If you're interested in trading Forex in Nepal, you probably want to know whether or not it is illegal. After all, with your capital at risk, the last thing you want is trouble with the law. Lucky for you, we've researched the legislation, and found that it is 100% legal and safe for you to trade Forex in Nepal.
Trading Forex in Nepal is supervised by the Securities Board of Nepal (SEBON). This board is responsible for regulating the "Securites Act". This Act makes:
"... laws relating to securities by amending and consolidating such laws in order to regulate and manage the activities of the securities markets and persons involved in the business of dealing in securities by regulating the issuance, purchase, sale and exchange of securities for the purpose of protecting the interests of investors in securities, by developing the capital market to mobilize necessary capital for the economic development of the country"1
The "Securites Act" is the important piece of legislation for those who want to know the legality of trading Forex in Nepal. SEBON "has been regulating the market" under the Act.2 According to SEBON, any securities business, or trading platform, "has to obtain a license to carry on securities business from the Board pursuant to this Act".3
Unfortunately, none of the best online Forex trading platforms are licensed by SEBON. This is probably because of the high costs and unrealistic requirements they have set for online operators. If you want to trade with low fees and minimal restrictions, you will need to find a trading platform that is regulated somewhere else. CySec, ASIC, and FSC are a few of most common regulators for top Forex platforms.
Now that you have a better understanding of the legality of trading Forex in Nepal, it's time for you to choose a trading platform to make an investment with. We have created a list of the top Forex trading brokers for Nepal. Have look at that, and feel free to contact if you have any questions or concerns.
Sources:
1. SECURITIES ACT, 2007 (page 4)
2. Introduction, Securities Board of Nepal
3. SECURITIES ACT, 2007 (page 36)
Last updated: 05/30/2017 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
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