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Online Forex trading is not very popular in Nicaragua. The country’s economy is primarily based on tourism and the government has not made any attempts at reforming its regulatory structure in order to integrate Forex trading within it. As a matter of fact – the financial sector of the country is frightfully underdeveloped. 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 are regulated by the Superintendencia de Bancos y de Otras Instituciones Financieras de Nicaragua (SUDEBAN).
SUDEBAN supports a website, however, without an available English language option. There are no legitimate Nicaragua-based brokerages, however, many well-known regulated in Europe brokers target quite successfully traders from Nicaragua and the state does not explicitly prohibit the contracting of such services.
An important thing to note is that they should support the preferred language option. The official language in the country is Spanish which makes communicating with European brokerages easy. Brokerages also have to provide withdrawals and deposits via the national currency – Córdoba (NIO). The standard Visa and MasterCard are the widely preferred by traders in the country payment methods.