While financial market traders are now interested in Telegrams Financial Trading Channel, many ask if the messaging app is ideal for communicating trading info. Not a few are concerned about the security of connecting a trader’s Meta Trader account to a messaging app in order to receive trading signals. At the same time, Telegram’s Connector software enables traders to send trading instructions to their brokers in real time.
Usually, alarm bells ring by the mere mention that Telegram is of Russian origin, especially among U.S. traders. Yet once the skeptical ones got a clear picture of the Russian developers behind the Telegram app and their steadfast resolve to keep intact the integrity of the messaging app, all doubts about Telegram disappeared.
The Truth About Telegram and Its Russian Origin
Telegram’s messaging and financial trading channels are currently served by a Germany-based company called Durov Software Industry, a company founded by two Russian brothers named Nikolai Durov and Pavel Durov, While it is true that they first started out in Russia, they later moved out of the country and established their business in Berlin, Germany,
The Telegram app uses end-to-end encryption backed by a strictly observed company policy of not allowing any third party to look into anyone’s communications. Roskomnadzor, the Russian executive body responsible for media control, censorship, and supervision, had demanded that Telegram be included in the government’s list of information distributors. The condition would have placed the Durov brothers under obligation to hand over private information to the government.
The brothers Durov instead moved their company to Germany and from there provided their Telegram services without undue pressure. Although Telegram’s IP address was blocked by Roskomnadzor, the messaging app was still accessible to Russians by way of Virtual Private Network (VPN). That being the case, Telegram remained in wide use among Russian citizens and has in fact become a leading service provider for many of Russia’s leading news channels.
The very fact that the company refuses to compromise the integrity of their messaging app, is reason enough for most Russians to keep using Telegram. In June, 2020. Reuters said that the Russian government has temporarily lifted its ban on Telegram.
China and Iran Also Banned Telegram
China has also banned Telegram, which many presume as due to its direct competition with the state-owned WeChat App. While another reason for the ban includes Telegram’s refusal to give the Chinese government backdoor access that would allow peeping into private messages,
It’s also widely believed that Telegram played a crucial role in helping many of Hong Kong’s protesters. Reports have it that Telegram allowed communication to flow freely among the HK protesters and at the same time helped keep identities hidden, since Telegram gave them a different kind of privacy settings.
Similarly, Pavel Durov in his role as CEO of Telegram, denied the same request put forward by Iranian authorities as a way to obtain private information that will let the government spy on Iranian citizens. The refusal of course, resulted in the blocking of Telegram in Iran, but later unblocked after Pavel Durov made ithe request known to the public; and that the company’s refusal was the main reason for the blocking of its messaging services in Iran. .