ASIC, CySEC, DFSA +2 more
Libya FX brokers
Forex trading is allowed in Libya, but the country lacks local regulatory bodies to oversee brokers and foreign exchange markets. This absence of oversight has discouraged brokers from operating here due to the absence of rules. For those seeking the best Forex brokers in Libya, it's advisable to choose globally regulated, respected companies known for their ethical practices. Below, you'll find a list of the most trusted Forex brokers in Libya, all regulated by respected global authorities.
Libya holds the 96th position in terms of its total nominal GDP, amounting to $46 billion. The nation boasts substantial oil reserves and heavily relies on oil exports, creating a favorable environment for locals interested in trading soft commodities. One advantage is the absence of capital gains tax, allowing tax-free profits from FX trading. Notably, the best Forex brokers in Libya are regulated from outside the country, partially due to the lack of local policies for compensating eligible investors in cases of broker insolvency.