Forex Club

Forex Club is a top 3 Russian Forex market group of companies
History
In 2010, the company acquired 100% shares of the Russian Forex broker Akmos Trade. The Akmos Trade brand was preserved as a part of Forex Club group of companies.
In 2012, Quadro Capital Partners purchased a minority share in the Forex Club group of companies for an undisclosed amount. In December 2013, Forex Club and Quadro Capital Partners established a venture fund FXC-QCP VC with a capitalization of around USD200,000,000.
In January 2015, Forex Club presented its Live Collection of Private Investments in the company’s Client Service Office. This interactive exposition was designed to both entertain guests and educate them on the history of investments and private capital management.
In December 2015, Forex Club applied for Russia’s Central Bank forex dealer license, as required by Russia’s Forex Law. However, in June 2016, the Bank of Russia denied the application. According to Forex Club, after addressing all the issues identified by the Central Bank, the company was planning to re-submit its application. In October 2016, Forex Club was granted a license.
In April 2016, Forex Club was registered in the National Bank of Belarus forex traders roster and became the first Russian company to receive a Belarus license.
Operational Statistics
According to Finmarket information agency, in 2014, Forex Club became a top 3 Russian Forex dealer, based on the number of clients and average monthly turnaround. The company has 71.83 thousand active clients or a 16.97% market share, which is second-largest after Alpari, with its 120 thousand clients and a 28.35% market share. The company’s 2014 monthly average turnaround was USD63.32 bn or 18.09% of the market, surpassed only by Alpari’s USD107 bn or 30.56% of the market.
The 2015 Top 3 in the above categories did not change. Client base: Alpari - 137,000 clients or a 29.5% market share; Forex Club - 80,000 clients or a 17.2% market share; TeleTRADE - 61,000 clients or a 13.1% market share. Monthly average turnaround: Alpari - USD90 bn or a 27.1% market share; Forex Club - USD54 bn or a 16.2% market share; TeleTRADE - USD45 bn or a 13.5% market share.
According to Interfax-Center for Economic Analysis, Forex Club has 41office in Russia, and 18 offices in other countries. In March 2013, the position was taken over by Forex Club founder and CEO Viacheslav Taran. In July 2015, Executive Vice-President and CFO Michael Geiger became the company’s CEO.
Criticism
In January 2010, mass media published allegations of Forex Club Financial Company Inc. (USA) failure to meet the minimum license capital requirement of USD20 million, falling short by USD392,000 as of January 31. In November 2009, the capital of Forex Club equaled USD24.3 million; however, by January 31, 2010 it had gone down to USD19.6 million or by 19.4%. The company management explained that license capital is essentially “frozen” money; therefore, the company tries to maintain it at a minimal permitted level. According to Peter Tatarnikov, Forex Club Vice-President, the capital decreased mostly due to the growth of clientele. Ultimately, the capital was increased by USD1,5 million, and Forex Club was fined USD10,000 by the US National Futures Association (NFA).
In 2012, NFA fined Forex Club $300,000 for erroneous reporting and irregular new client filings with the US anti-money laundering authorities FinCEN and OFAC.

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