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Chile is probably the most sophisticated market economy in Latin America, attracting many foreign investors, not only because of the highest sovereign bond rating in the region, but also because of the good reputation of its financial institutions and sound fiscal policy.
The Commission for the Financial Market (CFM), which replaced Superintendencia de Valores y Seguros (the Superintendency of Securities and Insurance) in January 2018 supervises all players on the financial markets in the country, including financial corporations, insurance companies, stock exchanges and intermediaries, mutual funds and their administrators, risk rating agencies and investment funds.
Still, as the local legislation does not cover the forex and CFD sector specifically, most regulations are tailored for stock brokers, and that leaves the Chilean forex and CFD brokers in what may seem a gray area.
And yet forex and CFD trade in Chile is perfectly legal, and all you have to do is pick up an international broker, regulated by a well respected financial watchdog, such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC) and start trading.
Popular payment methods in the country, besides major credit or debit cards like VISA and MasterCard, include various e-wallets like , PayU Latam, PayPal Express Checkout, WebPayPlus, Mobiamo, Red Compra, Mercado Pago, Multicaja, Servipag, Sencillito, Coinbase Commerce, BitPay, GoCoin.
Besides, the Chilean peso attracts lots of attention, because of its relative stability. The currency is commonly paired with US Dollar, Brazilian Real, Canadian Dollar, Australian Dollar, Euro and Japanese Yen.
Chile’s monetary policy is governed by the Central Bank of Chile’s five-member board of directors, who conduct monthly monetary policy meetings.