Forex Brokers in Romania
The Romanian online Forex market may not look like a powerhouse volume-wise, but retail traders in the country have long dabbled in forex trading, using various regulated and unregulated brokerages present on the local market. Local authorities have had their fair share of problems, trying to rein in some of the unauthorized and unregistered Forex brokers in Romania who were peddling their services to the public through the benevolently anonymous way of the internet.
An EU member since 2007, Romania adheres to the financial regulation directives of the EU, and as such, it allows EU-licensed forex brokers to operate within its jurisdiction. In this regard, CySEC-regulated and licensed brokers are generally accepted. One needs to understand though that the main financial regulatory body of the country is ASF (Autoritatea de Supraveghere Financiara), and the authority keeping watch over the stability of the national currency, the new Romanian Leu (RON), is the Romanian National Bank (BNR).
Unregulated brokers cannot legally operate in the country, and the Romanian authorities have been known to take concrete steps towards physically denying access to such shady actors. In May, 2016, police stormed the offices of several unregulated as well as regulated online brokerages throughout the country, arresting some 130 people from the unlicensed camp. The raids were a direct consequence of complaints filed by Romanian retail Forex traders, mostly against companies registered in offshore locations such as Belize and Mauritius.
That said, operators with an EU license continue to bring Forex and CFD trading services to the Romanian public.
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