Forex

Tekhnobank Partners with XTB Group, Enters Belarus OTC FX Market

Tekhnobank OJSC introduced right this moment that it has entered into the over-the-counter (OTC) international change (foreign exchange) sector of the Republic of Belarus with the assistance of signed with X Open Hub, a member XTB Group, a Polish foreign exchange big, by launching a brand new service for making transactions on the OTC foreign exchange market.

This service, which is offered for Tekhnobank’s non-public purchasers, was launched this month, the assertion stated. The specialised software program is offered by way of the next URL, make investments.tb.by, and relies on X Open Hub’s XOH Trader, generally known as the xStation5 buying and selling platform.

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By partnering with X Open Hub, by way of the brand new service, purchasers have entry to greater than 1,600 OTC monetary devices and spreads from Zero pips. By utilizing the xStation5 buying and selling platform, Tekhnobank’s purchasers also can profit from its dependable execution utilizing the STP mannequin, monetary evaluation, present quotes, technical evaluation and extra.

Micheal Copiuk, the CEO of X Open HubMicheal Copiuk, the CEO of X Open Hub

Speaking on the collaboration to Finance Magnates, the CEO of X Open Hub, Micheal Copiuk famous: “We are very eager to accomplice with Tekhnobank – this strategic partnership will probably be very helpful to our firm. We consider that combining X Open Hub’s next-generation expertise and Tekhnobank deep data of the OTC markets within the Republic of Belarus, will allow us to supply purchasers with actually distinctive brokerage options.”

The new service additionally consists of damaging stability safety. This follow, whereas essential within the European Union due to regulation from the European Securities and Markets Authority, will not be required in Belarus.

Commenting on the brand new service, the Tekhnobank OJSC Operations Director Igor Fut stated (translated): “Cooperation with Tekhnobank will permit clients to get an expert software for performing operations with derivatives in a handy format of distant upkeep, high-quality, financially dependable and high-speed service.”

“We have a major activity – to alter the prevailing stereotype of the OTC Forex market and supply our purchasers options that transcend the boundaries of short-term high-risk operations. The means of registering, creating and replenishing an account to connect with the buying and selling platform is easy and doesn’t require a go to to the financial institution – the shopper identification process takes place remotely within the Virtual Client Personal Account (vlk.tb.by) service based mostly on passport information and doc photos.“

Tekhnobank was an early member of the Belarusian FX market

Tekhnobank was the second financial institution in Belarus to turn into accredited by the nation’s foreign exchange market regulator, after MTBank entered the market in July 2016 with the assistance of Dukascopy Bank’s expertise. Tekhnobank has 13 branches in Minsk and regional facilities all through Belarus.

 

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David

David is the founder of DebtDefined.com. The firm originates business financing for companies of all size in the Canadian marketplace . Originations include business loans, term loans, asset based lines of credit, SR ED Tax credit financing , and receivable financing .

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