Forex trading in Eswatini, formerly known as Swaziland, is legal and regulated under the Exchange Control Regulations of 1975, administered by the Central Bank of Eswatini. No person is permitted to hold or deal in foreign currency other than an authorized dealer, and residents requiring foreign currency for permissible purposes must apply through an authorized dealer (1). The four authorized dealers in the country include First National Bank of Eswatini Limited, Nedbank Swaziland Limited, Standard Bank Swaziland Limited, and Swaziland Development and Savings Bank.
Eswatini is a signatory to the Common Monetary Area Agreement alongside Lesotho, Namibia, and South Africa, creating an unfettered flow of funds between these nations while each administers exchange control within its borders for transfers with the rest of the world. Exchange controls are currently administered by the Central Bank Exchange Control Department, and all international commercial transactions must be through authorized foreign exchange dealers (2). There are no exchange regulations affecting transactions within the CMA as of 2023.
"No person is permitted to hold or deal in foreign currency other than an authorised dealer. The procedure is that a resident requiring foreign currency for permissible purposes must apply through an authorised dealer, and a resident who acquires foreign currency must sell it to an authorised dealer in exchange for local currency."
The regulatory framework requires permanent residents to declare and sell all foreign currency receipts to an authorized dealer within thirty days after accrual, and residents may not maintain foreign bank accounts outside the CMA without special permission from the Central Bank (1). The Central Bank of Eswatini serves as the monetary authority responsible for management of the country's foreign exchange reserves and regulation of financial institutions. Online forex trading through international brokers operates within this regulatory framework, though traders must ensure compliance with exchange control requirements.
Source:
https://www.centralbank.org.sz/wp-content/uploads/2021/03/ExchangeControlGuide.pdf
https://www.trade.gov/country-commercial-guides/eswatini-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.
