market, the main session runs from 10:00 to 18:40 Moscow time. You cannot buy or sell shares at other times.

During the trading session you can submit orders. An application is like saying: “I want to buy this at such and such a price” or “I am selling this at such and such a price.” Some orders are almost guaranteed to lead to a trade, while others may not be executed at all.

Roughly speaking, you want to buy a Ministry of Finance bond for 997 RUR, and everyone is selling in the range of 998–999 RUR. Then the application will be put in a queue: suddenly someone will offer their bonds at this price. If no one offers, it will not be executed and either the broker will remove it or postpone it to the next day.

Orders can be canceled at will, as long as they are not executed, that is, did not lead to a transaction. But you won’t be able to cancel the deal, even if you made a mistake with the price, quantity or direction.

There are situations when it is impossible to buy or sell a particular security due to the lack of sellers or buyers. This happens mainly with illiquid - not very popular - securities.

6. Working with reports. If during the day you made transactions or there was movement of money and securities on your accounts, the broker will report to you about this. The report will arrive by mail or will be visible in the terminal.

7. Withdrawal of money. You can withdraw all or part of the money from the brokerage account. For example, if you received dividends, you can withdraw them. If you sold stocks or bonds, you can withdraw all or part of the proceeds. Usually the money is withdrawn via bank transfer, but brokers have other options.

Withdrawing money is not an instant process and may take up to three business days.

For example, money from the sale of shares cannot be withdrawn on the day of sale of these shares. The fact is that settlements for shares on the Moscow Exchange occur on the second day after the transaction day - this is called the T + 2 settlement mode (T day plus two more days).

If you made a transaction today, the shares will be debited from your account the day after tomorrow - and then the money will come in.

You can withdraw money two days after the sale of shares

All terms of the transaction, including the price, are fixed at the time of its completion. Therefore, if from the moment of the transaction to the moment of actual settlement the price of shares on the stock exchange has changed, this does not concern you, the price is fixed for you.

Deferred calculations create inconvenience when withdrawing, but provide a number of advantages when entering and purchasing. More on this another time.

We have figured out the general scheme of working with a broker. Now let's talk about choice.

How to choose

Risk of bankruptcy

A broker is a financial organization that engages in commercial activities. Like any commercial organization, a broker can go bankrupt. Like any financial organization, a broker’s license can be revoked.

Securities purchased through a broker are stored in the depository in the form of electronic records. Typically, the depository is a separate department within the brokerage company itself.

If the broker goes out of business, you will not lose rights to your securities. They can be transferred to the depository of another broker. But if the broker incorrectly took into account client assets, everything will become noticeably more complicated - up to the loss of papers and litigation.

Unlike banks, there are no government guarantees for brokerage accounts - no investment insurance agency.

Otherwise, the situation is no different from the Russian banking sector: there are state banks, there are leaders among private companies, and there is a “long tail” of all the rest.

Leading market operators by number of active clients, January 2019

Sberbank

Tinkoff Bank

"Opening"

Alfa Capital Management Company

"Alfa Bank"

"Promsvyazbank"

Leading market operators by volume of client transactions, January 2019

GC "Region"

4 178 288 161 143

1 511 581 022 024

"Opening"

1 443 759 214 973

"Renaissance Broker"

"Univer Capital"

Investment Company "Veles Capital"

Sberbank

"Bank Credit Suisse (Moscow)"

How to choose

Brokerage services

Brokerage services are not only about transactions. There are a few more points that you should pay attention to when choosing a broker.

Opening an account via the Internet. There are three options to open a brokerage account: visit the office, send notarized documents by mail, or open on the Internet through the government services portal. The option with government services appeared only this year and not all brokers have it yet.

Access to markets. If you want to trade on the stock, derivatives and foreign exchange markets of the Moscow Exchange, then any large universal broker will suit you.

Some banks, for which the brokerage business is a side business, give individual clients access only to the stock market of the Moscow Exchange. Some brokers may not provide access to trading on the St. Petersburg Exchange.

Another set of available platforms and tools may differ for brokerage accounts and individual investment accounts. Check in advance what markets and assets are available through your broker and what restrictions you may encounter.

Trading by telephone. Not all brokers allow you to trade by phone, and the rates for this service can be prohibitive. Please check in advance if you plan to take advantage of this opportunity. This is useful if you cannot use a personal computer at work or do not want to understand the programs yourself.

Training and consultations. Tariff plans for online trading with low commissions do not provide training for clients in stock trading. If you need help learning, some brokers offer free webinars, while others have paid courses and instructor-led sessions.

There are also special tariff plans, usually they are called “Consulting” or even “Personal Broker”. These plans will tell you what to buy based on your capital size, investment period, and risk appetite.

Such plans have high subscription fees or capital requirements. It is unknown what quality the consultations will be. No one can guarantee that they will bring you money.

Most often, training from brokers is paid

Software If you trade via the Internet, then to work with most brokers you will need to install a special program on your computer, tablet or phone - a trading terminal.

Most often, Russian brokers use the QUIK system. The exceptions are Alfa Bank and IT Invest, which have their own platforms. As well as NetTrader and Tinkoff Investments, whose clients do not need to install separate software - transactions can be made through the website.

You will receive the QUIK version for Windows for free, but you may have to pay extra for the versions for Android and iPhone. Therefore, if you plan to trade from a tablet or smartphone, ask your broker if you can do this and how much it costs.

