Forex trading for Iranian residents is technically illegal under current Iranian law. The Central Bank of Iran (CBI) prohibits individuals from engaging in foreign exchange transactions outside officially regulated channels, which are limited to banks and licensed institutions. Violations can result in fines, asset freezes, or imprisonment under Article 11 …
Forex trading through international brokers is illegal for residents of Vietnam. The State Bank of Vietnam (SBV) strictly prohibits individuals and organizations from participating in offshore forex markets. Only licensed domestic banks and financial institutions can offer currency exchange services, per Decree 88/2019/ND-CP. Violations carry fines of VND 150–200 million ($6,000–8,000) …
Yes, forex trading is legal in Egypt, regulated by the Egyptian Financial Regulatory Authority (FRA) since 2018. All brokers operating locally must hold FRA licenses, ensuring compliance with strict capital adequacy and risk management standards. Platforms like Exness, XM, and FxPro are popular choices due to their FRA registration and …
Forex trading through international brokers is illegal for individual residents in Ethiopia. The National Bank of Ethiopia (NBE) prohibits citizens from engaging in foreign exchange markets outside its authorized channels. Directive FXD/49/2021 explicitly bans trading platforms not licensed by the NBE, restricting forex transactions to approved banks and authorized institutions. Ethiopia’s …
Forex trading is prohibited for Algerian residents under national law. The Bank of Algeria, the country’s central financial authority, reinforced this stance through revised foreign exchange regulations in 2021. Article 113 of the 2021 Finance Law explicitly bans individuals and entities from engaging in speculative currency trading outside authorized banking channels. …
Forex trading is legal in the Philippines, but strict regulations apply. The Bangko Sentral ng Pilipinas (BSP) oversees forex activities under the Foreign Exchange Transactions Manual, requiring brokers and traders to comply with registration, reporting, and licensing rules. Only BSP-authorized entities can offer forex services, and individuals must trade through licensed …
Forex trading is legal in Japan but strictly regulated by the Financial Services Agency (FSA). All brokers must register with the FSA under the Financial Instruments and Exchange Act (FIEA). Unregistered offshore platforms are prohibited from offering services to Japanese residents, and using them risks account closure or legal penalties. …
Forex trading is legal in Russia, but strict regulations apply. The Central Bank of Russia (CBR) governs all forex activities, requiring brokers to obtain a license under Federal Law No. 39-FZ “On the Securities Market.” Unlicensed entities are banned, with the CBR maintaining an official register of authorized brokers since 2018. …
Is forex trading legal in Bangladesh Forex trading in Bangladesh is strictly regulated by the Bangladesh Bank and permitted only through authorized institutions. Residents can legally engage in spot forex transactions for purposes like trade, education, or medical expenses via banks like Sonali Bank or Agrani Bank. However, speculative trading through margin …
Forex trading is legal in Brazil, but only through brokers regulated by the Central Bank of Brazil (BCB). The BCB enforces strict oversight under Resolution 4,539 (2017), which mandates that international brokers serving Brazilian clients must appoint a local representative and adhere to national financial regulations. Platforms like XP Investimentos and …