UBK Markets who have recently acquired a full CySEC investment firm licence, is a new start up currently in beta mode. The brokerage has been founded by the Russian Forex entrepreneurs who currently operate a couple of automated trading products (namely FXMarketWave.com and GeleanTrawler). You may have not heard of these programs due to the fact that they are largely marketed towards the Russian Language market.  

It appears that the FXMarketWave program will play an important part of the new brokerage, with the program advertised on the front page of the UBK Markets beta test website. The FXMarketWave program is a technical analysis which relies heavily on Elliot Wave Theory. While Wave Theory isn’t widely popular in Western Europe the technique is widely used by a variety of successful Russian traders. 

The idea behind the brokerage appears to be to provide a Forex trading environment which caters strongly to the desires and wishes of the average retail trader in Russia. Whether UBK Markets is a successful venture will largely depend on whether it can get a hold in the CIS Market which is currently dominated by Alpari. Alpari’s Russian operation currently accounts for 50-60% of the Over-the-counter Forex volume in the CIS Countries. 

If UBK Markets comes up with a solution which is attractive to Russian consumers there is no reason why they can’t capture a share of this lucrative marketplace. We will keep you up to date with going on’s at UBK Markets and inform are readers if they ever provide English language support.