Forex trading is legal in Uruguay and operates within a highly regulated financial system overseen by the Central Bank of Uruguay, known as Banco Central del Uruguay (BCU). Uruguay has no foreign currency restrictions, and international transactions can be completed in U.S. dollars or other currencies freely (1). The country provides equal treatment to foreign and national investments under Law 16906, ensuring that forex traders can participate in currency markets without discriminatory barriers or capital controls limiting their trading activities.
The BCU serves as the primary regulatory authority responsible for supervising and licensing all financial services providers in Uruguay, including forex brokers and currency exchange entities. Financial institutions require authorization from the Executive Power to operate for reasons of legality, timeliness and appropriateness, with prior favorable report from the Central Bank of Uruguay, and additionally require authorization from the Superintendency of Financial Services to start operating in the financial system (2). The regulatory framework emphasizes protecting the stability and solvency of entities through systematic implementation of different supervisory mechanisms.
"Supervision is primarily aimed at protecting the stability and solvency of the entities, based on the systematic and regular implementation of different supervisory mechanisms, which seek to promote entities to manage their risks in a professional way."
Uruguay's open financial system allows residents to freely access both domestic and international forex brokers without restrictions on capital flows. The absence of foreign exchange controls means traders can transfer funds in and out of the country for investment purposes without governmental approval (1). The BCU follows international regulatory standards and implements ongoing supervision to ensure financial stability and investor protection, making Uruguay one of the most forex-friendly jurisdictions in Latin America with a transparent and accessible trading environment for retail and institutional participants.
Source:
https://www.trade.gov/country-commercial-guides/uruguay-trade-financing
https://www.bcu.gub.uy/Ingles/Paginas/Financial-Institutions.aspx
Last updated: 15-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
