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Ethiopia Forex brokers ranked
Ethiopia, officially known as the Federal Democratic Republic of Ethiopia, is a country situated in the Horn of Africa without any access to the sea. It shares borders with Eritrea, Djibouti, Somalia, Kenya, South Sudan, and Sudan. By 2023, the population has reached 116 million people, and the capital city is Addis Ababa, which is also the largest city. In terms of money, the total nominal GDP for 2023 is estimated at 156 billion dollars, and the per capita GDP sums up to 394 billion dollars. Forex brokers in Ethiopia face a tough environment as government restrictions limit the financial sector. The Ethiopian financial system is underdeveloped as a result and not open to foreign investment. Forex trading is restricted, with careful monitoring of all transactions. Below, you can find a list of the top Forex brokers in Ethiopia that prioritize the safety and fairness of traders.
Local Forex brokers in Ethiopia often have limited access to credit, pushing them to seek external investment. Consequently, the most reliable Forex brokers are typically regulated and established overseas. The National Bank of Ethiopia (NBE) is the strict regulatory body overseeing financial institutions, including Forex brokers. It maintains rigorous oversight to ensure the stability of the financial system. The best Forex brokers in Ethiopia adhere to regulations from both the NBE and international regulators.