Online Forex trading in Montenegro is legal and operates under a segmented regulatory framework. The Central Bank of Montenegro supervises banks, microcredit financial institutions, and entities dealing with leasing, factoring, purchase of receivables, and credit-guarantee operations. The Capital Market Authority supervises investment funds and oversees the capital market itself, including the work of the stock exchange and authorized dealers on the market (1).
Montenegro uses the Euro without currency or payment restrictions, despite not being part of the European Union or Eurozone. The Central Bank of Montenegro pursues monetary policy in a specific foreign exchange regime characterized by dollarization or Euroisation. There are no foreign exchange controls affecting currency usage, and the financial system is bank-centric with banks accounting for over 90 percent of total assets in the financial system (2).
"There are no currency or payment restrictions related to the use of the Euro in Montenegro."
The regulatory framework divides supervision among three regulators with the Central Bank of Montenegro holding primary responsibility for banking supervision. The capital market operates through one stock exchange where bonds and shares are traded through authorized brokers. Montenegro is a candidate country for European Union accession and aligns many of its financial regulations with MiFID II principles, though implementation and enforcement may vary in practice (1).
Source:
https://www.cbcg.me/en/core-functions/financial-stability/financial-system-of-montenegro
https://www.privacyshield.gov/ps/article?id=Montenegro-Foreign-Exchange-Controls
Last updated: 15-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
