BlueOrange is the first bank in Latvia to offer online opening of trading accounts

February 05, 2019

In January, BlueOrange received a permission from the FCMC for remote opening of accounts for trading on CFD and Forex currency markets. Thus, BlueOrange is currently the only bank in Latvia offering this type of service to private individuals also from abroad — residents of the European Economic Area countries and Switzerland.

Remote account opening means that customers do not have to arrive to the Bank or subsidiary in person. The required customer personal identification and opening of the trading account is performed online and settlements are carried out using an account opened by the customer with a credit institution in any Member State of the European Union.

“This is a sophisticated service that requires both advanced technologies and a great deal of professionalism, security and trust. Supply of trading services in financial markets is booming. Unlike other companies that offer similar services, we have two significant advantages: BlueOrange operates under a licence of a European bank and our activities are supervised by the local financial market regulator. This gives customers a significantly increased certainty about their investments and pay-out of earnings,” explains Grigorij Baratasvili, BlueOrange Brokerage and Margin Product Development Officer.

“Our goal is to develop this service at the level offered by international companies whose only specialisation is trading in the Forex and CFD markets. Our team has a long history of experience in financial markets and we believe that we will succeed in this. The fact that we are the first bank in Latvia and in the Baltic States, gives us some advantages and faith in good results,” adds Grigorij Baratasvili.

For more details, please visit this webpage.