Forex trading in Ghana is strictly regulated under the Foreign Exchange Act, 2006 (Act 723), which vests exclusive authority in the Bank of Ghana to licence and supervise all forex dealings in the country (1).
Only institutions authorised by the Bank of Ghana—namely universal banks and licensed forex bureaux—may offer foreign currency trading services. Engaging in forex transactions through unlicensed online platforms or individuals is expressly prohibited (1).
"Section 3(1) of the Foreign Exchange Act, 2006 (Act 723) prohibits persons from trading in foreign exchange (online or otherwise) without a licence from the Bank of Ghana."
The Foreign Exchange Act itself outlines the licensing requirements, application procedures, and penalties for non-compliance. Contraventions—including operating without a valid licence—attract fines and potential imprisonment under Sections 26 and 27 of Act 723 (2).
Source:
https://www.bog.gov.gh/wp-content/uploads/2022/06/BOG-Notice-BG-GOV-SEC-2022-07-Foreign-Exchange-Bureau-Daily-Graphic-Publication-reviewed-clean-1.pdf
https://sec.gov.gh/wp-content/uploads/Securities-Industry-Laws/Foreign-Exchange-Act-2006-Act-723.pdf
Last updated: 17-05-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
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