Is Forex Legal in Zambia?

Forex trading is legal in Zambia and operates under a well-defined regulatory framework overseen by the Bank of Zambia and the Zambia Securities and Exchange Commission (1). The Bank of Zambia removed certain foreign exchange limitations in 2021, which significantly facilitated capital movements in foreign currencies and welcomed increased participation from both local and international traders (1). This liberalization has attracted numerous international forex brokers to provide services to Zambian residents, creating unprecedented access to global financial markets.

The regulatory authorities require forex trading entities to secure relevant licensing and adhere to international monetary standards and local regulations (1). Traders must comply with anti-money laundering protocols and know-your-customer guidelines to ensure transparency and prevent fraudulent activities (1). While Zambia does not have local brokerage firms, residents can legally engage with reputable international brokers that maintain proper regulatory compliance (2).

"Forex trading in Zambia is legal even though it is not regulated in the country. What happens is that Zambian traders can register with an international broker that is regulated abroad. The only rule is that the trader should be respecting Zambian laws."

The regulatory framework includes specific measures such as leverage limits and currency restrictions to protect traders from excessive risks and potential losses that exceed their capital (1). The Bank of Zambia and Securities Exchange Commission jointly enforce legal and ethical guidelines, including measures against fraudulent trading activities. For Zambian residents interested in forex trading, it is essential to select internationally regulated brokers and ensure all trading activities align with established legal guidelines to maintain compliance with national financial laws.

Source:
https://market-bulls.com/is-forex-trading-legal-in-zambia/
https://investingoal.com/forex-brokers-zambia/

Last updated: 01-06-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.