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Online Forex trading is not widespread in Mauritania. Unfortunately, the situation in the country is dire with much political uncertainty. There is even still reports of modern day slavery in the country with thousands held against their will. 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.
Financial transactions in the country fall under the regulatory oversight of the local Autorite de Regulation. The scope of the governmental agency extends to the banking sector as well.
The Regulatory Authority does support a website with an available English language option which we consider an advantage. There are no legitimate Mauritania-based brokerages, however, many well-known regulated in Europe brokers target quite successfully traders from the African landlocked state who do not get into trouble for contracting their services.
An important thing to note is that they should support the official language of the country which happens to be French. This makes communicating with European brokerages quite easier. Brokerages also have to provide withdrawals and deposits via the national currency – Ouguiya (MRU). The standard Visa and MasterCard are the widely preferred by traders in the country payment methods.