In response to increased international investment risks in recent years, Belarusian retail broker MTBankFX has announced that it will cease its international investment business as of June 1, 2024.。

Responding to Rising International Investment Uncertainty

The decision comes against the backdrop of a series of challenges faced by Belarusian investors, including the freezing of foreign securities, significant obstacles to international currency transfers and the urgent need for rapid divestiture of assets.。MTBankFX said it was taking all possible steps to reduce the risk.。However, they acknowledge the continuing trend of uncertainty and potential limitations when working with numerous third-party entities.。

According to an official statement issued by MTBankFX, customers are advised to close their existing positions at fair market value by 30 May 2024.。In addition, the bank will suspend the opening of new positions from April 15, 2024.。For clients seeking to continue doing business with over-the-counter financial instruments, MTBankFX is actively exploring options for transitioning to other Belarusian financial firms.。

Belarus's Financial Landscape: Volatility in OTC Forex Trading

According to Finance Magnates, the financial landscape in the Republic of Belarus has undergone significant changes, especially in the field of over-the-counter (OTC) foreign exchange transactions.。Recently, retail broker Fortrade was revoked its authorization in Belarus after five and a half years, the Belarusian Regulatory Registry reported.。Once hailed as an emerging financial hub in Eastern Europe, Belarus has struggled to deliver on its promises, causing its markets to slide rapidly.。

Since the establishment of the legal framework for OTC foreign exchange, 32 companies have been authorized in Belarus, but over the years 23 companies have withdrawn from the market for various reasons.。These developments reflect the changing geopolitical landscape and regulatory changes reshaping the financial sector in Belarus, prompting local and international players to adapt to new realities or withdraw from the market altogether.。