Reason for this visit

Russia-Ukraine conflict continues to worsen, while Russia keeps a “close” relationship with Belarus. At present, plenty of forex investors are deeply concerned about the current situation of forex brokers in Belarus for the upgrading of the war is likely to have an adverse effect on Belarus. In order to help investors or practitioners have a more comprehensive understanding of foreign exchange brokers in Belarus, the survey team is going to pay on-site visits locally.

On-site visit

The investigation team paid a visit to foreign exchange broker AM Markets in Minsk, capital and the largest city of Belarus as scheduled. The broker claims that they have a physical office at office 19, 117, Odoevski str., Minsk, 220015.

The field survey personnel came to the destination on February 1, 2023, where a 10-storey mansion is located. In front of it parked a wide range of vehicles including many trucks. And there were no other high-rise buildings around.

The survey team came to the mansion, but did not found office 19, which may be made up by the broker. After showing the purpose of visit, the investigation personnel were told by the security guard of the building that all the offices here have a three-digit number (the first one represents its floor number, and the remaining two the office number) instead of two-digit one. So the office 19 doesn’t exist. In addition, the team also dialed the phone number displayed by AM Markets, but were refused to enter into their office for a visit for no reason.

Conclusion

The investigators went to Minsk, capital of Belarus to visit the foreign exchange broker AM Markets as planned, but didn’t find the broker according to the regulatory address that it showed. Therefore, the broker’s forex regulatory information is not true. Investors are advised to stay alert to the broker. 

Disclaimer

The content is used for informational purpose only, and shall not be taken as a final order for making a choice.