If you have a Mac and the broker has QUIK, then you will have to install a special subsystem to run Windows applications. If you can't handle this yourself, you'll have to call a computer technician.

There is also a web version of QUIK. It can be launched via a browser from any computer. This option may cost additional money, check with your broker's rates.

How to choose

Broker tariffs

Tariffs for the same services can vary greatly from broker to broker. In addition, each broker usually has several tariff plans with different prices.

Brokerage commission for transactions. The broker takes a commission, which is calculated as a percentage of the transaction amount. On the Russian stock market, a common commission for novice investors is 0.05-0.1%. With this tariff, when buying shares, bonds or ETFs for 100,000 rubles, you will pay 50-100 rubles. Plus the same amount when selling. Exchange commission is about 0.01% of the transaction, sometimes it is already included in the brokerage fee, and sometimes it is calculated separately.

The commission is calculated separately from transactions and is not included in prices. Sometimes the commission amount is visible immediately in the terminal. You can always see it in the broker's reports. The commission can be debited from the brokerage account based on the results of the day or accumulated over the course of a month and debited based on the results.

Minimum broker commission or subscription fee. In addition to a percentage of the transaction, the broker may have a minimum commission. For example, the minimum commission for any transaction can be 99 rubles. Or monthly subscription fee - 250 rubles. You need to look in each specific case at how such a commission relates to the number and amount of transactions that you plan to make.

If the minimum commission is 295 rubles per month, and your entire account is 30,000 rubles, then you will lose 12% of your account in a year on commissions alone. You can look for a cheaper broker or increase your account size so that the minimum fee is not charged.

If the commission is 295 RUR per month, and the account is 30,000 RUR, then in a year you will lose 12% of the account

You can still trade like a god, earn 100% per annum and not worry about commissions, but the fantastic is in the next department.

Depository services and fees for storing securities. The depositary may charge a commission if at the end of the trading day or at the end of the month your number of securities changes. For small transactions, the depository commission can be several times higher than the brokerage commission. It is better for novice investors to choose a broker who does not have a separate commission for depository services.

Software fees. There may be a subscription fee for using the web version of QUIK, applications for Android and iPhone.

Deposit and withdrawal of funds. Most brokers do non-cash deposits and withdrawals of rubles for free or with a symbolic commission - for example, 10 rubles. You won't notice any fees if you want to fund or withdraw money from your brokerage account.

With currency it is more complicated: withdrawal to an account in the same bank that provides you with brokerage services can be free or with a small commission, for example, 0.15% of the amount. But transfers from a broker to an external bank may incur an increased commission. If you are going to convert currency on the stock exchange and withdraw it to a bank account, then you need to look at the tariffs for external currency transfers.

Additional commissions. The broker may charge a fee for various additional services, such as presenting securities for an offer and participating in the initial placement of securities. If you plan to use such services often, pay attention to the fees for them.

If you want to get a paper and stamped transaction report from your broker, that may also cost money. But this is rarely needed and is inexpensive.

How to choose

The simpler the better

If at the first stage it is difficult for you to understand what exactly you want from a broker, choose simplicity. A broker with simple tariffs will allow you, even with little money, to look around and get practical experience working on the stock exchange.

Investing on the stock exchange is similar to entrepreneurship. You need to start somewhere, and then work day after day to gradually improve the result.

Look for new ideas, adapt to changes in the economy, legislation, and market. The broker is just part of this process, your tool. If you don't work well with one, you'll find another.

A broker is not forever. If you don't work well together, you'll find someone else

Do not chase the lowest commission on transactions, because you still do not know how many transactions and what volume you will make. Instead, pay attention to mandatory payments. Over time, you will understand how commission affects your results, and if necessary, you will be able to find a broker with more suitable conditions.

Don't hesitate to contact support and ask a question. You can not only find confirmation of what you read in the tariffs, but also learn additional nuances. You will also be able to evaluate the speed of response to your request.

The broker answers clarifying questions about tariffs: the answers are detailed and understandable

Don't try to embrace the immensity. Without experience, you still won’t be able to choose the ideal broker the first time. Don’t worry if you overpay slightly for brokerage services in the first year - consider this as payment for the acquired knowledge and practical skills.

You can also open brokerage accounts in several companies at once. But if you open an IIS, remember: IIS, unlike a brokerage account, can only have one.

Crib

Important

The simpler the better. If at the first stage it is difficult for you to understand what you want from a broker, choose simplicity. A broker is not forever.

Don't chase low commissions. You don’t yet know how many transactions and what volume you will make. Better pay attention to mandatory payments. Over time, you will understand how commission affects the result, and if necessary, you will be able to find a broker with more suitable conditions.

A complete set of programs is not a standard. We are used to the fact that all services have sophisticated websites and applications for any screen: be it tablets or smart watches. But this is not always the case with brokers. Check that the broker has a terminal for the platform you need. Or you yourself should be ready to adapt to the broker’s programs.

Ask support questions. You will not only be able to find confirmation of what you read in the tariffs, but also learn additional nuances. You will also be able to evaluate the speed of response to your request.

How to choose a broker and not regret it

1. At the first stage, choose simplicity, especially if it is still difficult for you to understand what you want from a broker.
2. Check if the broker has a Central Bank license.
3. Don't chase low commissions.
4. Check that the broker has a terminal for the platform you need.
5. Don't be afraid to ask support questions.