JustForex has announced the suspension of services to Russian and Belarusian clients following a new regulatory framework. The platform will be suspended on February 19, 2019 at 5 p.m GMT until further notice for these countries which JustForex believes may no longer meet the minimum standards required by their Financial Services and Market Act (FSMA).
JustForex, a global forex broker, has stated that it has chosen to stop doing business with customers from Russia and Belarus. The decision was made as a consequence of the continuing sanctions against Russia as a result of the country’s invasion of Ukraine, according to the corporation.
JustForex said in a news release that opening new accounts for customers from certain countries is forbidden. In addition, as a gesture of unity and support, the corporation will make contributions to the Ukrainian Armed Forces. JustForex went on to say that Ukraine should not be fighting alone, and that it has chosen to support them.
JustForex Launches a Crypto Wallet To Support Ukraine
JustForex went on to offer its opinions on the conflict and the Russian Federation’s military operations against Ukraine.
Following Russia’s invasion of Ukraine, the West imposed a series of trade restrictions, which have harmed Russian-linked enterprises operating in other parts of the world.
JustForex has also made cryptocurrency wallets accessible for contribution in support of Ukraine’s anti-Russian campaign. The firm has also supplied humanitarian aid and issued a series of remittance statistics for anyone interested in giving money to help stop the conflict in Ukraine.
More companies are ceasing operations in Russia.
In addition, some foreign-based enterprises operating in Russia have halted operations, claiming the invasion of Ukraine and ensuing prohibition as the cause. JustForex has gone a step further this time, prohibiting Russian users from making any transactions on its site.
Meanwhile, PayPal, a worldwide financial services company, has joined a lengthy list of major financial institutions that have ceased business in Russia. PayPal’s President and Chief Executive Officer, Dan Schulman, emphasized that the corporation is providing unwavering support to the Ukrainian people. The company also indicated that it is providing all possible assistance to its staff in Russia in order to help them cope with the situation.
