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Online Forex trading is not widespread in Niger. As a matter of fact, the situation in the country is quite dire – the UN Human Development Index ranked it 188th of 189 countries in total. 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 Niger government does not have an independent regulatory body in the country and financial transactions in the country are regulated by the common central bank, the Central Bank of West African States. The economy is quite rudimentary in the African state and frightfully underdeveloped.
The central bank supports a website, however, with an available English language option. There are no legitimate Niger-based brokerages, however, many well-known regulated in Europe brokers target quite successfully traders from Niger 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. The official language in the country is French. Brokerages also have to provide withdrawals and deposits via the national currency – the CFA franc. The standard Visa and MasterCard are the widely preferred by traders in the country payment methods.