Regulatory organization of the ASSOCIATION


UCRFIN (Ukrainian center for the development of OTC financial instruments and technologies) is a non – profit Association of leading brokerage companies in Ukraine provide financial services on the Forex market. UCRFIN Association was formed in 2013 by leading international brokers having their representative offices in Ukraine: TeleTrade, Forex club and RoboForex. The main objectives of the ASSOCIATION are:

  • the consolidation of brokers ' actions aimed at improving of the Forex market in Ukraine;
  • the introduction of rules of conduct and common standards of brokers in Forex market;
  • the development of the legal and legislative base of Ukraine in the field of financial services;
  • monitoring of compliance with internal standards members of the Association and other participants of financial market of Ukraine;
  • increasing the transparency and reputation of the Forex business in Ukraine by conducting informational and educational activities;
  • the assisting members in protecting their rights and interests in different institutions and public authorities;
  • review of customer complaints to members of the Association;
  • preventing the dissemination of fraudulent actions.

In the financial market of Ukraine recent flare up scandals around the various financial companies. The lack of adequate regulation of the Forex market at the legislative level has resulted in the emergence of numerous "kitchen" brokerage firms, as well as negative reviews. Existing financial regulators, the Ukraine is weak and is not able to protect the interests of traders. Was no exception and UCRFIN. At the time of creation of the Association in 2013 there were three brokerage companies. The plans of the ASSOCIATION was that by the end of 2014, the Association will include about 70% of all brokers of Ukraine. But at the end of 2016 in the register of members of the Association we observed the same three brokerage companies. This suggests that the ASSOCIATION failed to deliver on note expectations and became one of the formal regulator, it is able not only to protect the rights of traders and provide at least some beneficial effect on the Forex market.