Markets4you Exits Belarus Amid Market Crisis
Forex4you ceased operations in the Belarusian market following a substantial decline in the industry over the past year.
Forex broker Markets4you, which had been operating in Belarus, closed its representative office in Minsk, reducing the number of licensed forex companies in the country it becomes only six.
This move also led to the suspension of their Belarusian website, Markets4you.by, reflecting the ongoing challenges in the Belarusian forex market. According to a report from FinanceMagnates RU, the Belarusian forex industry has experienced a significant decline over the past year, with a sharp decline in the number of active clients and transactions.
Earlier this year, the company changed its name to Markets4you, updating its website and brand identity, including removing Russian language sites. Despite these efforts, the overall market decline cannot be reversed. The National Bank of Belarus reported an alarming 85% drop in forex transactions between early 2023 and early 2024, indicating a severe slowdown in market activity.
Forex broker Markets4you, part of the E-Global Trade & Finance Group, was initially one of 32 companies licensed when the market Belarus is deregulated. However, with their exit, the forex industry in Belarus has become more concentrated, raising concerns about the future stability of the market.
This high leverage broker has been operating for 17 years and serves more than 2.9 million traders and 52,000 partners worldwide, advises its clients to close their positionsat fair market value before stopping opening new positions. The exact reasons behind the company's departure remain unclear, but it adds to the list of brokers exiting the Belarusian market amid declining activity.
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