Justforex Suspends Services for Clients from Russia and Belarus

Justforex, a global forex broker Forex Broker In the forex space, a broker is any company that can provide traders with access to a platform that permits the buying and selling of multiple currencies.The retail forex industry has grown over the past two decades to include every major jurisdiction, which in turn has necessitated new regulatory oversight. Relative to the institutional sector, retail brokers are rather small portion of the greater forex market. However, traders can rely on brokers for leveraged trading in a 24-hour-a-day marke In the forex space, a broker is any company that can provide traders with access to a platform that permits the buying and selling of multiple currencies.The retail forex industry has grown over the past two decades to include every major jurisdiction, which in turn has necessitated new regulatory oversight. Relative to the institutional sector, retail brokers are rather small portion of the greater forex market. However, traders can rely on brokers for leveraged trading in a 24-hour-a-day marke Read this Term, announced on Tuesday that it had decided to terminate all business relationships with clients from Russia and Belarus. According to a statement published on its website, the company decided on the latest developments concerning the Russian-Ukrainian war crisis.

“Firstly, our company has decided to terminate all relationships with clients from the Russian Federation and Belarus. Opening new accounts for clients from these countries is prohibited. Furthermore, our company decided to make a donation for the needs of the Armed Forces of Ukraine. Ukraine should not be alone in this struggle,” Justforex noted.

Additionally, the firm expressed its point of view about the military actions in Ukraine on what they named a 'real war' and the 'consequences of the military aggression of the Russian federation', followed by accusations made by the firm about the nature of the war.

That said, Justforex published crypto wallets available for donation to support Ukraine and provide humanitarian assistance in the country. Also, it released a series of remittance data for people who want to send funds in several currencies to provide support, asking to “stop the war in Ukraine.”

Russia Boycott: PayPal Joins the List

Financial services provider PayPal joined over the weekend a list of other leading financial firms in seizing operations in Russia.

According to Dan Schulman, the President and Chief Executive Officer of PayPal, the company stands with the people of Ukraine. For its employees in Russia, the company is providing all possible support.

“PayPal supports the Ukrainian people and stands with the international community in condemning Russia’s violent military aggression in Ukraine. The tragedy taking place in Ukraine is devastating for all of us, wherever we are in the world. I want to share with you that we have suspended PayPal services in Russia. We have worked closely with governments and partners to actively comply with all applicable laws and sanctions and to fulfil our responsibilities to our global customers,” Schulman said.