ASIC, CySEC, DFSA +2 more
List Of The Best Licensed Forex Brokers In Guatemala
The country’s financial markets, which includes the top forex brokers in Guatemala, are licensed and regulated by the Superintendencia de Bancos (SIB), or the Superintendent of Banks, which oversees the compliance of Guatemala forex brokers with the financial laws and regulations of the country. SIB is also responsible for the financial regulations of commercial banks and other financial institutions in Guatemala. Forex brokers in the country operate through regulated entities, which also include some of the largest players in the global forex and commodities markets. The national currency of Guatemala is the quetzal (GTQ). With deep economic ties to Mexico, forex brokers in Guatemala offer exotic currency pairs from the region, which include, but are not limited to, GTQ/USD, GTQ/MXN, etc. The country is also home to some internationally regulated forex brokers, with licenses from the likes of CySEC, the FCA, the CFTC, etc. When it comes to commodities, Guatemala’s major exports include sugar, timber, coffee, cotton, and livestock, among others. The developing country does not host a major commodities exchange and brokers allow traders to exchange international commodities, such as gold, silver, oil, etc.
Overall, while not a particularly developed market, forex is popular in Guatemala and the best forex brokers in Guatemala grant access to the global currency markets, while adding some exotic pairs for speculative traders. As most readers are interested in trading major and minor pairs, regulated forex brokers in Guatemala offer anything from EUR/USD to NZD/USD, as well as some exotic pairs from the local region. Trusted forex brokers in Guatemala are licensed by the local SIB, while others are internationally regulated by some of the most well-known authorizing bodies. The local commodities market is fairly underdeveloped and the country is largely dependent on its exports of raw commodities, such as coffee, sugar, and timber. With limited oil and gas resources, traders in Guatemala rely on access to the international market for trading, as well as for local consumption. While a regulated market, traders are advised to pick the brokers with international regulation, as they follow industry standards and ensure that their funds are secure. Forex brokers in Guatemala also offer CFDs trading on major and minor pairs from around the world, which are essential to the forex market.