Forex trading in India is legal but strictly regulated. The Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI) permit currency trading only through authorized dealers and platforms. Individuals cannot trade forex pairs involving the Indian rupee (INR) on international markets, per the Foreign Exchange Management Act …
Forex trading is prohibited for individual investors in Iraq. The Central Bank of Iraq (CBI) regulates all financial activities, and under Resolution 112 of 2016, only licensed banks and financial institutions may engage in currency exchange or trading. Retail forex trading via online platforms is not explicitly addressed in Iraqi law …
Forex trading is legal in South Korea but operates under strict regulatory oversight. The Financial Services Commission (FSC) mandates that only licensed domestic brokers can offer leveraged currency trading to residents. Offshore brokers are prohibited from targeting South Korean clients, and accessing international platforms via VPNs violates local laws. Retail …
Forex trading remains illegal in Sudan under the country’s current regulatory framework. The Central Bank of Sudan prohibits all forms of currency speculation and unlicensed foreign exchange transactions, citing adherence to Islamic finance principles and efforts to stabilize the national economy. Violations can result in fines, asset seizures, or criminal charges under …
Forex trading is not explicitly legal under Afghan law, but no active enforcement prevents residents from accessing international brokers. Afghanistan’s central bank, Da Afghanistan Bank (DAB), banned forex trading in 2019 under Presidential Decree 4968, citing risks of money laundering and capital flight. The Taliban’s 2021 takeover voided many previous …
Forex trading is legal in Kenya under the Capital Markets Act, regulated by the Capital Markets Authority (CMA). Established in 1989, the CMA oversees all forex brokers operating within the country, requiring them to obtain a license and maintain a minimum capital reserve of KES 50 million. Retail traders can …
Forex trading is legal in Mexico under strict regulatory oversight. The National Banking and Securities Commission (CNBV) and the Bank of Mexico govern financial markets, including foreign exchange. Brokers must obtain authorization from these institutions to operate legally. Verify a broker’s registration status on the CNBV’s official registry before opening an account. Mexico’s Financial Technology …
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 …