Forex Club is a group of companies participating in the retail market of Forex. The Libertex brand operates and its structure includes financial and educational companies.
History
The company was founded in 1997. In 2010, it acquired 100% of the shares of the Russian forex broker "Аkmos Trade". The brand remained and is included in the Forex Club group of companies. In 2012, Quadro Capital Partners acquired a minority shareholding in the Forex Club group of companies, the amount of the transaction has not been indicated. In December 2013, Forex Club and Quadro Capital Partners founded the Venture Capital Fund FXC-QCP VC, with a volume of up to $200 million. In January 2015, Forex Club organized the project Living Collection of Private Investments at its customer service office, an interactive exhibition on the history of investment and disposition of private capital. In December 2015, in accordance with the Foreign Exchange Market Law of Russian Federation, Forex Club submitted an application to Central Bank to obtain the Russian Forex broker license; in June 2016, the Bank of Russia rejected the company's application. According to company representatives, after resolving certain formal observations, a new application was submitted to the Central Bank. In October 2016, Forex Club received the license. According to the National Foreign Exchange Centre of the Belarus] Stock Exchange, the company ranks first "in terms of the volume of transactions of customers with non-deliverable over-the-counter instruments of customers on all underlying assets among the foreign exchange companies included in the register of the National Bank of Belarus". In January 2019, the Russian government revoked the license. On February 4 2020 Forex Club signed an association agreement with the authorized forex broker "Alfa-Forex", this agreement allowed Forex Club to return to work with the citizens of the Russian Federation.
Libertex
In June 2015 Forex Club launched the trading platform Libertex. The midfielder of Real Madrid, James Rodríguez, was the brand's ambassador in 2017 and 2018. Libertex was recognized as a member of FinaCom in 2018.
Activity key figures
According to Finmarket information agency data, in 2014 Forex Club ranked among the three Russian Forex brokers with the highest number of clients and monthly turnover volumes. At that time, the number of active clients of the company was 71,830 people, representing 16,97 % of the market. ). The company's average monthly turnover was $63.32 million, representing 18.09% of the market. In 2015, the trio of leaders was the same. According to the number of customers:
According to the study Interfax-SEA, the number of offices and branches of Forex Club company is 41 in Russia and 18 abroad.
Administration
In the years 2012-2013, :ru:Теплухин, Павел Михайлович|Pavel Teplukhin headed the Board of Directors of Forex Club. In March 2013, this position was filled by the founder and CEO of the company, Vyacheslav Tarán. In July 2015, the position of Chief Executive Officer was filled by former Executive Vice President and Chief Financial Officer Michael Giger.
Critics
In 2010, it was reflected in the media that the capital of Forex Club Financial Company, Inc. as of January 31 did not correspond to the licensing requirements. Company management explained that the license capital is, in fact, the money frozen, and that the company was trying to keep it at the minimum acceptable level. According to the Vice President of Forex Club FС Piotr Tatarnikov, the main cause of capital decrease was the growth of client positions. Finally, it was increased by 1.5 million dollars, and the company paid a fine of 10000 dollars to the National Futures Association of the USA. In 2012, the NFA fined the company $300,000 for errors in reporting and irregular transmission of information about new customers to U.S. anti-money laundering services in the area of finance :en:Financial Crimes Enforcement Network|FinCEN and :en:Office of Foreign Assets Control|OFAC.
