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Forex brokers in Norway

 

 

Despite being a small country, Norway is one of the world’s biggest sovereign wealth funds. One would expect from such a rich nation to spend a lot on online trading, but in fact its retail forex market is not as impressive. Actually, none of the Scandinavian countries is a popular forex hub, so this Is not that surprising.

 

Nonetheless, Norway has all regulations and financial bodies a forex market requires in place. Finanstilsynet (Financial Supervisory Authority of Norway) is primarily responsible for supervising the financial markets and all institutions and players in the country’s financial system, including forex brokers.  Overall, the Finanstilsynet aims to ensure the sound functioning of Norwegian financial markets in line with applicable laws and EU regulations, as well as to protect the interests of consumers.

 

Over the past decades, various over-the-counter (OTC) derivatives have become an increasingly important element in financial markets. After the financial crisis, regulation of derivatives markets has been tightened, including a clearing obligation for certain standard interest rate derivatives. Also, the European Market Infrastructure Regulation (EMIR) was introduced in Norway on 1 July 2017.

 

Moreover, the Financial Supervisory Authority of Norway maintains a registry of licensed entities, as well as a warning list, where are entered alerts regarding unregulated market participants, blacklisted by both Finanstilsynet and financial authorities of other countries.

 

So, if you are looking for a trusted forex broker in Norway, these registers are very useful. Keep in mind that most brokers operating in the country are not licensed by Finanstilsynet, but by financial regulators of other EEA countries.

 

As regards the payment methods used by forex brokers in Norway, most of them are made by cards. Mobile payments are also becoming very popular in the country over the past years.

 

 

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