In Russia and Ukraine

Oversight of foreign currency operations in Russia or the Ukraine Central Bank and National Bank of exercise, respectively. However, free unlimited conversion operations of their legislation does not provide. In Ukraine, as of July 2009 as there is no legislative framework for margin trading. Due to the nature of foreign exchange and tax legislation are registered in Russia or Ukraine-brokers usually do not have the legal right to financial services. Most often, they are a licensed bookmaker in the activity. Most major dealing centers generally have a foreign registration, and the local offices do not accept any legal responsibility or they do not officially registered. A client of a company usually has no real opportunity as a challenge of its action and obtain legal protection in conflict situations.

Almost no one confuses that your professional mediator will legally be in the area of ​​offshore regulation, or, for example, that all the contentious issues customers have to settle no closer than the London Court of Arbitration. But as the guarantees of safety of customer deposits from fraudulent attacks will be the license of the Federal Agency for Physical Culture, Sport and Tourism on - attention! - The organization and content of the betting and gambling establishments. In general, the Russian market access to the Forex reigns almost complete freedom.

One often hears the objection that the West purely forex firm is not subject to direct government regulation. They say the market is a special, free in its essence, over the counter. Trade on it is done by telephone and the Internet. Each company-dealer, in fact, itself a market for their clients. In general, the actual buying and selling exchange does not occur, and therefore to regulate something almost nothing. The game is such recklessly and economic, not for outsiders, and for intellectuals.
Such cunning liberals. Foreign exchange market itself globally regulated, indeed, can not be. But here is the relationship with the client to broker a decent country - very even. Financial transactions from gambling are separated clearly.

Gradually, however, foreign exchange trading in Russia is becoming more organized. One of the first in the direction of development of regulations and protection of human traders was established in 2003 "the Commission to regulate relations in the financial markets" (KROUFR). Decisions are binding KROUFR only to organizations that belong to it, and for others they are recommendatory. February 5, 2009 by RTS stock exchange began trading currency futures.
Russian legislation currently does not provide any description of the legal status of organizations conducting activities on the Forex market. The forex market is not an activity of professional participants of securities market. The Federal Financial Markets Service of Russia (letter № 09-VM-02/16341 on July 16, 2009) clearly indicate that the activities of participants in the forex market does not apply to the activities of professional participants of securities market and is not regulated as indicated by Federal law and legal FSFM of Russia. The letter states:
Relations associated with the activities of the foreign exchange market, including activities to raise funds for operations in the Forex market is not regulated by the regulations of Federal Financial Markets Service of Russia, a license issued by the Federal Financial Markets Service of Russia, does not provide a right to engage in these activities.