Forex trading is fully legal in Portugal and is regulated by the Comissão do Mercado de Valores Mobiliários (CMVM), the country's official financial regulatory authority (1). The CMVM serves as the Portuguese equivalent of other national securities commissions and operates as an independent public agency with administrative and financial autonomy, supervising and regulating securities and other financial instruments within Portuguese markets (2).
Portugal's regulatory framework for forex trading aligns with European Union standards, as the country adheres to the Markets in Financial Instruments Directive (MiFID) requirements for supervision of all financial entities across the continent (1). The CMVM ensures that forex brokers operating within Portugal comply with strict financial regulations designed to protect traders and maintain market integrity, including requirements for segregated client accounts, minimum capital requirements, and regular audit reports (1).
"The CMVM is responsible for regulating the best brokers in Portugal. Unlike some regulators in other countries, the CMVM makes its income by charging fees to regulators rather than relying on government funding."
While forex brokers are not strictly required to obtain CMVM authorization to accept Portuguese residents as customers, those that do achieve regulated status in Portugal receive passporting rights under MiFID, allowing them to offer services in other European Economic Area member states (1). This regulatory structure provides Portuguese traders with access to both locally regulated brokers and qualified international brokers that comply with EU regulations, creating a competitive and well-supervised trading environment for forex participants in Portugal (1).
Source:
https://www.forexbonuses.org/regulatory-bodies/cmvm/
https://en.wikipedia.org/wiki/CMVM
Last updated: 01-06-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
