Forex Brokers in Portugal
With a population of 10.4 million people, Portugal may not be the biggest market for Forex brokers looking to peddle their services to EU based customers, but it certainly is a sufficiently large market to target for every reasonably established forex operator. Furthermore, accessing the Portuguese market is rather easy: with any license handed out by an EU-based operator, and yes, that includes CySEC, Forex brokers can legally offer financial services to the Portuguese public. That is not to say of course that Portugal do not have their own, home-grown financial regulator. This regulator is the CMVM (Comissao do Mercado de Valores Mobiliarios) and it enjoys complete autonomy in regards to the supervision and regulation of the financial entities in the market. Needless to say, operators licensed by the CMVM can operate throughout the EEA as well, the same way CySEC-licensed operators do. According to some experts, a CMVM license may lend even more credibility and prestige to a broker, because the licensing requirements of the agency are rather strict.
Everything that stirs in the Portuguese equity market comes under the authority of the CMVM. It is the sole regulatory authority which governs the proper functioning of the Portuguese stock exchange.
From an economic perspective, Portugal may not be much of a target-destination for international brokers looking to operate within the EU though. One of the early members of the EU and a steadfast Eurozone member, its economic stability shouldn’t be doubtable. Unfortunately, it is also a member of the infamous PIIGS group, meaning that it may in fact be one of the weaker links in the Euro.
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