Online Forex trading in Russia is legal and regulated by the Central Bank of the Russian Federation, which oversees the country's financial markets, safeguards the ruble, and ensures broader economic stability. Financial services providers must be licensed by the central bank to do business legally. Russia currently uses a floating exchange rate regime where foreign exchange rates against the ruble are determined by market forces rather than being fixed by the government or central bank (1).
The Bank of Russia organizes and exercises foreign exchange regulation and control pursuant to Russian Federation legislation, while also setting and publishing official exchange rates of foreign currencies against the ruble. In normal conditions, the Bank of Russia does not conduct foreign exchange interventions to influence the exchange rate, allowing it to function as a built-in stabilizer. However, the Bank may conduct foreign currency transactions to maintain financial stability when exchange rate movements threaten persistent devaluation expectations or financial sustainability (2).
"The Bank of Russia sees as a threat to financial stability such movements of the exchange rate which may induce persistent devaluation expectations, increase demand for foreign currency cash and the dollarisation of deposits, and materially deteriorate the financial sustainability of credit institutions and businesses."
Recent Western sanctions have significantly impacted forex trading in Russia, forcing the suspension of USD and EUR trading on the Moscow Exchange in 2024. This resulted in reduced price transparency and higher trading costs through wider bid-ask spreads. Active forex traders must pay personal income tax ranging from 13 percent for those earning up to 5 million rubles annually to 22 percent for incomes of 50 million rubles and above (1).
Source:
https://www.daytrading.com/ru/forex
https://www.cbr.ru/eng/dkp/exchange_rate/
Last updated: 15-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
