Russian traders will pass knowledge tests

The Central Bank of Russia has decided to protect traders and stock investors from excessive losses. How? After talks with lobbyists and representatives of brokerage houses, it was decided that investors would ... perform a test that would prove that they know what the financial markets are all about. Such ideas appeared in August last year, when there were plans limitation of financial leverage.

It is estimated that several million Russians will have to pass the test. If they fail, they will not have access to foreign financial markets and they will not buy shares of foreign companies. All this is to cause that individual investors' losses will be significantly reduced.

Similar regulations have already been introduced in Poland. Read in the article: Experienced customer and 1 lever: 100

The decision is the result of attempts to limit access to markets for non-professional investors. Experts argued that they lack both knowledge and experience, which translates into poor trading results. It ends excessive risk, which in most cases translates into real financial losses.

Brokerage houses did not want to change

However, the idea was criticized by representatives of brokerage houses. Lobbyists also took up the cause and led to a softening of the originally planned form of change. Currently, it has been decided that investors will have to complete a test, which will allow them to continue operating on the market.

"The tests we have agreed with local government organizations regarding the division of investors into" qualified "and" unskilled "investors will be a natural barrier against emotional purchases, said the vice president of the Central Bank of Russia, Sergey Schevov, at a press conference.

5-10 questions to investors

For now, it is not known exactly what the questions will be about, but we already know that there will be five to ten.

"The legislator will want to implement the test proposals this month," admits Anatoly Aksakov, chairman of the financial committee of the lower house of the Russian parliament, which was working on the draft amendment.

According to representatives of the Central Bank of Russia, the number of people interested in foreign shares and bonds is still growing in this country. Data from the Moscow Stock Exchange show that it already has over 3 millions of retail clients. The numbers investing on the Forex and cryptocurrency market cannot be realistically determined, but it can be assumed that their number is also calculated in millions.