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Cuba Forex brokers
Cuba is an island nation where the Caribbean Sea, the Gulf of Mexico, and the Atlantic Ocean come together, holding a significant history. Once a Spanish colony, Cuba gained independence from the US in 1902. The Cuban Revolution of 1959 brought about communist rule under Fidel Castro, resulting in a Marxist-Leninist government that restricts political freedoms. Cuba's economy heavily relies on tourism and exports, showcasing notable achievements in education and healthcare. While local Forex brokers are under foreign regulation, they offer trustworthy services to local traders. Despite government control over currency exchange and ownership, everyday traders can still engage in Forex trading and other financial activities. Here's a list of top Forex brokers in Cuba.
Cuba's economy is based on socialist principles, centered around a largely state-run planned system. Although the private sector is expanding, government control over production and jobs remains prominent. The recent years have seen a shift towards market socialism, yet average wages continue to be modest. Cuba's primary exports encompass sugar, nickel, and tobacco, along with some reliance on remittances and tourism. Despite its strict regulations, Cuba continues to attract tourists as a favored destination. The Cuban government exerts stringent oversight over all economic aspects, including the financial sector, making foreign currency exchange challenging. Due to the absence of local financial market regulators, trusted Forex brokers in Cuba are overseas entities subject to foreign regulation.