If you're interested in trading Forex in Zimbabwe, you probably want to know whether or not it is legal for you to do so. After all, with your capital at risk, the last thing you want is trouble with the law. Lucky for you, we've researched the legislation, and found that it is 100% safe for you to trade Forex in Zimbabwe!
The laws for trading Forex in Zimbabwe are outlined in the "Securities Act - Act 17/2004". This piece of legislation is defined as the following:
"The Act is the legal framework for the Securities Commission of Zimbabwe, establishing it Section3. It was promulgated in 2004 and operationalised in 2008... Provide high levels of investor protection... regulate trading and dealing in securities"1
That means, the "Securities Act" not only lays the legal framework for trading Forex, but spread betting, CFDs, and binary options as well. It empowers the Securities and Exchange Commission of Zimbabwe (SECZ) to make rules for the objectives of the Act, and to enforce them with levies and fees.
Since the "Securities Act" was drafted in 2004, there is little mention of online Forex trading. Most trading platforms that we have reviewed have accepted Zimbabwean clients. We have labeled those who do not so you can avoid them. If you're looking for a regulated operator to trade with, CySec, ASIC, and FSC are a few of most common regulators for top Forex platforms.
Now that you have a better understanding of the legality of trading Forex in Zimbabwe, it's time for you to choose a trading platform to make an investment with. We have created a list of the top Forex trading brokers for Zimbabwe. Have look at that, and feel free to contact if you have any questions or concerns.
Source:
Zimbabwe Securities Laws & Legislation
Last updated: 05/30/2017 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
