Veles International Ltd

Veles International Ltd is a Cyprus-based investment firm that has been operating since 2006 under the regulation of the Cyprus Securities and Exchange Commission (CySEC). It holds a CIF licence (authorization number CIF075/06) issued on 20 September 2006, authorising it to provide investment and ancillary services. The company positions itself as a brokerage service provider serving individuals, legal entities, and financial institutions, with a focus on international markets, particularly Russian and global financial markets.

According to its official website, the broker offers services such as reception and transmission of client orders, execution of client orders, safekeeping and administration of financial instruments, and granting credits or loans to investors. These services are provided in accordance with its CySEC licence and the MiFID II regulatory framework. The firm's registered address is in Nicosia, Cyprus, and it maintains active trading lines with a wide range of financial institutions globally.

Veles International is regulated by CySEC, a well-known European regulator, which subjects the firm to MiFID II requirements. The company's licence number CIF075/06 is publicly verifiable on the CySEC register. However, it is worth noting that CySEC has taken regulatory actions against the firm in the past.

In 2024, CySEC imposed measures against the sole shareholder, Dmitry Bugayenko, citing concerns over his influence on the firm's management. These measures were lifted in February 2026 after a review of new facts, according to regulatory announcements. Such actions are relatively rare and indicate that the regulator has scrutinised the firm's governance.

The broker maintains a risk notice on its website, warning clients of the risks associated with leveraged financial products, including the potential to lose more than the initial invested capital. It also provides a Costs and Charges Disclosure Document as required by MiFID II, detailing upfront costs and charges. This documentation suggests a degree of transparency, though the actual cost structure depends on the client's specific arrangements.

Veles International caters to three distinct client categories: individuals, legal entities, and financial institutions. For individual clients, the broker offers brokerage account services designed to invest excess liquidity, with a process that requires reviewing the Regulations for Provision of Brokerage and Custody Services and signing an agreement. The website suggests a personalised approach, but no specific account tiers or minimum deposit requirements are disclosed on the site.

For legal entities, the broker provides services to conduct trading deals using a large arsenal of financial instruments on Russian and global stock markets, with flexible terms. Financial institutions receive tailored services, including MiFID II Terms of Business and standard compliance documentation. The broker also provides foreign exchange services where connected to investment services, indicating a multi-asset offering. While the exact range of instruments is not specified, the mention of 'global stock markets' suggests equities, bonds, or derivatives may be available.

The broker's website emphasises a 'modern technological base' and 'flexible customized trading solutions', but it does not explicitly name any trading platforms (e.g., MetaTrader 4/5, cTrader). This omission suggests that Veles International may use proprietary or less common platforms, or that platform details are disclosed only after client onboarding. The lack of platform information could be a drawback for traders who prefer industry-standard interfaces with advanced charting and automated trading capabilities.

Given the broker's focus on institutional and legal entity clients, the trading technology may be more suited for professional and high-volume traders. Retail clients might find the absence of demo accounts, mobile apps, or educational resources concerning, although these are not confirmed absent from the full service offering. The website's minimal technical details limit the ability to assess the platform's suitability for different trading styles.

Veles International provides an Ex-ante Costs and Charges Disclosure Document in compliance with MiFID II, which outlines expected aggregated costs and charges for its investment services and financial instruments. This document is available on the website, though the specific fee structure (commissions, spreads, custody fees, etc.) is not summarised on the main pages. The broker's cost structure likely varies based on client type and the services used, with tailored pricing for institutional clients.

The historical versions of the disclosure document indicate that the broker has updated its costs over time, which is a positive sign of regulatory adherence. However, the lack of transparent pricing on the website means potential clients must contact the firm or review the PDF to understand the full cost implications. For retail traders, this opacity can be a disadvantage when comparing brokers.

The broker provides contact details including a physical address in Nicosia, Cyprus, a telephone number (+357 22 873327), a fax number, and an email address (info@veles-int.com). The website does not mention live chat, 24/7 support, or multi-language options, which may limit accessibility for international clients. The contact form is standard, and the response time is not indicated.

Client support appears to be geared towards a professional clientele, with documentation and agreements available in English. The broker's risk notice and compliance documents are also in English. For retail traders accustomed to modern customer service channels, the absence of instant messaging or social media presence could be a drawback. However, for institutional clients, the provided channels may be sufficient.

Veles International is a CySEC-regulated brokerage that primarily serves institutional clients, legal entities, and high-net-worth individuals. Its services are tailored for those seeking a regulated entity with a focus on execution and custody services, particularly in Russian and global markets. The broker's history of regulatory measures, though now resolved, adds a layer of caution for prospective clients.

Retail traders looking for low-cost, transparent, and user-friendly platforms may find Veles International lacking in information and technology. The absence of detailed trading conditions, platform names, and educational resources suggests the firm is not optimised for the mass retail market. Instead, it suits professional traders or institutions that value regulatory compliance and bespoke service over self-service trading. Our risk score of 34/100 (Guarded) reflects the regulatory actions and information gaps, making due diligence essential before engaging with this broker.