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Lesotho Forex brokers list
Forex trading is legal in Lesotho and is governed by established regulations. Due to nearly half of the population being engaged in agriculture, the financial sector and education about finances are not as advanced. This has led to Forex trading being less common compared to other nations. Oversight of Lesotho Forex brokers falls under the jurisdiction of the Central Bank of Lesotho. This institution is responsible for ensuring the security of investors and Forex traders, with rules in place to prevent money laundering and uphold Know Your Customer (KYC) standards. Poverty remains a significant challenge in Lesotho, reflected in the country's nominal GDP standing at a modest 2.5 billion dollars. To aid traders from Lesotho in locating reputable Forex brokers, we have conducted research to compile a list of the best brokers.
In 2021, Lesotho imposed a substantial capital gains tax of 22.29%, requiring traders to contribute a substantial portion of their Forex trading gains to the government. Notably, top Forex brokers in Lesotho are at liberty to provide leverage as they see fit, as no explicit regulations are in place to define or restrict maximum leverage for retail Forex traders in the nation. However, policies concerning compensation funds are not clearly outlined, potentially permitting unscrupulous entities to exploit gaps. This emphasizes the importance for local traders to select Forex brokers that also hold regulation from respected international bodies, ensuring the highest level of safeguarding.