The company continues to work with Russian clients, but the replenishment of accounts in rubles will soon be closed. According to official information, support for the Russian currency will end on July 31.
Interactive Brokers has sent out alerts to clients in Russia, warning them that they will stop working with Russian currency next month. The information received by the media was confirmed by representatives of the company in Europe.
Broker clients receive conflicting information. One of them received a message from Interactive Brokers technical support that ruble transfers would be prohibited at the end of July, and the other was informed that it was already prohibited to replenish a client account with rubles. Previously, the brokerage company accepted transfers in rubles, but only if the bank is not under any Western sanctions.
Alina Ananyeva, the broker’s account administrator, believes that the current restrictions may be caused by an increase in ruble transfers. For working with currency, the broker charges a commission, and transactions in rubles have so far been carried out free of charge. Also, experts believe that the broker may resort to forced conversion of rubles into one of the foreign currencies.
Even at the end of winter, the media reported that Interactive Brokers had notified its clients about the possible cessation of work and blocking of client accounts for citizens of the Russian Federation, but this has not yet happened. This month, the brokerage company has already notified its Russian and Belarusian clients about the change in conditions. After the adoption of the sixth package of sanctions by the European Union, citizens of both countries lost the opportunity to open any positions with European securities.