Belarus FX Trading Activity Surges with 30% in 2022

Belarus FX Trading Activity Surges with 30% in 2022

Belarus, a post-Soviet nation bordering Russia, has seen a 30% jump in its FX trading client base in the first months of 2022. Numbers taken on October 1st reveal that the number of clients has increased from 1850 000 to 239 400.

These numbers were revealed by the Financial Market Development Association of Belarus (ARFIN), an association combining a number of OTC forex market-running organization in Belarus.

Another clear example of the increase in number is the impressive value of funds that the companies were able to amass during the period between Q1 to Q3. ARFIN estimates that clients had deposited around $293.6 million with forex broker in Belarus. However, and important revelation was that around 91.1 percent of these deposits came from outside the nation.

The research led by ARFIN also disclosed that 40% of the population is not in on any financial investments nor has it saved their money in any conventional way, that is to say within an institution. This acts as a main reason explaining why so much of the above number are produced from investments aboard.

Alexei Sidorov, the Chairman of ARFIN, states one of the crucial reasons why Belarus has seen such a  surge is that is has great advantages over other jurisdictions, including a 1:200 leverage cap (which for mainland Europe is unheard of).

Despite these numbers, the war in Ukraine has had repercussions for Belarussians. Many international authorities are pointing to Belarus in being indirectly involved in Russia’s offence in Ukraine.

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