Not so long ago, bankir.ru published an interview with a top manager of Alpha Forex, who turned out to be an expert in the field of Forex trading. In particular, he explain the place of banks in the broking industry (both in Russia and around the globe).
He acknowledge the fact that some dealing centers are fake, they abuse their power and act so as to deprive their clients of money. Still, he reminds that not all of the representatives of the contemporary Forex industry are fake. There are true and reliable brokers. Still, they mostly represented by banks rendering broking services. We may referrer to the phenomenon as Banking Forex. In essence this phrase is tautology since genuine Forex is an interbank market and banks are major liquidity providers. Still, the interviewee trie to refer to those banks that render broking services to retail clients with relatively small starting capital.
Masterforex-V Academy Comments On Banking Forex
The competition in the Russian and international sector of Forex broking services is getting tougher since more banks enter the industry by rendering broking services to individuals. Still, Russia as well as the rest of the world lacks a sound legal base, Forex trading is not regulated the way it should be.
Apparently, tougher competition in the industry is beneficial for trades, investors and the industry in general since other brokers will have to improve the quality of their services and trading conditions in order to catch up with banks, especially those who have been in the industry for a while.
