Forex Brokers in Lebanon
Currency trading is growing in popularity in Lebanon, with the forex trading volume increasing year on year. Advances in online technology, higher internet coverage in Lebanon and the increasing competition among CFD brokerages have made online trading more convenient and reduced the costs of trading. Forex trading is legal in Lebanon with laws and rules in regards to the local financial markets determined by the country’s regulatory authority. However, there is no dedicated forex regulator in Lebanon, but traders can use an international forex broker that is authorised by a top-tier regulator to provide trading services to clients in Lebanon.
Best forex brokers Lebanon
To find the best forex brokers in Lebanon, we created a list of all the regulated forex brokers that accept traders in Lebanon, then ranked them based on our overall ratings. You can see the list of our top forex brokers for Lebanon below.
ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA
Lebanese forex brokers
Lebanon is a country which is situated in Western Asia with a large population of potential forex traders. The tourism industry accounts for a large percentage of the country’s GDP which makes currency exchange a daily occurrence. Forex trading is still not a regulated market in the country, but traders are free to trade with international regulated forex brokers who accept local traders and investors.
To start trading forex in Lebanon, you need to open an account on a trading platform that offers CFDs on forex. CFD trading allows you to buy and sell currency pairs without needing actually physically own the underlying currencies. This makes the forex market accessible to anyone in Lebanon with an internet connection.
Opening an account with a forex broker in Lebanon is a relatively simple task which requires registering your personal information, confirming your identification (an ID and a proof of address) and depositing money through different payment methods. Once the account is open, you can start trading in the currency market.
Banque Du Liban (BDL)
The Banque du Liban was established by the Code of Money and Credit promulgated in August 1963. It started to operate effectively on 1st April, 1964. The BDL is a legal public entity enjoying financial and administrative autonomy. It is not subject to the administrative and management rules and controls applicable to the public sector. Its capital is totally appropriated by the State.
Lebanese authorities regulate the domestic forex market tightly. The Bank of Lebanon, also known as Banque Du Liban (BDL), works with religious authorities to provide Sharia-compliant forex brokers to appeal to its Muslim majority. The central bank offers protection only to investors working through this structure, creating a strong divide between the stateside and offshore forex brokers.
DL-regulated brokers must implement a complaints procedure and conduct business in Arabic. If you’re looking to trade forex in Lebanon safely, understanding the system of regulation in the country is vital.
How to verify regulated brokers in Lebanon
Forex trading in Lebanon is perfectly legal and in fact very active. Currency trading is an integral part of import and export and investing internationally. The important thing is that when trading forex online, you choose a reputable and safe broker that is regulated to provide forex trading products and services in Lebanon.
You can get the forex brokers regulation number from the disclosure text at the bottom of their homepage. You can then look up the registration number on the relevant regulators website to confirm if the forex broker is regulated to provide services to residents of Lebanon.
Is forex trading legal in Lebanon?
Yes, forex trading is legal in Lebanon, where there are over 6.4 million potential traders. The Capital Markets Authority (CMA) is an independent, autonomous regulatory body tasked with the responsibility of regulating, supervising, licensing, and monitoring the activities of the Lebanese Capital Markets, as opposed to Banque du Leban or the Central Bank of Lebanon (BDL), which serves as the primary regulatory authority in Lebanon for matters relating to Forex brokerage. In addition to significant gold coin production, Lebanon’s commodities market also features oil that was recently discovered inland. Major agricultural products like apples, peaches, oranges, and lemons contribute significantly to the nation’s economy.
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