Another European Broker Closing Accounts Of Belarusians

What should investors do?

Belarusian clients of the EXANTE broker began to receive notifications that their accounts will be forcibly closed within 14 days. The expert told Office Life what investors should do in this situation.

EXANTE asks clients, who are residents of Belarus, to liquidate their positions within two weeks. They are offered to transfer them to another broker. At the same time, withdrawal of assets to Russia or Belarus is impossible.

OL investment advisor, founder of the ‘Private Capital’ and LK Finance Uladzimir Savenok explained that EXANTE has been getting rid of clients from Belarus for a long time. But until now, the broker has been closing mostly inactive and small accounts.

It was a very convenient and inexpensive broker for investors with access to all instruments. Now they have decided to bring the process to the end - to close accounts for all Russians and Belarusians. At the same time, the accounts are not closed if the client can confirm his address outside Belarus or Russia, i.e. has a residence permit in another country,’ says the specialist.

What can be done now? The expert advises to use one of two options. First: to close the account and transfer the money to the bank. But in this case you will have to open an account in a foreign bank.

The second way: open an account with another broker and transfer assets there. ‘To date, the most accessible broker is Freedom Global Kazakhstan. They open accounts online and can accommodate assets from other brokers,' says Uladzimir Savenok.

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