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Online Forex trading is not widespread in Eritrea. Unfortunately, the situation in the country is dire and it has suffered one of the worst demographic declines in recent years. The financial sector remains frightfully underdeveloped and the government has not made any attempts at reforming its regulatory structure in order to integrate Forex trading within it. At it stands today – the legislation of the country does not reflect the existence of Forex trading, even though it takes place in the country.
The government does not have an independent regulatory body in the country and financial transactions in the country are regulated by the central bank, the Central Bank of Eritrea.
The central bank supports a website, however, without an available English language option. There are no legitimate Eritrea-based brokerages, however, many well-known regulated in Europe brokers target quite successfully traders from Eritrea who do not get into trouble with the state for contracting their services.
An important thing to note is that they should support one of the several languages that are spoken in the country. There is no official language which makes communicating with European brokerages quite hard. The standard Visa and MasterCard are the widely preferred by traders in the country payment methods.