Forex trading is legal in Grenada and operates under a regulatory framework overseen by the Eastern Caribbean Central Bank and the Grenada Authority for the Regulation of Financial Institutions. GARFIN is responsible for regulating and supervising the non-bank financial sector in Grenada, with its mission to promote and maintain public confidence in and the integrity of the financial system through effective regulation and supervision of designated non-bank financial institutions (1). The ECCB serves as the monetary authority for Grenada and regulates commercial banks, sets interest rates, and ensures financial stability within the Eastern Caribbean region (2).
Grenada is a member of the Eastern Caribbean Currency Union and uses the Eastern Caribbean Dollar as its currency. Businesses and individuals engaging in foreign exchange transactions must adhere to regulations overseen by the ECCB concerning the exchange of local currency for foreign currencies (2). Financial institutions such as banks and currency exchange bureaus must obtain a license from the ECCB to operate in the foreign exchange market, with the licensing process ensuring compliance with regulatory standards and proper oversight (2).
"To promote and maintain public confidence in, and the integrity of the financial system in Grenada through the effective regulation and supervision of designated non-bank financial institutions."
Registered foreign exchange dealers must submit regular reports to the ECCB detailing their foreign exchange transactions, reserves, and compliance with regulatory requirements. The Eastern Caribbean Central Bank maintains foreign exchange controls designed to stabilize the currency, manage foreign reserves, and ensure economic stability across member states (2). GARFIN regulates money service businesses which are non-financial businesses that transmit or convert money, ensuring they operate within established legal frameworks and maintain compliance with anti-money laundering standards (1).
Source:
https://www.garfin.gd
https://www.state.gov/reports/2025-investment-climate-statements/grenada
Last updated: 15-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
