Forex trading is legal in Bermuda under the regulatory oversight of the Bermuda Monetary Authority. The BMA supervises, regulates and inspects financial institutions operating in the jurisdiction, issues Bermuda's national currency, manages exchange control transactions, assists other authorities with the detection and prevention of financial crime, and advises Government on banking and other financial and monetary matters (1). The BMA is the sole financial regulator in Bermuda responsible for the regulation and supervision of banks, insurance companies, investment business providers, investment funds, trust companies, corporate service providers and money service businesses.
The Bermudian dollar is pegged to the United States dollar at a rate of 1:1, meaning that $1 USD will always be equal to $1 BMD regardless of changing economic conditions (2). Bermuda law allows both local and internationally licensed brokers to offer services to investors located in Bermuda. All legitimate domestic brokers must be licensed by the Bermuda Monetary Authority, but international brokers may still operate legally within the country with oversight by a recognized international regulatory body such as the Australian Securities and Investment Commission.
"The BMA supervises, regulates and inspects financial institutions operating in the jurisdiction. It also issues Bermuda's national currency, manages exchange control transactions, assists other authorities with the detection and prevention of financial crime."
The BMA acts as controller of foreign exchange and enforces high standards for forex-related investment firms, institutional currency trading, and fund management (2). While the BMA does not license speculative retail forex brokers in the same way as Tier-1 regulators, it does issue licenses for investment businesses that may offer foreign exchange derivatives, currency funds, or institutional forex services. There are no limitations on the inflows or outflows of funds for legitimate forex transactions in Bermuda.
Source:
https://www.gov.bm/department/bermuda-monetary-authority
https://www.benzinga.com/money/forex-trading-in-bermuda
Last updated: 15-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
