Forex trading is legal in Costa Rica and operates under the supervision of the country's financial regulatory framework. The primary regulatory authority overseeing financial activities is SUGEF (Superintendencia General de Entidades Financieras), which is responsible for supervising banks, non-bank financial institutions, broker-dealers, and other financial organizations (1). SUGEF operates under the broader oversight of CONASSIF (National Council for the Supervision of the Financial System), which provides uniformity and integration to regulatory activities across Costa Rica's financial system.
The regulatory framework in Costa Rica has been strengthened significantly in recent years, particularly following the country's accession to the OECD. These changes have enhanced the Costa Rican Central Bank's independence and granted broader powers to financial supervisory authorities (2). The Regulatory Law of Securities Market, No 7732, establishes the legal foundation for financial regulation and creates the regulatory bodies responsible for supervising various financial entities and their activities.
"Trading in the Forex market is legal in this jurisdiction. Transactions with clients' finances require the correct organization."
Financial entities operating in Costa Rica, including those involved in forex trading, must comply with SUGEF's comprehensive normative framework and registration requirements. All private financial institutions must obtain SUGEF registration to operate legally and access local banking services. This regulatory structure is designed to protect customers, ensure compliance with financial laws, and maintain the stability and integrity of Costa Rica's financial system.
Source:
https://sb-sb.com/services/invest/forex-licenses/costa-rica/
https://www.ibanet.org/oecd-cost-rica-banking-law
Last updated: 31-05-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
