Forex stands for Foreign Exchange Market, which means the foreign currency exchange market, aka Forex or FX. Forex is an international market where the currencies of different countries are traded & traders earn a profit (loss) with the price difference between two currencies. Unlike the stock market, the forex market does not have a centralized physical market but England, the US, and Japan are considered the major centers of foreign exchange trading in the world and are known as the markets of New York, London, and Tokyo.
Today, with the advancement in technology, the emergence of smartphones and tablets, the increase in social media activity, and the development of the Internet in general, Forex has become a global phenomenon, and every day the number of people entering this market is increasing. With the increase in the Internet penetration level to the farthest parts of the world, the Forex financial market has also penetrated these distant areas, and now many people worldwide are familiar with this market.
Therefore, as we know, Forex is one of the largest financial markets in the world, where traders exchange foreign currencies. The forex market was only available to central banks, commercial companies, large financial institutions, etc., at the beginning and the general public had no access to it, but after the Internet development, ordinary people were also allowed to enter the forex market. And currently, in addition to banks, big financial institutions, and commercial companies, speculators and individuals can also trade.
In many advanced countries, the forex market is considered one of the most reliable financial markets, and they use this market to earn more foreign currency for their organizations, companies, etc. But the forex market is banned in some companies, and government organizations do not have the right to operate in this market. And if, while working in Forex, they encourage others to invest in this market, it is considered a crime. An important question for some people is, in which countries is Forex prohibited, or in other words, in which countries is Forex legal?
As mentioned, unlike the stock market, the forex market does not have a centralized physical market but England, the US, and Japan are the major centers of foreign exchange trading in the world and are known as the markets of New York, London, and Tokyo. So we find that the culture of investment and activity in the international Forex market has taken root worldwide, and the world's superpower and advanced countries are taking advantage of this market. The forex market is legal in Australia, the US, England, India, Canada, Europe, UAE, etc.
Forex in North and South America: North America has the largest forex brokers and has strictly regulated forex trades.
South Africa also offers a forex license under the rules of the FSB or (Financial Services Board).
Cyprus is known as a top destination for the presence and activity of forex brokers in the Middle East.
In Asia and the Pacific, forex trading is legal for Japan, Hong Kong, Australia, New Zealand, etc.
Europe has the largest and most famous brokers, and activity in the forex market is permitted and legal for 99% of the countries in Europe.