Online Forex trading in North Macedonia is legal and operates under regulations established by the National Bank of the Republic of North Macedonia. The Law on Foreign Exchange Operations governs all foreign exchange activities in the country, allowing exchange rate to be freely established on the foreign exchange market. The NBRM is responsible for price stability, stability of the national currency, stability of the financial system, and the conduct of monetary and foreign exchange policy (1).
North Macedonia does not restrict foreign exchange transactions, capital movements, or private financial transfers. Foreign investors are entitled to transfer profits and income without a transfer tax, with investment returns generally remitted within three working days. Local companies can pay for imported goods or services in foreign currencies as they are allowed to hold foreign exchange accounts in banks (2).
"There are also no legal limitations on private financial transfers, foreign exchange transactions, and capital movements. Local companies can pay for imported goods or services in foreign currencies, as they are allowed to hold a foreign exchange account in one or more banks."
The transition to the second phase of the Stabilization and Association Agreement enabled further liberalization of capital transactions, allowing residents to freely invest in securities and real estate abroad. Exchange offices must obtain authorization from the NBRM to conduct foreign currency operations, purchasing and selling foreign cash and checks denominated in foreign currency. The NBRM maintains a pegged exchange rate system whereby the denar is anchored to the euro (1).
Source:
https://www.nbrm.mk/ns-newsarticle-zakon_za_dievizno_rabotienjie-en.nspx
https://www.trade.gov/country-commercial-guides/north-macedonia-trade-financing
Last updated: 15-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
