Is it Legal to Trade Stocks and Forex in Qatar?
If you're wondering if it's legal to trade stocks and forex in Qatar, then the short answer is yes! However, some fraudulent companies take advantage of this to siphon as much money as possible from Qatar Citizens. That's why the Qatar government has Qatar Financial Center (QFC), which has been in existence since 2005, to counter scammers and malicious companies.
Who Regulates Forex Trading In Qatar?
Like any country, Qatar also has multiple regulatory bodies that monitor its financial industry. The Qatari government tasks these regulatory entities to supervise Qatari forex brokerage companies, banks, stock exchanges, and insurance companies. These bodies include;
- Qatar Financial Markets Authority (QFMA): aside from supervising the financial markets, they also conduct security-related Qatar's financial issues.
- Central Bank of Qatar (CBQ): they oversee and control activities of financial institutions such as; investment companies, exchange houses, representative Houses, etc. The body also conducts research related to international and domestic economic development.
- Qatar Financial Futures Regulatory Authority (QFCRA): Established under Qatari law no.7 in 2005, this independent body regulates and authorizes individuals and firms from or conducting financial services in QFC.
