Is Forex Legal in Serbia?

Forex trading in Serbia is regulated by the Law on Foreign Exchange Operations, enforced by the National Bank of Serbia. Under this law, natural and legal persons may trade foreign exchange only with banks or authorized exchange offices, and trading with non-bank entities is prohibited (1).

The NBS Decision on the Performance of Financial Derivative Transactions further specifies that residents may engage in FX derivative contracts exclusively through banks and must comply with all related requirements. Additionally, speculative foreign exchange purchases are not permitted; however, foreign currency may be bought at any time to pay for imports (2).

"This means that trading in foreign exchange with a person other than a bank is prohibited and punishable by law. In addition, resident legal and natural persons may engage in financial derivative transactions involving FX payments only through banks and subject to compliance with other requirements laid down in the Decision."

Although Forex trading is legal, it is strictly supervised: all transactions must be routed through licensed banks or exchangers, and non-compliance may result in penalties under Serbian law.

Source:
https://nbs.rs/en/scripts/showcontent/index.html?id=5606
https://www.trade.gov/country-commercial-guides/serbia-trade-financing

Last updated: 17-05-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.