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The best Zimbabwe Forex brokers
Forex trading thrives in Zimbabwe as it remains legally permissible. With a total nominal GDP of 29.9 billion dollars and a per capita GDP of 1,800 USD, the country's growing interest in FX trading stems from its potential as an additional income source due to its low GDP per capita. Responsible for overseeing Zimbabwe's financial landscape, including banks and brokers, is the Reserve Bank of Zimbabwe (RBZ)—the nation's central bank. This role entails regulating the operations of these financial entities within the country. Within this context, we've compiled a comprehensive list ranking the best Forex brokers available in Zimbabwe.
While a 20% capital gains tax exists in Zimbabwe, it remains uncertain whether this applies to retail Forex traders, primarily targeting companies engaged in listed share sales. Maximum leverage levels for retail Forex traders lack strict definition by the Reserve Bank of Zimbabwe (RBZ), potentially leading to overextended trading. Consequently, trusted Forex brokers in Zimbabwe seek regulation from both the RBZ and recognized global regulatory bodies beyond the nation's borders. Compensation parameters for eligible investors in cases of broker insolvency also remain unclear within the purview of the RBZ.