Accepted Countries

While online trading is practiced in countries from all over the world, every country has their own set of rules and regulations pertaining to investment practices. Some countries may offer certain services in which other countries do not. Which is why it’s very important to understand the rules and regulations of the country in which you reside. Certain trading practices and financial instruments are prohibited by the government. As well, some countries even restrict traders from trading certain financial assets. Failure to comply with the restrictions of these countries who enforce them can result in hefty fines and even imprisonment. Below let’s learn which countries impose restrictions and what types of penalties they have for those who disobey.

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Can Every Country Trade Forex?
Although forex trading is the largest global financial market with a daily turnaround averaging $1.5 trillion a day, there are some countries who do not participate in this market. The following are countries who do not participate or have strict regulation with the trading of Forex;

  • Belarus
  • Bosnia & Herzegovina
  • British Columbia (Canada)
  • Bulgaria
  • China (Strict regulations if not total ban)
  • Cuba
  • India
  • Indonesia
  • Ivory Coast
  • Iran
  • Liberia
  • Lithuania
  • Macedonia
  • Malaysia
  • Montenegro
  • Myanmar
  • Nigeria
  • North Korea
  • Pakistan
  • Quebec (Canada)
  • Romania
  • South Korea
  • Sri Lanka (Recently relaxed but not confirmed)
  • St. Helena
  • Sudan
  • Syria
  • Ukraine
  • Zimbabwe

This list of banned countries is quite small in the grand scheme of the world, which proves just how popular forex trading is. While all the countries on this list are either banned or have very restrictive rules and regulations, the reasoning behind them vary.

Reasons For Banned Forex Trading

  • Some countries regulators ban any sort of overseas transactions via anti-money laundering laws, therefore banning the trading of forex in the process.
  • While some of the countries listed above are completely banned, others are simply under restrictive guidelines for the trading of forex.
  • Some countries ban the use of credit cards to fund or withdraw deposits in foreign currency.
  • Some ban using a domestic bank account to fund or withdraw international transactions.
  • Some countries have various ant-terrorism laws which somehow curb the trading of forex.

What Countries Can Trade Binary Options?
The trading of binary options is a very popular and fast-growing niche in the online trading space. Although, even though its popular, binary options trading is not accepted everywhere. It is very important that you trade with a reputable and regulated binary options broker, rather than a black listed company, a scam, or an unprofessional service.

That being said, EU regulated brokers are by far the safest to trade with. For most European countries, excluding Italy, binary options trading is legal and regulated by reputable organizations.

Countries in which binary options trading is legal but not yet regulated are most countries in Asia, and Australia. People residing in any of the regions or countries here are advised to go with a reputable international binary option brokerregistered and regulated in the EU. While these places may have binary options brokers present and claim to be regulated, they are not. The only regulated brokers are from the EU.

As for the United States, binary options trading is regulated by CFTC and offered by Nadex. Also, most if not all brokerages from the EU do not offer their services to traders residing in America.