Countries where Forex trading is legal
Countries where forex trading is allowed
- United States
- United Kingdom
- Most countries in Central and Eastern Europe
Forex is only illegal in those countries where forex trading is prohibited. The first place that comes to mind are those countries that practice sharia law.
Examples are countries like Indonesia and Iran, where religious elements profoundly influence the laws. If you are a permanent resident in any of these counties, it will be hard to open an account with any legitimate retail forex broker.
To trade from these religious countries, you need a unique type of account called the Islamic Account or Swap-Free Accounts. Islamic states, mostly in the Middle East and Malaysia, are open to trading, and brokers in these regions use account types that do not involve either credit or debit with Interest.
Apart from these countries, Forex is entirely legal in most countries of the world. The main differences are the retail brokers. Some brokers are regulated while others aren't. You should be aware of the unregulated retail brokers.
Some countries that do not regulate Forex at all, like Israel, therefore in these countries it is all down to the reliability of your retail broker.
Then there are countries where the government controls the currency, example China. In most nations of the world, Forex is legal.